ZGLD.SW vs. PHYS
ZGLD.SW (Swisscanto (CH) Gold ETF EA CHF) is Precious Metals fund tracking the Gold Bullion, while PHYS (Sprott Physical Gold Trust) is a stock. Over the past 10 years, ZGLD.SW returned 9.15%/yr vs 8.58%/yr for PHYS. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
ZGLD.SW vs. PHYS - Performance Comparison
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Different Trading Currencies
ZGLD.SW is traded in CHF, while PHYS is traded in USD. To make them comparable, the PHYS values have been converted to CHF using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZGLD.SW achieves a -5.92% return, which is significantly higher than PHYS's -6.28% return. Over the past 10 years, ZGLD.SW has outperformed PHYS with an annualized return of 9.15%, while PHYS has yielded a comparatively lower 8.58% annualized return.
ZGLD.SW
- 1D
- 0.00%
- 1M
- -8.26%
- YTD
- -5.92%
- 6M
- -7.87%
- 1Y
- 20.65%
- 3Y*
- 23.09%
- 5Y*
- 14.20%
- 10Y*
- 9.15%
PHYS
- 1D
- 0.84%
- 1M
- -8.43%
- YTD
- -6.28%
- 6M
- -9.14%
- 1Y
- 19.73%
- 3Y*
- 22.66%
- 5Y*
- 13.65%
- 10Y*
- 8.58%
ZGLD.SW vs. PHYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZGLD.SW Swisscanto (CH) Gold ETF EA CHF | -5.92% | 45.59% | 35.04% | 3.06% | 0.89% | -1.00% | 12.95% | 16.46% | -1.49% | 7.06% |
PHYS Sprott Physical Gold Trust | -6.28% | 43.26% | 36.39% | 2.86% | -0.47% | -2.03% | 13.44% | 16.13% | -1.70% | 7.99% |
Correlation
The correlation between ZGLD.SW and PHYS is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2010 | 0.71 |
The correlation between ZGLD.SW and PHYS has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
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Return for Risk
ZGLD.SW vs. PHYS — Risk / Return Rank
ZGLD.SW
PHYS
ZGLD.SW vs. PHYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) and Sprott Physical Gold Trust (PHYS). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZGLD.SW | PHYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.16 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 0.85 | +0.10 |
| Martin ratioReturn relative to average drawdown | 2.65 | 2.33 | +0.32 |
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Drawdowns
ZGLD.SW vs. PHYS - Drawdown Comparison
The maximum ZGLD.SW drawdown since its inception was -38.49%, smaller than the maximum PHYS drawdown of -40.67%. Use the drawdown chart below to compare losses from any high point for ZGLD.SW and PHYS.
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Drawdown Indicators
| ZGLD.SW | PHYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.49% | -40.67% | +2.18% |
Max Drawdown (1Y)Largest decline over 1 year | -21.83% | -23.20% | +1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -21.83% | -23.20% | +1.37% |
Max Drawdown (5Y)Largest decline over 5 years | -21.83% | -23.20% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -21.83% | -23.20% | +1.37% |
Current DrawdownCurrent decline from peak | -21.83% | -22.55% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -14.84% | -17.90% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.92% | 8.49% | -0.57% |
Volatility
ZGLD.SW vs. PHYS - Volatility Comparison
Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) and Sprott Physical Gold Trust (PHYS) have volatilities of 7.59% and 7.38%, 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
| ZGLD.SW | PHYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.59% | 7.38% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 20.94% | 23.06% | -2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.76% | 26.43% | -2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.92% | 17.01% | -1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.10% | 14.86% | -0.76% |
Dividends
ZGLD.SW vs. PHYS - Dividend Comparison
Neither ZGLD.SW nor PHYS has paid dividends to shareholders.
Frequently Asked Questions
ZGLD.SW and PHYS have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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