PHGP.L vs. GLAG.MI
PHGP.L (WisdomTree Physical Gold) and GLAG.MI (SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist)) are both exchange-traded funds - PHGP.L is a Precious Metals fund tracking the Gold, while GLAG.MI is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index. Both are passively managed. Over the past 5 years, PHGP.L returned 19.54%/yr vs -0.93%/yr for GLAG.MI. At a 0.35 correlation, their price movements are largely independent. PHGP.L charges 0.39%/yr vs 0.10%/yr for GLAG.MI.
Performance
PHGP.L vs. GLAG.MI - Performance Comparison
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Different Trading Currencies
PHGP.L is traded in GBp, while GLAG.MI is traded in EUR. To make them comparable, the GLAG.MI values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PHGP.L achieves a 3.81% return, which is significantly higher than GLAG.MI's 0.15% return.
PHGP.L
- 1D
- 0.71%
- 1M
- -1.41%
- YTD
- 3.81%
- 6M
- 5.28%
- 1Y
- 33.28%
- 3Y*
- 27.79%
- 5Y*
- 19.54%
- 10Y*
- 14.02%
GLAG.MI
- 1D
- 0.14%
- 1M
- 1.02%
- YTD
- 0.15%
- 6M
- -0.55%
- 1Y
- 2.93%
- 3Y*
- 0.49%
- 5Y*
- -0.93%
- 10Y*
- —
PHGP.L vs. GLAG.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PHGP.L WisdomTree Physical Gold | 3.81% | 53.14% | 27.85% | 6.97% | 11.52% | -3.11% | 19.74% | 14.47% | 5.18% |
GLAG.MI SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) | 0.15% | 0.14% | -0.13% | -0.27% | -6.33% | -4.45% | 4.76% | 2.96% | 8.46% |
Correlation
The correlation between PHGP.L and GLAG.MI is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2018 | 0.35 |
Over the past year, the correlation between PHGP.L and GLAG.MI has dropped to 0.08 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.
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Return for Risk
PHGP.L vs. GLAG.MI — Risk / Return Rank
PHGP.L
GLAG.MI
PHGP.L vs. GLAG.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold (PHGP.L) and SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) (GLAG.MI). 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.
| PHGP.L | GLAG.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.11 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 0.75 | +1.15 |
| Martin ratioReturn relative to average drawdown | 4.96 | 1.48 | +3.48 |
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
| PHGP.L | GLAG.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 0.61 | +0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | -0.14 | +1.34 |
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 | 0.08 | +0.59 |
Drawdowns
PHGP.L vs. GLAG.MI - Drawdown Comparison
The maximum PHGP.L drawdown since its inception was -42.06%, which is greater than GLAG.MI's maximum drawdown of -19.70%. Use the drawdown chart below to compare losses from any high point for PHGP.L and GLAG.MI.
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Drawdown Indicators
| PHGP.L | GLAG.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.06% | -19.70% | -22.36% |
Max Drawdown (1Y)Largest decline over 1 year | -17.49% | -3.97% | -13.52% |
Max Drawdown (3Y)Largest decline over 3 years | -17.49% | -5.23% | -12.26% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -14.47% | -3.02% |
Max Drawdown (10Y)Largest decline over 10 years | -22.37% | — | — |
Current DrawdownCurrent decline from peak | -16.07% | -14.56% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -13.50% | -10.08% | -3.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 1.99% | +4.70% |
Volatility
PHGP.L vs. GLAG.MI - Volatility Comparison
WisdomTree Physical Gold (PHGP.L) has a higher volatility of 5.10% compared to SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) (GLAG.MI) at 1.44%. This indicates that PHGP.L's price experiences larger fluctuations and is considered to be riskier than GLAG.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHGP.L | GLAG.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 1.44% | +3.66% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 3.54% | +16.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.05% | 4.85% | +18.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 6.77% | +9.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 7.27% | +8.53% |
PHGP.L vs. GLAG.MI - Expense Ratio Comparison
PHGP.L has a 0.39% expense ratio, which is higher than GLAG.MI's 0.10% expense ratio.
Dividends
PHGP.L vs. GLAG.MI - Dividend Comparison
PHGP.L has not paid dividends to shareholders, while GLAG.MI's dividend yield for the trailing twelve months is around 2.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLAG.MI SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) | 2.68% | 2.96% | 2.46% | 1.86% | 1.39% | 0.98% | 1.40% | 1.50% | 0.81% |
PHGP.L WisdomTree Physical Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PHGP.L and GLAG.MI have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAG.MI is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAG.MI is cheaper with a 0.10% expense ratio, compared with 0.39% for PHGP.L.
PHGP.L is categorized as Precious Metals, while GLAG.MI is Global Bonds. PHGP.L tracks Gold, while GLAG.MI tracks Bloomberg Global Aggregate Bond Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.39% for PHGP.L and 0.10% for GLAG.MI.
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