PHSP.L vs. SOYO.L

Last updated Jun 4, 2026

PHSP.L (WisdomTree Physical Silver) and SOYO.L (WisdomTree Soybean Oil) are both exchange-traded funds - PHSP.L is a Silver fund tracking the LBMA Silver Price, while SOYO.L is a Agricultural Commodities fund tracking the Bloomberg Soybean Oil. Both are passively managed. Over the past 10 years, PHSP.L returned 16.53%/yr vs 10.84%/yr for SOYO.L. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.

Performance

PHSP.L vs. SOYO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Physical Silver (PHSP.L) and WisdomTree Soybean Oil (SOYO.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PHSP.L is traded in GBp, while SOYO.L is traded in USD. To make them comparable, the SOYO.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 SOYO.L's 61.56% return. Over the past 10 years, PHSP.L has outperformed SOYO.L with an annualized return of 16.53%, while SOYO.L has yielded a comparatively lower 10.84% 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%

SOYO.L

• 1D: 1.14%
• 1M: 6.61%
• YTD: 61.56%
• 6M: 50.67%
• 1Y: 69.16%
• 3Y*: 17.17%
• 5Y*: 8.57%
• 10Y*: 10.84%

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

PHSP.L vs. SOYO.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%
SOYO.L WisdomTree Soybean Oil	61.56%	12.31%	-14.72%	-24.81%	47.25%	51.07%	9.68%	14.56%	-13.92%	-17.61%

Correlation

The correlation between PHSP.L and SOYO.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Nov 6, 2007	0.17

The correlation between PHSP.L and SOYO.L shifts across timeframes, from -0.01 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PHSP.L vs. SOYO.L — 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

SOYO.L

SOYO.L Risk / Return Rank: 78
SOYO.L Sharpe Ratio Rank: 87
SOYO.L Sortino Ratio Rank: 85
SOYO.L Omega Ratio Rank: 79
SOYO.L Calmar Ratio Rank: 84
SOYO.L Martin Ratio Rank: 56

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. SOYO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Silver (PHSP.L) and WisdomTree Soybean Oil (SOYO.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	SOYO.L	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.74	-0.66
Sortino ratio: Return per unit of downside risk	2.40	3.61	-1.21
Omega ratio: Gain probability vs. loss probability	1.36	1.44	-0.08
Calmar ratio: Return relative to maximum drawdown	2.90	4.32	-1.42
Martin ratio: Return relative to average drawdown	6.40	8.94	-2.53
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. SOYO.L - Sharpe Ratio Comparison

The current PHSP.L Sharpe Ratio is 2.08, which is comparable to the SOYO.L Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of PHSP.L and SOYO.L, 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	SOYO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	2.74	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.28	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.41	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.16	+0.21

Drawdowns

PHSP.L vs. SOYO.L - Drawdown Comparison

The maximum PHSP.L drawdown since its inception was -70.01%, roughly equal to the maximum SOYO.L drawdown of -71.10%. Use the drawdown chart below to compare losses from any high point for PHSP.L and SOYO.L.

Drawdown Indicators

	PHSP.L	SOYO.L	Difference
Max Drawdown Largest peak-to-trough decline	-70.01%	-71.10%	+1.09%
Max Drawdown (1Y) Largest decline over 1 year	-38.75%	-15.94%	-22.81%
Max Drawdown (3Y) Largest decline over 3 years	-38.75%	-40.57%	+1.82%
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	-50.82%	+12.07%
Max Drawdown (10Y) Largest decline over 10 years	-38.75%	-50.82%	+12.07%
Current Drawdown Current decline from peak	-34.02%	-2.17%	-31.85%
Average Drawdown Average peak-to-trough decline	-40.07%	-43.95%	+3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.60%	7.72%	+9.88%

Volatility

PHSP.L vs. SOYO.L - Volatility Comparison

WisdomTree Physical Silver (PHSP.L) has a higher volatility of 16.44% compared to WisdomTree Soybean Oil (SOYO.L) at 6.96%. This indicates that PHSP.L's price experiences larger fluctuations and is considered to be riskier than SOYO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHSP.L	SOYO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.44%	6.96%	+9.48%
Volatility (6M) Calculated over the trailing 6-month period	51.39%	17.77%	+33.62%
Volatility (1Y) Calculated over the trailing 1-year period	54.02%	25.15%	+28.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.99%	30.41%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.25%	26.40%	+2.85%

PHSP.L vs. SOYO.L - Expense Ratio Comparison

Both PHSP.L and SOYO.L have an expense ratio of 0.49%.

Dividends

PHSP.L vs. SOYO.L - Dividend Comparison

Neither PHSP.L nor SOYO.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

PHSP.L and SOYO.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PHSP.L or SOYO.L?

Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PHSP.L or SOYO.L?

PHSP.L and SOYO.L have the same expense ratio: 0.49% per year.

What is the main difference between PHSP.L and SOYO.L?

PHSP.L is categorized as Silver, while SOYO.L is Agricultural Commodities. PHSP.L tracks LBMA Silver Price, while SOYO.L tracks Bloomberg Soybean Oil.