PHPP.L vs. USD=X
PHPP.L (WisdomTree Physical Precious Metals) is Precious Metals fund tracking the Precious Metals Basket, while USD=X (USD Cash) is a currency. Over the past 10 years, PHPP.L returned 11.97%/yr vs 0.52%/yr for USD=X. At a 0.08 correlation, their price movements are largely independent.
Performance
PHPP.L vs. USD=X - Performance Comparison
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Different Trading Currencies
PHPP.L is traded in GBp, while USD=X is traded in USD. To make them comparable, the USD=X values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PHPP.L achieves a -8.39% return, which is significantly lower than USD=X's 0.54% return. Over the past 10 years, PHPP.L has outperformed USD=X with an annualized return of 11.97%, while USD=X has yielded a comparatively lower 0.52% annualized return.
PHPP.L
- 1D
- -0.66%
- 1M
- -15.30%
- YTD
- -8.39%
- 6M
- -3.53%
- 1Y
- 34.65%
- 3Y*
- 21.96%
- 5Y*
- 10.65%
- 10Y*
- 11.97%
USD=X
- 1D
- 0.00%
- 1M
- 1.03%
- YTD
- 0.54%
- 6M
- -0.11%
- 1Y
- 1.12%
- 3Y*
- -2.01%
- 5Y*
- 1.04%
- 10Y*
- 0.52%
PHPP.L vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHPP.L WisdomTree Physical Precious Metals | -8.39% | 72.45% | 17.27% | -8.55% | 11.64% | -10.26% | 22.29% | 22.41% | 5.44% | 5.38% |
USD=X USD Cash | 0.54% | -7.12% | 1.75% | -5.00% | 11.89% | 0.95% | -2.94% | -3.80% | 5.93% | -8.65% |
Correlation
The correlation between PHPP.L and USD=X is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.08 |
The correlation between PHPP.L and USD=X shifts across timeframes, from -0.10 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PHPP.L vs. USD=X — Risk / Return Rank
PHPP.L
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PHPP.L vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Precious Metals (PHPP.L) and USD Cash (USD=X). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PHPP.L | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.04 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.27 | +0.89 |
| Martin ratioReturn relative to average drawdown | 3.15 | 0.61 | +2.54 |
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Drawdowns
PHPP.L vs. USD=X - Drawdown Comparison
The maximum PHPP.L drawdown since its inception was -59.50%, which is greater than USD=X's maximum drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for PHPP.L and USD=X.
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Drawdown Indicators
| PHPP.L | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.50% | -22.85% | -36.65% |
Max Drawdown (1Y)Largest decline over 1 year | -29.75% | -5.98% | -23.77% |
Max Drawdown (3Y)Largest decline over 3 years | -29.75% | -12.79% | -16.96% |
Max Drawdown (5Y)Largest decline over 5 years | -29.75% | -22.85% | -6.90% |
Max Drawdown (10Y)Largest decline over 10 years | -29.75% | -22.85% | -6.90% |
Current DrawdownCurrent decline from peak | -29.75% | -20.27% | -9.48% |
Average DrawdownAverage peak-to-trough decline | -22.65% | -11.08% | -11.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.97% | 2.95% | +8.02% |
Volatility
PHPP.L vs. USD=X - Volatility Comparison
WisdomTree Physical Precious Metals (PHPP.L) has a higher volatility of 7.62% compared to USD Cash (USD=X) at 1.76%. This indicates that PHPP.L's price experiences larger fluctuations and is considered to be riskier than USD=X 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 | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.62% | 1.76% | +5.86% |
Volatility (6M)Calculated over the trailing 6-month period | 29.66% | 5.20% | +24.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.31% | 5.75% | +26.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.62% | 7.12% | +14.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.87% | 7.91% | +11.96% |
Frequently Asked Questions
PHPP.L and USD=X have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for PHPP.L and USD=X
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