XGLD.L vs. GBSP.L
XGLD.L (Xtrackers Physical Gold ETC) and GBSP.L (WisdomTree Physical Gold - GBP Daily Hedged) are both Precious Metals funds - XGLD.L tracks the Gold while GBSP.L tracks the Gold (GBP Hedged). Both are passively managed. Over the past 10 years, XGLD.L returned 13.32%/yr vs 10.49%/yr for GBSP.L. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
XGLD.L vs. GBSP.L - Performance Comparison
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Different Trading Currencies
XGLD.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, XGLD.L achieves a 3.71% return, which is significantly higher than GBSP.L's 2.93% return. Over the past 10 years, XGLD.L has outperformed GBSP.L with an annualized return of 13.32%, while GBSP.L has yielded a comparatively lower 10.49% annualized return.
XGLD.L
- 1D
- 0.61%
- 1M
- -2.35%
- YTD
- 3.71%
- 6M
- 5.92%
- 1Y
- 32.17%
- 3Y*
- 31.36%
- 5Y*
- 18.45%
- 10Y*
- 13.32%
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%
XGLD.L vs. GBSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGLD.L Xtrackers Physical Gold ETC | 3.71% | 64.60% | 25.87% | 13.37% | -0.24% | -4.19% | 24.11% | 18.35% | -1.36% | 11.68% |
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 XGLD.L and GBSP.L is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.85 |
The correlation between XGLD.L and GBSP.L shifts across timeframes, from 0.85 (all time) to 0.96 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGLD.L vs. GBSP.L — Risk / Return Rank
XGLD.L
GBSP.L
XGLD.L vs. GBSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Physical Gold ETC (XGLD.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.
| XGLD.L | GBSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.21 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 1.48 | +0.30 |
| Martin ratioReturn relative to average drawdown | 4.67 | 3.66 | +1.01 |
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
| XGLD.L | GBSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 1.10 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.07 | 0.74 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.53 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.25 | +0.23 |
Drawdowns
XGLD.L vs. GBSP.L - Drawdown Comparison
The maximum XGLD.L drawdown since its inception was -45.19%, roughly equal to the maximum GBSP.L drawdown of -46.33%. Use the drawdown chart below to compare losses from any high point for XGLD.L and GBSP.L.
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Drawdown Indicators
| XGLD.L | GBSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.19% | -46.33% | +1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -18.08% | -20.11% | +2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.08% | -20.11% | +2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -21.06% | -35.76% | +14.70% |
Max Drawdown (10Y)Largest decline over 10 years | -21.21% | -36.73% | +15.52% |
Current DrawdownCurrent decline from peak | -15.94% | -18.06% | +2.12% |
Average DrawdownAverage peak-to-trough decline | -18.99% | -22.94% | +3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.87% | 8.12% | -1.25% |
Volatility
XGLD.L vs. GBSP.L - Volatility Comparison
The current volatility for Xtrackers Physical Gold ETC (XGLD.L) is 6.40%, while WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) has a volatility of 7.12%. This indicates that XGLD.L experiences smaller price fluctuations and is considered to be less risky 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
| XGLD.L | GBSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.40% | 7.12% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 21.84% | 23.45% | -1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.81% | 27.09% | -2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 21.52% | -4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 19.84% | -4.38% |
XGLD.L vs. GBSP.L - Expense Ratio Comparison
Both XGLD.L and GBSP.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XGLD.L vs. GBSP.L - Dividend Comparison
Neither XGLD.L nor GBSP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, XGLD.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.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XGLD.L and GBSP.L have the same expense ratio: 0.25% per year.
XGLD.L tracks Gold, while GBSP.L tracks Gold (GBP Hedged). They also come from different issuers: Xtrackers and WisdomTree.
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