IBTA.L vs. PHAU.AS
IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and PHAU.AS (WisdomTree Physical Gold UCITS ETC) are both exchange-traded funds - IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while PHAU.AS is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, IBTA.L returned 1.81%/yr vs 18.29%/yr for PHAU.AS. At a 0.27 correlation, their price movements are largely independent. IBTA.L charges 0.07%/yr vs 0.39%/yr for PHAU.AS.
Performance
IBTA.L vs. PHAU.AS - Performance Comparison
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Different Trading Currencies
IBTA.L is traded in USD, while PHAU.AS is traded in EUR. To make them comparable, the PHAU.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTA.L achieves a 0.17% return, which is significantly lower than PHAU.AS's 3.40% return.
IBTA.L
- 1D
- 0.00%
- 1M
- -0.17%
- YTD
- 0.17%
- 6M
- 0.85%
- 1Y
- 3.31%
- 3Y*
- 4.14%
- 5Y*
- 1.81%
- 10Y*
- —
PHAU.AS
- 1D
- 0.67%
- 1M
- -5.29%
- YTD
- 3.40%
- 6M
- 5.67%
- 1Y
- 33.56%
- 3Y*
- 31.15%
- 5Y*
- 18.29%
- 10Y*
- 13.17%
IBTA.L vs. PHAU.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.17% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 3.14% | 3.62% | 1.40% | -0.00% |
PHAU.AS WisdomTree Physical Gold UCITS ETC | 3.40% | 65.08% | 25.74% | 12.78% | -0.79% | -3.43% | 23.56% | 18.07% | -1.94% | 1.34% |
Correlation
The correlation between IBTA.L and PHAU.AS is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.27 |
The correlation between IBTA.L and PHAU.AS shifts across timeframes, from 0.12 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTA.L vs. PHAU.AS — Risk / Return Rank
IBTA.L
PHAU.AS
IBTA.L vs. PHAU.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) and WisdomTree Physical Gold UCITS ETC (PHAU.AS). 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.
| IBTA.L | PHAU.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.25 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.90 | 1.82 | +3.08 |
| Martin ratioReturn relative to average drawdown | 16.98 | 4.63 | +12.35 |
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
| IBTA.L | PHAU.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 1.30 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 1.04 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.57 | +0.40 |
Drawdowns
IBTA.L vs. PHAU.AS - Drawdown Comparison
The maximum IBTA.L drawdown since its inception was -5.80%, smaller than the maximum PHAU.AS drawdown of -45.50%. Use the drawdown chart below to compare losses from any high point for IBTA.L and PHAU.AS.
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Drawdown Indicators
| IBTA.L | PHAU.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.80% | -45.50% | +39.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -17.30% | +16.63% |
Max Drawdown (3Y)Largest decline over 3 years | -0.89% | -17.30% | +16.41% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -21.42% | +15.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.75% | — |
Current DrawdownCurrent decline from peak | -0.34% | -15.84% | +15.50% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -17.58% | +16.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 6.85% | -6.66% |
Volatility
IBTA.L vs. PHAU.AS - Volatility Comparison
The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) is 0.54%, while WisdomTree Physical Gold UCITS ETC (PHAU.AS) has a volatility of 5.74%. This indicates that IBTA.L experiences smaller price fluctuations and is considered to be less risky than PHAU.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTA.L | PHAU.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 5.74% | -5.20% |
Volatility (6M)Calculated over the trailing 6-month period | 1.12% | 21.07% | -19.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.58% | 24.27% | -22.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.16% | 17.33% | -15.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.93% | 15.50% | -13.57% |
IBTA.L vs. PHAU.AS - Expense Ratio Comparison
IBTA.L has a 0.07% expense ratio, which is lower than PHAU.AS's 0.39% expense ratio.
Dividends
IBTA.L vs. PHAU.AS - Dividend Comparison
Neither IBTA.L nor PHAU.AS has paid dividends to shareholders.
Frequently Asked Questions
IBTA.L and PHAU.AS have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.39% for PHAU.AS.
IBTA.L is categorized as Government Bonds, while PHAU.AS is Gold. IBTA.L tracks ICE US Treasury 1-3 Year Index, while PHAU.AS tracks LBMA Gold Price PM. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.07% for IBTA.L and 0.39% for PHAU.AS.
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