SILV.L vs. GLDW.L
SILV.L (Global X Silver Miners UCITS ETF USD (Acc)) and GLDW.L (WisdomTree Core Physical Gold) are both exchange-traded funds - SILV.L is a Precious Metals fund tracking the Solactive Global Silver Miners Total Return v2 Index, while GLDW.L is a Gold fund tracking the Gold. Both are passively managed. Over the past 3 years, SILV.L returned 37.77%/yr vs 26.44%/yr for GLDW.L. A 0.65 correlation means they provide meaningful diversification when combined. SILV.L charges 0.65%/yr vs 0.12%/yr for GLDW.L.
Performance
SILV.L vs. GLDW.L - Performance Comparison
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Different Trading Currencies
SILV.L is traded in USD, while GLDW.L is traded in GBp. To make them comparable, the GLDW.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SILV.L achieves a -14.54% return, which is significantly lower than GLDW.L's -6.95% return.
SILV.L
- 1D
- -1.10%
- 1M
- -21.48%
- 6M
- -26.71%
- YTD
- -14.54%
- 1Y
- 52.36%
- 3Y*
- 37.77%
- 5Y*
- —
- 10Y*
- —
GLDW.L
- 1D
- -0.05%
- 1M
- -7.22%
- 6M
- -12.67%
- YTD
- -6.95%
- 1Y
- 20.01%
- 3Y*
- 26.44%
- 5Y*
- 17.13%
- 10Y*
- —
SILV.L vs. GLDW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SILV.L Global X Silver Miners UCITS ETF USD (Acc) | -14.54% | 172.49% | 11.77% | -0.99% | -4.08% |
GLDW.L WisdomTree Core Physical Gold | -6.95% | 65.15% | 26.05% | 12.92% | -3.32% |
Correlation
The correlation between SILV.L and GLDW.L is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 9, 2022 | 0.65 |
The correlation between SILV.L and GLDW.L shifts across timeframes, from 0.65 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SILV.L vs. GLDW.L — Risk / Return Rank
SILV.L
GLDW.L
SILV.L vs. GLDW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners UCITS ETF USD (Acc) (SILV.L) 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.
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.
| SILV.L | GLDW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.16 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 0.81 | +0.51 |
| Martin ratioReturn relative to average drawdown | 2.94 | 1.94 | +1.00 |
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Drawdowns
SILV.L vs. GLDW.L - Drawdown Comparison
The maximum SILV.L drawdown since its inception was -39.57%, which is greater than GLDW.L's maximum drawdown of -24.55%. Use the drawdown chart below to compare losses from any high point for SILV.L and GLDW.L.
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Drawdown Indicators
| SILV.L | GLDW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.57% | -24.55% | -15.02% |
Max Drawdown (1Y)Largest decline over 1 year | -39.57% | -24.55% | -15.02% |
Max Drawdown (3Y)Largest decline over 3 years | -39.57% | -24.55% | -15.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.55% | — |
Current DrawdownCurrent decline from peak | -39.57% | -24.47% | -15.10% |
Average DrawdownAverage peak-to-trough decline | -14.14% | -6.75% | -7.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.76% | 10.30% | +7.46% |
Volatility
SILV.L vs. GLDW.L - Volatility Comparison
Global X Silver Miners UCITS ETF USD (Acc) (SILV.L) has a higher volatility of 14.68% compared to WisdomTree Core Physical Gold (GLDW.L) at 6.79%. This indicates that SILV.L's price experiences larger fluctuations and is considered to be riskier than GLDW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SILV.L | GLDW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.68% | 6.79% | +7.89% |
Volatility (6M)Calculated over the trailing 6-month period | 45.64% | 21.92% | +23.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.89% | 25.49% | +30.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.19% | 22.76% | +21.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.19% | 2,980.76% | -2,936.57% |
SILV.L vs. GLDW.L - Expense Ratio Comparison
SILV.L has a 0.65% expense ratio, which is higher than GLDW.L's 0.12% expense ratio.
Dividends
SILV.L vs. GLDW.L - Dividend Comparison
Neither SILV.L nor GLDW.L has paid dividends to shareholders.
Frequently Asked Questions
SILV.L and GLDW.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDW.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDW.L is cheaper with a 0.12% expense ratio, compared with 0.65% for SILV.L.
SILV.L is categorized as Precious Metals, while GLDW.L is Gold. SILV.L tracks Solactive Global Silver Miners Total Return v2 Index, while GLDW.L tracks Gold. They also come from different issuers: Global X and WisdomTree. Their fees differ too: 0.65% for SILV.L and 0.12% for GLDW.L.
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