SLVR.L vs. GBSP.L
SLVR.L (WisdomTree Silver) and GBSP.L (WisdomTree Physical Gold - GBP Daily Hedged) are both exchange-traded funds - SLVR.L is a Silver fund tracking the Bloomberg Silver Subindex, while GBSP.L is a Precious Metals fund tracking the Gold (GBP Hedged). Both are passively managed. Over the past 10 years, SLVR.L returned 13.50%/yr vs 10.49%/yr for GBSP.L. A 0.69 correlation means they provide meaningful diversification when combined. SLVR.L charges 0.49%/yr vs 0.25%/yr for GBSP.L.
Performance
SLVR.L vs. GBSP.L - Performance Comparison
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Different Trading Currencies
SLVR.L is traded in USD, while GBSP.L is traded in GBp. To make them comparable, the GBSP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SLVR.L achieves a 3.62% return, which is significantly higher than GBSP.L's 2.93% return. Over the past 10 years, SLVR.L has outperformed GBSP.L with an annualized return of 13.50%, while GBSP.L has yielded a comparatively lower 10.49% annualized return.
SLVR.L
- 1D
- 0.43%
- 1M
- -0.02%
- YTD
- 3.62%
- 6M
- 28.48%
- 1Y
- 109.37%
- 3Y*
- 43.40%
- 5Y*
- 19.20%
- 10Y*
- 13.50%
GBSP.L
- 1D
- 0.81%
- 1M
- -3.23%
- YTD
- 2.93%
- 6M
- 6.29%
- 1Y
- 29.81%
- 3Y*
- 33.59%
- 5Y*
- 15.95%
- 10Y*
- 10.49%
SLVR.L vs. GBSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLVR.L WisdomTree Silver | 3.62% | 136.72% | 20.15% | -2.57% | 2.25% | -14.66% | 40.61% | 13.97% | -10.13% | 1.46% |
GBSP.L WisdomTree Physical Gold - GBP Daily Hedged | 2.93% | 75.62% | 22.93% | 17.64% | -12.23% | -5.78% | 25.57% | 19.16% | -9.95% | 18.76% |
Correlation
The correlation between SLVR.L and GBSP.L is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.69 |
The correlation between SLVR.L and GBSP.L has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.
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Return for Risk
SLVR.L vs. GBSP.L — Risk / Return Rank
SLVR.L
GBSP.L
SLVR.L vs. GBSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Silver (SLVR.L) and WisdomTree Physical Gold - GBP Daily Hedged (GBSP.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.
| SLVR.L | GBSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.48 | +1.19 |
| Martin ratioReturn relative to average drawdown | 5.81 | 3.66 | +2.15 |
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
| SLVR.L | GBSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 1.10 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.74 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.53 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.25 | -0.03 |
Drawdowns
SLVR.L vs. GBSP.L - Drawdown Comparison
The maximum SLVR.L drawdown since its inception was -79.93%, which is greater than GBSP.L's maximum drawdown of -46.33%. Use the drawdown chart below to compare losses from any high point for SLVR.L and GBSP.L.
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Drawdown Indicators
| SLVR.L | GBSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.93% | -46.33% | -33.60% |
Max Drawdown (1Y)Largest decline over 1 year | -40.74% | -20.11% | -20.63% |
Max Drawdown (3Y)Largest decline over 3 years | -40.74% | -20.11% | -20.63% |
Max Drawdown (5Y)Largest decline over 5 years | -40.74% | -35.76% | -4.98% |
Max Drawdown (10Y)Largest decline over 10 years | -46.90% | -36.73% | -10.17% |
Current DrawdownCurrent decline from peak | -35.42% | -18.06% | -17.36% |
Average DrawdownAverage peak-to-trough decline | -49.43% | -22.94% | -26.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.74% | 8.12% | +10.62% |
Volatility
SLVR.L vs. GBSP.L - Volatility Comparison
WisdomTree Silver (SLVR.L) has a higher volatility of 17.68% compared to WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) at 7.12%. This indicates that SLVR.L's price experiences larger fluctuations and is considered to be riskier than GBSP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVR.L | GBSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.68% | 7.12% | +10.56% |
Volatility (6M)Calculated over the trailing 6-month period | 56.07% | 23.45% | +32.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.81% | 27.09% | +31.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.80% | 21.52% | +15.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.95% | 19.84% | +12.11% |
SLVR.L vs. GBSP.L - Expense Ratio Comparison
SLVR.L has a 0.49% expense ratio, which is higher than GBSP.L's 0.25% expense ratio.
Dividends
SLVR.L vs. GBSP.L - Dividend Comparison
Neither SLVR.L nor GBSP.L has paid dividends to shareholders.
Frequently Asked Questions
SLVR.L and GBSP.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBSP.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBSP.L is cheaper with a 0.25% expense ratio, compared with 0.49% for SLVR.L.
SLVR.L is categorized as Silver, while GBSP.L is Precious Metals. SLVR.L tracks Bloomberg Silver Subindex, while GBSP.L tracks Gold (GBP Hedged). Their fees differ too: 0.49% for SLVR.L and 0.25% for GBSP.L.
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