ZINC.L vs. GLD
ZINC.L (WisdomTree Zinc) and GLD (SPDR Gold Shares) are both exchange-traded funds - ZINC.L is a Metals fund tracking the Bloomberg Zinc, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, ZINC.L returned 7.37%/yr vs 13.21%/yr for GLD. At a 0.16 correlation, their price movements are largely independent. ZINC.L charges 0.49%/yr vs 0.40%/yr for GLD.
Performance
ZINC.L vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, ZINC.L achieves a 15.82% return, which is significantly higher than GLD's 3.77% return. Over the past 10 years, ZINC.L has underperformed GLD with an annualized return of 7.37%, while GLD has yielded a comparatively higher 13.21% annualized return.
ZINC.L
- 1D
- -0.57%
- 1M
- 6.40%
- YTD
- 15.82%
- 6M
- 17.29%
- 1Y
- 38.82%
- 3Y*
- 17.84%
- 5Y*
- 5.86%
- 10Y*
- 7.37%
GLD
- 1D
- 0.83%
- 1M
- -1.67%
- YTD
- 3.77%
- 6M
- 6.24%
- 1Y
- 32.28%
- 3Y*
- 31.19%
- 5Y*
- 18.35%
- 10Y*
- 13.21%
ZINC.L vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZINC.L WisdomTree Zinc | 15.82% | 6.70% | 13.11% | -9.01% | -11.08% | 26.65% | 15.73% | -0.07% | -22.41% | 27.77% |
GLD SPDR Gold Shares | 3.77% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between ZINC.L and GLD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2006 | 0.16 |
The correlation between ZINC.L and GLD shifts across timeframes, from 0.15 (10 years) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZINC.L vs. GLD — Risk / Return Rank
ZINC.L
GLD
ZINC.L vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Zinc (ZINC.L) and SPDR Gold Shares (GLD). 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.
| ZINC.L | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.24 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 1.69 | +1.91 |
| Martin ratioReturn relative to average drawdown | 13.28 | 4.15 | +9.13 |
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
| ZINC.L | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 1.22 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 1.02 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.83 | -0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.60 | -0.63 |
Drawdowns
ZINC.L vs. GLD - Drawdown Comparison
The maximum ZINC.L drawdown since its inception was -77.49%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for ZINC.L and GLD.
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Drawdown Indicators
| ZINC.L | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.49% | -45.56% | -31.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.74% | -19.21% | +8.47% |
Max Drawdown (3Y)Largest decline over 3 years | -19.66% | -19.21% | -0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -47.04% | -21.03% | -26.01% |
Max Drawdown (10Y)Largest decline over 10 years | -47.04% | -22.00% | -25.04% |
Current DrawdownCurrent decline from peak | -36.98% | -17.07% | -19.91% |
Average DrawdownAverage peak-to-trough decline | -56.38% | -16.16% | -40.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 7.81% | -4.91% |
Volatility
ZINC.L vs. GLD - Volatility Comparison
The current volatility for WisdomTree Zinc (ZINC.L) is 4.90%, while SPDR Gold Shares (GLD) has a volatility of 5.50%. This indicates that ZINC.L experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZINC.L | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 5.50% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.12% | 23.16% | -9.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.26% | 26.60% | -8.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.18% | 18.00% | +7.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.98% | 15.95% | +8.03% |
ZINC.L vs. GLD - Expense Ratio Comparison
ZINC.L has a 0.49% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
ZINC.L vs. GLD - Dividend Comparison
Neither ZINC.L nor GLD has paid dividends to shareholders.
Frequently Asked Questions
ZINC.L and GLD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLD is cheaper with a 0.40% expense ratio, compared with 0.49% for ZINC.L.
ZINC.L is categorized as Metals, while GLD is Gold. ZINC.L tracks Bloomberg Zinc, while GLD tracks LBMA Gold Price PM. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.49% for ZINC.L and 0.40% for GLD.
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