NICK.L vs. GC=F

Last updated Apr 2, 2026

Compare and contrast key facts about WisdomTree Nickel (NICK.L) and Gold (GC=F).

NICK.L is a passively managed fund by WisdomTree that tracks the performance of the Bloomberg Nickel. It was launched on Sep 22, 2006.

Performance

NICK.L vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Nickel (NICK.L) and Gold (GC=F). The values are adjusted to include any dividend payments, if applicable.

NICK.L vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NICK.L WisdomTree Nickel	2.48%	6.27%	-8.39%	-46.66%	46.43%	23.82%	14.32%	32.82%	-14.50%	18.74%
GC=F Gold	10.61%	64.52%	27.48%	13.34%	-0.43%	-3.47%	24.59%	18.87%	-2.14%	13.59%

Returns By Period

In the year-to-date period, NICK.L achieves a 2.48% return, which is significantly lower than GC=F's 10.61% return. Over the past 10 years, NICK.L has underperformed GC=F with an annualized return of 5.77%, while GC=F has yielded a comparatively higher 14.62% annualized return.

NICK.L

• 1D: 0.70%
• 1M: 0.17%
• YTD: 2.48%
• 6M: 12.25%
• 1Y: 4.35%
• 3Y*: -11.47%
• 5Y*: -0.02%
• 10Y*: 5.77%

GC=F

• 1D: 2.95%
• 1M: -9.63%
• YTD: 10.61%
• 6M: 23.71%
• 1Y: 53.41%
• 3Y*: 34.44%
• 5Y*: 22.61%
• 10Y*: 14.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NICK.L vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NICK.L

NICK.L Risk / Return Rank: 18
NICK.L Sharpe Ratio Rank: 16
NICK.L Sortino Ratio Rank: 17
NICK.L Omega Ratio Rank: 16
NICK.L Calmar Ratio Rank: 21
NICK.L Martin Ratio Rank: 18

GC=F

GC=F Risk / Return Rank: 91
GC=F Sharpe Ratio Rank: 100
GC=F Sortino Ratio Rank: 100
GC=F Omega Ratio Rank: 94
GC=F Calmar Ratio Rank: 71
GC=F Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NICK.L vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Nickel (NICK.L) and Gold (GC=F). 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	GC=F	Difference
Sharpe ratio Return per unit of total volatility	0.17	1.85	-1.68
Sortino ratio Return per unit of downside risk	0.45	2.26	-1.81
Omega ratio Gain probability vs. loss probability	1.06	1.34	-0.29
Calmar ratio Return relative to maximum drawdown	0.47	2.74	-2.26
Martin ratio Return relative to average drawdown	0.93	10.15	-9.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NICK.L vs. GC=F - Sharpe Ratio Comparison

The current NICK.L Sharpe Ratio is 0.17, which is lower than the GC=F Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of NICK.L and GC=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NICK.L	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	1.85	-1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	1.25	-1.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.89	-0.73
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.64	-0.74

Correlation

The correlation between NICK.L and GC=F is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

NICK.L vs. GC=F - Drawdown Comparison

The maximum NICK.L drawdown since its inception was -87.80%, which is greater than GC=F's maximum drawdown of -44.36%. Use the drawdown chart below to compare losses from any high point for NICK.L and GC=F.

Drawdown Indicators

	NICK.L	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-87.80%	-44.36%	-43.44%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-17.73%	+5.56%
Max Drawdown (5Y) Largest decline over 5 years	-71.83%	-20.43%	-51.40%
Max Drawdown (10Y) Largest decline over 10 years	-71.83%	-20.87%	-50.96%
Current Drawdown Current decline from peak	-76.47%	-10.04%	-66.43%
Average Drawdown Average peak-to-trough decline	-70.06%	-13.03%	-57.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.74%	4.78%	+0.96%

Volatility

NICK.L vs. GC=F - Volatility Comparison

The current volatility for WisdomTree Nickel (NICK.L) is 5.94%, while Gold (GC=F) has a volatility of 11.29%. This indicates that NICK.L experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NICK.L	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	11.29%	-5.35%
Volatility (6M) Calculated over the trailing 6-month period	21.80%	24.59%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	25.66%	27.77%	-2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.20%	17.96%	+26.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.48%	16.36%	+20.12%