PHSP.L vs. BULP.L
PHSP.L (WisdomTree Physical Silver) and BULP.L (WisdomTree Gold) are both exchange-traded funds - PHSP.L is a Silver fund tracking the LBMA Silver Price, while BULP.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 10 years, PHSP.L returned 16.53%/yr vs 12.03%/yr for BULP.L. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.
Performance
PHSP.L vs. BULP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PHSP.L having a 2.49% return and BULP.L slightly lower at 2.39%. Over the past 10 years, PHSP.L has outperformed BULP.L with an annualized return of 16.53%, while BULP.L has yielded a comparatively lower 12.03% 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%
BULP.L
- 1D
- -1.17%
- 1M
- -3.01%
- YTD
- 2.39%
- 6M
- 3.31%
- 1Y
- 30.71%
- 3Y*
- 25.55%
- 5Y*
- 17.45%
- 10Y*
- 12.03%
PHSP.L vs. BULP.L - 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% |
BULP.L WisdomTree Gold | 2.39% | 50.05% | 26.15% | 5.12% | 9.83% | -4.73% | 15.76% | 12.89% | 2.70% | 0.05% |
Correlation
The correlation between PHSP.L and BULP.L is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2007 | 0.66 |
The correlation between PHSP.L and BULP.L has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.
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Return for Risk
PHSP.L vs. BULP.L — Risk / Return Rank
PHSP.L
BULP.L
PHSP.L vs. BULP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Silver (PHSP.L) and WisdomTree Gold (BULP.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.
| PHSP.L | BULP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.26 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 1.71 | +1.19 |
| Martin ratioReturn relative to average drawdown | 6.40 | 4.57 | +1.83 |
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
| PHSP.L | BULP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.30 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 1.05 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.74 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.57 | -0.20 |
Drawdowns
PHSP.L vs. BULP.L - Drawdown Comparison
The maximum PHSP.L drawdown since its inception was -70.01%, which is greater than BULP.L's maximum drawdown of -44.90%. Use the drawdown chart below to compare losses from any high point for PHSP.L and BULP.L.
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Drawdown Indicators
| PHSP.L | BULP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.01% | -44.90% | -25.11% |
Max Drawdown (1Y)Largest decline over 1 year | -38.75% | -17.88% | -20.87% |
Max Drawdown (3Y)Largest decline over 3 years | -38.75% | -17.88% | -20.87% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | -17.88% | -20.87% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -23.68% | -15.07% |
Current DrawdownCurrent decline from peak | -34.02% | -16.91% | -17.11% |
Average DrawdownAverage peak-to-trough decline | -40.07% | -16.25% | -23.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.60% | 6.71% | +10.89% |
Volatility
PHSP.L vs. BULP.L - Volatility Comparison
WisdomTree Physical Silver (PHSP.L) has a higher volatility of 16.44% compared to WisdomTree Gold (BULP.L) at 5.10%. This indicates that PHSP.L's price experiences larger fluctuations and is considered to be riskier than BULP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHSP.L | BULP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.44% | 5.10% | +11.34% |
Volatility (6M)Calculated over the trailing 6-month period | 51.39% | 20.04% | +31.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.02% | 23.59% | +30.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.99% | 16.63% | +16.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.25% | 16.23% | +13.02% |
PHSP.L vs. BULP.L - Expense Ratio Comparison
Both PHSP.L and BULP.L have an expense ratio of 0.49%.
Dividends
PHSP.L vs. BULP.L - Dividend Comparison
Neither PHSP.L nor BULP.L has paid dividends to shareholders.
Frequently Asked Questions
PHSP.L and BULP.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
PHSP.L and BULP.L have the same expense ratio: 0.49% per year.
PHSP.L is categorized as Silver, while BULP.L is Precious Metals. PHSP.L tracks LBMA Silver Price, while BULP.L tracks Gold.
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