XGLS.L vs. GBSS.L
XGLS.L (Xtrackers Physical Gold GBP Hedged ETC) and GBSS.L (Gold Bullion Securities) are both Precious Metals funds - XGLS.L tracks the Gold (GBP Hedged) while GBSS.L tracks the Gold. Both are passively managed. Over the past 10 years, XGLS.L returned 11.69%/yr vs 14.02%/yr for GBSS.L. A 0.76 correlation means they provide meaningful diversification when combined. XGLS.L charges 0.69%/yr vs 0.40%/yr for GBSS.L.
Performance
XGLS.L vs. GBSS.L - Performance Comparison
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Returns By Period
In the year-to-date period, XGLS.L achieves a 2.29% return, which is significantly lower than GBSS.L's 3.09% return. Over the past 10 years, XGLS.L has underperformed GBSS.L with an annualized return of 11.69%, while GBSS.L has yielded a comparatively higher 14.02% annualized return.
XGLS.L
- 1D
- -1.39%
- 1M
- -4.31%
- YTD
- 2.29%
- 6M
- 4.33%
- 1Y
- 30.74%
- 3Y*
- 29.56%
- 5Y*
- 16.90%
- 10Y*
- 11.69%
GBSS.L
- 1D
- -1.16%
- 1M
- -2.90%
- YTD
- 3.09%
- 6M
- 4.31%
- 1Y
- 32.90%
- 3Y*
- 27.55%
- 5Y*
- 19.36%
- 10Y*
- 14.02%
XGLS.L vs. GBSS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGLS.L Xtrackers Physical Gold GBP Hedged ETC | 2.29% | 63.07% | 24.85% | 11.63% | -1.63% | -4.91% | 22.11% | 15.69% | -3.62% | 9.65% |
GBSS.L Gold Bullion Securities | 3.09% | 53.13% | 27.82% | 6.96% | 11.51% | -3.12% | 19.73% | 14.42% | 4.17% | 1.53% |
Correlation
The correlation between XGLS.L and GBSS.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 5, 2011 | 0.76 |
The correlation between XGLS.L and GBSS.L shifts across timeframes, from 0.76 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGLS.L vs. GBSS.L — Risk / Return Rank
XGLS.L
GBSS.L
XGLS.L vs. GBSS.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 Gold Bullion Securities (GBSS.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 | GBSS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.83 | -0.15 |
| Martin ratioReturn relative to average drawdown | 4.44 | 4.96 | -0.52 |
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 | GBSS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 1.43 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 1.20 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.89 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.65 | -0.30 |
Drawdowns
XGLS.L vs. GBSS.L - Drawdown Comparison
The maximum XGLS.L drawdown since its inception was -46.55%, which is greater than GBSS.L's maximum drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for XGLS.L and GBSS.L.
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Drawdown Indicators
| XGLS.L | GBSS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.55% | -42.08% | -4.47% |
Max Drawdown (1Y)Largest decline over 1 year | -18.19% | -17.92% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -18.19% | -17.92% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -17.92% | -3.96% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -22.41% | -0.58% |
Current DrawdownCurrent decline from peak | -16.80% | -16.67% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -23.38% | -13.55% | -9.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.91% | 6.62% | +0.29% |
Volatility
XGLS.L vs. GBSS.L - Volatility Comparison
Xtrackers Physical Gold GBP Hedged ETC (XGLS.L) has a higher volatility of 6.43% compared to Gold Bullion Securities (GBSS.L) at 5.06%. This indicates that XGLS.L's price experiences larger fluctuations and is considered to be riskier than GBSS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGLS.L | GBSS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.43% | 5.06% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 21.82% | 19.83% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.79% | 22.97% | +1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.26% | 16.13% | +1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 15.77% | -0.25% |
XGLS.L vs. GBSS.L - Expense Ratio Comparison
XGLS.L has a 0.69% expense ratio, which is higher than GBSS.L's 0.40% expense ratio.
Dividends
XGLS.L vs. GBSS.L - Dividend Comparison
Neither XGLS.L nor GBSS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, XGLS.L and GBSS.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, GBSS.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBSS.L is cheaper with a 0.40% expense ratio, compared with 0.69% for XGLS.L.
XGLS.L tracks Gold (GBP Hedged), while GBSS.L tracks Gold. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.69% for XGLS.L and 0.40% for GBSS.L.
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