WGLD.DE vs. DGZ
WGLD.DE (WisdomTree Core Physical Gold) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - WGLD.DE is a Gold fund tracking the Gold, while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Both are passively managed. Over the past 5 years, WGLD.DE returned 19.71%/yr vs -8.58%/yr for DGZ. At a correlation of -0.37, they often move in opposite directions. WGLD.DE charges 0.12%/yr vs 0.75%/yr for DGZ.
Performance
WGLD.DE vs. DGZ - Performance Comparison
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Different Trading Currencies
WGLD.DE is traded in EUR, while DGZ is traded in USD. To make them comparable, the DGZ values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, WGLD.DE achieves a 2.75% return, which is significantly lower than DGZ's 16.10% return.
WGLD.DE
- 1D
- 0.59%
- 1M
- -0.75%
- YTD
- 2.75%
- 6M
- 1.52%
- 1Y
- 34.44%
- 3Y*
- 28.03%
- 5Y*
- 19.71%
- 10Y*
- —
DGZ
- 1D
- 2.86%
- 1M
- 22.96%
- YTD
- 16.10%
- 6M
- 23.43%
- 1Y
- -5.03%
- 3Y*
- -15.64%
- 5Y*
- -8.58%
- 10Y*
- -7.46%
WGLD.DE vs. DGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WGLD.DE WisdomTree Core Physical Gold | 2.75% | 49.08% | 34.17% | 9.39% | 7.07% | 9.60% |
DGZ DB Gold Short Exchange Traded Notes | 16.10% | -40.56% | -10.94% | -7.60% | 11.44% | -3.21% |
Correlation
The correlation between WGLD.DE and DGZ is -0.41, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2021 | -0.37 |
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Return for Risk
WGLD.DE vs. DGZ — Risk / Return Rank
WGLD.DE
DGZ
WGLD.DE vs. DGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Core Physical Gold (WGLD.DE) and DB Gold Short Exchange Traded Notes (DGZ). 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.
| WGLD.DE | DGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.06 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | -0.13 | +1.95 |
| Martin ratioReturn relative to average drawdown | 4.60 | -0.23 | +4.83 |
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Drawdowns
WGLD.DE vs. DGZ - Drawdown Comparison
The maximum WGLD.DE drawdown since its inception was -16.58%, smaller than the maximum DGZ drawdown of -85.27%. Use the drawdown chart below to compare losses from any high point for WGLD.DE and DGZ.
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Drawdown Indicators
| WGLD.DE | DGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.58% | -85.27% | +68.69% |
Max Drawdown (1Y)Largest decline over 1 year | -16.58% | -37.44% | +20.86% |
Max Drawdown (3Y)Largest decline over 3 years | -16.58% | -63.26% | +46.68% |
Max Drawdown (5Y)Largest decline over 5 years | -16.58% | -67.72% | +51.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.44% | — |
Current DrawdownCurrent decline from peak | -14.99% | -78.82% | +63.83% |
Average DrawdownAverage peak-to-trough decline | -4.27% | -56.38% | +52.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 21.65% | -15.11% |
Volatility
WGLD.DE vs. DGZ - Volatility Comparison
The current volatility for WisdomTree Core Physical Gold (WGLD.DE) is 5.05%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 44.93%. This indicates that WGLD.DE experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WGLD.DE | DGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.05% | 44.93% | -39.88% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 59.01% | -38.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.13% | 70.50% | -47.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 38.48% | -22.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.87% | 30.48% | -14.61% |
WGLD.DE vs. DGZ - Expense Ratio Comparison
WGLD.DE has a 0.12% expense ratio, which is lower than DGZ's 0.75% expense ratio.
Dividends
WGLD.DE vs. DGZ - Dividend Comparison
Neither WGLD.DE nor DGZ has paid dividends to shareholders.
Frequently Asked Questions
WGLD.DE and DGZ have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WGLD.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WGLD.DE is cheaper with a 0.12% expense ratio, compared with 0.75% for DGZ.
WGLD.DE is categorized as Gold, while DGZ is Inverse Commodities. WGLD.DE tracks Gold, while DGZ tracks Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). They also come from different issuers: WisdomTree and Deutsche Bank. Their fees differ too: 0.12% for WGLD.DE and 0.75% for DGZ.
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