PHGP.L vs. RMAP.L
PHGP.L (WisdomTree Physical Gold) and RMAP.L (HANetf The Royal Mint Responsibly Sourced Physical Gold ETC) are both Precious Metals funds tracking the Gold, from WisdomTree and HANetf respectively. Both are passively managed. Over the past 5 years, PHGP.L returned 19.54%/yr vs 19.94%/yr for RMAP.L. Their correlation of 0.91 suggests significant overlap in exposure. PHGP.L charges 0.39%/yr vs 0.22%/yr for RMAP.L.
Performance
PHGP.L vs. RMAP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PHGP.L having a 3.81% return and RMAP.L slightly higher at 3.85%.
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%
RMAP.L
- 1D
- 0.76%
- 1M
- -1.33%
- YTD
- 3.85%
- 6M
- 5.42%
- 1Y
- 33.56%
- 3Y*
- 27.99%
- 5Y*
- 19.94%
- 10Y*
- —
PHGP.L vs. RMAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PHGP.L WisdomTree Physical Gold | 3.81% | 53.14% | 27.85% | 6.97% | 11.52% | -3.11% | 11.49% |
RMAP.L HANetf The Royal Mint Responsibly Sourced Physical Gold ETC | 3.85% | 53.50% | 28.00% | 7.09% | 11.74% | -2.81% | 10.34% |
Correlation
The correlation between PHGP.L and RMAP.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2020 | 0.91 |
The correlation between PHGP.L and RMAP.L has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.
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Return for Risk
PHGP.L vs. RMAP.L — Risk / Return Rank
PHGP.L
RMAP.L
PHGP.L vs. RMAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold (PHGP.L) and HANetf The Royal Mint Responsibly Sourced Physical Gold ETC (RMAP.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.
| PHGP.L | RMAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.22 | +0.67 |
| Martin ratioReturn relative to average drawdown | 4.96 | 2.43 | +2.53 |
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 | RMAP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 0.70 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.81 | +0.39 |
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 | 0.71 | -0.04 |
Drawdowns
PHGP.L vs. RMAP.L - Drawdown Comparison
The maximum PHGP.L drawdown since its inception was -42.06%, which is greater than RMAP.L's maximum drawdown of -27.31%. Use the drawdown chart below to compare losses from any high point for PHGP.L and RMAP.L.
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Drawdown Indicators
| PHGP.L | RMAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.06% | -27.31% | -14.75% |
Max Drawdown (1Y)Largest decline over 1 year | -17.49% | -27.31% | +9.82% |
Max Drawdown (3Y)Largest decline over 3 years | -17.49% | -27.31% | +9.82% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -27.31% | +9.82% |
Max Drawdown (10Y)Largest decline over 10 years | -22.37% | — | — |
Current DrawdownCurrent decline from peak | -16.07% | -18.98% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -13.50% | -7.28% | -6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 13.76% | -7.07% |
Volatility
PHGP.L vs. RMAP.L - Volatility Comparison
WisdomTree Physical Gold (PHGP.L) and HANetf The Royal Mint Responsibly Sourced Physical Gold ETC (RMAP.L) have volatilities of 5.10% and 5.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHGP.L | RMAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 5.08% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 19.92% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.05% | 47.58% | -24.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 24.84% | -8.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 23.73% | -7.93% |
PHGP.L vs. RMAP.L - Expense Ratio Comparison
PHGP.L has a 0.39% expense ratio, which is higher than RMAP.L's 0.22% expense ratio.
Dividends
PHGP.L vs. RMAP.L - Dividend Comparison
Neither PHGP.L nor RMAP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, PHGP.L and RMAP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, RMAP.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RMAP.L is cheaper with a 0.22% expense ratio, compared with 0.39% for PHGP.L.
Both ETFs track Gold. They also come from different issuers: WisdomTree and HANetf. Their fees differ too: 0.39% for PHGP.L and 0.22% for RMAP.L.
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