PHSP.L vs. VALE

Last updated Jun 13, 2026

PHSP.L (WisdomTree Physical Silver) is Silver fund tracking the LBMA Silver Price, while VALE (Vale S.A.) is a stock. Over the past 10 years, PHSP.L returned 14.58%/yr vs 22.68%/yr for VALE. At a 0.20 correlation, their price movements are largely independent.

Performance

PHSP.L vs. VALE - Performance Comparison

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

Different Trading Currencies

PHSP.L is traded in GBp, while VALE is traded in USD. To make them comparable, the VALE 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 -5.51% return, which is significantly lower than VALE's 21.18% return. Over the past 10 years, PHSP.L has underperformed VALE with an annualized return of 14.58%, while VALE has yielded a comparatively higher 22.68% annualized return.

PHSP.L

• 1D: 5.15%
• 1M: -23.06%
• YTD: -5.51%
• 6M: 8.99%
• 1Y: 87.72%
• 3Y*: 38.02%
• 5Y*: 19.89%
• 10Y*: 14.58%

VALE

• 1D: 2.37%
• 1M: -5.89%
• YTD: 21.18%
• 6M: 23.49%
• 1Y: 76.06%
• 3Y*: 10.58%
• 5Y*: 3.44%
• 10Y*: 22.68%

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

PHSP.L vs. VALE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHSP.L WisdomTree Physical Silver	-5.51%	129.68%	22.85%	-6.51%	15.50%	-12.11%	40.85%	12.57%	-3.55%	-5.67%
VALE Vale S.A.	21.18%	49.25%	-37.77%	-3.51%	48.30%	-0.52%	28.51%	-1.19%	18.90%	53.50%

Correlation

The correlation between PHSP.L and VALE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.20

Over the past year, PHSP.L and VALE have become more correlated (0.40) than their long-term average of 0.20, meaning their price movements have been converging.

Return for Risk

PHSP.L vs. VALE — 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: 47
PHSP.L Sharpe Ratio Rank: 53
PHSP.L Sortino Ratio Rank: 46
PHSP.L Omega Ratio Rank: 55
PHSP.L Calmar Ratio Rank: 47
PHSP.L Martin Ratio Rank: 35

VALE

VALE Risk / Return Rank: 89
VALE Sharpe Ratio Rank: 92
VALE Sortino Ratio Rank: 88
VALE Omega Ratio Rank: 88
VALE Calmar Ratio Rank: 88
VALE Martin Ratio Rank: 91

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. VALE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Silver (PHSP.L) and Vale S.A. (VALE). 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	VALE	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.58	-0.99
Sortino ratio: Return per unit of downside risk	2.03	3.17	-1.14
Omega ratio: Gain probability vs. loss probability	1.30	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.07	4.12	-2.05
Martin ratio: Return relative to average drawdown	4.66	13.89	-9.23

PHSP.L vs. VALE - Sharpe Ratio Comparison

The current PHSP.L Sharpe Ratio is 1.59, which is lower than the VALE Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of PHSP.L and VALE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PHSP.L vs. VALE - Drawdown Comparison

The maximum PHSP.L drawdown since its inception was -70.04%, smaller than the maximum VALE drawdown of -91.12%. Use the drawdown chart below to compare losses from any high point for PHSP.L and VALE.

Drawdown Indicators

	PHSP.L	VALE	Difference
Max Drawdown Largest peak-to-trough decline	-70.04%	-91.12%	+21.08%
Max Drawdown (1Y) Largest decline over 1 year	-42.16%	-18.56%	-23.60%
Max Drawdown (3Y) Largest decline over 3 years	-42.16%	-41.27%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-42.16%	-48.61%	+6.45%
Max Drawdown (10Y) Largest decline over 10 years	-42.16%	-51.98%	+9.82%
Current Drawdown Current decline from peak	-39.18%	-11.00%	-28.18%
Average Drawdown Average peak-to-trough decline	-44.03%	-37.04%	-6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.77%	5.49%	+13.28%

Volatility

PHSP.L vs. VALE - Volatility Comparison

WisdomTree Physical Silver (PHSP.L) has a higher volatility of 14.36% compared to Vale S.A. (VALE) at 8.39%. This indicates that PHSP.L's price experiences larger fluctuations and is considered to be riskier than VALE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHSP.L	VALE	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.36%	8.39%	+5.97%
Volatility (6M) Calculated over the trailing 6-month period	51.78%	24.21%	+27.57%
Volatility (1Y) Calculated over the trailing 1-year period	54.77%	29.69%	+25.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.25%	33.63%	+2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.08%	39.77%	-8.69%

Dividends

PHSP.L vs. VALE - Dividend Comparison

PHSP.L has not paid dividends to shareholders, while VALE's dividend yield for the trailing twelve months is around 3.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHSP.L WisdomTree Physical Silver	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VALE Vale S.A.	3.66%	7.29%	11.41%	7.75%	8.63%	19.70%	2.72%	2.63%	4.16%	3.77%	1.06%	7.48%

Frequently Asked Questions

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

PHSP.L and VALE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.