PHGP.L vs. SPGP.L
PHGP.L (WisdomTree Physical Gold) and SPGP.L (iShares Gold Producers UCITS ETF) are both Precious Metals funds - PHGP.L tracks the Gold while SPGP.L tracks the EMIX Global Mining Global Gold TR USD. Both are passively managed. Over the past 10 years, PHGP.L returned 14.02%/yr vs 14.96%/yr for SPGP.L. A 0.70 correlation means they provide meaningful diversification when combined. PHGP.L charges 0.39%/yr vs 0.55%/yr for SPGP.L.
Performance
PHGP.L vs. SPGP.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 SPGP.L's 1.44% return. Over the past 10 years, PHGP.L has underperformed SPGP.L with an annualized return of 14.02%, while SPGP.L has yielded a comparatively higher 14.96% 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%
SPGP.L
- 1D
- 0.61%
- 1M
- 0.17%
- YTD
- 1.44%
- 6M
- 6.67%
- 1Y
- 64.79%
- 3Y*
- 38.31%
- 5Y*
- 19.91%
- 10Y*
- 14.96%
PHGP.L vs. SPGP.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% |
SPGP.L iShares Gold Producers UCITS ETF | 1.44% | 137.41% | 12.81% | 3.72% | -0.45% | -9.15% | 19.43% | 41.00% | -4.37% | -2.80% |
Correlation
The correlation between PHGP.L and SPGP.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2011 | 0.70 |
The correlation between PHGP.L and SPGP.L has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
PHGP.L vs. SPGP.L — Risk / Return Rank
PHGP.L
SPGP.L
PHGP.L vs. SPGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold (PHGP.L) and iShares Gold Producers UCITS ETF (SPGP.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 | SPGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.27 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 2.33 | -0.44 |
| Martin ratioReturn relative to average drawdown | 4.96 | 5.97 | -1.01 |
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 | SPGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.60 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.63 | +0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.46 | +0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.12 | +0.54 |
Drawdowns
PHGP.L vs. SPGP.L - Drawdown Comparison
The maximum PHGP.L drawdown since its inception was -42.06%, smaller than the maximum SPGP.L drawdown of -79.54%. Use the drawdown chart below to compare losses from any high point for PHGP.L and SPGP.L.
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Drawdown Indicators
| PHGP.L | SPGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.06% | -79.54% | +37.48% |
Max Drawdown (1Y)Largest decline over 1 year | -17.49% | -27.66% | +10.17% |
Max Drawdown (3Y)Largest decline over 3 years | -17.49% | -27.66% | +10.17% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -34.81% | +17.32% |
Max Drawdown (10Y)Largest decline over 10 years | -22.37% | -43.71% | +21.34% |
Current DrawdownCurrent decline from peak | -16.07% | -24.04% | +7.97% |
Average DrawdownAverage peak-to-trough decline | -13.50% | -42.31% | +28.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 10.81% | -4.12% |
Volatility
PHGP.L vs. SPGP.L - Volatility Comparison
The current volatility for WisdomTree Physical Gold (PHGP.L) is 5.10%, while iShares Gold Producers UCITS ETF (SPGP.L) has a volatility of 13.10%. This indicates that PHGP.L experiences smaller price fluctuations and is considered to be less risky than SPGP.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 | SPGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 13.10% | -8.00% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 32.23% | -12.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.05% | 40.28% | -17.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 31.56% | -15.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 32.31% | -16.51% |
PHGP.L vs. SPGP.L - Expense Ratio Comparison
PHGP.L has a 0.39% expense ratio, which is lower than SPGP.L's 0.55% expense ratio.
Dividends
PHGP.L vs. SPGP.L - Dividend Comparison
Neither PHGP.L nor SPGP.L has paid dividends to shareholders.
Frequently Asked Questions
PHGP.L and SPGP.L have a correlation of 0.76, 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 0.55% for SPGP.L.
PHGP.L tracks Gold, while SPGP.L tracks EMIX Global Mining Global Gold TR USD. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.39% for PHGP.L and 0.55% for SPGP.L.
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