PHAU.AS vs. IBTA.L
PHAU.AS (WisdomTree Physical Gold UCITS ETC) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both exchange-traded funds - PHAU.AS is a Gold fund tracking the LBMA Gold Price PM, while IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, PHAU.AS returned 19.40%/yr vs 2.92%/yr for IBTA.L. At a 0.13 correlation, their price movements are largely independent. PHAU.AS charges 0.39%/yr vs 0.07%/yr for IBTA.L.
Performance
PHAU.AS vs. IBTA.L - Performance Comparison
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Different Trading Currencies
PHAU.AS is traded in EUR, while IBTA.L is traded in USD. To make them comparable, the IBTA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, PHAU.AS achieves a 4.61% return, which is significantly higher than IBTA.L's 2.02% return.
PHAU.AS
- 1D
- 0.56%
- 1M
- -3.87%
- YTD
- 4.61%
- 6M
- 5.97%
- 1Y
- 31.05%
- 3Y*
- 27.67%
- 5Y*
- 19.40%
- 10Y*
- 12.91%
IBTA.L
- 1D
- -0.12%
- 1M
- 2.01%
- YTD
- 2.02%
- 6M
- 1.75%
- 1Y
- 2.05%
- 3Y*
- 1.74%
- 5Y*
- 2.92%
- 10Y*
- —
PHAU.AS vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHAU.AS WisdomTree Physical Gold UCITS ETC | 4.61% | 45.53% | 34.03% | 9.32% | 5.55% | 3.63% | 13.51% | 20.41% | 2.85% | -10.42% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 2.02% | -7.16% | 10.94% | 1.08% | 2.21% | 6.80% | -5.36% | 5.96% | 6.16% | -11.55% |
Correlation
The correlation between PHAU.AS and IBTA.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.13 |
The correlation between PHAU.AS and IBTA.L shifts across timeframes, from -0.07 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PHAU.AS vs. IBTA.L — Risk / Return Rank
PHAU.AS
IBTA.L
PHAU.AS vs. IBTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold UCITS ETC (PHAU.AS) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.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.
| PHAU.AS | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.06 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 0.50 | +1.25 |
| Martin ratioReturn relative to average drawdown | 4.43 | 1.29 | +3.14 |
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
| PHAU.AS | IBTA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 0.34 | +0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.19 | 0.39 | +0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.13 | +0.53 |
Drawdowns
PHAU.AS vs. IBTA.L - Drawdown Comparison
The maximum PHAU.AS drawdown since its inception was -37.19%, which is greater than IBTA.L's maximum drawdown of -15.46%. Use the drawdown chart below to compare losses from any high point for PHAU.AS and IBTA.L.
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Drawdown Indicators
| PHAU.AS | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.19% | -15.46% | -21.73% |
Max Drawdown (1Y)Largest decline over 1 year | -16.74% | -4.07% | -12.67% |
Max Drawdown (3Y)Largest decline over 3 years | -16.74% | -10.85% | -5.89% |
Max Drawdown (5Y)Largest decline over 5 years | -16.74% | -12.61% | -4.13% |
Max Drawdown (10Y)Largest decline over 10 years | -18.59% | — | — |
Current DrawdownCurrent decline from peak | -15.26% | -6.22% | -9.04% |
Average DrawdownAverage peak-to-trough decline | -12.23% | -6.59% | -5.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.66% | 1.58% | +5.08% |
Volatility
PHAU.AS vs. IBTA.L - Volatility Comparison
WisdomTree Physical Gold UCITS ETC (PHAU.AS) has a higher volatility of 5.17% compared to iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) at 1.30%. This indicates that PHAU.AS's price experiences larger fluctuations and is considered to be riskier than IBTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHAU.AS | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.17% | 1.30% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 20.12% | 4.26% | +15.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.04% | 6.05% | +16.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.99% | 7.47% | +8.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.29% | 7.25% | +7.04% |
PHAU.AS vs. IBTA.L - Expense Ratio Comparison
PHAU.AS has a 0.39% expense ratio, which is higher than IBTA.L's 0.07% expense ratio.
Dividends
PHAU.AS vs. IBTA.L - Dividend Comparison
Neither PHAU.AS nor IBTA.L has paid dividends to shareholders.
Frequently Asked Questions
PHAU.AS and IBTA.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.39% for PHAU.AS.
PHAU.AS is categorized as Gold, while IBTA.L is Government Bonds. PHAU.AS tracks LBMA Gold Price PM, while IBTA.L tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.39% for PHAU.AS and 0.07% for IBTA.L.
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