GBSS.L vs. GLDI.L
GBSS.L (Gold Bullion Securities) and GLDI.L (IncomeShares Gold+ Yield ETP) are both exchange-traded funds - GBSS.L is a Gold fund tracking the Gold, while GLDI.L is a Derivative Income fund actively managed by Leverage Shares. GBSS.L is passively managed, while GLDI.L is actively managed. Over the past year, GBSS.L returned 24.28% vs 14.77% for GLDI.L. A 0.80 correlation means they provide meaningful diversification when combined. GBSS.L charges 0.40%/yr vs 0.35%/yr for GLDI.L.
Performance
GBSS.L vs. GLDI.L - Performance Comparison
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Different Trading Currencies
GBSS.L is traded in GBp, while GLDI.L is traded in USD. To make them comparable, the GLDI.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GBSS.L achieves a -5.08% return, which is significantly higher than GLDI.L's -9.79% return.
GBSS.L
- 1D
- -0.06%
- 1M
- -9.20%
- YTD
- -5.08%
- 6M
- -8.68%
- 1Y
- 24.28%
- 3Y*
- 25.68%
- 5Y*
- 18.42%
- 10Y*
- 11.30%
GLDI.L
- 1D
- 0.00%
- 1M
- -6.97%
- YTD
- -9.79%
- 6M
- -12.75%
- 1Y
- 14.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBSS.L vs. GLDI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GBSS.L Gold Bullion Securities | -5.08% | 53.13% | 9.27% |
GLDI.L IncomeShares Gold+ Yield ETP | -9.79% | 44.90% | 5.01% |
Correlation
The correlation between GBSS.L and GLDI.L is 0.79, 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 | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2024 | 0.80 |
The correlation between GBSS.L and GLDI.L has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.
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Return for Risk
GBSS.L vs. GLDI.L — Risk / Return Rank
GBSS.L
GLDI.L
GBSS.L vs. GLDI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gold Bullion Securities (GBSS.L) and IncomeShares Gold+ Yield ETP (GLDI.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GBSS.L | GLDI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.14 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 0.66 | +0.38 |
| Martin ratioReturn relative to average drawdown | 2.92 | 1.78 | +1.14 |
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Drawdowns
GBSS.L vs. GLDI.L - Drawdown Comparison
The maximum GBSS.L drawdown since its inception was -45.24%, which is greater than GLDI.L's maximum drawdown of -22.42%. Use the drawdown chart below to compare losses from any high point for GBSS.L and GLDI.L.
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Drawdown Indicators
| GBSS.L | GLDI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.24% | -22.42% | -22.82% |
Max Drawdown (1Y)Largest decline over 1 year | -23.27% | -22.42% | -0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -23.27% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.27% | — | — |
Current DrawdownCurrent decline from peak | -23.27% | -21.58% | -1.69% |
Average DrawdownAverage peak-to-trough decline | -17.04% | -3.94% | -13.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.30% | 8.28% | +0.02% |
Volatility
GBSS.L vs. GLDI.L - Volatility Comparison
Gold Bullion Securities (GBSS.L) has a higher volatility of 8.19% compared to IncomeShares Gold+ Yield ETP (GLDI.L) at 7.44%. This indicates that GBSS.L's price experiences larger fluctuations and is considered to be riskier than GLDI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBSS.L | GLDI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.19% | 7.44% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 21.04% | 19.38% | +1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.89% | 22.35% | +1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.80% | 18.89% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 18.89% | -0.54% |
GBSS.L vs. GLDI.L - Expense Ratio Comparison
GBSS.L has a 0.40% expense ratio, which is higher than GLDI.L's 0.35% expense ratio.
Dividends
GBSS.L vs. GLDI.L - Dividend Comparison
GBSS.L has not paid dividends to shareholders, while GLDI.L's dividend yield for the trailing twelve months is around 6.81%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GBSS.L Gold Bullion Securities | 0.00% | 0.00% | 0.00% |
GLDI.L IncomeShares Gold+ Yield ETP | 6.81% | 6.28% | 0.50% |
Frequently Asked Questions
GBSS.L and GLDI.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDI.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDI.L is cheaper with a 0.35% expense ratio, compared with 0.40% for GBSS.L.
GBSS.L is categorized as Gold, while GLDI.L is Derivative Income. They also come from different issuers: WisdomTree and Leverage Shares. Their fees differ too: 0.40% for GBSS.L and 0.35% for GLDI.L.
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