MINV.L vs. PHAU.AS
MINV.L (iShares Edge MSCI World Minimum Volatility UCITS ETF) and PHAU.AS (WisdomTree Physical Gold UCITS ETC) are both exchange-traded funds - MINV.L is a Global Equities fund tracking the MSCI ACWI NR USD, while PHAU.AS is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, MINV.L returned 7.79%/yr vs 14.01%/yr for PHAU.AS. At a 0.16 correlation, their price movements are largely independent. MINV.L charges 0.35%/yr vs 0.39%/yr for PHAU.AS.
Performance
MINV.L vs. PHAU.AS - Performance Comparison
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Different Trading Currencies
MINV.L is traded in GBp, while PHAU.AS is traded in EUR. To make them comparable, the PHAU.AS values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, MINV.L achieves a 1.32% return, which is significantly lower than PHAU.AS's 3.79% return. Over the past 10 years, MINV.L has underperformed PHAU.AS with an annualized return of 7.79%, while PHAU.AS has yielded a comparatively higher 14.01% annualized return.
MINV.L
- 1D
- -0.14%
- 1M
- 2.88%
- YTD
- 1.32%
- 6M
- 1.62%
- 1Y
- 2.83%
- 3Y*
- 7.11%
- 5Y*
- 6.20%
- 10Y*
- 7.79%
PHAU.AS
- 1D
- 0.63%
- 1M
- -3.81%
- YTD
- 3.79%
- 6M
- 5.32%
- 1Y
- 34.59%
- 3Y*
- 27.84%
- 5Y*
- 19.56%
- 10Y*
- 14.01%
MINV.L vs. PHAU.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MINV.L iShares Edge MSCI World Minimum Volatility UCITS ETF | 1.32% | 3.37% | 12.86% | 1.50% | 1.23% | 15.98% | -1.05% | 18.84% | 3.17% | 7.00% |
PHAU.AS WisdomTree Physical Gold UCITS ETC | 3.79% | 53.32% | 27.94% | 7.14% | 11.01% | -2.52% | 19.93% | 13.57% | 3.87% | 2.84% |
Correlation
The correlation between MINV.L and PHAU.AS is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2012 | 0.16 |
The correlation between MINV.L and PHAU.AS shifts across timeframes, from -0.02 (1 year) to 0.18 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
MINV.L vs. PHAU.AS — Risk / Return Rank
MINV.L
PHAU.AS
MINV.L vs. PHAU.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Minimum Volatility UCITS ETF (MINV.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.
| MINV.L | PHAU.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.28 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 1.87 | -1.43 |
| Martin ratioReturn relative to average drawdown | 1.21 | 4.92 | -3.71 |
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
| MINV.L | PHAU.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 1.42 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 1.19 | -0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.87 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.72 | -0.38 |
Drawdowns
MINV.L vs. PHAU.AS - Drawdown Comparison
The maximum MINV.L drawdown since its inception was -39.64%, smaller than the maximum PHAU.AS drawdown of -41.88%. Use the drawdown chart below to compare losses from any high point for MINV.L and PHAU.AS.
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Drawdown Indicators
| MINV.L | PHAU.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.64% | -41.88% | +2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -6.31% | -17.47% | +11.16% |
Max Drawdown (3Y)Largest decline over 3 years | -20.10% | -17.47% | -2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -20.10% | -17.47% | -2.63% |
Max Drawdown (10Y)Largest decline over 10 years | -20.38% | -22.67% | +2.29% |
Current DrawdownCurrent decline from peak | -3.30% | -15.95% | +12.65% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -13.40% | +4.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 6.70% | -4.36% |
Volatility
MINV.L vs. PHAU.AS - Volatility Comparison
The current volatility for iShares Edge MSCI World Minimum Volatility UCITS ETF (MINV.L) is 2.52%, while WisdomTree Physical Gold UCITS ETC (PHAU.AS) has a volatility of 5.17%. This indicates that MINV.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
| MINV.L | PHAU.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.52% | 5.17% | -2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 5.84% | 20.01% | -14.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.91% | 23.08% | -15.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 16.19% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.40% | 15.79% | -0.39% |
MINV.L vs. PHAU.AS - Expense Ratio Comparison
MINV.L has a 0.35% expense ratio, which is lower than PHAU.AS's 0.39% expense ratio.
Dividends
MINV.L vs. PHAU.AS - Dividend Comparison
Neither MINV.L nor PHAU.AS has paid dividends to shareholders.
Frequently Asked Questions
MINV.L and PHAU.AS have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MINV.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MINV.L is cheaper with a 0.35% expense ratio, compared with 0.39% for PHAU.AS.
MINV.L is categorized as Global Equities, while PHAU.AS is Gold. MINV.L tracks MSCI ACWI NR USD, while PHAU.AS tracks LBMA Gold Price PM. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.35% for MINV.L and 0.39% for PHAU.AS.
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