PHSP.L vs. ISLN.L
PHSP.L (WisdomTree Physical Silver) and ISLN.L (iShares Physical Silver ETC) are both Silver funds tracking the LBMA Silver Price, from WisdomTree and iShares respectively. Both are passively managed. Over the past 10 years, PHSP.L returned 16.53%/yr vs 16.76%/yr for ISLN.L. Their correlation of 0.92 suggests significant overlap in exposure. PHSP.L charges 0.49%/yr vs 0.20%/yr for ISLN.L.
Performance
PHSP.L vs. ISLN.L - Performance Comparison
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Different Trading Currencies
PHSP.L is traded in GBp, while ISLN.L is traded in USD. To make them comparable, the ISLN.L 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 ISLN.L's 2.81% return. Both investments have delivered pretty close results over the past 10 years, with PHSP.L having a 16.53% annualized return and ISLN.L not far ahead at 16.76%.
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%
ISLN.L
- 1D
- -3.07%
- 1M
- -2.37%
- YTD
- 2.81%
- 6M
- 24.16%
- 1Y
- 113.94%
- 3Y*
- 41.81%
- 5Y*
- 22.50%
- 10Y*
- 16.76%
PHSP.L vs. ISLN.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% |
ISLN.L iShares Physical Silver ETC | 2.81% | 129.95% | 23.24% | -5.73% | 15.69% | -12.02% | 41.57% | 11.93% | -3.35% | -5.28% |
Correlation
The correlation between PHSP.L and ISLN.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.92 |
The correlation between PHSP.L and ISLN.L has been stable across timeframes, ranging from 0.92 to 0.99 - a consistent structural relationship.
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Return for Risk
PHSP.L vs. ISLN.L — Risk / Return Rank
PHSP.L
ISLN.L
PHSP.L vs. ISLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Silver (PHSP.L) and iShares Physical Silver ETC (ISLN.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 | ISLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.92 | -0.02 |
| Martin ratioReturn relative to average drawdown | 6.40 | 6.45 | -0.05 |
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 | ISLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 2.04 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.66 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.56 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.17 | +0.21 |
Drawdowns
PHSP.L vs. ISLN.L - Drawdown Comparison
The maximum PHSP.L drawdown since its inception was -70.01%, roughly equal to the maximum ISLN.L drawdown of -69.93%. Use the drawdown chart below to compare losses from any high point for PHSP.L and ISLN.L.
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Drawdown Indicators
| PHSP.L | ISLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.01% | -69.93% | -0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -38.75% | -38.79% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -38.75% | -38.79% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | -38.79% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -38.79% | +0.04% |
Current DrawdownCurrent decline from peak | -34.02% | -33.94% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -40.07% | -45.59% | +5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.60% | 17.60% | 0.00% |
Volatility
PHSP.L vs. ISLN.L - Volatility Comparison
WisdomTree Physical Silver (PHSP.L) and iShares Physical Silver ETC (ISLN.L) have volatilities of 16.44% and 17.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHSP.L | ISLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.44% | 17.27% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 51.39% | 53.08% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.02% | 55.64% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.99% | 33.88% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.25% | 30.11% | -0.86% |
PHSP.L vs. ISLN.L - Expense Ratio Comparison
PHSP.L has a 0.49% expense ratio, which is higher than ISLN.L's 0.20% expense ratio.
Dividends
PHSP.L vs. ISLN.L - Dividend Comparison
Neither PHSP.L nor ISLN.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, PHSP.L and ISLN.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ISLN.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISLN.L is cheaper with a 0.20% expense ratio, compared with 0.49% for PHSP.L.
Both ETFs track LBMA Silver Price. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.49% for PHSP.L and 0.20% for ISLN.L.
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