GBSS.L vs. SSLN.L
GBSS.L (Gold Bullion Securities) and SSLN.L (iShares Physical Silver ETC) are both exchange-traded funds - GBSS.L is a Precious Metals fund tracking the Gold, while SSLN.L is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, GBSS.L returned 14.02%/yr vs 16.77%/yr for SSLN.L. A 0.70 correlation means they provide meaningful diversification when combined. GBSS.L charges 0.40%/yr vs 0.20%/yr for SSLN.L.
Performance
GBSS.L vs. SSLN.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GBSS.L achieves a 3.09% return, which is significantly higher than SSLN.L's 2.69% return. Over the past 10 years, GBSS.L has underperformed SSLN.L with an annualized return of 14.02%, while SSLN.L has yielded a comparatively higher 16.77% 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%
SSLN.L
- 1D
- -3.04%
- 1M
- -2.09%
- YTD
- 2.69%
- 6M
- 23.96%
- 1Y
- 113.86%
- 3Y*
- 41.85%
- 5Y*
- 22.87%
- 10Y*
- 16.77%
GBSS.L vs. SSLN.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% |
SSLN.L iShares Physical Silver ETC | 2.69% | 130.26% | 23.21% | -6.20% | 15.75% | -11.64% | 40.73% | 12.68% | -3.48% | -5.59% |
Correlation
The correlation between GBSS.L and SSLN.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.70 |
The correlation between GBSS.L and SSLN.L has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GBSS.L vs. SSLN.L — Risk / Return Rank
GBSS.L
SSLN.L
GBSS.L vs. SSLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gold Bullion Securities (GBSS.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.
| GBSS.L | SSLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.92 | -1.10 |
| Martin ratioReturn relative to average drawdown | 4.96 | 6.46 | -1.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| GBSS.L | SSLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 2.08 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.20 | 0.69 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.57 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.17 | +0.48 |
Drawdowns
GBSS.L vs. SSLN.L - Drawdown Comparison
The maximum GBSS.L drawdown since its inception was -42.08%, smaller than the maximum SSLN.L drawdown of -69.95%. Use the drawdown chart below to compare losses from any high point for GBSS.L and SSLN.L.
Loading charts...
Drawdown Indicators
| GBSS.L | SSLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.08% | -69.95% | +27.87% |
Max Drawdown (1Y)Largest decline over 1 year | -17.92% | -38.72% | +20.80% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -38.72% | +20.80% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | -38.72% | +20.80% |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | -38.72% | +16.31% |
Current DrawdownCurrent decline from peak | -16.67% | -33.93% | +17.26% |
Average DrawdownAverage peak-to-trough decline | -13.55% | -45.32% | +31.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 17.56% | -10.94% |
Volatility
GBSS.L vs. SSLN.L - Volatility Comparison
The current volatility for Gold Bullion Securities (GBSS.L) is 5.06%, while iShares Physical Silver ETC (SSLN.L) has a volatility of 16.55%. This indicates that GBSS.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.
Loading charts...
Volatility by Period
| GBSS.L | SSLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 16.55% | -11.49% |
Volatility (6M)Calculated over the trailing 6-month period | 19.83% | 52.03% | -32.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.97% | 54.53% | -31.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 33.31% | -17.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 29.70% | -13.93% |
GBSS.L vs. SSLN.L - Expense Ratio Comparison
GBSS.L has a 0.40% expense ratio, which is higher than SSLN.L's 0.20% expense ratio.
Dividends
GBSS.L vs. SSLN.L - Dividend Comparison
Neither GBSS.L nor SSLN.L has paid dividends to shareholders.
Frequently Asked Questions
GBSS.L and SSLN.L have a correlation of 0.72, 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 0.40% for GBSS.L.
GBSS.L is categorized as Precious Metals, while SSLN.L is Silver. GBSS.L tracks Gold, while SSLN.L tracks LBMA Silver Price. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.40% for GBSS.L and 0.20% for SSLN.L.
Find the right allocation for GBSS.L and SSLN.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer