XGLD.L vs. PHGP.L
XGLD.L (Xtrackers Physical Gold ETC) and PHGP.L (WisdomTree Physical Gold) are both Precious Metals funds tracking the Gold, from Xtrackers and WisdomTree respectively. Both are passively managed. Over the past 10 years, XGLD.L returned 13.32%/yr vs 13.16%/yr for PHGP.L. Their correlation of 0.90 suggests significant overlap in exposure. XGLD.L charges 0.25%/yr vs 0.39%/yr for PHGP.L.
Performance
XGLD.L vs. PHGP.L - Performance Comparison
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Different Trading Currencies
XGLD.L is traded in USD, while PHGP.L is traded in GBp. To make them comparable, the PHGP.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 3.08% return, which is significantly higher than PHGP.L's 2.83% return. Both investments have delivered pretty close results over the past 10 years, with XGLD.L having a 13.32% annualized return and PHGP.L not far behind at 13.16%.
XGLD.L
- 1D
- -1.36%
- 1M
- -4.18%
- YTD
- 3.08%
- 6M
- 5.21%
- 1Y
- 32.33%
- 3Y*
- 30.96%
- 5Y*
- 18.31%
- 10Y*
- 13.32%
PHGP.L
- 1D
- -1.46%
- 1M
- -3.95%
- YTD
- 2.83%
- 6M
- 4.77%
- 1Y
- 31.94%
- 3Y*
- 30.80%
- 5Y*
- 18.12%
- 10Y*
- 13.16%
XGLD.L vs. PHGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGLD.L Xtrackers Physical Gold ETC | 3.08% | 64.60% | 25.87% | 13.37% | -0.24% | -4.19% | 24.11% | 18.35% | -1.36% | 11.68% |
PHGP.L WisdomTree Physical Gold | 2.83% | 64.70% | 25.72% | 12.61% | -0.40% | -3.99% | 23.41% | 19.06% | -1.72% | 11.22% |
Correlation
The correlation between XGLD.L and PHGP.L is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2010 | 0.90 |
The correlation between XGLD.L and PHGP.L has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.
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Return for Risk
XGLD.L vs. PHGP.L — Risk / Return Rank
XGLD.L
PHGP.L
XGLD.L vs. PHGP.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 (PHGP.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 | PHGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.82 | -0.04 |
| Martin ratioReturn relative to average drawdown | 4.75 | 4.70 | +0.04 |
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 | PHGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.32 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.06 | 1.04 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.83 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.51 | -0.03 |
Drawdowns
XGLD.L vs. PHGP.L - Drawdown Comparison
The maximum XGLD.L drawdown since its inception was -45.19%, roughly equal to the maximum PHGP.L drawdown of -45.59%. Use the drawdown chart below to compare losses from any high point for XGLD.L and PHGP.L.
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Drawdown Indicators
| XGLD.L | PHGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.19% | -45.59% | +0.40% |
Max Drawdown (1Y)Largest decline over 1 year | -18.08% | -17.45% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -18.08% | -17.45% | -0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -21.06% | -22.15% | +1.09% |
Max Drawdown (10Y)Largest decline over 10 years | -21.21% | -22.15% | +0.94% |
Current DrawdownCurrent decline from peak | -16.45% | -16.55% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -18.99% | -17.74% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.80% | 6.78% | +0.02% |
Volatility
XGLD.L vs. PHGP.L - Volatility Comparison
Xtrackers Physical Gold ETC (XGLD.L) has a higher volatility of 6.46% compared to WisdomTree Physical Gold (PHGP.L) at 5.67%. This indicates that XGLD.L's price experiences larger fluctuations and is considered to be riskier than PHGP.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 | PHGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 5.67% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 21.84% | 20.93% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.82% | 24.16% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.23% | 17.49% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 15.80% | -0.34% |
XGLD.L vs. PHGP.L - Expense Ratio Comparison
XGLD.L has a 0.25% expense ratio, which is lower than PHGP.L's 0.39% expense ratio.
Dividends
XGLD.L vs. PHGP.L - Dividend Comparison
Neither XGLD.L nor PHGP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, XGLD.L and PHGP.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, XGLD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGLD.L is cheaper with a 0.25% expense ratio, compared with 0.39% for PHGP.L.
Both ETFs track Gold. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.25% for XGLD.L and 0.39% for PHGP.L.
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