SSLV.L vs. BULP.L
SSLV.L (Invesco Physical Silver ETC) and BULP.L (WisdomTree Gold) are both exchange-traded funds - SSLV.L is a Silver fund tracking the LBMA Silver Price, while BULP.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 10 years, SSLV.L returned 15.85%/yr vs 11.19%/yr for BULP.L. A 0.64 correlation means they provide meaningful diversification when combined. SSLV.L charges 0.19%/yr vs 0.49%/yr for BULP.L.
Performance
SSLV.L vs. BULP.L - Performance Comparison
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Different Trading Currencies
SSLV.L is traded in USD, while BULP.L is traded in GBp. To make them comparable, the BULP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with SSLV.L having a 2.90% return and BULP.L slightly lower at 2.87%. Over the past 10 years, SSLV.L has outperformed BULP.L with an annualized return of 15.85%, while BULP.L has yielded a comparatively lower 11.19% annualized return.
SSLV.L
- 1D
- 0.44%
- 1M
- 0.09%
- YTD
- 2.90%
- 6M
- 29.12%
- 1Y
- 113.89%
- 3Y*
- 45.99%
- 5Y*
- 21.31%
- 10Y*
- 15.85%
BULP.L
- 1D
- 0.76%
- 1M
- -2.34%
- YTD
- 2.87%
- 6M
- 5.16%
- 1Y
- 29.82%
- 3Y*
- 29.03%
- 5Y*
- 16.38%
- 10Y*
- 11.19%
SSLV.L vs. BULP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLV.L Invesco Physical Silver ETC | 2.90% | 147.68% | 21.10% | -0.93% | 3.59% | -12.95% | 45.93% | 16.33% | -8.71% | 3.69% |
BULP.L WisdomTree Gold | 2.87% | 61.38% | 24.05% | 10.66% | -1.91% | -5.59% | 19.30% | 17.42% | -3.12% | 9.57% |
Correlation
The correlation between SSLV.L and BULP.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2011 | 0.64 |
The correlation between SSLV.L and BULP.L has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
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Return for Risk
SSLV.L vs. BULP.L — Risk / Return Rank
SSLV.L
BULP.L
SSLV.L vs. BULP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Silver ETC (SSLV.L) and WisdomTree Gold (BULP.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.
| SSLV.L | BULP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.23 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 1.67 | +1.12 |
| Martin ratioReturn relative to average drawdown | 6.08 | 4.29 | +1.79 |
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
| SSLV.L | BULP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 1.20 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.92 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.69 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.41 | -0.30 |
Drawdowns
SSLV.L vs. BULP.L - Drawdown Comparison
The maximum SSLV.L drawdown since its inception was -74.62%, which is greater than BULP.L's maximum drawdown of -47.92%. Use the drawdown chart below to compare losses from any high point for SSLV.L and BULP.L.
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Drawdown Indicators
| SSLV.L | BULP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -47.92% | -26.70% |
Max Drawdown (1Y)Largest decline over 1 year | -40.61% | -17.76% | -22.85% |
Max Drawdown (3Y)Largest decline over 3 years | -40.61% | -17.76% | -22.85% |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | -22.81% | -17.80% |
Max Drawdown (10Y)Largest decline over 10 years | -42.74% | -25.09% | -17.65% |
Current DrawdownCurrent decline from peak | -35.24% | -16.21% | -19.03% |
Average DrawdownAverage peak-to-trough decline | -52.25% | -22.09% | -30.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.65% | 6.93% | +11.72% |
Volatility
SSLV.L vs. BULP.L - Volatility Comparison
Invesco Physical Silver ETC (SSLV.L) has a higher volatility of 17.44% compared to WisdomTree Gold (BULP.L) at 5.77%. This indicates that SSLV.L's price experiences larger fluctuations and is considered to be riskier than BULP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSLV.L | BULP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.44% | 5.77% | +11.67% |
Volatility (6M)Calculated over the trailing 6-month period | 54.09% | 21.05% | +33.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 24.70% | +32.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.50% | 17.87% | +17.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.89% | 16.25% | +14.64% |
SSLV.L vs. BULP.L - Expense Ratio Comparison
SSLV.L has a 0.19% expense ratio, which is lower than BULP.L's 0.49% expense ratio.
Dividends
SSLV.L vs. BULP.L - Dividend Comparison
Neither SSLV.L nor BULP.L has paid dividends to shareholders.
Frequently Asked Questions
SSLV.L and BULP.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SSLV.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSLV.L is cheaper with a 0.19% expense ratio, compared with 0.49% for BULP.L.
SSLV.L is categorized as Silver, while BULP.L is Precious Metals. SSLV.L tracks LBMA Silver Price, while BULP.L tracks Gold. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.19% for SSLV.L and 0.49% for BULP.L.
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