PHGP.L vs. SEMB.L
PHGP.L (WisdomTree Physical Gold) and SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) are both exchange-traded funds - PHGP.L is a Precious Metals fund tracking the Gold, while SEMB.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 10 years, PHGP.L returned 14.02%/yr vs 5.65%/yr for SEMB.L. At a 0.25 correlation, their price movements are largely independent. PHGP.L charges 0.39%/yr vs 0.45%/yr for SEMB.L.
Performance
PHGP.L vs. SEMB.L - Performance Comparison
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Returns By Period
In the year-to-date period, PHGP.L achieves a 3.81% return, which is significantly higher than SEMB.L's 2.75% return. Over the past 10 years, PHGP.L has outperformed SEMB.L with an annualized return of 14.02%, while SEMB.L has yielded a comparatively lower 5.65% annualized 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%
SEMB.L
- 1D
- 0.37%
- 1M
- 2.16%
- YTD
- 2.75%
- 6M
- 2.73%
- 1Y
- 14.74%
- 3Y*
- 8.83%
- 5Y*
- 4.65%
- 10Y*
- 5.65%
PHGP.L vs. SEMB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHGP.L WisdomTree Physical Gold | 3.81% | 53.14% | 27.85% | 6.97% | 11.52% | -3.11% | 19.74% | 14.47% | 4.18% | 1.55% |
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 2.75% | 8.06% | 9.19% | 6.03% | -7.53% | 0.41% | 3.12% | 13.82% | 1.58% | 1.51% |
Correlation
The correlation between PHGP.L and SEMB.L is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2008 | 0.25 |
Over the past year, the correlation between PHGP.L and SEMB.L has dropped to 0.04 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
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Return for Risk
PHGP.L vs. SEMB.L — Risk / Return Rank
PHGP.L
SEMB.L
PHGP.L vs. SEMB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold (PHGP.L) and iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.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 | SEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.44 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 3.98 | -2.08 |
| Martin ratioReturn relative to average drawdown | 4.96 | 12.19 | -7.22 |
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
| PHGP.L | SEMB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 2.46 | -1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.53 | +0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.53 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.82 | -0.16 |
Drawdowns
PHGP.L vs. SEMB.L - Drawdown Comparison
The maximum PHGP.L drawdown since its inception was -42.06%, which is greater than SEMB.L's maximum drawdown of -21.74%. Use the drawdown chart below to compare losses from any high point for PHGP.L and SEMB.L.
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Drawdown Indicators
| PHGP.L | SEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.06% | -21.74% | -20.32% |
Max Drawdown (1Y)Largest decline over 1 year | -17.49% | -3.69% | -13.80% |
Max Drawdown (3Y)Largest decline over 3 years | -17.49% | -8.69% | -8.80% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -13.70% | -3.79% |
Max Drawdown (10Y)Largest decline over 10 years | -22.37% | -20.43% | -1.94% |
Current DrawdownCurrent decline from peak | -16.07% | 0.00% | -16.07% |
Average DrawdownAverage peak-to-trough decline | -13.50% | -4.52% | -8.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 1.21% | +5.48% |
Volatility
PHGP.L vs. SEMB.L - Volatility Comparison
WisdomTree Physical Gold (PHGP.L) has a higher volatility of 5.10% compared to iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) at 1.77%. This indicates that PHGP.L's price experiences larger fluctuations and is considered to be riskier than SEMB.L 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 | SEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 1.77% | +3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 4.41% | +15.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.05% | 5.96% | +17.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 8.76% | +7.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 10.67% | +5.13% |
PHGP.L vs. SEMB.L - Expense Ratio Comparison
PHGP.L has a 0.39% expense ratio, which is lower than SEMB.L's 0.45% expense ratio.
Dividends
PHGP.L vs. SEMB.L - Dividend Comparison
PHGP.L has not paid dividends to shareholders, while SEMB.L's dividend yield for the trailing twelve months is around 7.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHGP.L WisdomTree Physical Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 7.83% | 7.87% | 7.27% | 7.21% | 6.70% | 5.35% | 5.28% | 6.25% | 6.15% | 6.48% | 6.88% | 7.10% |
Frequently Asked Questions
PHGP.L and SEMB.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PHGP.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PHGP.L is cheaper with a 0.39% expense ratio, compared with 0.45% for SEMB.L.
PHGP.L is categorized as Precious Metals, while SEMB.L is Emerging Markets Bonds. PHGP.L tracks Gold, while SEMB.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.39% for PHGP.L and 0.45% for SEMB.L.
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