XGLS.L vs. GBSP.L
XGLS.L (Xtrackers Physical Gold GBP Hedged ETC) 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 10 years, XGLS.L returned 11.70%/yr vs 11.30%/yr for GBSP.L. With a 0.97 correlation, they move nearly in lockstep. XGLS.L charges 0.69%/yr vs 0.25%/yr for GBSP.L.
Performance
XGLS.L vs. GBSP.L - Performance Comparison
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Returns By Period
In the year-to-date period, XGLS.L achieves a 2.92% return, which is significantly lower than GBSP.L's 3.18% return. Both investments have delivered pretty close results over the past 10 years, with XGLS.L having a 11.70% annualized return and GBSP.L not far behind at 11.30%.
XGLS.L
- 1D
- 0.61%
- 1M
- -2.45%
- YTD
- 2.92%
- 6M
- 5.12%
- 1Y
- 30.57%
- 3Y*
- 29.95%
- 5Y*
- 17.04%
- 10Y*
- 11.70%
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%
XGLS.L vs. GBSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGLS.L Xtrackers Physical Gold GBP Hedged ETC | 2.92% | 63.07% | 24.85% | 11.63% | -1.63% | -4.91% | 22.11% | 15.69% | -3.62% | 9.65% |
GBSP.L WisdomTree Physical Gold - GBP Daily Hedged | 3.18% | 63.29% | 25.01% | 11.75% | -1.73% | -4.92% | 21.84% | 14.56% | -4.55% | 8.43% |
Correlation
The correlation between XGLS.L and GBSP.L is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.97 |
The correlation between XGLS.L and GBSP.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
XGLS.L vs. GBSP.L — Risk / Return Rank
XGLS.L
GBSP.L
XGLS.L vs. GBSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Physical Gold GBP Hedged ETC (XGLS.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.
| XGLS.L | GBSP.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 | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.76 | -0.09 |
| Martin ratioReturn relative to average drawdown | 4.36 | 4.51 | -0.14 |
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
| XGLS.L | GBSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.25 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.99 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.72 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.38 | -0.02 |
Drawdowns
XGLS.L vs. GBSP.L - Drawdown Comparison
The maximum XGLS.L drawdown since its inception was -46.55%, which is greater than GBSP.L's maximum drawdown of -37.30%. Use the drawdown chart below to compare losses from any high point for XGLS.L and GBSP.L.
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Drawdown Indicators
| XGLS.L | GBSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.55% | -37.30% | -9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -18.19% | -17.53% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -18.19% | -17.53% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -22.05% | +0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -22.99% | 0.00% |
Current DrawdownCurrent decline from peak | -16.29% | -15.96% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -23.37% | -17.52% | -5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.99% | 6.88% | +0.11% |
Volatility
XGLS.L vs. GBSP.L - Volatility Comparison
Xtrackers Physical Gold GBP Hedged ETC (XGLS.L) and WisdomTree Physical Gold - GBP Daily Hedged (GBSP.L) have volatilities of 6.37% 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
| XGLS.L | GBSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 6.25% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 21.81% | 21.79% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 24.78% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.25% | 17.29% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 15.56% | -0.04% |
XGLS.L vs. GBSP.L - Expense Ratio Comparison
XGLS.L has a 0.69% expense ratio, which is higher than GBSP.L's 0.25% expense ratio.
Dividends
XGLS.L vs. GBSP.L - Dividend Comparison
Neither XGLS.L nor GBSP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, XGLS.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 0.69% for XGLS.L.
Both ETFs track Gold (GBP Hedged). They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.69% for XGLS.L and 0.25% for GBSP.L.
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