GBSP.L vs. GLDA.L
GBSP.L (WisdomTree Physical Gold - GBP Daily Hedged) and GLDA.L (Amundi Physical Gold ETC (C)) are both Precious Metals funds - GBSP.L tracks the Gold (GBP Hedged) while GLDA.L tracks the Gold. Both are passively managed. Over the past 5 years, GBSP.L returned 17.19%/yr vs 20.09%/yr for GLDA.L. A 0.69 correlation means they provide meaningful diversification when combined. GBSP.L charges 0.25%/yr vs 0.12%/yr for GLDA.L.
Performance
GBSP.L vs. GLDA.L - Performance Comparison
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Returns By Period
In the year-to-date period, GBSP.L achieves a 3.18% return, which is significantly lower than GLDA.L's 3.93% return.
GBSP.L
- 1D
- 0.76%
- 1M
- -4.73%
- YTD
- 3.18%
- 6M
- 5.42%
- 1Y
- 31.89%
- 3Y*
- 30.23%
- 5Y*
- 17.19%
- 10Y*
- 11.30%
GLDA.L
- 1D
- 0.72%
- 1M
- -3.55%
- YTD
- 3.93%
- 6M
- 5.10%
- 1Y
- 34.40%
- 3Y*
- 28.01%
- 5Y*
- 20.09%
- 10Y*
- —
GBSP.L vs. GLDA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBSP.L WisdomTree Physical Gold - GBP Daily Hedged | 3.18% | 63.29% | 25.01% | 11.75% | -1.73% | -4.92% | 8.62% |
GLDA.L Amundi Physical Gold ETC (C) | 3.93% | 53.56% | 28.19% | 7.26% | 12.68% | -3.12% | -2.69% |
Correlation
The correlation between GBSP.L and GLDA.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 19, 2020 | 0.69 |
Over the past year, GBSP.L and GLDA.L have become more correlated (0.94) than their long-term average of 0.69, meaning their price movements have been converging.
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Return for Risk
GBSP.L vs. GLDA.L — Risk / Return Rank
GBSP.L
GLDA.L
GBSP.L vs. GLDA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) and Amundi Physical Gold ETC (C) (GLDA.L). 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.
| GBSP.L | GLDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.87 | -0.11 |
| Martin ratioReturn relative to average drawdown | 4.51 | 5.03 | -0.53 |
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
| GBSP.L | GLDA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.43 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 1.41 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 1.07 | -0.69 |
Drawdowns
GBSP.L vs. GLDA.L - Drawdown Comparison
The maximum GBSP.L drawdown since its inception was -37.30%, which is greater than GLDA.L's maximum drawdown of -21.57%. Use the drawdown chart below to compare losses from any high point for GBSP.L and GLDA.L.
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Drawdown Indicators
| GBSP.L | GLDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.30% | -21.57% | -15.73% |
Max Drawdown (1Y)Largest decline over 1 year | -17.53% | -17.90% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -17.53% | -17.90% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -22.05% | -17.90% | -4.15% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | — | — |
Current DrawdownCurrent decline from peak | -15.96% | -16.00% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -17.52% | -5.40% | -12.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.88% | 6.67% | +0.21% |
Volatility
GBSP.L vs. GLDA.L - Volatility Comparison
WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) has a higher volatility of 6.25% compared to Amundi Physical Gold ETC (C) (GLDA.L) at 5.20%. This indicates that GBSP.L's price experiences larger fluctuations and is considered to be riskier than GLDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBSP.L | GLDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 5.20% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 21.79% | 20.39% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 23.46% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 17.65% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 18.02% | -2.46% |
GBSP.L vs. GLDA.L - Expense Ratio Comparison
GBSP.L has a 0.25% expense ratio, which is higher than GLDA.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GBSP.L vs. GLDA.L - Dividend Comparison
Neither GBSP.L nor GLDA.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, GBSP.L and GLDA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GLDA.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDA.L is cheaper with a 0.12% expense ratio, compared with 0.25% for GBSP.L.
GBSP.L tracks Gold (GBP Hedged), while GLDA.L tracks Gold. They also come from different issuers: WisdomTree and Amundi. Their fees differ too: 0.25% for GBSP.L and 0.12% for GLDA.L.
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