GLDW.L vs. 3GOL.L

Last updated Jun 5, 2026

GLDW.L (WisdomTree Core Physical Gold) and 3GOL.L (WisdomTree Gold 3x Daily Leveraged) are both exchange-traded funds - GLDW.L is a Precious Metals fund tracking the Gold, while 3GOL.L is a Leveraged Commodities fund tracking the Solactive Gold Commodity Futures SL Index (300%). Both are passively managed. Over the past 5 years, GLDW.L returned 19.87%/yr vs 35.62%/yr for 3GOL.L. Their correlation of 0.86 suggests significant overlap in exposure. GLDW.L charges 0.12%/yr vs 0.99%/yr for 3GOL.L.

Performance

GLDW.L vs. 3GOL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Core Physical Gold (GLDW.L) and WisdomTree Gold 3x Daily Leveraged (3GOL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GLDW.L is traded in GBp, while 3GOL.L is traded in USD. To make them comparable, the 3GOL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLDW.L achieves a 3.96% return, which is significantly higher than 3GOL.L's -10.00% return.

GLDW.L

• 1D: 0.63%
• 1M: -1.34%
• YTD: 3.96%
• 6M: 5.38%
• 1Y: 33.68%
• 3Y*: 28.15%
• 5Y*: 19.87%
• 10Y*: —

3GOL.L

• 1D: 1.95%
• 1M: -7.90%
• YTD: -10.00%
• 6M: -7.29%
• 1Y: 61.17%
• 3Y*: 67.73%
• 5Y*: 35.62%
• 10Y*: 22.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GLDW.L vs. 3GOL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GLDW.L WisdomTree Core Physical Gold	3.96%	53.57%	28.18%	7.26%	11.82%	9.07%
3GOL.L WisdomTree Gold 3x Daily Leveraged	-10.00%	212.21%	63.34%	14.25%	-3.63%	11.74%

Correlation

The correlation between GLDW.L and 3GOL.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Mar 16, 2021	0.86

The correlation between GLDW.L and 3GOL.L has been stable across timeframes, ranging from 0.86 to 0.96 - a consistent structural relationship.

Return for Risk

GLDW.L vs. 3GOL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLDW.L

GLDW.L Risk / Return Rank: 40
GLDW.L Sharpe Ratio Rank: 42
GLDW.L Sortino Ratio Rank: 37
GLDW.L Omega Ratio Rank: 47
GLDW.L Calmar Ratio Rank: 39
GLDW.L Martin Ratio Rank: 34

3GOL.L

3GOL.L Risk / Return Rank: 25
3GOL.L Sharpe Ratio Rank: 23
3GOL.L Sortino Ratio Rank: 26
3GOL.L Omega Ratio Rank: 30
3GOL.L Calmar Ratio Rank: 25
3GOL.L Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLDW.L vs. 3GOL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Core Physical Gold (GLDW.L) and WisdomTree Gold 3x Daily Leveraged (3GOL.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.

	GLDW.L	3GOL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.82	+0.64
Sortino ratio: Return per unit of downside risk	1.90	1.39	+0.51
Omega ratio: Gain probability vs. loss probability	1.29	1.20	+0.09
Calmar ratio: Return relative to maximum drawdown	1.88	1.23	+0.65
Martin ratio: Return relative to average drawdown	5.05	2.80	+2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLDW.L vs. 3GOL.L - Sharpe Ratio Comparison

The current GLDW.L Sharpe Ratio is 1.46, which is higher than the 3GOL.L Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of GLDW.L and 3GOL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GLDW.L	3GOL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	0.82	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	0.70	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.14	+1.16

Drawdowns

GLDW.L vs. 3GOL.L - Drawdown Comparison

The maximum GLDW.L drawdown since its inception was -17.86%, smaller than the maximum 3GOL.L drawdown of -82.62%. Use the drawdown chart below to compare losses from any high point for GLDW.L and 3GOL.L.

Drawdown Indicators

	GLDW.L	3GOL.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.86%	-82.62%	+64.76%
Max Drawdown (1Y) Largest decline over 1 year	-17.86%	-49.50%	+31.64%
Max Drawdown (3Y) Largest decline over 3 years	-17.86%	-49.50%	+31.64%
Max Drawdown (5Y) Largest decline over 5 years	-17.86%	-49.50%	+31.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-57.98%	—
Current Drawdown Current decline from peak	-15.93%	-48.51%	+32.58%
Average Drawdown Average peak-to-trough decline	-3.58%	-54.54%	+50.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.65%	21.79%	-15.14%

Volatility

GLDW.L vs. 3GOL.L - Volatility Comparison

The current volatility for WisdomTree Core Physical Gold (GLDW.L) is 5.09%, while WisdomTree Gold 3x Daily Leveraged (3GOL.L) has a volatility of 18.63%. This indicates that GLDW.L experiences smaller price fluctuations and is considered to be less risky than 3GOL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDW.L	3GOL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.09%	18.63%	-13.54%
Volatility (6M) Calculated over the trailing 6-month period	19.81%	65.58%	-45.77%
Volatility (1Y) Calculated over the trailing 1-year period	22.95%	73.84%	-50.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.09%	50.78%	-34.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.94%	47.63%	-31.69%

GLDW.L vs. 3GOL.L - Expense Ratio Comparison

GLDW.L has a 0.12% expense ratio, which is lower than 3GOL.L's 0.99% expense ratio.

Dividends

GLDW.L vs. 3GOL.L - Dividend Comparison

Neither GLDW.L nor 3GOL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLDW.L and 3GOL.L in my portfolio?

With a correlation of 0.96, GLDW.L and 3GOL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GLDW.L or 3GOL.L?

On fees, GLDW.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDW.L or 3GOL.L?

GLDW.L is cheaper with a 0.12% expense ratio, compared with 0.99% for 3GOL.L.

What is the main difference between GLDW.L and 3GOL.L?

GLDW.L is categorized as Precious Metals, while 3GOL.L is Leveraged Commodities. GLDW.L tracks Gold, while 3GOL.L tracks Solactive Gold Commodity Futures SL Index (300%). Their fees differ too: 0.12% for GLDW.L and 0.99% for 3GOL.L.