PHSP.L vs. IUSE.L
PHSP.L (WisdomTree Physical Silver) and IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) are both exchange-traded funds - PHSP.L is a Silver fund tracking the LBMA Silver Price, while IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index. Both are passively managed. Over the past 10 years, PHSP.L returned 10.07%/yr vs 12.15%/yr for IUSE.L. At a 0.19 correlation, their price movements are largely independent. PHSP.L charges 0.49%/yr vs 0.20%/yr for IUSE.L.
Performance
PHSP.L vs. IUSE.L - Performance Comparison
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Different Trading Currencies
PHSP.L is traded in GBp, while IUSE.L is traded in EUR. To make them comparable, the IUSE.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 -22.02% return, which is significantly lower than IUSE.L's 4.87% return. Over the past 10 years, PHSP.L has underperformed IUSE.L with an annualized return of 10.07%, while IUSE.L has yielded a comparatively higher 12.15% annualized return.
PHSP.L
- 1D
- -0.64%
- 1M
- -16.75%
- 6M
- -37.43%
- YTD
- -22.02%
- 1Y
- 45.55%
- 3Y*
- 28.72%
- 5Y*
- 16.80%
- 10Y*
- 10.07%
IUSE.L
- 1D
- -1.18%
- 1M
- -2.19%
- 6M
- 4.60%
- YTD
- 4.87%
- 1Y
- 14.85%
- 3Y*
- 16.37%
- 5Y*
- 9.95%
- 10Y*
- 12.15%
PHSP.L vs. IUSE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHSP.L WisdomTree Physical Silver | -22.02% | 129.68% | 22.85% | -6.51% | 15.50% | -12.11% | 40.85% | 12.57% | -3.55% | -5.67% |
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 4.87% | 21.10% | 17.61% | 20.60% | -17.10% | 20.27% | 21.31% | 19.17% | -7.49% | 24.12% |
Correlation
The correlation between PHSP.L and IUSE.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | 0.19 |
The correlation between PHSP.L and IUSE.L shifts across timeframes, from 0.17 (5 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PHSP.L vs. IUSE.L — Risk / Return Rank
PHSP.L
IUSE.L
PHSP.L vs. IUSE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Silver (PHSP.L) and iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.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.
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.
| PHSP.L | IUSE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.70 | -0.78 |
| Martin ratioReturn relative to average drawdown | 1.96 | 6.35 | -4.39 |
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Drawdowns
PHSP.L vs. IUSE.L - Drawdown Comparison
The maximum PHSP.L drawdown since its inception was -70.04%, which is greater than IUSE.L's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for PHSP.L and IUSE.L.
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Drawdown Indicators
| PHSP.L | IUSE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.04% | -27.56% | -42.48% |
Max Drawdown (1Y)Largest decline over 1 year | -49.80% | -8.92% | -40.88% |
Max Drawdown (3Y)Largest decline over 3 years | -49.80% | -17.08% | -32.72% |
Max Drawdown (5Y)Largest decline over 5 years | -49.80% | -23.84% | -25.96% |
Max Drawdown (10Y)Largest decline over 10 years | -49.80% | -27.56% | -22.24% |
Current DrawdownCurrent decline from peak | -49.80% | -3.52% | -46.28% |
Average DrawdownAverage peak-to-trough decline | -44.03% | -5.06% | -38.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.43% | 2.40% | +21.03% |
Volatility
PHSP.L vs. IUSE.L - Volatility Comparison
WisdomTree Physical Silver (PHSP.L) has a higher volatility of 12.52% compared to iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) at 3.14%. This indicates that PHSP.L's price experiences larger fluctuations and is considered to be riskier than IUSE.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 | IUSE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.52% | 3.14% | +9.38% |
Volatility (6M)Calculated over the trailing 6-month period | 50.48% | 9.43% | +41.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.31% | 12.12% | +44.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.72% | 16.06% | +20.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.04% | 16.51% | +14.53% |
PHSP.L vs. IUSE.L - Expense Ratio Comparison
PHSP.L has a 0.49% expense ratio, which is higher than IUSE.L's 0.20% expense ratio.
Dividends
PHSP.L vs. IUSE.L - Dividend Comparison
Neither PHSP.L nor IUSE.L has paid dividends to shareholders.
Frequently Asked Questions
PHSP.L and IUSE.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSE.L is cheaper with a 0.20% expense ratio, compared with 0.49% for PHSP.L.
PHSP.L is categorized as Silver, while IUSE.L is S&P 500. PHSP.L tracks LBMA Silver Price, while IUSE.L tracks S&P 500 EUR Hedged Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.49% for PHSP.L and 0.20% for IUSE.L.
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