XGDG.L vs. GBSP.L
XGDG.L (Xtrackers IE Physical Gold GBP Hedged ETC Securities) and GBSP.L (WisdomTree Physical Gold - GBP Daily Hedged) are both Precious Metals funds tracking the Gold (GBP Hedged), from Xtrackers and WisdomTree respectively. Both are passively managed. Over the past 5 years, XGDG.L returned 17.04%/yr vs 17.19%/yr for GBSP.L. With a 0.99 correlation, they move nearly in lockstep. XGDG.L charges 0.28%/yr vs 0.25%/yr for GBSP.L.
Performance
XGDG.L vs. GBSP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XGDG.L having a 3.04% return and GBSP.L slightly higher at 3.18%.
XGDG.L
- 1D
- 0.66%
- 1M
- -2.45%
- YTD
- 3.04%
- 6M
- 5.30%
- 1Y
- 30.85%
- 3Y*
- 30.11%
- 5Y*
- 17.04%
- 10Y*
- —
GBSP.L
- 1D
- 0.76%
- 1M
- -2.40%
- YTD
- 3.18%
- 6M
- 5.51%
- 1Y
- 31.06%
- 3Y*
- 30.23%
- 5Y*
- 17.19%
- 10Y*
- 11.30%
XGDG.L vs. GBSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XGDG.L Xtrackers IE Physical Gold GBP Hedged ETC Securities | 3.04% | 63.15% | 25.16% | 11.50% | -1.40% | -5.50% | 6.91% |
GBSP.L WisdomTree Physical Gold - GBP Daily Hedged | 3.18% | 63.29% | 25.01% | 11.75% | -1.73% | -4.92% | 8.47% |
Correlation
The correlation between XGDG.L and GBSP.L is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since May 26, 2020 | 0.99 |
The correlation between XGDG.L and GBSP.L has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
XGDG.L vs. GBSP.L — Risk / Return Rank
XGDG.L
GBSP.L
XGDG.L vs. GBSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.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.
| XGDG.L | GBSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.76 | -0.11 |
| Martin ratioReturn relative to average drawdown | 4.40 | 4.51 | -0.11 |
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
| XGDG.L | GBSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.25 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.99 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.38 | +0.50 |
Drawdowns
XGDG.L vs. GBSP.L - Drawdown Comparison
The maximum XGDG.L drawdown since its inception was -23.31%, smaller than the maximum GBSP.L drawdown of -37.30%. Use the drawdown chart below to compare losses from any high point for XGDG.L and GBSP.L.
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Drawdown Indicators
| XGDG.L | GBSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -37.30% | +13.99% |
Max Drawdown (1Y)Largest decline over 1 year | -18.55% | -17.53% | -1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -18.55% | -17.53% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -22.05% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.99% | — |
Current DrawdownCurrent decline from peak | -16.27% | -15.96% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -8.24% | -17.52% | +9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.99% | 6.88% | +0.11% |
Volatility
XGDG.L vs. GBSP.L - Volatility Comparison
Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) and WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) have volatilities of 6.31% and 6.25%, 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
| XGDG.L | GBSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 6.25% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 22.33% | 21.79% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.24% | 24.78% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.42% | 17.29% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.30% | 15.56% | +1.74% |
XGDG.L vs. GBSP.L - Expense Ratio Comparison
XGDG.L has a 0.28% expense ratio, which is higher than GBSP.L's 0.25% expense ratio.
Dividends
XGDG.L vs. GBSP.L - Dividend Comparison
Neither XGDG.L nor GBSP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, XGDG.L and GBSP.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.
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 0.28% for XGDG.L.
Both ETFs track Gold (GBP Hedged). They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.28% for XGDG.L and 0.25% for GBSP.L.
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