PPFB.DE vs. GLDW.L
PPFB.DE (iShares Physical Gold ETC) and GLDW.L (WisdomTree Core Physical Gold) are both Precious Metals funds tracking the Gold, from iShares and WisdomTree respectively. Both are passively managed. Over the past 3 years, PPFB.DE returned 28.05%/yr vs 27.96%/yr for GLDW.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
PPFB.DE vs. GLDW.L - Performance Comparison
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Different Trading Currencies
PPFB.DE is traded in EUR, while GLDW.L is traded in GBp. To make them comparable, the GLDW.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, PPFB.DE achieves a 2.74% return, which is significantly lower than GLDW.L's 4.89% return.
PPFB.DE
- 1D
- 0.61%
- 1M
- -3.62%
- YTD
- 2.74%
- 6M
- 6.18%
- 1Y
- 31.16%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
GLDW.L
- 1D
- 0.54%
- 1M
- -1.53%
- YTD
- 4.89%
- 6M
- 6.44%
- 1Y
- 30.18%
- 3Y*
- 27.96%
- 5Y*
- 19.72%
- 10Y*
- —
PPFB.DE vs. GLDW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PPFB.DE iShares Physical Gold ETC | 2.74% | 49.11% | 34.17% | 9.42% | 7.03% | 3.62% |
GLDW.L WisdomTree Core Physical Gold | 4.89% | 45.55% | 34.37% | 9.54% | 6.06% | 4.83% |
Correlation
The correlation between PPFB.DE and GLDW.L is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.93 |
The correlation between PPFB.DE and GLDW.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
PPFB.DE vs. GLDW.L — Risk / Return Rank
PPFB.DE
GLDW.L
PPFB.DE vs. GLDW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) and WisdomTree Core Physical Gold (GLDW.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.
| PPFB.DE | GLDW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.75 | +0.06 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.55 | +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
| PPFB.DE | GLDW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.31 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.21 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 1.28 | -0.02 |
Drawdowns
PPFB.DE vs. GLDW.L - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -16.60%, roughly equal to the maximum GLDW.L drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and GLDW.L.
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Drawdown Indicators
| PPFB.DE | GLDW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.60% | -17.20% | +0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -16.60% | -17.20% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -17.20% | +0.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.20% | — |
Current DrawdownCurrent decline from peak | -15.00% | -15.27% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -4.13% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 6.62% | -0.07% |
Volatility
PPFB.DE vs. GLDW.L - Volatility Comparison
iShares Physical Gold ETC (PPFB.DE) and WisdomTree Core Physical Gold (GLDW.L) have volatilities of 5.11% and 5.05%, 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
| PPFB.DE | GLDW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.05% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 19.96% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.12% | 22.98% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 16.23% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 16.05% | +0.08% |
PPFB.DE vs. GLDW.L - Expense Ratio Comparison
Both PPFB.DE and GLDW.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
PPFB.DE vs. GLDW.L - Dividend Comparison
Neither PPFB.DE nor GLDW.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, PPFB.DE and GLDW.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.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
PPFB.DE and GLDW.L have the same expense ratio: 0.12% per year.
Both ETFs track Gold. They also come from different issuers: iShares and WisdomTree.
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