PHSP.L vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about WisdomTree Physical Silver (PHSP.L) and S&P 500 Index (^GSPC).

PHSP.L is a passively managed fund by WisdomTree that tracks the performance of the Silver. It was launched on Apr 24, 2007.

Performance

PHSP.L vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Physical Silver (PHSP.L) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

PHSP.L vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHSP.L WisdomTree Physical Silver	6.27%	129.68%	22.85%	-6.51%	15.50%	-12.11%	40.85%	12.57%	-3.55%	-5.67%
^GSPC S&P 500 Index	-2.36%	8.10%	25.46%	18.02%	-9.86%	28.09%	12.84%	23.98%	-0.68%	9.09%

Different Trading Currencies

PHSP.L is traded in GBp, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, PHSP.L achieves a 6.27% return, which is significantly higher than ^GSPC's -2.36% return. Over the past 10 years, PHSP.L has outperformed ^GSPC with an annualized return of 17.82%, while ^GSPC has yielded a comparatively lower 13.04% annualized return.

PHSP.L

• 1D: 1.53%
• 1M: -13.55%
• YTD: 6.27%
• 6M: 60.81%
• 1Y: 115.34%
• 3Y*: 42.09%
• 5Y*: 25.29%
• 10Y*: 17.82%

^GSPC

• 1D: 0.49%
• 1M: -3.37%
• YTD: -2.36%
• 6M: -0.37%
• 1Y: 13.80%
• 3Y*: 14.19%
• 5Y*: 11.28%
• 10Y*: 13.04%

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

Return for Risk

PHSP.L vs. ^GSPC — Risk / Return Rank

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

PHSP.L

PHSP.L Risk / Return Rank: 88
PHSP.L Sharpe Ratio Rank: 93
PHSP.L Sortino Ratio Rank: 87
PHSP.L Omega Ratio Rank: 91
PHSP.L Calmar Ratio Rank: 88
PHSP.L Martin Ratio Rank: 80

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

PHSP.L vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Silver (PHSP.L) and S&P 500 Index (^GSPC). 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.

	PHSP.L	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	2.23	0.74	+1.49
Sortino ratio Return per unit of downside risk	2.48	1.15	+1.33
Omega ratio Gain probability vs. loss probability	1.40	1.18	+0.22
Calmar ratio Return relative to maximum drawdown	2.97	1.22	+1.75
Martin ratio Return relative to average drawdown	9.33	4.79	+4.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHSP.L vs. ^GSPC - Sharpe Ratio Comparison

The current PHSP.L Sharpe Ratio is 2.23, which is higher than the ^GSPC Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of PHSP.L and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PHSP.L	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	0.74	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.71	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.72	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.55	-0.16

Correlation

The correlation between PHSP.L and ^GSPC is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

PHSP.L vs. ^GSPC - Drawdown Comparison

The maximum PHSP.L drawdown since its inception was -70.01%, which is greater than ^GSPC's maximum drawdown of -37.67%. Use the drawdown chart below to compare losses from any high point for PHSP.L and ^GSPC.

Drawdown Indicators

	PHSP.L	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-70.01%	-56.78%	-13.23%
Max Drawdown (1Y) Largest decline over 1 year	-38.75%	-12.14%	-26.61%
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	-25.43%	-13.32%
Max Drawdown (10Y) Largest decline over 10 years	-38.75%	-33.92%	-4.83%
Current Drawdown Current decline from peak	-31.59%	-5.78%	-25.81%
Average Drawdown Average peak-to-trough decline	-40.15%	-10.75%	-29.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.33%	2.60%	+9.73%

Volatility

PHSP.L vs. ^GSPC - Volatility Comparison

WisdomTree Physical Silver (PHSP.L) has a higher volatility of 18.04% compared to S&P 500 Index (^GSPC) at 4.58%. This indicates that PHSP.L's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHSP.L	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.04%	4.58%	+13.46%
Volatility (6M) Calculated over the trailing 6-month period	49.72%	9.50%	+40.22%
Volatility (1Y) Calculated over the trailing 1-year period	51.53%	18.75%	+32.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.98%	15.90%	+16.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.70%	18.17%	+10.53%