PHGP.L vs. XGDG.L

Last updated Jun 5, 2026

PHGP.L (WisdomTree Physical Gold) and XGDG.L (Xtrackers IE Physical Gold GBP Hedged ETC Securities) are both Precious Metals funds - PHGP.L tracks the Gold while XGDG.L tracks the Gold (GBP Hedged). Both are passively managed. Over the past 5 years, PHGP.L returned 19.54%/yr vs 17.04%/yr for XGDG.L. A 0.79 correlation means they provide meaningful diversification when combined. PHGP.L charges 0.39%/yr vs 0.28%/yr for XGDG.L.

Performance

PHGP.L vs. XGDG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Physical Gold (PHGP.L) and Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHGP.L achieves a 3.81% return, which is significantly higher than XGDG.L's 3.04% 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%

XGDG.L

• 1D: 0.66%
• 1M: -2.45%
• YTD: 3.04%
• 6M: 5.30%
• 1Y: 30.85%
• 3Y*: 30.11%
• 5Y*: 17.04%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PHGP.L vs. XGDG.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%	-2.73%
XGDG.L Xtrackers IE Physical Gold GBP Hedged ETC Securities	3.04%	63.15%	25.16%	11.50%	-1.40%	-5.50%	6.91%

Correlation

The correlation between PHGP.L and XGDG.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 26, 2020	0.79

The correlation between PHGP.L and XGDG.L shifts across timeframes, from 0.79 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PHGP.L vs. XGDG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PHGP.L

PHGP.L Risk / Return Rank: 39
PHGP.L Sharpe Ratio Rank: 42
PHGP.L Sortino Ratio Rank: 37
PHGP.L Omega Ratio Rank: 46
PHGP.L Calmar Ratio Rank: 39
PHGP.L Martin Ratio Rank: 34

XGDG.L

XGDG.L Risk / Return Rank: 33
XGDG.L Sharpe Ratio Rank: 34
XGDG.L Sortino Ratio Rank: 31
XGDG.L Omega Ratio Rank: 37
XGDG.L Calmar Ratio Rank: 34
XGDG.L Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PHGP.L vs. XGDG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold (PHGP.L) and Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.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	XGDG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.22	+0.22
Sortino ratio: Return per unit of downside risk	1.88	1.63	+0.25
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.05
Calmar ratio: Return relative to maximum drawdown	1.89	1.66	+0.24
Martin ratio: Return relative to average drawdown	4.96	4.40	+0.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHGP.L vs. XGDG.L - Sharpe Ratio Comparison

The current PHGP.L Sharpe Ratio is 1.44, which is comparable to the XGDG.L Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of PHGP.L and XGDG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PHGP.L	XGDG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.22	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.21	0.98	+0.23
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	0.87	-0.21

Drawdowns

PHGP.L vs. XGDG.L - Drawdown Comparison

The maximum PHGP.L drawdown since its inception was -42.06%, which is greater than XGDG.L's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for PHGP.L and XGDG.L.

Drawdown Indicators

	PHGP.L	XGDG.L	Difference
Max Drawdown Largest peak-to-trough decline	-42.06%	-23.31%	-18.75%
Max Drawdown (1Y) Largest decline over 1 year	-17.49%	-18.55%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-17.49%	-18.55%	+1.06%
Max Drawdown (5Y) Largest decline over 5 years	-17.49%	-21.90%	+4.41%
Max Drawdown (10Y) Largest decline over 10 years	-22.37%	—	—
Current Drawdown Current decline from peak	-16.07%	-16.27%	+0.20%
Average Drawdown Average peak-to-trough decline	-13.50%	-8.24%	-5.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.69%	6.99%	-0.30%

Volatility

PHGP.L vs. XGDG.L - Volatility Comparison

The current volatility for WisdomTree Physical Gold (PHGP.L) is 5.10%, while Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) has a volatility of 6.31%. This indicates that PHGP.L experiences smaller price fluctuations and is considered to be less risky than XGDG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHGP.L	XGDG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	6.31%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	19.93%	22.33%	-2.40%
Volatility (1Y) Calculated over the trailing 1-year period	23.05%	25.24%	-2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.21%	17.42%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.80%	17.30%	-1.50%

PHGP.L vs. XGDG.L - Expense Ratio Comparison

PHGP.L has a 0.39% expense ratio, which is higher than XGDG.L's 0.28% expense ratio.

Dividends

PHGP.L vs. XGDG.L - Dividend Comparison

Neither PHGP.L nor XGDG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PHGP.L and XGDG.L in my portfolio?

With a correlation of 0.94, PHGP.L and XGDG.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.

Which ETF is better, PHGP.L or XGDG.L?

On fees, XGDG.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PHGP.L or XGDG.L?

XGDG.L is cheaper with a 0.28% expense ratio, compared with 0.39% for PHGP.L.

What is the main difference between PHGP.L and XGDG.L?

PHGP.L tracks Gold, while XGDG.L tracks Gold (GBP Hedged). They also come from different issuers: WisdomTree and Xtrackers. Their fees differ too: 0.39% for PHGP.L and 0.28% for XGDG.L.