XGDG.L vs. GLDW.L

Last updated Jun 4, 2026

XGDG.L (Xtrackers IE Physical Gold GBP Hedged ETC Securities) and GLDW.L (WisdomTree Core Physical Gold) are both Precious Metals funds - XGDG.L tracks the Gold (GBP Hedged) while GLDW.L tracks the Gold. Both are passively managed. Over the past 5 years, XGDG.L returned 16.88%/yr vs 19.72%/yr for GLDW.L. Their correlation of 0.80 suggests significant overlap in exposure. XGDG.L charges 0.28%/yr vs 0.12%/yr for GLDW.L.

Performance

XGDG.L vs. GLDW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) and WisdomTree Core Physical Gold (GLDW.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XGDG.L achieves a 2.36% return, which is significantly lower than GLDW.L's 3.31% return.

XGDG.L

• 1D: -1.44%
• 1M: -4.35%
• YTD: 2.36%
• 6M: 4.37%
• 1Y: 30.94%
• 3Y*: 29.69%
• 5Y*: 16.88%
• 10Y*: —

GLDW.L

• 1D: -1.07%
• 1M: -2.78%
• YTD: 3.31%
• 6M: 4.57%
• 1Y: 33.37%
• 3Y*: 27.95%
• 5Y*: 19.72%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XGDG.L vs. GLDW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XGDG.L Xtrackers IE Physical Gold GBP Hedged ETC Securities	2.36%	63.15%	25.16%	11.50%	-1.40%	3.87%
GLDW.L WisdomTree Core Physical Gold	3.31%	53.57%	28.18%	7.26%	11.82%	9.07%

Correlation

The correlation between XGDG.L and GLDW.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Mar 16, 2021	0.80

The correlation between XGDG.L and GLDW.L shifts across timeframes, from 0.80 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XGDG.L vs. GLDW.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XGDG.L

XGDG.L Risk / Return Rank: 33
XGDG.L Sharpe Ratio Rank: 34
XGDG.L Sortino Ratio Rank: 30
XGDG.L Omega Ratio Rank: 36
XGDG.L Calmar Ratio Rank: 34
XGDG.L Martin Ratio Rank: 31

GLDW.L

GLDW.L Risk / Return Rank: 38
GLDW.L Sharpe Ratio Rank: 40
GLDW.L Sortino Ratio Rank: 35
GLDW.L Omega Ratio Rank: 44
GLDW.L Calmar Ratio Rank: 37
GLDW.L Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XGDG.L vs. GLDW.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 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.

	XGDG.L	GLDW.L	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.45	-0.23
Sortino ratio: Return per unit of downside risk	1.63	1.88	-0.25
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.66	1.86	-0.20
Martin ratio: Return relative to average drawdown	4.46	5.06	-0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGDG.L vs. GLDW.L - Sharpe Ratio Comparison

The current XGDG.L Sharpe Ratio is 1.22, which is comparable to the GLDW.L Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of XGDG.L and GLDW.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XGDG.L	GLDW.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.45	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	1.23	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.29	-0.43

Drawdowns

XGDG.L vs. GLDW.L - Drawdown Comparison

The maximum XGDG.L drawdown since its inception was -23.31%, which is greater than GLDW.L's maximum drawdown of -17.86%. Use the drawdown chart below to compare losses from any high point for XGDG.L and GLDW.L.

Drawdown Indicators

	XGDG.L	GLDW.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.31%	-17.86%	-5.45%
Max Drawdown (1Y) Largest decline over 1 year	-18.55%	-17.86%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-18.55%	-17.86%	-0.69%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-17.86%	-4.04%
Current Drawdown Current decline from peak	-16.82%	-16.46%	-0.36%
Average Drawdown Average peak-to-trough decline	-8.23%	-3.57%	-4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.92%	6.57%	+0.35%

Volatility

XGDG.L vs. GLDW.L - Volatility Comparison

Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) has a higher volatility of 6.36% compared to WisdomTree Core Physical Gold (GLDW.L) at 5.10%. This indicates that XGDG.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.

Volatility by Period

	XGDG.L	GLDW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.36%	5.10%	+1.26%
Volatility (6M) Calculated over the trailing 6-month period	22.32%	19.81%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	25.25%	22.96%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.43%	16.09%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	15.95%	+1.35%

XGDG.L vs. GLDW.L - Expense Ratio Comparison

XGDG.L has a 0.28% expense ratio, which is higher than GLDW.L's 0.12% expense ratio.

Dividends

XGDG.L vs. GLDW.L - Dividend Comparison

Neither XGDG.L nor GLDW.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XGDG.L and GLDW.L in my portfolio?

With a correlation of 0.94, XGDG.L and GLDW.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.

Which ETF is better, XGDG.L or GLDW.L?

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.

Which ETF is cheaper, XGDG.L or GLDW.L?

GLDW.L is cheaper with a 0.12% expense ratio, compared with 0.28% for XGDG.L.

What is the main difference between XGDG.L and GLDW.L?

XGDG.L tracks Gold (GBP Hedged), while GLDW.L tracks Gold. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.28% for XGDG.L and 0.12% for GLDW.L.