NGAS.L vs. GLDW.L
NGAS.L (WisdomTree Natural Gas ETF) and GLDW.L (WisdomTree Core Physical Gold) are both exchange-traded funds - NGAS.L is a Commodities fund tracking the Bloomberg Natural Gas Sub Total Return Index, while GLDW.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 5 years, NGAS.L returned -25.67%/yr vs 18.47%/yr for GLDW.L. At a 0.01 correlation, their price movements are largely independent. NGAS.L charges 0.49%/yr vs 0.12%/yr for GLDW.L.
Performance
NGAS.L vs. GLDW.L - Performance Comparison
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Different Trading Currencies
NGAS.L is traded in USD, while GLDW.L is traded in GBp. To make them comparable, the GLDW.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NGAS.L achieves a -11.49% return, which is significantly lower than GLDW.L's 3.07% return.
NGAS.L
- 1D
- 2.07%
- 1M
- 4.84%
- YTD
- -11.49%
- 6M
- -29.61%
- 1Y
- -36.85%
- 3Y*
- -25.66%
- 5Y*
- -25.67%
- 10Y*
- -23.35%
GLDW.L
- 1D
- -1.34%
- 1M
- -3.80%
- YTD
- 3.07%
- 6M
- 5.13%
- 1Y
- 32.48%
- 3Y*
- 31.21%
- 5Y*
- 18.47%
- 10Y*
- —
NGAS.L vs. GLDW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
NGAS.L WisdomTree Natural Gas ETF | -11.49% | -24.72% | -26.18% | -65.28% | 20.27% | 23.33% |
GLDW.L WisdomTree Core Physical Gold | 3.07% | 65.15% | 26.05% | 12.92% | -0.13% | 6.27% |
Correlation
The correlation between NGAS.L and GLDW.L is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2021 | 0.01 |
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Return for Risk
NGAS.L vs. GLDW.L — Risk / Return Rank
NGAS.L
GLDW.L
NGAS.L vs. GLDW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Natural Gas ETF (NGAS.L) and WisdomTree Core Physical Gold (GLDW.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.
| NGAS.L | GLDW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.25 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.82 | -2.59 |
| Martin ratioReturn relative to average drawdown | -1.11 | 4.81 | -5.92 |
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
| NGAS.L | GLDW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 1.34 | -2.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 1.06 | -1.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 1.16 | -1.75 |
Drawdowns
NGAS.L vs. GLDW.L - Drawdown Comparison
The maximum NGAS.L drawdown since its inception was -99.91%, which is greater than GLDW.L's maximum drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for NGAS.L and GLDW.L.
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Drawdown Indicators
| NGAS.L | GLDW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.91% | -21.42% | -78.49% |
Max Drawdown (1Y)Largest decline over 1 year | -47.73% | -17.74% | -29.99% |
Max Drawdown (3Y)Largest decline over 3 years | -70.31% | -17.74% | -52.57% |
Max Drawdown (5Y)Largest decline over 5 years | -93.13% | -21.42% | -71.71% |
Max Drawdown (10Y)Largest decline over 10 years | -94.91% | — | — |
Current DrawdownCurrent decline from peak | -99.91% | -16.34% | -83.57% |
Average DrawdownAverage peak-to-trough decline | -89.09% | -5.38% | -83.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.25% | 6.73% | +26.52% |
Volatility
NGAS.L vs. GLDW.L - Volatility Comparison
WisdomTree Natural Gas ETF (NGAS.L) has a higher volatility of 11.19% compared to WisdomTree Core Physical Gold (GLDW.L) at 5.67%. This indicates that NGAS.L's price experiences larger fluctuations and is considered to be riskier than GLDW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NGAS.L | GLDW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.19% | 5.67% | +5.52% |
Volatility (6M)Calculated over the trailing 6-month period | 47.23% | 20.80% | +26.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.38% | 24.06% | +31.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.00% | 17.35% | +41.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.65% | 17.18% | +33.47% |
NGAS.L vs. GLDW.L - Expense Ratio Comparison
NGAS.L has a 0.49% expense ratio, which is higher than GLDW.L's 0.12% expense ratio.
Dividends
NGAS.L vs. GLDW.L - Dividend Comparison
Neither NGAS.L nor GLDW.L has paid dividends to shareholders.
Frequently Asked Questions
NGAS.L and GLDW.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDW.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDW.L is cheaper with a 0.12% expense ratio, compared with 0.49% for NGAS.L.
NGAS.L is categorized as Commodities, while GLDW.L is Precious Metals. NGAS.L tracks Bloomberg Natural Gas Sub Total Return Index, while GLDW.L tracks Gold. Their fees differ too: 0.49% for NGAS.L and 0.12% for GLDW.L.
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