PHSP.L vs. ^GSPC

Last updated Jun 4, 2026

PHSP.L (WisdomTree Physical Silver) is Silver fund tracking the LBMA Silver Price, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, PHSP.L returned 16.53%/yr vs 14.55%/yr for ^GSPC. At a 0.07 correlation, their price movements are largely independent.

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.

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 2.49% return, which is significantly lower than ^GSPC's 10.75% return. Over the past 10 years, PHSP.L has outperformed ^GSPC with an annualized return of 16.53%, while ^GSPC has yielded a comparatively lower 14.55% annualized return.

PHSP.L

• 1D: -3.07%
• 1M: -1.75%
• YTD: 2.49%
• 6M: 23.74%
• 1Y: 113.09%
• 3Y*: 41.45%
• 5Y*: 22.12%
• 10Y*: 16.53%

^GSPC

• 1D: -0.47%
• 1M: 5.75%
• YTD: 10.75%
• 6M: 9.70%
• 1Y: 27.40%
• 3Y*: 17.84%
• 5Y*: 13.50%
• 10Y*: 14.55%

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

PHSP.L vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHSP.L WisdomTree Physical Silver	2.49%	129.68%	22.85%	-6.51%	15.50%	-12.11%	40.85%	12.57%	-3.55%	-5.67%
^GSPC S&P 500 Index	10.75%	8.10%	25.46%	18.02%	-9.86%	28.09%	12.84%	23.98%	-0.68%	9.09%

Correlation

The correlation between PHSP.L and ^GSPC is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Nov 6, 2007	0.07

The correlation between PHSP.L and ^GSPC shifts across timeframes, from 0.00 (5 years) to 0.12 (1 year), reflecting how their relationship changes across market environments.

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: 53
PHSP.L Sharpe Ratio Rank: 61
PHSP.L Sortino Ratio Rank: 48
PHSP.L Omega Ratio Rank: 59
PHSP.L Calmar Ratio Rank: 58
PHSP.L Martin Ratio Rank: 40

^GSPC

^GSPC Risk / Return Rank: 73
^GSPC Sharpe Ratio Rank: 71
^GSPC Sortino Ratio Rank: 71
^GSPC Omega Ratio Rank: 72
^GSPC Calmar Ratio Rank: 67
^GSPC Martin Ratio Rank: 81

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	2.08	2.38	-0.30
Sortino ratio: Return per unit of downside risk	2.40	3.12	-0.72
Omega ratio: Gain probability vs. loss probability	1.36	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.90	3.43	-0.52
Martin ratio: Return relative to average drawdown	6.40	12.79	-6.39
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 2.08, which is comparable to the ^GSPC Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of PHSP.L and ^GSPC, 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

	PHSP.L	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	2.38	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.86	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.80	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.58	-0.21

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 -37.07%. 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%	-37.07%	-32.94%
Max Drawdown (1Y) Largest decline over 1 year	-38.75%	-8.03%	-30.72%
Max Drawdown (3Y) Largest decline over 3 years	-38.75%	-22.15%	-16.60%
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	-22.15%	-16.60%
Max Drawdown (10Y) Largest decline over 10 years	-38.75%	-26.01%	-12.74%
Current Drawdown Current decline from peak	-34.02%	-0.47%	-33.55%
Average Drawdown Average peak-to-trough decline	-40.07%	-5.32%	-34.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.60%	2.15%	+15.45%

Volatility

PHSP.L vs. ^GSPC - Volatility Comparison

WisdomTree Physical Silver (PHSP.L) has a higher volatility of 16.44% compared to S&P 500 Index (^GSPC) at 2.76%. 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	16.44%	2.76%	+13.68%
Volatility (6M) Calculated over the trailing 6-month period	51.39%	8.23%	+43.16%
Volatility (1Y) Calculated over the trailing 1-year period	54.02%	11.56%	+42.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.99%	15.86%	+17.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.25%	18.16%	+11.09%

Frequently Asked Questions

Can I hold both PHSP.L and ^GSPC in my portfolio?

PHSP.L and ^GSPC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.