IS0M.DE vs. PHGP.L
IS0M.DE (iShares Italy Government Bond UCITS ETF EUR Dist) and PHGP.L (WisdomTree Physical Gold) are both exchange-traded funds - IS0M.DE is a European Government Bonds fund tracking the Bloomberg Italy Treasury Bond, while PHGP.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 10 years, IS0M.DE returned 0.92%/yr vs 12.94%/yr for PHGP.L. At a 0.14 correlation, their price movements are largely independent. IS0M.DE charges 0.20%/yr vs 0.39%/yr for PHGP.L.
Performance
IS0M.DE vs. PHGP.L - Performance Comparison
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Different Trading Currencies
IS0M.DE is traded in EUR, while PHGP.L is traded in GBp. To make them comparable, the PHGP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IS0M.DE achieves a -0.32% return, which is significantly lower than PHGP.L's 4.74% return. Over the past 10 years, IS0M.DE has underperformed PHGP.L with an annualized return of 0.92%, while PHGP.L has yielded a comparatively higher 12.94% annualized return.
IS0M.DE
- 1D
- 0.01%
- 1M
- 0.82%
- YTD
- -0.32%
- 6M
- -0.34%
- 1Y
- 0.84%
- 3Y*
- 4.15%
- 5Y*
- -0.79%
- 10Y*
- 0.92%
PHGP.L
- 1D
- 0.62%
- 1M
- -1.60%
- YTD
- 4.74%
- 6M
- 6.34%
- 1Y
- 29.79%
- 3Y*
- 27.60%
- 5Y*
- 19.38%
- 10Y*
- 12.94%
IS0M.DE vs. PHGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | -0.32% | 3.07% | 4.66% | 9.14% | -17.24% | -2.99% | 7.54% | 10.45% | -1.48% | 0.31% |
PHGP.L WisdomTree Physical Gold | 4.74% | 45.16% | 34.02% | 9.24% | 5.77% | 3.20% | 13.24% | 21.75% | 2.90% | -2.45% |
Correlation
The correlation between IS0M.DE and PHGP.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2012 | 0.14 |
The correlation between IS0M.DE and PHGP.L shifts across timeframes, from 0.14 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IS0M.DE vs. PHGP.L — Risk / Return Rank
IS0M.DE
PHGP.L
IS0M.DE vs. PHGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.DE) 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.
| IS0M.DE | PHGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.26 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.76 | -1.57 |
| Martin ratioReturn relative to average drawdown | 0.58 | 4.46 | -3.88 |
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
| IS0M.DE | PHGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 1.29 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | 1.18 | -1.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | 0.87 | -0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.61 | -0.12 |
Drawdowns
IS0M.DE vs. PHGP.L - Drawdown Comparison
The maximum IS0M.DE drawdown since its inception was -21.08%, smaller than the maximum PHGP.L drawdown of -37.17%. Use the drawdown chart below to compare losses from any high point for IS0M.DE and PHGP.L.
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Drawdown Indicators
| IS0M.DE | PHGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -37.17% | +16.09% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -16.83% | +12.55% |
Max Drawdown (3Y)Largest decline over 3 years | -4.42% | -16.83% | +12.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.85% | -16.83% | -4.02% |
Max Drawdown (10Y)Largest decline over 10 years | -21.08% | -18.60% | -2.48% |
Current DrawdownCurrent decline from peak | -6.33% | -15.41% | +9.08% |
Average DrawdownAverage peak-to-trough decline | -5.53% | -12.39% | +6.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 6.66% | -5.23% |
Volatility
IS0M.DE vs. PHGP.L - Volatility Comparison
The current volatility for iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.DE) is 1.99%, while WisdomTree Physical Gold (PHGP.L) has a volatility of 5.06%. This indicates that IS0M.DE experiences smaller price fluctuations and is considered to be less risky 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
| IS0M.DE | PHGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 5.06% | -3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.25% | 20.09% | -15.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 23.07% | -18.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 16.35% | -9.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.73% | 14.87% | -8.14% |
IS0M.DE vs. PHGP.L - Expense Ratio Comparison
IS0M.DE has a 0.20% expense ratio, which is lower than PHGP.L's 0.39% expense ratio.
Dividends
IS0M.DE vs. PHGP.L - Dividend Comparison
IS0M.DE's dividend yield for the trailing twelve months is around 2.83%, while PHGP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | 2.83% | 2.82% | 2.66% | 2.10% | 1.05% | 0.74% | 0.98% | 1.45% | 1.37% | 1.37% | 1.47% | 1.83% |
PHGP.L WisdomTree Physical Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IS0M.DE and PHGP.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS0M.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS0M.DE is cheaper with a 0.20% expense ratio, compared with 0.39% for PHGP.L.
IS0M.DE is categorized as European Government Bonds, while PHGP.L is Precious Metals. IS0M.DE tracks Bloomberg Italy Treasury Bond, while PHGP.L tracks Gold. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.20% for IS0M.DE and 0.39% for PHGP.L.
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