GLAG.MI vs. PHGP.L
GLAG.MI (SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist)) and PHGP.L (WisdomTree Physical Gold) are both exchange-traded funds - GLAG.MI is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index, while PHGP.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 5 years, GLAG.MI returned -1.07%/yr vs 19.38%/yr for PHGP.L. At a 0.27 correlation, their price movements are largely independent. GLAG.MI charges 0.10%/yr vs 0.39%/yr for PHGP.L.
Performance
GLAG.MI vs. PHGP.L - Performance Comparison
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Different Trading Currencies
GLAG.MI is traded in EUR, while PHGP.L is traded in GBp. To make them comparable, the PHGP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLAG.MI achieves a 0.94% return, which is significantly lower than PHGP.L's 4.74% return.
GLAG.MI
- 1D
- 0.02%
- 1M
- 0.79%
- YTD
- 0.94%
- 6M
- 0.42%
- 1Y
- 0.22%
- 3Y*
- 0.34%
- 5Y*
- -1.07%
- 10Y*
- —
PHGP.L
- 1D
- 0.62%
- 1M
- -1.60%
- YTD
- 4.74%
- 6M
- 6.34%
- 1Y
- 29.79%
- 3Y*
- 27.60%
- 5Y*
- 19.38%
- 10Y*
- 12.94%
GLAG.MI vs. PHGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLAG.MI SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) | 0.94% | -4.81% | 4.42% | 1.76% | -11.19% | 2.81% | -0.84% | 8.95% | 5.77% |
PHGP.L WisdomTree Physical Gold | 4.74% | 45.16% | 34.02% | 9.24% | 5.77% | 3.20% | 13.24% | 21.75% | 3.04% |
Correlation
The correlation between GLAG.MI and PHGP.L is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2018 | 0.27 |
Over the past year, the correlation between GLAG.MI and PHGP.L has dropped to 0.02 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.
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Return for Risk
GLAG.MI vs. PHGP.L — Risk / Return Rank
GLAG.MI
PHGP.L
GLAG.MI vs. PHGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) (GLAG.MI) and WisdomTree Physical Gold (PHGP.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.
| GLAG.MI | PHGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.26 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 1.76 | -1.66 |
| Martin ratioReturn relative to average drawdown | 0.20 | 4.46 | -4.26 |
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
| GLAG.MI | PHGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | 1.29 | -1.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.18 | 1.18 | -1.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.61 | -0.47 |
Drawdowns
GLAG.MI vs. PHGP.L - Drawdown Comparison
The maximum GLAG.MI drawdown since its inception was -16.12%, smaller than the maximum PHGP.L drawdown of -37.17%. Use the drawdown chart below to compare losses from any high point for GLAG.MI and PHGP.L.
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Drawdown Indicators
| GLAG.MI | PHGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.12% | -37.17% | +21.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.30% | -16.83% | +14.53% |
Max Drawdown (3Y)Largest decline over 3 years | -7.59% | -16.83% | +9.24% |
Max Drawdown (5Y)Largest decline over 5 years | -15.05% | -16.83% | +1.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.60% | — |
Current DrawdownCurrent decline from peak | -11.60% | -15.41% | +3.81% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -12.39% | +5.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 6.66% | -5.47% |
Volatility
GLAG.MI vs. PHGP.L - Volatility Comparison
The current volatility for SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) (GLAG.MI) is 0.98%, while WisdomTree Physical Gold (PHGP.L) has a volatility of 5.06%. This indicates that GLAG.MI experiences smaller price fluctuations and is considered to be less risky than PHGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLAG.MI | PHGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 5.06% | -4.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 20.09% | -17.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 23.07% | -19.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.88% | 16.35% | -10.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.61% | 14.87% | -9.26% |
GLAG.MI vs. PHGP.L - Expense Ratio Comparison
GLAG.MI has a 0.10% expense ratio, which is lower than PHGP.L's 0.39% expense ratio.
Dividends
GLAG.MI vs. PHGP.L - Dividend Comparison
GLAG.MI's dividend yield for the trailing twelve months is around 2.68%, while PHGP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLAG.MI SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) | 2.68% | 2.96% | 2.46% | 1.86% | 1.39% | 0.98% | 1.40% | 1.50% | 0.81% |
PHGP.L WisdomTree Physical Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLAG.MI and PHGP.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAG.MI is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAG.MI is cheaper with a 0.10% expense ratio, compared with 0.39% for PHGP.L.
GLAG.MI is categorized as Global Bonds, while PHGP.L is Precious Metals. GLAG.MI tracks Bloomberg Global Aggregate Bond Index, while PHGP.L tracks Gold. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.10% for GLAG.MI and 0.39% for PHGP.L.
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