META.L vs. PHSP.L
META.L (WisdomTree Industrial Metals Enhanced) and PHSP.L (WisdomTree Physical Silver) are both exchange-traded funds - META.L is a Metals fund tracking the Optimised Roll Industrial Metals, while PHSP.L is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 3 years, META.L returned 11.45%/yr vs 45.05%/yr for PHSP.L. At a 0.48 correlation, their price movements are largely independent. META.L charges 0.40%/yr vs 0.49%/yr for PHSP.L.
Performance
META.L vs. PHSP.L - Performance Comparison
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Different Trading Currencies
META.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, META.L achieves a 11.06% return, which is significantly higher than PHSP.L's 2.25% return.
META.L
- 1D
- -1.11%
- 1M
- 5.05%
- YTD
- 11.06%
- 6M
- 17.63%
- 1Y
- 31.56%
- 3Y*
- 11.45%
- 5Y*
- —
- 10Y*
- —
PHSP.L
- 1D
- -3.33%
- 1M
- -2.78%
- YTD
- 2.25%
- 6M
- 24.40%
- 1Y
- 111.67%
- 3Y*
- 45.05%
- 5Y*
- 20.84%
- 10Y*
- 15.63%
META.L vs. PHSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
META.L WisdomTree Industrial Metals Enhanced | 11.06% | 16.98% | 3.79% | -8.15% | 16.29% |
PHSP.L WisdomTree Physical Silver | 2.25% | 147.01% | 20.80% | -1.58% | 24.58% |
Correlation
The correlation between META.L and PHSP.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | 0.48 |
The correlation between META.L and PHSP.L has been stable across timeframes, ranging from 0.48 to 0.58 - a consistent structural relationship.
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Return for Risk
META.L vs. PHSP.L — Risk / Return Rank
META.L
PHSP.L
META.L vs. PHSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Industrial Metals Enhanced (META.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.
| META.L | PHSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.35 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 2.72 | +0.77 |
| Martin ratioReturn relative to average drawdown | 12.35 | 5.96 | +6.39 |
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
| META.L | PHSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 2.00 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.60 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.51 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.27 | +0.29 |
Drawdowns
META.L vs. PHSP.L - Drawdown Comparison
The maximum META.L drawdown since its inception was -20.21%, smaller than the maximum PHSP.L drawdown of -76.98%. Use the drawdown chart below to compare losses from any high point for META.L and PHSP.L.
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Drawdown Indicators
| META.L | PHSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.21% | -76.98% | +56.77% |
Max Drawdown (1Y)Largest decline over 1 year | -9.01% | -40.88% | +31.87% |
Max Drawdown (3Y)Largest decline over 3 years | -20.21% | -40.88% | +20.67% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.76% | — |
Current DrawdownCurrent decline from peak | -1.11% | -35.84% | +34.73% |
Average DrawdownAverage peak-to-trough decline | -9.95% | -48.35% | +38.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 18.66% | -16.11% |
Volatility
META.L vs. PHSP.L - Volatility Comparison
The current volatility for WisdomTree Industrial Metals Enhanced (META.L) is 4.48%, while WisdomTree Physical Silver (PHSP.L) has a volatility of 17.16%. This indicates that META.L experiences smaller price fluctuations and is considered to be less risky than PHSP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| META.L | PHSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 17.16% | -12.68% |
Volatility (6M)Calculated over the trailing 6-month period | 12.91% | 52.88% | -39.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.21% | 55.41% | -40.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.55% | 34.97% | -17.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.55% | 30.53% | -12.98% |
META.L vs. PHSP.L - Expense Ratio Comparison
META.L has a 0.40% expense ratio, which is lower than PHSP.L's 0.49% expense ratio.
Dividends
META.L vs. PHSP.L - Dividend Comparison
Neither META.L nor PHSP.L has paid dividends to shareholders.
Frequently Asked Questions
META.L and PHSP.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, META.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
META.L is cheaper with a 0.40% expense ratio, compared with 0.49% for PHSP.L.
META.L is categorized as Metals, while PHSP.L is Silver. META.L tracks Optimised Roll Industrial Metals, while PHSP.L tracks LBMA Silver Price. Their fees differ too: 0.40% for META.L and 0.49% for PHSP.L.
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