NICK.L vs. GBSP.L
NICK.L (WisdomTree Nickel) and GBSP.L (WisdomTree Physical Gold - GBP Daily Hedged) are both exchange-traded funds - NICK.L is a Metals fund tracking the Bloomberg Nickel, while GBSP.L is a Precious Metals fund tracking the Gold (GBP Hedged). Both are passively managed. Over the past 10 years, NICK.L returned 6.28%/yr vs 10.49%/yr for GBSP.L. At a 0.19 correlation, their price movements are largely independent. NICK.L charges 0.49%/yr vs 0.25%/yr for GBSP.L.
Performance
NICK.L vs. GBSP.L - Performance Comparison
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Different Trading Currencies
NICK.L is traded in USD, while GBSP.L is traded in GBp. To make them comparable, the GBSP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NICK.L achieves a 10.65% return, which is significantly higher than GBSP.L's 2.93% return. Over the past 10 years, NICK.L has underperformed GBSP.L with an annualized return of 6.28%, while GBSP.L has yielded a comparatively higher 10.49% annualized return.
NICK.L
- 1D
- -1.03%
- 1M
- -5.12%
- YTD
- 10.65%
- 6M
- 23.90%
- 1Y
- 18.75%
- 3Y*
- -5.71%
- 5Y*
- -0.66%
- 10Y*
- 6.28%
GBSP.L
- 1D
- 0.81%
- 1M
- -3.23%
- YTD
- 2.93%
- 6M
- 6.29%
- 1Y
- 29.81%
- 3Y*
- 33.59%
- 5Y*
- 15.95%
- 10Y*
- 10.49%
NICK.L vs. GBSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NICK.L WisdomTree Nickel | 10.65% | 6.27% | -8.39% | -46.66% | 46.43% | 23.82% | 14.32% | 32.82% | -14.50% | 18.74% |
GBSP.L WisdomTree Physical Gold - GBP Daily Hedged | 2.93% | 75.62% | 22.93% | 17.64% | -12.23% | -5.78% | 25.57% | 19.16% | -9.95% | 18.76% |
Correlation
The correlation between NICK.L and GBSP.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.19 |
The correlation between NICK.L and GBSP.L shifts across timeframes, from 0.19 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NICK.L vs. GBSP.L — Risk / Return Rank
NICK.L
GBSP.L
NICK.L vs. GBSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Nickel (NICK.L) and WisdomTree Physical Gold - GBP Daily Hedged (GBSP.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.
| NICK.L | GBSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.21 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.48 | +0.34 |
| Martin ratioReturn relative to average drawdown | 3.88 | 3.66 | +0.22 |
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
| NICK.L | GBSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 1.10 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.74 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.53 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 0.25 | -0.34 |
Drawdowns
NICK.L vs. GBSP.L - Drawdown Comparison
The maximum NICK.L drawdown since its inception was -87.80%, which is greater than GBSP.L's maximum drawdown of -46.33%. Use the drawdown chart below to compare losses from any high point for NICK.L and GBSP.L.
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Drawdown Indicators
| NICK.L | GBSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.80% | -46.33% | -41.47% |
Max Drawdown (1Y)Largest decline over 1 year | -10.26% | -20.11% | +9.85% |
Max Drawdown (3Y)Largest decline over 3 years | -40.82% | -20.11% | -20.71% |
Max Drawdown (5Y)Largest decline over 5 years | -71.83% | -35.76% | -36.07% |
Max Drawdown (10Y)Largest decline over 10 years | -71.83% | -36.73% | -35.10% |
Current DrawdownCurrent decline from peak | -74.59% | -18.06% | -56.53% |
Average DrawdownAverage peak-to-trough decline | -70.10% | -22.94% | -47.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.80% | 8.12% | -3.32% |
Volatility
NICK.L vs. GBSP.L - Volatility Comparison
The current volatility for WisdomTree Nickel (NICK.L) is 6.02%, while WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) has a volatility of 7.12%. This indicates that NICK.L experiences smaller price fluctuations and is considered to be less risky than GBSP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NICK.L | GBSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.02% | 7.12% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 22.98% | 23.45% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.65% | 27.09% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.13% | 21.52% | +22.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.48% | 19.84% | +16.64% |
NICK.L vs. GBSP.L - Expense Ratio Comparison
NICK.L has a 0.49% expense ratio, which is higher than GBSP.L's 0.25% expense ratio.
Dividends
NICK.L vs. GBSP.L - Dividend Comparison
Neither NICK.L nor GBSP.L has paid dividends to shareholders.
Frequently Asked Questions
NICK.L and GBSP.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBSP.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBSP.L is cheaper with a 0.25% expense ratio, compared with 0.49% for NICK.L.
NICK.L is categorized as Metals, while GBSP.L is Precious Metals. NICK.L tracks Bloomberg Nickel, while GBSP.L tracks Gold (GBP Hedged). Their fees differ too: 0.49% for NICK.L and 0.25% for GBSP.L.
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