GBSE.DE vs. SLVR.DE
GBSE.DE (WisdomTree Physical Gold EUR Daily Hedged) and SLVR.DE (WisdomTree Silver) are both exchange-traded funds - GBSE.DE is a Gold fund tracking the MS Long Gold Euro Hedged, while SLVR.DE is a Silver fund tracking the Bloomberg Silver Subindex. Both are passively managed. Over the past 3 years, GBSE.DE returned 28.22%/yr vs 45.36%/yr for SLVR.DE. A 0.71 correlation means they provide meaningful diversification when combined. GBSE.DE charges 0.12%/yr vs 0.49%/yr for SLVR.DE.
Performance
GBSE.DE vs. SLVR.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GBSE.DE achieves a 0.31% return, which is significantly lower than SLVR.DE's 1.99% return.
GBSE.DE
- 1D
- 0.75%
- 1M
- -2.43%
- YTD
- 0.31%
- 6M
- 4.63%
- 1Y
- 28.73%
- 3Y*
- 28.22%
- 5Y*
- 15.61%
- 10Y*
- 10.16%
SLVR.DE
- 1D
- 0.14%
- 1M
- 2.46%
- YTD
- 1.99%
- 6M
- 17.62%
- 1Y
- 93.81%
- 3Y*
- 45.36%
- 5Y*
- —
- 10Y*
- —
GBSE.DE vs. SLVR.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GBSE.DE WisdomTree Physical Gold EUR Daily Hedged | 0.31% | 62.87% | 24.14% | 10.15% | -6.05% |
SLVR.DE WisdomTree Silver | 1.99% | 147.57% | 21.38% | -4.72% | -10.71% |
Correlation
The correlation between GBSE.DE and SLVR.DE is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since May 9, 2022 | 0.71 |
The correlation between GBSE.DE and SLVR.DE has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.
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Return for Risk
GBSE.DE vs. SLVR.DE — Risk / Return Rank
GBSE.DE
SLVR.DE
GBSE.DE vs. SLVR.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) and WisdomTree Silver (SLVR.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| GBSE.DE | SLVR.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.29 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 3.06 | -1.43 |
| Martin ratioReturn relative to average drawdown | 4.08 | 7.37 | -3.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBSE.DE | SLVR.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.85 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.68 | -0.37 |
Drawdowns
GBSE.DE vs. SLVR.DE - Drawdown Comparison
The maximum GBSE.DE drawdown since its inception was -38.38%, which is greater than SLVR.DE's maximum drawdown of -31.33%. Use the drawdown chart below to compare losses from any high point for GBSE.DE and SLVR.DE.
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Drawdown Indicators
| GBSE.DE | SLVR.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -31.33% | -7.05% |
Max Drawdown (1Y)Largest decline over 1 year | -17.55% | -30.51% | +12.96% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -30.51% | +12.96% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.45% | — | — |
Current DrawdownCurrent decline from peak | -16.18% | -24.02% | +7.84% |
Average DrawdownAverage peak-to-trough decline | -18.88% | -12.66% | -6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.02% | 12.69% | -5.67% |
Volatility
GBSE.DE vs. SLVR.DE - Volatility Comparison
The current volatility for WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) is 5.93%, while WisdomTree Silver (SLVR.DE) has a volatility of 17.06%. This indicates that GBSE.DE experiences smaller price fluctuations and is considered to be less risky than SLVR.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBSE.DE | SLVR.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 17.06% | -11.13% |
Volatility (6M)Calculated over the trailing 6-month period | 21.62% | 41.25% | -19.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 50.34% | -25.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 38.29% | -21.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 38.29% | -22.79% |
GBSE.DE vs. SLVR.DE - Expense Ratio Comparison
GBSE.DE has a 0.12% expense ratio, which is lower than SLVR.DE's 0.49% expense ratio.
Dividends
GBSE.DE vs. SLVR.DE - Dividend Comparison
Neither GBSE.DE nor SLVR.DE has paid dividends to shareholders.
Frequently Asked Questions
GBSE.DE and SLVR.DE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBSE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBSE.DE is cheaper with a 0.12% expense ratio, compared with 0.49% for SLVR.DE.
GBSE.DE is categorized as Gold, while SLVR.DE is Silver. GBSE.DE tracks MS Long Gold Euro Hedged, while SLVR.DE tracks Bloomberg Silver Subindex. Their fees differ too: 0.12% for GBSE.DE and 0.49% for SLVR.DE.
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