GBSP.L vs. SSLN.L
GBSP.L (WisdomTree Physical Gold - GBP Daily Hedged) and SSLN.L (iShares Physical Silver ETC) are both exchange-traded funds - GBSP.L is a Precious Metals fund tracking the Gold (GBP Hedged), while SSLN.L is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, GBSP.L returned 11.30%/yr vs 16.71%/yr for SSLN.L. A 0.67 correlation means they provide meaningful diversification when combined. GBSP.L charges 0.25%/yr vs 0.20%/yr for SSLN.L.
Performance
GBSP.L vs. SSLN.L - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with GBSP.L at 3.18% and SSLN.L at 3.18%. Over the past 10 years, GBSP.L has underperformed SSLN.L with an annualized return of 11.30%, while SSLN.L has yielded a comparatively higher 16.71% 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%
SSLN.L
- 1D
- 0.48%
- 1M
- -3.40%
- YTD
- 3.18%
- 6M
- 25.57%
- 1Y
- 108.67%
- 3Y*
- 42.31%
- 5Y*
- 22.99%
- 10Y*
- 16.71%
GBSP.L vs. SSLN.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% |
SSLN.L iShares Physical Silver ETC | 3.18% | 130.26% | 23.21% | -6.20% | 15.75% | -11.64% | 40.73% | 12.68% | -3.48% | -5.59% |
Correlation
The correlation between GBSP.L and SSLN.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 | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.67 |
The correlation between GBSP.L and SSLN.L has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
GBSP.L vs. SSLN.L — Risk / Return Rank
GBSP.L
SSLN.L
GBSP.L vs. SSLN.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 iShares Physical Silver ETC (SSLN.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 | SSLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.98 | -1.21 |
| Martin ratioReturn relative to average drawdown | 4.51 | 6.53 | -2.02 |
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 | SSLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 2.11 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.70 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 0.57 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.17 | +0.21 |
Drawdowns
GBSP.L vs. SSLN.L - Drawdown Comparison
The maximum GBSP.L drawdown since its inception was -37.30%, smaller than the maximum SSLN.L drawdown of -69.95%. Use the drawdown chart below to compare losses from any high point for GBSP.L and SSLN.L.
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Drawdown Indicators
| GBSP.L | SSLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.30% | -69.95% | +32.65% |
Max Drawdown (1Y)Largest decline over 1 year | -17.53% | -38.72% | +21.19% |
Max Drawdown (3Y)Largest decline over 3 years | -17.53% | -38.72% | +21.19% |
Max Drawdown (5Y)Largest decline over 5 years | -22.05% | -38.72% | +16.67% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -38.72% | +15.73% |
Current DrawdownCurrent decline from peak | -15.96% | -33.62% | +17.66% |
Average DrawdownAverage peak-to-trough decline | -17.52% | -45.32% | +27.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.88% | 17.69% | -10.81% |
Volatility
GBSP.L vs. SSLN.L - Volatility Comparison
The current volatility for WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) is 6.25%, while iShares Physical Silver ETC (SSLN.L) has a volatility of 16.31%. This indicates that GBSP.L experiences smaller price fluctuations and is considered to be less risky than SSLN.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 | SSLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 16.31% | -10.06% |
Volatility (6M)Calculated over the trailing 6-month period | 21.79% | 51.81% | -30.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 54.53% | -29.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 33.31% | -16.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 29.69% | -14.13% |
GBSP.L vs. SSLN.L - Expense Ratio Comparison
GBSP.L has a 0.25% expense ratio, which is higher than SSLN.L's 0.20% 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. SSLN.L - Dividend Comparison
Neither GBSP.L nor SSLN.L has paid dividends to shareholders.
Frequently Asked Questions
GBSP.L and SSLN.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, SSLN.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSLN.L is cheaper with a 0.20% expense ratio, compared with 0.25% for GBSP.L.
GBSP.L is categorized as Precious Metals, while SSLN.L is Silver. GBSP.L tracks Gold (GBP Hedged), while SSLN.L tracks LBMA Silver Price. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.25% for GBSP.L and 0.20% for SSLN.L.
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