ISLN.L vs. PHSP.L
ISLN.L (iShares Physical Silver ETC) and PHSP.L (WisdomTree Physical Silver) are both Silver funds tracking the LBMA Silver Price, from iShares and WisdomTree respectively. Both are passively managed. Over the past 10 years, ISLN.L returned 15.84%/yr vs 15.62%/yr for PHSP.L. Their correlation of 0.92 suggests significant overlap in exposure. ISLN.L charges 0.20%/yr vs 0.49%/yr for PHSP.L.
Performance
ISLN.L vs. PHSP.L - Performance Comparison
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Different Trading Currencies
ISLN.L is traded in USD, while PHSP.L is traded in GBp. To make them comparable, the PHSP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ISLN.L achieves a 2.87% return, which is significantly higher than PHSP.L's 2.72% return. Both investments have delivered pretty close results over the past 10 years, with ISLN.L having a 15.84% annualized return and PHSP.L not far behind at 15.62%.
ISLN.L
- 1D
- 0.43%
- 1M
- 0.11%
- YTD
- 2.87%
- 6M
- 29.09%
- 1Y
- 113.78%
- 3Y*
- 45.97%
- 5Y*
- 21.30%
- 10Y*
- 15.84%
PHSP.L
- 1D
- 0.51%
- 1M
- 0.17%
- YTD
- 2.72%
- 6M
- 29.13%
- 1Y
- 113.20%
- 3Y*
- 45.44%
- 5Y*
- 20.95%
- 10Y*
- 15.62%
ISLN.L vs. PHSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISLN.L iShares Physical Silver ETC | 2.87% | 147.59% | 21.12% | -0.77% | 3.39% | -12.85% | 45.85% | 16.35% | -8.76% | 3.68% |
PHSP.L WisdomTree Physical Silver | 2.72% | 147.01% | 20.80% | -1.58% | 3.15% | -12.90% | 45.17% | 17.09% | -9.01% | 3.31% |
Correlation
The correlation between ISLN.L and PHSP.L is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.92 |
The correlation between ISLN.L and PHSP.L has been stable across timeframes, ranging from 0.92 to 0.99 - a consistent structural relationship.
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Return for Risk
ISLN.L vs. PHSP.L — Risk / Return Rank
ISLN.L
PHSP.L
ISLN.L vs. PHSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (ISLN.L) and WisdomTree Physical Silver (PHSP.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.
| ISLN.L | PHSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 2.75 | +0.03 |
| Martin ratioReturn relative to average drawdown | 6.08 | 6.00 | +0.08 |
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
| ISLN.L | PHSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 2.03 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.60 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.51 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.27 | -0.15 |
Drawdowns
ISLN.L vs. PHSP.L - Drawdown Comparison
The maximum ISLN.L drawdown since its inception was -76.63%, roughly equal to the maximum PHSP.L drawdown of -76.98%. Use the drawdown chart below to compare losses from any high point for ISLN.L and PHSP.L.
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Drawdown Indicators
| ISLN.L | PHSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.63% | -76.98% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -40.67% | -40.88% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -40.67% | -40.88% | +0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -40.67% | -40.88% | +0.21% |
Max Drawdown (10Y)Largest decline over 10 years | -42.90% | -43.76% | +0.86% |
Current DrawdownCurrent decline from peak | -35.25% | -35.55% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -54.28% | -48.35% | -5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.63% | 18.79% | -0.16% |
Volatility
ISLN.L vs. PHSP.L - Volatility Comparison
iShares Physical Silver ETC (ISLN.L) and WisdomTree Physical Silver (PHSP.L) have volatilities of 17.61% and 17.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISLN.L | PHSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.61% | 17.02% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 54.22% | 52.69% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.90% | 55.42% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.49% | 34.96% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.92% | 30.52% | +0.40% |
ISLN.L vs. PHSP.L - Expense Ratio Comparison
ISLN.L has a 0.20% expense ratio, which is lower than PHSP.L's 0.49% expense ratio.
Dividends
ISLN.L vs. PHSP.L - Dividend Comparison
Neither ISLN.L nor PHSP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, ISLN.L and PHSP.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.
On fees, ISLN.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISLN.L is cheaper with a 0.20% expense ratio, compared with 0.49% for PHSP.L.
Both ETFs track LBMA Silver Price. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.20% for ISLN.L and 0.49% for PHSP.L.
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