PHPP.L vs. GLDW.L
PHPP.L (WisdomTree Physical Precious Metals) and GLDW.L (WisdomTree Core Physical Gold) are both Precious Metals funds from WisdomTree - PHPP.L tracks the Precious Metals Basket while GLDW.L tracks the Gold. Both are passively managed. Over the past 5 years, PHPP.L returned 12.75%/yr vs 19.87%/yr for GLDW.L. A 0.78 correlation means they provide meaningful diversification when combined. PHPP.L charges 0.44%/yr vs 0.12%/yr for GLDW.L.
Performance
PHPP.L vs. GLDW.L - Performance Comparison
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Returns By Period
In the year-to-date period, PHPP.L achieves a 0.99% return, which is significantly lower than GLDW.L's 3.96% return.
PHPP.L
- 1D
- 0.37%
- 1M
- -1.92%
- YTD
- 0.99%
- 6M
- 9.62%
- 1Y
- 51.59%
- 3Y*
- 25.31%
- 5Y*
- 12.75%
- 10Y*
- 13.52%
GLDW.L
- 1D
- 0.63%
- 1M
- -1.34%
- YTD
- 3.96%
- 6M
- 5.38%
- 1Y
- 33.68%
- 3Y*
- 28.15%
- 5Y*
- 19.87%
- 10Y*
- —
PHPP.L vs. GLDW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PHPP.L WisdomTree Physical Precious Metals | 0.99% | 72.45% | 17.27% | -8.55% | 11.64% | -5.54% |
GLDW.L WisdomTree Core Physical Gold | 3.96% | 53.57% | 28.18% | 7.26% | 11.82% | 9.07% |
Correlation
The correlation between PHPP.L and GLDW.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2021 | 0.78 |
The correlation between PHPP.L and GLDW.L shifts across timeframes, from 0.78 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PHPP.L vs. GLDW.L — Risk / Return Rank
PHPP.L
GLDW.L
PHPP.L vs. GLDW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Precious Metals (PHPP.L) and WisdomTree Core Physical Gold (GLDW.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.
| PHPP.L | GLDW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 1.88 | +0.23 |
| Martin ratioReturn relative to average drawdown | 5.01 | 5.05 | -0.04 |
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
| PHPP.L | GLDW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 1.46 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 1.23 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 1.30 | -0.79 |
Drawdowns
PHPP.L vs. GLDW.L - Drawdown Comparison
The maximum PHPP.L drawdown since its inception was -49.43%, which is greater than GLDW.L's maximum drawdown of -17.86%. Use the drawdown chart below to compare losses from any high point for PHPP.L and GLDW.L.
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Drawdown Indicators
| PHPP.L | GLDW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.43% | -17.86% | -31.57% |
Max Drawdown (1Y)Largest decline over 1 year | -24.37% | -17.86% | -6.51% |
Max Drawdown (3Y)Largest decline over 3 years | -24.37% | -17.86% | -6.51% |
Max Drawdown (5Y)Largest decline over 5 years | -26.89% | -17.86% | -9.03% |
Max Drawdown (10Y)Largest decline over 10 years | -26.89% | — | — |
Current DrawdownCurrent decline from peak | -22.56% | -15.93% | -6.63% |
Average DrawdownAverage peak-to-trough decline | -18.70% | -3.58% | -15.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.26% | 6.65% | +3.61% |
Volatility
PHPP.L vs. GLDW.L - Volatility Comparison
WisdomTree Physical Precious Metals (PHPP.L) has a higher volatility of 7.69% compared to WisdomTree Core Physical Gold (GLDW.L) at 5.09%. This indicates that PHPP.L's price experiences larger fluctuations and is considered to be riskier than GLDW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHPP.L | GLDW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.69% | 5.09% | +2.60% |
Volatility (6M)Calculated over the trailing 6-month period | 29.24% | 19.81% | +9.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.86% | 22.95% | +8.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 16.09% | +5.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.84% | 15.94% | +3.90% |
PHPP.L vs. GLDW.L - Expense Ratio Comparison
PHPP.L has a 0.44% expense ratio, which is higher than GLDW.L's 0.12% expense ratio.
Dividends
PHPP.L vs. GLDW.L - Dividend Comparison
Neither PHPP.L nor GLDW.L has paid dividends to shareholders.
Frequently Asked Questions
PHPP.L and GLDW.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDW.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDW.L is cheaper with a 0.12% expense ratio, compared with 0.44% for PHPP.L.
PHPP.L tracks Precious Metals Basket, while GLDW.L tracks Gold. Their fees differ too: 0.44% for PHPP.L and 0.12% for GLDW.L.
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