IAUP.L vs. PHGP.L
IAUP.L (iShares Gold Producers UCITS ETF USD Acc) and PHGP.L (WisdomTree Physical Gold) are both Gold funds - IAUP.L tracks the S&P Commodity Producers Gold Index while PHGP.L tracks the Gold. Both are passively managed. Over the past 10 years, IAUP.L returned 12.04%/yr vs 11.30%/yr for PHGP.L. A 0.73 correlation means they provide meaningful diversification when combined. IAUP.L charges 0.55%/yr vs 0.39%/yr for PHGP.L.
Performance
IAUP.L vs. PHGP.L - Performance Comparison
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Different Trading Currencies
IAUP.L is traded in USD, while PHGP.L is traded in GBp. To make them comparable, the PHGP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IAUP.L achieves a -10.46% return, which is significantly lower than PHGP.L's -6.88% return. Over the past 10 years, IAUP.L has outperformed PHGP.L with an annualized return of 12.04%, while PHGP.L has yielded a comparatively lower 11.30% annualized return.
IAUP.L
- 1D
- 1.39%
- 1M
- -12.71%
- YTD
- -10.46%
- 6M
- -14.81%
- 1Y
- 49.45%
- 3Y*
- 38.46%
- 5Y*
- 18.45%
- 10Y*
- 12.04%
PHGP.L
- 1D
- 0.24%
- 1M
- -10.84%
- YTD
- -6.88%
- 6M
- -10.67%
- 1Y
- 20.08%
- 3Y*
- 27.28%
- 5Y*
- 17.28%
- 10Y*
- 11.30%
IAUP.L vs. PHGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAUP.L iShares Gold Producers UCITS ETF USD Acc | -10.46% | 153.99% | 11.49% | 9.43% | -11.06% | -10.31% | 23.60% | 45.60% | -9.55% | 6.68% |
PHGP.L WisdomTree Physical Gold | -6.88% | 64.70% | 25.72% | 12.61% | -0.40% | -3.99% | 23.41% | 19.06% | -1.72% | 11.22% |
Correlation
The correlation between IAUP.L and PHGP.L is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011 | 0.73 |
The correlation between IAUP.L and PHGP.L has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.
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Return for Risk
IAUP.L vs. PHGP.L — Risk / Return Rank
IAUP.L
PHGP.L
IAUP.L vs. PHGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF USD Acc (IAUP.L) 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.
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.
| IAUP.L | PHGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 0.81 | +0.64 |
| Martin ratioReturn relative to average drawdown | 3.73 | 2.35 | +1.38 |
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Drawdowns
IAUP.L vs. PHGP.L - Drawdown Comparison
The maximum IAUP.L drawdown since its inception was -79.88%, which is greater than PHGP.L's maximum drawdown of -60.03%. Use the drawdown chart below to compare losses from any high point for IAUP.L and PHGP.L.
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Drawdown Indicators
| IAUP.L | PHGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.88% | -60.03% | -19.85% |
Max Drawdown (1Y)Largest decline over 1 year | -33.99% | -24.61% | -9.38% |
Max Drawdown (3Y)Largest decline over 3 years | -33.99% | -24.61% | -9.38% |
Max Drawdown (5Y)Largest decline over 5 years | -44.90% | -24.61% | -20.29% |
Max Drawdown (10Y)Largest decline over 10 years | -51.26% | -24.61% | -26.65% |
Current DrawdownCurrent decline from peak | -33.07% | -24.43% | -8.64% |
Average DrawdownAverage peak-to-trough decline | -48.63% | -26.87% | -21.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.21% | 8.52% | +4.69% |
Volatility
IAUP.L vs. PHGP.L - Volatility Comparison
iShares Gold Producers UCITS ETF USD Acc (IAUP.L) has a higher volatility of 17.69% compared to WisdomTree Physical Gold (PHGP.L) at 8.54%. This indicates that IAUP.L's price experiences larger fluctuations and is considered to be riskier 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
| IAUP.L | PHGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.69% | 8.54% | +9.15% |
Volatility (6M)Calculated over the trailing 6-month period | 37.81% | 22.18% | +15.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.92% | 25.19% | +20.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.95% | 22.78% | +13.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.81% | 18.82% | +15.99% |
IAUP.L vs. PHGP.L - Expense Ratio Comparison
IAUP.L has a 0.55% expense ratio, which is higher than PHGP.L's 0.39% expense ratio.
Dividends
IAUP.L vs. PHGP.L - Dividend Comparison
Neither IAUP.L nor PHGP.L has paid dividends to shareholders.
Frequently Asked Questions
IAUP.L and PHGP.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PHGP.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PHGP.L is cheaper with a 0.39% expense ratio, compared with 0.55% for IAUP.L.
IAUP.L tracks S&P Commodity Producers Gold Index, while PHGP.L tracks Gold. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.55% for IAUP.L and 0.39% for PHGP.L.
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