GBSS.L vs. PPDX.L
GBSS.L (Gold Bullion Securities) and PPDX.L (WisdomTree Physical Palladium) are both Precious Metals funds from WisdomTree - GBSS.L tracks the Gold while PPDX.L tracks the LBMA Palladium Price. Both are passively managed. Over the past 3 years, GBSS.L returned 27.74%/yr vs -5.05%/yr for PPDX.L. At a 0.35 correlation, their price movements are largely independent. GBSS.L charges 0.40%/yr vs 0.49%/yr for PPDX.L.
Performance
GBSS.L vs. PPDX.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 PPDX.L's -16.56% return.
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%
PPDX.L
- 1D
- -0.97%
- 1M
- -11.53%
- YTD
- -16.56%
- 6M
- -9.20%
- 1Y
- 33.57%
- 3Y*
- -5.05%
- 5Y*
- —
- 10Y*
- —
GBSS.L vs. PPDX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GBSS.L Gold Bullion Securities | 3.71% | 53.13% | 27.82% | 5.53% |
PPDX.L WisdomTree Physical Palladium | -16.56% | 62.02% | -18.11% | -42.16% |
Correlation
The correlation between GBSS.L and PPDX.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2023 | 0.35 |
The correlation between GBSS.L and PPDX.L shifts across timeframes, from 0.35 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBSS.L vs. PPDX.L — Risk / Return Rank
GBSS.L
PPDX.L
GBSS.L vs. PPDX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gold Bullion Securities (GBSS.L) and WisdomTree Physical Palladium (PPDX.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 | PPDX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.16 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 0.90 | +0.94 |
| Martin ratioReturn relative to average drawdown | 4.94 | 1.98 | +2.95 |
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 | PPDX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 0.76 | +0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | -0.29 | +0.94 |
Drawdowns
GBSS.L vs. PPDX.L - Drawdown Comparison
The maximum GBSS.L drawdown since its inception was -42.08%, smaller than the maximum PPDX.L drawdown of -55.42%. Use the drawdown chart below to compare losses from any high point for GBSS.L and PPDX.L.
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Drawdown Indicators
| GBSS.L | PPDX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.08% | -55.42% | +13.34% |
Max Drawdown (1Y)Largest decline over 1 year | -17.92% | -37.14% | +19.22% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -40.59% | +22.67% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | — | — |
Current DrawdownCurrent decline from peak | -16.16% | -37.14% | +20.98% |
Average DrawdownAverage peak-to-trough decline | -13.56% | -39.57% | +26.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.70% | 16.88% | -10.18% |
Volatility
GBSS.L vs. PPDX.L - Volatility Comparison
The current volatility for Gold Bullion Securities (GBSS.L) is 5.05%, while WisdomTree Physical Palladium (PPDX.L) has a volatility of 9.53%. This indicates that GBSS.L experiences smaller price fluctuations and is considered to be less risky than PPDX.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 | PPDX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.05% | 9.53% | -4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 19.82% | 36.45% | -16.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.96% | 44.20% | -21.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 44.44% | -28.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 44.44% | -28.67% |
GBSS.L vs. PPDX.L - Expense Ratio Comparison
GBSS.L has a 0.40% expense ratio, which is lower than PPDX.L's 0.49% expense ratio.
Dividends
GBSS.L vs. PPDX.L - Dividend Comparison
Neither GBSS.L nor PPDX.L has paid dividends to shareholders.
Frequently Asked Questions
GBSS.L and PPDX.L have a correlation of 0.52, 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 0.49% for PPDX.L.
GBSS.L tracks Gold, while PPDX.L tracks LBMA Palladium Price. Their fees differ too: 0.40% for GBSS.L and 0.49% for PPDX.L.
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