GBSP.L vs. SLVR.L
GBSP.L (WisdomTree Physical Gold - GBP Daily Hedged) and SLVR.L (WisdomTree Silver) are both exchange-traded funds - GBSP.L is a Precious Metals fund tracking the Gold (GBP Hedged), while SLVR.L is a Silver fund tracking the Bloomberg Silver Subindex. Both are passively managed. Over the past 10 years, GBSP.L returned 11.30%/yr vs 14.35%/yr for SLVR.L. A 0.68 correlation means they provide meaningful diversification when combined. GBSP.L charges 0.25%/yr vs 0.49%/yr for SLVR.L.
Performance
GBSP.L vs. SLVR.L - Performance Comparison
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Different Trading Currencies
GBSP.L is traded in GBp, while SLVR.L is traded in USD. To make them comparable, the SLVR.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GBSP.L achieves a 3.18% return, which is significantly lower than SLVR.L's 4.04% return. Over the past 10 years, GBSP.L has underperformed SLVR.L with an annualized return of 11.30%, while SLVR.L has yielded a comparatively higher 14.35% annualized 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%
SLVR.L
- 1D
- 0.43%
- 1M
- 0.90%
- YTD
- 4.04%
- 6M
- 27.59%
- 1Y
- 111.39%
- 3Y*
- 39.80%
- 5Y*
- 20.48%
- 10Y*
- 14.35%
GBSP.L vs. SLVR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBSP.L WisdomTree Physical Gold - GBP Daily Hedged | 3.18% | 63.29% | 25.01% | 11.75% | -1.73% | -4.92% | 21.84% | 14.56% | -4.55% | 8.43% |
SLVR.L WisdomTree Silver | 4.01% | 119.85% | 22.25% | -7.44% | 14.41% | -13.86% | 36.48% | 9.63% | -4.80% | -7.32% |
Correlation
The correlation between GBSP.L and SLVR.L is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.68 |
The correlation between GBSP.L and SLVR.L has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.
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Return for Risk
GBSP.L vs. SLVR.L — Risk / Return Rank
GBSP.L
SLVR.L
GBSP.L vs. SLVR.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 WisdomTree Silver (SLVR.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 | SLVR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.86 | -1.09 |
| Martin ratioReturn relative to average drawdown | 4.51 | 6.24 | -1.73 |
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 | SLVR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.93 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.58 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 0.46 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.29 | +0.08 |
Drawdowns
GBSP.L vs. SLVR.L - Drawdown Comparison
The maximum GBSP.L drawdown since its inception was -37.30%, smaller than the maximum SLVR.L drawdown of -72.07%. Use the drawdown chart below to compare losses from any high point for GBSP.L and SLVR.L.
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Drawdown Indicators
| GBSP.L | SLVR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.30% | -72.07% | +34.77% |
Max Drawdown (1Y)Largest decline over 1 year | -17.53% | -38.77% | +21.24% |
Max Drawdown (3Y)Largest decline over 3 years | -17.53% | -38.77% | +21.24% |
Max Drawdown (5Y)Largest decline over 5 years | -22.05% | -38.77% | +16.72% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -39.80% | +16.81% |
Current DrawdownCurrent decline from peak | -15.96% | -33.71% | +17.75% |
Average DrawdownAverage peak-to-trough decline | -17.52% | -43.50% | +25.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.88% | 17.80% | -10.92% |
Volatility
GBSP.L vs. SLVR.L - Volatility Comparison
The current volatility for WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) is 6.25%, while WisdomTree Silver (SLVR.L) has a volatility of 17.02%. This indicates that GBSP.L experiences smaller price fluctuations and is considered to be less risky than SLVR.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 | SLVR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 17.02% | -10.77% |
Volatility (6M)Calculated over the trailing 6-month period | 21.79% | 54.71% | -32.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 57.51% | -32.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 35.17% | -17.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 31.09% | -15.53% |
GBSP.L vs. SLVR.L - Expense Ratio Comparison
GBSP.L has a 0.25% expense ratio, which is lower than SLVR.L's 0.49% expense ratio.
Dividends
GBSP.L vs. SLVR.L - Dividend Comparison
Neither GBSP.L nor SLVR.L has paid dividends to shareholders.
Frequently Asked Questions
GBSP.L and SLVR.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBSP.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBSP.L is cheaper with a 0.25% expense ratio, compared with 0.49% for SLVR.L.
GBSP.L is categorized as Precious Metals, while SLVR.L is Silver. GBSP.L tracks Gold (GBP Hedged), while SLVR.L tracks Bloomberg Silver Subindex. Their fees differ too: 0.25% for GBSP.L and 0.49% for SLVR.L.
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