GBSS.L vs. SPLT.L
GBSS.L (Gold Bullion Securities) and SPLT.L (iShares Physical Platinum ETC) are both Precious Metals funds - GBSS.L tracks the Gold while SPLT.L tracks the Platinum. Both are passively managed. Over the past 10 years, GBSS.L returned 14.02%/yr vs 7.29%/yr for SPLT.L. At a 0.49 correlation, their price movements are largely independent. GBSS.L charges 0.40%/yr vs 0.20%/yr for SPLT.L.
Performance
GBSS.L vs. SPLT.L - Performance Comparison
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Returns By Period
In the year-to-date period, GBSS.L achieves a 3.09% return, which is significantly higher than SPLT.L's -5.46% return. Over the past 10 years, GBSS.L has outperformed SPLT.L with an annualized return of 14.02%, while SPLT.L has yielded a comparatively lower 7.29% annualized return.
GBSS.L
- 1D
- -1.16%
- 1M
- -2.90%
- YTD
- 3.09%
- 6M
- 4.31%
- 1Y
- 32.90%
- 3Y*
- 27.55%
- 5Y*
- 19.36%
- 10Y*
- 14.02%
SPLT.L
- 1D
- -2.76%
- 1M
- -4.29%
- YTD
- -5.46%
- 6M
- 12.93%
- 1Y
- 75.98%
- 3Y*
- 20.01%
- 5Y*
- 11.03%
- 10Y*
- 7.29%
GBSS.L vs. SPLT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBSS.L Gold Bullion Securities | 3.09% | 53.13% | 27.82% | 6.96% | 11.51% | -3.12% | 19.73% | 14.42% | 4.17% | 1.53% |
SPLT.L iShares Physical Platinum ETC | -5.46% | 104.63% | -8.37% | -10.78% | 23.96% | -10.18% | 7.04% | 17.70% | -9.90% | -6.89% |
Correlation
The correlation between GBSS.L and SPLT.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.49 |
The correlation between GBSS.L and SPLT.L shifts across timeframes, from 0.43 (5 years) to 0.60 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBSS.L vs. SPLT.L — Risk / Return Rank
GBSS.L
SPLT.L
GBSS.L vs. SPLT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gold Bullion Securities (GBSS.L) and iShares Physical Platinum ETC (SPLT.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 | SPLT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.23 | -0.40 |
| Martin ratioReturn relative to average drawdown | 4.96 | 4.65 | +0.31 |
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 | SPLT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.61 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.20 | 0.36 | +0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.26 | +0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.05 | +0.60 |
Drawdowns
GBSS.L vs. SPLT.L - Drawdown Comparison
The maximum GBSS.L drawdown since its inception was -42.08%, smaller than the maximum SPLT.L drawdown of -58.05%. Use the drawdown chart below to compare losses from any high point for GBSS.L and SPLT.L.
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Drawdown Indicators
| GBSS.L | SPLT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.08% | -58.05% | +15.97% |
Max Drawdown (1Y)Largest decline over 1 year | -17.92% | -33.87% | +15.95% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -33.87% | +15.95% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | -33.87% | +15.95% |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | -45.00% | +22.59% |
Current DrawdownCurrent decline from peak | -16.67% | -32.56% | +15.89% |
Average DrawdownAverage peak-to-trough decline | -13.55% | -34.19% | +20.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 16.29% | -9.67% |
Volatility
GBSS.L vs. SPLT.L - Volatility Comparison
The current volatility for Gold Bullion Securities (GBSS.L) is 5.06%, while iShares Physical Platinum ETC (SPLT.L) has a volatility of 11.00%. This indicates that GBSS.L experiences smaller price fluctuations and is considered to be less risky than SPLT.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 | SPLT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 11.00% | -5.94% |
Volatility (6M)Calculated over the trailing 6-month period | 19.83% | 41.59% | -21.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.97% | 47.08% | -24.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 30.48% | -14.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 27.93% | -12.16% |
GBSS.L vs. SPLT.L - Expense Ratio Comparison
GBSS.L has a 0.40% expense ratio, which is higher than SPLT.L's 0.20% expense ratio.
Dividends
GBSS.L vs. SPLT.L - Dividend Comparison
Neither GBSS.L nor SPLT.L has paid dividends to shareholders.
Frequently Asked Questions
GBSS.L and SPLT.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPLT.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPLT.L is cheaper with a 0.20% expense ratio, compared with 0.40% for GBSS.L.
GBSS.L tracks Gold, while SPLT.L tracks Platinum. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.40% for GBSS.L and 0.20% for SPLT.L.
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