PHAU: WisdomTree Physical Gold returns, drawdowns and risk
Funds and ETCs backed by physical gold, silver or platinum.
Data updated October 2026
PHAU · Borsa Italiana · EURCategory: Gold and precious metals ETFsData from January 2010
From January 2010 to October 2026 PHAU returned 9.2% a year on average with dividends reinvested, in euros: €10,000 invested at the start grew to €43,618.
Its deepest fall was 37.2%, from September 2012 to December 2013, and it took about 88 months to get back to the previous high. Annual volatility was 15.4%; at the last close it was 20.4% below its high.
Against SGLD (Invesco Physical Gold ETC), over the 143 months both have data, the correlation of monthly returns was 0.99: they moved almost in lockstep. Beta was 0.98. In months when SGLD rose, PHAU moved 98% as much on average; in months when SGLD fell, 98% as much.
Key figures
- Annual return (CAGR)
- +9.2%
- 1-year return
- +3.8%
- 5 years, a year
- +18.1%
- 10 years, a year
- +11.6%
- Annual volatility
- 15.4%
- Maximum drawdown
- −37.2%
- Sharpe ratio
- 0.62
- Worst year
- 2013: −30.6%
Trailing returns
| Period | PHAU | SGLD |
|---|---|---|
| 1 year | +3.8% | +4.1% |
| 3 years, a year | +23.8% | +24.2% |
| 5 years, a year | +18.1% | +18.4% |
| 10 years, a year | +11.6% | +11.8% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of €10,000: PHAU vs SGLD
Month-end values from December 2014, the first month both funds have data.
PHAU drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | PHAU | SGLD |
|---|---|---|
| 2026(partial) | −2.9% | −2.6% |
| 2025 | +47.9% | +48.2% |
| 2024 | +33.5% | +33.7% |
| 2023 | +9.5% | +9.9% |
| 2022 | +5.8% | +6.0% |
| 2021 | +3.8% | +4.1% |
| 2020 | +13.2% | +13.4% |
| 2019 | +20.5% | +20.7% |
| 2018 | +2.5% | +2.5% |
| 2017 | −1.3% | −1.2% |
| 2016 | +12.3% | +12.3% |
| 2015 | −2.1% | −2.8% |
| 2014 | +13.0% | +5.1% |
| 2013 | −30.6% | — |
| 2012 | +2.9% | — |
| 2011 | +14.2% | — |
| 2010(partial) | +35.7% | — |
PHAU compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of PHAU?
From January 2010 to October 2026 PHAU returned 9.2% a year on average (CAGR) with dividends reinvested, in EUR. Over the last 5 years: +18.1% a year. Over the last 12 months: +3.8%.
What was the worst drawdown of PHAU?
37.2%, from September 2012 to December 2013; it took about 88 months from the previous high to get back to it.
How volatile is PHAU?
Annual volatility was 15.4% over the period. Its worst month was −13.1% and 55% of months were positive. Worst calendar year: 2013 (−30.6%).
How closely does PHAU follow SGLD?
Over 143 months the correlation of monthly returns was 0.99, so they moved almost in lockstep, with a beta of 0.98.
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Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.