ZGLD.SW vs. WGLD.DE
ZGLD.SW (Swisscanto (CH) Gold ETF EA CHF) and WGLD.DE (WisdomTree Core Physical Gold) are both Precious Metals funds - ZGLD.SW tracks the Gold Bullion while WGLD.DE tracks the Gold. Both are passively managed. Over the past 5 years, ZGLD.SW returned 15.11%/yr vs 15.55%/yr for WGLD.DE. Their correlation of 0.93 suggests significant overlap in exposure. ZGLD.SW charges 0.40%/yr vs 0.12%/yr for WGLD.DE.
Performance
ZGLD.SW vs. WGLD.DE - Performance Comparison
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Different Trading Currencies
ZGLD.SW is traded in CHF, while WGLD.DE is traded in EUR. To make them comparable, the WGLD.DE 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 1.96% return, which is significantly higher than WGLD.DE's 1.26% return.
ZGLD.SW
- 1D
- 0.35%
- 1M
- -1.63%
- YTD
- 1.96%
- 6M
- 3.89%
- 1Y
- 26.90%
- 3Y*
- 25.12%
- 5Y*
- 15.11%
- 10Y*
- 10.78%
WGLD.DE
- 1D
- 0.33%
- 1M
- -1.48%
- YTD
- 1.26%
- 6M
- 4.25%
- 1Y
- 27.70%
- 3Y*
- 25.60%
- 5Y*
- 15.55%
- 10Y*
- —
ZGLD.SW vs. WGLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZGLD.SW Swisscanto (CH) Gold ETF EA CHF | 1.96% | 45.59% | 35.04% | 3.06% | 0.89% | 2.94% |
WGLD.DE WisdomTree Core Physical Gold | 1.26% | 47.44% | 35.84% | 2.75% | 2.37% | 2.54% |
Correlation
The correlation between ZGLD.SW and WGLD.DE 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 | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2021 | 0.93 |
The correlation between ZGLD.SW and WGLD.DE has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
ZGLD.SW vs. WGLD.DE — Risk / Return Rank
ZGLD.SW
WGLD.DE
ZGLD.SW vs. WGLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) and WisdomTree Core Physical Gold (WGLD.DE). 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.
| ZGLD.SW | WGLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.69 | -0.07 |
| Martin ratioReturn relative to average drawdown | 4.18 | 4.40 | -0.22 |
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
| ZGLD.SW | WGLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 1.22 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 0.97 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 1.01 | -0.54 |
Drawdowns
ZGLD.SW vs. WGLD.DE - Drawdown Comparison
The maximum ZGLD.SW drawdown since its inception was -38.49%, which is greater than WGLD.DE's maximum drawdown of -16.54%. Use the drawdown chart below to compare losses from any high point for ZGLD.SW and WGLD.DE.
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Drawdown Indicators
| ZGLD.SW | WGLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.49% | -16.54% | -21.95% |
Max Drawdown (1Y)Largest decline over 1 year | -16.91% | -16.34% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -16.34% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -16.94% | -16.54% | -0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -16.94% | — | — |
Current DrawdownCurrent decline from peak | -15.28% | -14.43% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -14.22% | -5.67% | -8.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.49% | 6.27% | +0.22% |
Volatility
ZGLD.SW vs. WGLD.DE - Volatility Comparison
Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) has a higher volatility of 5.34% compared to WisdomTree Core Physical Gold (WGLD.DE) at 4.53%. This indicates that ZGLD.SW's price experiences larger fluctuations and is considered to be riskier than WGLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZGLD.SW | WGLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 4.53% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 19.84% | 19.50% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.01% | 22.64% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.67% | 15.92% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.10% | 15.78% | -1.68% |
ZGLD.SW vs. WGLD.DE - Expense Ratio Comparison
ZGLD.SW has a 0.40% expense ratio, which is higher than WGLD.DE's 0.12% expense ratio.
Dividends
ZGLD.SW vs. WGLD.DE - Dividend Comparison
Neither ZGLD.SW nor WGLD.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, ZGLD.SW and WGLD.DE 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, WGLD.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WGLD.DE is cheaper with a 0.12% expense ratio, compared with 0.40% for ZGLD.SW.
ZGLD.SW tracks Gold Bullion, while WGLD.DE tracks Gold. They also come from different issuers: Swisscanto and WisdomTree. Their fees differ too: 0.40% for ZGLD.SW and 0.12% for WGLD.DE.
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