XSLE.DE vs. PHSP.L
XSLE.DE (Xtrackers IE Physical Silver (EUR Hedged) ETC Securities) and PHSP.L (WisdomTree Physical Silver) are both Silver funds - XSLE.DE tracks the LBMA Silver Price (EUR Hedged) while PHSP.L tracks the LBMA Silver Price. Both are passively managed. Over the past 5 years, XSLE.DE returned 16.90%/yr vs 22.07%/yr for PHSP.L. Their correlation of 0.92 suggests significant overlap in exposure. XSLE.DE charges 0.73%/yr vs 0.49%/yr for PHSP.L.
Performance
XSLE.DE vs. PHSP.L - Performance Comparison
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Different Trading Currencies
XSLE.DE is traded in EUR, while PHSP.L is traded in GBp. To make them comparable, the PHSP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, XSLE.DE achieves a -5.59% return, which is significantly lower than PHSP.L's 3.89% return.
XSLE.DE
- 1D
- 0.53%
- 1M
- -0.03%
- YTD
- -5.59%
- 6M
- 25.87%
- 1Y
- 104.34%
- 3Y*
- 40.82%
- 5Y*
- 16.90%
- 10Y*
- —
PHSP.L
- 1D
- 0.37%
- 1M
- 0.83%
- YTD
- 3.89%
- 6M
- 29.48%
- 1Y
- 109.62%
- 3Y*
- 41.57%
- 5Y*
- 22.07%
- 10Y*
- 15.36%
XSLE.DE vs. PHSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | -5.59% | 149.28% | 20.14% | -4.86% | 0.29% | -15.30% | 51.17% |
PHSP.L WisdomTree Physical Silver | 3.89% | 117.70% | 28.78% | -4.53% | 9.55% | -6.39% | 38.64% |
Correlation
The correlation between XSLE.DE and PHSP.L is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 19, 2020 | 0.92 |
The correlation between XSLE.DE and PHSP.L has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
XSLE.DE vs. PHSP.L — Risk / Return Rank
XSLE.DE
PHSP.L
XSLE.DE vs. PHSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) and WisdomTree Physical Silver (PHSP.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.
| XSLE.DE | PHSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 2.81 | -0.31 |
| Martin ratioReturn relative to average drawdown | 5.40 | 6.12 | -0.72 |
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
| XSLE.DE | PHSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 2.02 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.66 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.33 | +0.31 |
Drawdowns
XSLE.DE vs. PHSP.L - Drawdown Comparison
The maximum XSLE.DE drawdown since its inception was -42.43%, smaller than the maximum PHSP.L drawdown of -68.72%. Use the drawdown chart below to compare losses from any high point for XSLE.DE and PHSP.L.
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Drawdown Indicators
| XSLE.DE | PHSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.43% | -68.72% | +26.29% |
Max Drawdown (1Y)Largest decline over 1 year | -41.35% | -38.73% | -2.62% |
Max Drawdown (3Y)Largest decline over 3 years | -41.35% | -38.73% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -41.35% | -38.73% | -2.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.19% | — |
Current DrawdownCurrent decline from peak | -36.50% | -33.67% | -2.83% |
Average DrawdownAverage peak-to-trough decline | -18.29% | -38.37% | +20.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.25% | 17.86% | +1.39% |
Volatility
XSLE.DE vs. PHSP.L - Volatility Comparison
Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) and WisdomTree Physical Silver (PHSP.L) have volatilities of 17.13% and 16.48%, 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
| XSLE.DE | PHSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.13% | 16.48% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 53.94% | 51.35% | +2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.40% | 54.09% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.13% | 33.40% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.05% | 29.12% | +5.93% |
XSLE.DE vs. PHSP.L - Expense Ratio Comparison
XSLE.DE has a 0.73% expense ratio, which is higher than PHSP.L's 0.49% expense ratio.
Dividends
XSLE.DE vs. PHSP.L - Dividend Comparison
Neither XSLE.DE nor PHSP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, XSLE.DE and PHSP.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, PHSP.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PHSP.L is cheaper with a 0.49% expense ratio, compared with 0.73% for XSLE.DE.
XSLE.DE tracks LBMA Silver Price (EUR Hedged), while PHSP.L tracks LBMA Silver Price. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.73% for XSLE.DE and 0.49% for PHSP.L.
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