GBSS.L vs. PHPP.L
GBSS.L (Gold Bullion Securities) and PHPP.L (WisdomTree Physical Precious Metals) are both Precious Metals funds from WisdomTree - GBSS.L tracks the Gold while PHPP.L tracks the Precious Metals Basket. Both are passively managed. Over the past 10 years, GBSS.L returned 13.99%/yr vs 13.52%/yr for PHPP.L. A 0.73 correlation means they provide meaningful diversification when combined. GBSS.L charges 0.40%/yr vs 0.44%/yr for PHPP.L.
Performance
GBSS.L vs. PHPP.L - Performance Comparison
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Returns By Period
In the year-to-date period, GBSS.L achieves a 3.71% return, which is significantly higher than PHPP.L's 0.99% return. Both investments have delivered pretty close results over the past 10 years, with GBSS.L having a 13.99% annualized return and PHPP.L not far behind at 13.52%.
GBSS.L
- 1D
- 0.61%
- 1M
- -1.48%
- YTD
- 3.71%
- 6M
- 5.10%
- 1Y
- 33.15%
- 3Y*
- 27.74%
- 5Y*
- 19.51%
- 10Y*
- 13.99%
PHPP.L
- 1D
- 0.37%
- 1M
- -1.92%
- YTD
- 0.99%
- 6M
- 9.62%
- 1Y
- 51.59%
- 3Y*
- 25.31%
- 5Y*
- 12.75%
- 10Y*
- 13.52%
GBSS.L vs. PHPP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBSS.L Gold Bullion Securities | 3.71% | 53.13% | 27.82% | 6.96% | 11.51% | -3.12% | 19.73% | 14.42% | 4.17% | 1.53% |
PHPP.L WisdomTree Physical Precious Metals | 0.99% | 72.45% | 17.27% | -8.55% | 11.64% | -10.26% | 22.29% | 22.41% | 5.44% | 5.38% |
Correlation
The correlation between GBSS.L and PHPP.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2007 | 0.73 |
The correlation between GBSS.L and PHPP.L shifts across timeframes, from 0.73 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBSS.L vs. PHPP.L — Risk / Return Rank
GBSS.L
PHPP.L
GBSS.L vs. PHPP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gold Bullion Securities (GBSS.L) and WisdomTree Physical Precious Metals (PHPP.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.
| GBSS.L | PHPP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.11 | -0.27 |
| Martin ratioReturn relative to average drawdown | 4.94 | 5.01 | -0.08 |
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
| GBSS.L | PHPP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.61 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.59 | +0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.68 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.51 | +0.15 |
Drawdowns
GBSS.L vs. PHPP.L - Drawdown Comparison
The maximum GBSS.L drawdown since its inception was -42.08%, smaller than the maximum PHPP.L drawdown of -49.43%. Use the drawdown chart below to compare losses from any high point for GBSS.L and PHPP.L.
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Drawdown Indicators
| GBSS.L | PHPP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.08% | -49.43% | +7.35% |
Max Drawdown (1Y)Largest decline over 1 year | -17.92% | -24.37% | +6.45% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -24.37% | +6.45% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | -26.89% | +8.97% |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | -26.89% | +4.48% |
Current DrawdownCurrent decline from peak | -16.16% | -22.56% | +6.40% |
Average DrawdownAverage peak-to-trough decline | -13.56% | -18.70% | +5.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.70% | 10.26% | -3.56% |
Volatility
GBSS.L vs. PHPP.L - Volatility Comparison
The current volatility for Gold Bullion Securities (GBSS.L) is 5.05%, while WisdomTree Physical Precious Metals (PHPP.L) has a volatility of 7.69%. This indicates that GBSS.L experiences smaller price fluctuations and is considered to be less risky than PHPP.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 | PHPP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.05% | 7.69% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 19.82% | 29.24% | -9.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.96% | 31.86% | -8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 21.47% | -5.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 19.84% | -4.07% |
GBSS.L vs. PHPP.L - Expense Ratio Comparison
GBSS.L has a 0.40% expense ratio, which is lower than PHPP.L's 0.44% expense ratio.
Dividends
GBSS.L vs. PHPP.L - Dividend Comparison
Neither GBSS.L nor PHPP.L has paid dividends to shareholders.
Frequently Asked Questions
GBSS.L and PHPP.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBSS.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBSS.L is cheaper with a 0.40% expense ratio, compared with 0.44% for PHPP.L.
GBSS.L tracks Gold, while PHPP.L tracks Precious Metals Basket. Their fees differ too: 0.40% for GBSS.L and 0.44% for PHPP.L.
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