GBSS.L vs. XSLR.DE
GBSS.L (Gold Bullion Securities) and XSLR.DE (Xtrackers IE Physical Silver ETC Securities) are both exchange-traded funds - GBSS.L is a Precious Metals fund tracking the Gold, while XSLR.DE is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 5 years, GBSS.L returned 19.51%/yr vs 22.56%/yr for XSLR.DE. A 0.63 correlation means they provide meaningful diversification when combined. GBSS.L charges 0.40%/yr vs 0.20%/yr for XSLR.DE.
Performance
GBSS.L vs. XSLR.DE - Performance Comparison
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Different Trading Currencies
GBSS.L is traded in GBp, while XSLR.DE is traded in EUR. To make them comparable, the XSLR.DE 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 3.71% return, which is significantly higher than XSLR.DE's -2.99% 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%
XSLR.DE
- 1D
- 0.53%
- 1M
- 1.21%
- YTD
- -2.99%
- 6M
- 28.35%
- 1Y
- 116.21%
- 3Y*
- 42.37%
- 5Y*
- 22.56%
- 10Y*
- —
GBSS.L vs. XSLR.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBSS.L Gold Bullion Securities | 3.71% | 53.13% | 27.82% | 6.96% | 11.51% | -3.12% | -1.42% |
XSLR.DE Xtrackers IE Physical Silver ETC Securities | -2.99% | 141.83% | 25.20% | -6.16% | 16.81% | -12.71% | 32.53% |
Correlation
The correlation between GBSS.L and XSLR.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020 | 0.63 |
The correlation between GBSS.L and XSLR.DE has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
GBSS.L vs. XSLR.DE — Risk / Return Rank
GBSS.L
XSLR.DE
GBSS.L vs. XSLR.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gold Bullion Securities (GBSS.L) and Xtrackers IE Physical Silver ETC Securities (XSLR.DE). 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 | XSLR.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.99 | -1.15 |
| Martin ratioReturn relative to average drawdown | 4.94 | 6.51 | -1.58 |
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 | XSLR.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 2.13 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.67 | +0.53 |
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 | 0.73 | -0.08 |
Drawdowns
GBSS.L vs. XSLR.DE - Drawdown Comparison
The maximum GBSS.L drawdown since its inception was -42.08%, which is greater than XSLR.DE's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for GBSS.L and XSLR.DE.
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Drawdown Indicators
| GBSS.L | XSLR.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.08% | -38.63% | -3.45% |
Max Drawdown (1Y)Largest decline over 1 year | -17.92% | -38.63% | +20.71% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -38.63% | +20.71% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | -38.63% | +20.71% |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | — | — |
Current DrawdownCurrent decline from peak | -16.16% | -33.50% | +17.34% |
Average DrawdownAverage peak-to-trough decline | -13.56% | -14.14% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.70% | 17.78% | -11.08% |
Volatility
GBSS.L vs. XSLR.DE - Volatility Comparison
The current volatility for Gold Bullion Securities (GBSS.L) is 5.05%, while Xtrackers IE Physical Silver ETC Securities (XSLR.DE) has a volatility of 16.14%. This indicates that GBSS.L experiences smaller price fluctuations and is considered to be less risky than XSLR.DE 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 | XSLR.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.05% | 16.14% | -11.09% |
Volatility (6M)Calculated over the trailing 6-month period | 19.82% | 51.76% | -31.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.96% | 54.37% | -31.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 33.03% | -16.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 32.96% | -17.19% |
GBSS.L vs. XSLR.DE - Expense Ratio Comparison
GBSS.L has a 0.40% expense ratio, which is higher than XSLR.DE's 0.20% expense ratio.
Dividends
GBSS.L vs. XSLR.DE - Dividend Comparison
Neither GBSS.L nor XSLR.DE has paid dividends to shareholders.
Frequently Asked Questions
GBSS.L and XSLR.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSLR.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSLR.DE is cheaper with a 0.20% expense ratio, compared with 0.40% for GBSS.L.
GBSS.L is categorized as Precious Metals, while XSLR.DE is Silver. GBSS.L tracks Gold, while XSLR.DE tracks LBMA Silver Price. They also come from different issuers: WisdomTree and Xtrackers. Their fees differ too: 0.40% for GBSS.L and 0.20% for XSLR.DE.
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