GLD vs. PHPP.L
GLD (SPDR Gold Shares) and PHPP.L (WisdomTree Physical Precious Metals) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while PHPP.L is a Precious Metals fund tracking the Precious Metals Basket. Both are passively managed. Over the past 10 years, GLD returned 12.16%/yr vs 11.28%/yr for PHPP.L. A 0.63 correlation means they provide meaningful diversification when combined. GLD charges 0.40%/yr vs 0.44%/yr for PHPP.L.
Performance
GLD vs. PHPP.L - Performance Comparison
Loading charts...
Different Trading Currencies
GLD is traded in USD, while PHPP.L is traded in GBp. To make them comparable, the PHPP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLD achieves a -2.52% return, which is significantly higher than PHPP.L's -8.71% return. Over the past 10 years, GLD has outperformed PHPP.L with an annualized return of 12.16%, while PHPP.L has yielded a comparatively lower 11.28% annualized return.
GLD
- 1D
- 3.13%
- 1M
- -10.77%
- YTD
- -2.52%
- 6M
- -1.76%
- 1Y
- 25.28%
- 3Y*
- 28.54%
- 5Y*
- 17.06%
- 10Y*
- 12.16%
PHPP.L
- 1D
- -0.36%
- 1M
- -16.12%
- YTD
- -8.71%
- 6M
- -3.35%
- 1Y
- 33.36%
- 3Y*
- 24.82%
- 5Y*
- 9.53%
- 10Y*
- 11.28%
GLD vs. PHPP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | -2.52% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
PHPP.L WisdomTree Physical Precious Metals | -8.71% | 85.47% | 15.31% | -3.73% | -0.29% | -11.08% | 26.04% | 27.32% | -0.53% | 15.41% |
Correlation
The correlation between GLD and PHPP.L is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.63 |
The correlation between GLD and PHPP.L shifts across timeframes, from 0.63 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.
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
GLD vs. PHPP.L — Risk / Return Rank
GLD
PHPP.L
GLD vs. PHPP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and WisdomTree Physical Precious Metals (PHPP.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GLD | PHPP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 1.05 | -0.01 |
| Martin ratioReturn relative to average drawdown | 3.02 | 2.72 | +0.31 |
Loading charts...
Drawdowns
GLD vs. PHPP.L - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum PHPP.L drawdown of -70.33%. Use the drawdown chart below to compare losses from any high point for GLD and PHPP.L.
Loading charts...
Drawdown Indicators
| GLD | PHPP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -70.33% | +24.77% |
Max Drawdown (1Y)Largest decline over 1 year | -24.46% | -31.77% | +7.31% |
Max Drawdown (3Y)Largest decline over 3 years | -24.46% | -31.77% | +7.31% |
Max Drawdown (5Y)Largest decline over 5 years | -24.46% | -31.77% | +7.31% |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | -31.77% | +7.31% |
Current DrawdownCurrent decline from peak | -22.10% | -31.77% | +9.67% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -37.55% | +21.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.38% | 12.25% | -3.87% |
Volatility
GLD vs. PHPP.L - Volatility Comparison
The current volatility for SPDR Gold Shares (GLD) is 7.77%, while WisdomTree Physical Precious Metals (PHPP.L) has a volatility of 8.59%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky than PHPP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLD | PHPP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.77% | 8.59% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 24.10% | 31.09% | -6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.37% | 33.71% | -6.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.23% | 23.53% | -5.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 20.89% | -4.81% |
GLD vs. PHPP.L - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is lower than PHPP.L's 0.44% expense ratio.
Dividends
GLD vs. PHPP.L - Dividend Comparison
Neither GLD nor PHPP.L has paid dividends to shareholders.
Frequently Asked Questions
GLD and PHPP.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLD is cheaper with a 0.40% expense ratio, compared with 0.44% for PHPP.L.
GLD is categorized as Gold, while PHPP.L is Precious Metals. GLD tracks LBMA Gold Price PM, while PHPP.L tracks Precious Metals Basket. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.40% for GLD and 0.44% for PHPP.L.
Find the right allocation for GLD and PHPP.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