GBSE.DE vs. YGLD.DE
GBSE.DE (WisdomTree Physical Gold EUR Daily Hedged) and YGLD.DE (IncomeShares Gold + Yield ETP) are both exchange-traded funds - GBSE.DE is a Gold fund tracking the MS Long Gold Euro Hedged, while YGLD.DE is a Derivative Income fund actively managed by Leverage Shares. GBSE.DE is passively managed, while YGLD.DE is actively managed. Over the past year, GBSE.DE returned 29.37% vs 17.39% for YGLD.DE. A 0.72 correlation means they provide meaningful diversification when combined. GBSE.DE charges 0.12%/yr vs 0.35%/yr for YGLD.DE.
Performance
GBSE.DE vs. YGLD.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 higher than YGLD.DE's -5.17% return.
GBSE.DE
- 1D
- 0.75%
- 1M
- -4.83%
- YTD
- 0.31%
- 6M
- 4.58%
- 1Y
- 29.37%
- 3Y*
- 28.22%
- 5Y*
- 15.61%
- 10Y*
- 10.16%
YGLD.DE
- 1D
- -0.03%
- 1M
- -2.44%
- YTD
- -5.17%
- 6M
- -2.21%
- 1Y
- 17.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBSE.DE vs. YGLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GBSE.DE WisdomTree Physical Gold EUR Daily Hedged | 0.31% | 62.87% | -0.10% |
YGLD.DE IncomeShares Gold + Yield ETP | -5.17% | 41.92% | -7.11% |
Correlation
The correlation between GBSE.DE and YGLD.DE is 0.72, 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 | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024 | 0.72 |
The correlation between GBSE.DE and YGLD.DE has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.
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Return for Risk
GBSE.DE vs. YGLD.DE — Risk / Return Rank
GBSE.DE
YGLD.DE
GBSE.DE vs. YGLD.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 IncomeShares Gold + Yield ETP (YGLD.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 | YGLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.17 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.99 | +0.64 |
| Martin ratioReturn relative to average drawdown | 4.08 | 1.95 | +2.13 |
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 | YGLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 0.56 | +0.60 |
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 | 0.59 | -0.27 |
Drawdowns
GBSE.DE vs. YGLD.DE - Drawdown Comparison
The maximum GBSE.DE drawdown since its inception was -38.38%, which is greater than YGLD.DE's maximum drawdown of -16.94%. Use the drawdown chart below to compare losses from any high point for GBSE.DE and YGLD.DE.
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Drawdown Indicators
| GBSE.DE | YGLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -16.94% | -21.44% |
Max Drawdown (1Y)Largest decline over 1 year | -17.55% | -16.94% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | — | — |
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% | -15.27% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -18.88% | -5.54% | -13.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.02% | 8.62% | -1.60% |
Volatility
GBSE.DE vs. YGLD.DE - Volatility Comparison
WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) and IncomeShares Gold + Yield ETP (YGLD.DE) have volatilities of 5.93% and 6.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBSE.DE | YGLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 6.19% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 21.62% | 17.41% | +4.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 29.80% | -5.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 26.34% | -9.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 26.34% | -10.84% |
GBSE.DE vs. YGLD.DE - Expense Ratio Comparison
GBSE.DE has a 0.12% expense ratio, which is lower than YGLD.DE's 0.35% expense ratio.
Dividends
GBSE.DE vs. YGLD.DE - Dividend Comparison
GBSE.DE has not paid dividends to shareholders, while YGLD.DE's dividend yield for the trailing twelve months is around 6.24%.
| Position | TTM | 2025 |
|---|---|---|
GBSE.DE WisdomTree Physical Gold EUR Daily Hedged | 0.00% | 0.00% |
YGLD.DE IncomeShares Gold + Yield ETP | 6.24% | 6.36% |
Frequently Asked Questions
GBSE.DE and YGLD.DE have a correlation of 0.72, 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 0.35% for YGLD.DE.
GBSE.DE is categorized as Gold, while YGLD.DE is Derivative Income. They also come from different issuers: WisdomTree and Leverage Shares. Their fees differ too: 0.12% for GBSE.DE and 0.35% for YGLD.DE.
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