GLDW.L vs. BRNT.L
GLDW.L (WisdomTree Core Physical Gold) and BRNT.L (WisdomTree Brent Crude Oil) are both exchange-traded funds - GLDW.L is a Precious Metals fund tracking the Gold, while BRNT.L is a Oil & Gas fund tracking the Bloomberg Brent Crude Subindex. Both are passively managed. Over the past 5 years, GLDW.L returned 19.87%/yr vs 24.84%/yr for BRNT.L. At a 0.08 correlation, their price movements are largely independent. GLDW.L charges 0.12%/yr vs 0.49%/yr for BRNT.L.
Performance
GLDW.L vs. BRNT.L - Performance Comparison
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Different Trading Currencies
GLDW.L is traded in GBp, while BRNT.L is traded in USD. To make them comparable, the BRNT.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 lower than BRNT.L's 80.86% 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*
- —
BRNT.L
- 1D
- -2.63%
- 1M
- -8.78%
- YTD
- 80.86%
- 6M
- 74.99%
- 1Y
- 86.41%
- 3Y*
- 21.44%
- 5Y*
- 24.84%
- 10Y*
- 14.44%
GLDW.L vs. BRNT.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% |
BRNT.L WisdomTree Brent Crude Oil | 80.86% | -13.01% | 9.33% | -3.98% | 51.16% | 26.51% |
Correlation
The correlation between GLDW.L and BRNT.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2021 | 0.08 |
The correlation between GLDW.L and BRNT.L shifts across timeframes, from -0.13 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLDW.L vs. BRNT.L — Risk / Return Rank
GLDW.L
BRNT.L
GLDW.L vs. BRNT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Core Physical Gold (GLDW.L) and WisdomTree Brent Crude Oil (BRNT.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 | BRNT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.35 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 4.67 | -2.79 |
| Martin ratioReturn relative to average drawdown | 5.05 | 8.70 | -3.65 |
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
| GLDW.L | BRNT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 1.96 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.71 | +0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.30 | 0.08 | +1.22 |
Drawdowns
GLDW.L vs. BRNT.L - Drawdown Comparison
The maximum GLDW.L drawdown since its inception was -17.86%, smaller than the maximum BRNT.L drawdown of -82.19%. Use the drawdown chart below to compare losses from any high point for GLDW.L and BRNT.L.
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Drawdown Indicators
| GLDW.L | BRNT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.86% | -82.19% | +64.33% |
Max Drawdown (1Y)Largest decline over 1 year | -17.86% | -18.40% | +0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -17.86% | -27.96% | +10.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.86% | -34.39% | +16.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.61% | — |
Current DrawdownCurrent decline from peak | -15.93% | -8.90% | -7.03% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -41.49% | +37.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.65% | 9.90% | -3.25% |
Volatility
GLDW.L vs. BRNT.L - Volatility Comparison
The current volatility for WisdomTree Core Physical Gold (GLDW.L) is 5.09%, while WisdomTree Brent Crude Oil (BRNT.L) has a volatility of 15.69%. This indicates that GLDW.L experiences smaller price fluctuations and is considered to be less risky than BRNT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDW.L | BRNT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 15.69% | -10.60% |
Volatility (6M)Calculated over the trailing 6-month period | 19.81% | 38.01% | -18.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.95% | 43.83% | -20.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 35.10% | -19.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.94% | 35.53% | -19.59% |
GLDW.L vs. BRNT.L - Expense Ratio Comparison
GLDW.L has a 0.12% expense ratio, which is lower than BRNT.L's 0.49% expense ratio.
Dividends
GLDW.L vs. BRNT.L - Dividend Comparison
Neither GLDW.L nor BRNT.L has paid dividends to shareholders.
Frequently Asked Questions
GLDW.L and BRNT.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GLDW.L is cheaper with a 0.12% expense ratio, compared with 0.49% for BRNT.L.
GLDW.L is categorized as Precious Metals, while BRNT.L is Oil & Gas. GLDW.L tracks Gold, while BRNT.L tracks Bloomberg Brent Crude Subindex. Their fees differ too: 0.12% for GLDW.L and 0.49% for BRNT.L.
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