Gold Bullion Securities



Ticker GBSS

0.40% p.a.
Distribution policy
Full replication
Fund size
2,362 m




The Gold spot price is the price of gold in US Dollar.
The ETC's TER (total expense ratio) amounts to 0.40% p.a.. The ETC replicates the performance of the underlying index with a collateralised debt obligation which is backed by physical holdings of the precious metal.
The Gold Bullion Securities is a very large ETC with 2,362m GBP assets under management. The ETC was launched on 31 March 2004 and is domiciled in Jersey.
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Fund size
GBP 2,362 m
Total expense ratio
0.40% p.a.
Replication Physical (Physically backed)
Legal structure ETC
Strategy risk Long-only
Fund currency USD
Currency risk Currency unhedged
Volatility 1 year (in GBP)
Inception/ Listing Date 31 March 2004
Distribution policy Accumulating
Distribution frequency -
Fund domicile Jersey
Fund Provider WisdomTree
Germany No tax rebate
Switzerland ESTV Reporting
Austria Non-Tax Reporting Fund
UK UK Reporting
Indextype -
Swap counterparty -
Collateral manager -
Securities lending No
Securities lending counterparty -

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This section provides you with information on other ETCs with a similar investment focus to the Gold Bullion Securities.
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Returns overview

YTD +3.30%
1 month +5.37%
3 months +4.38%
6 months -1.53%
1 year +5.87%
3 years +4.08%
5 years +68.72%
Since inception (MAX) +526.75%
2022 +11.64%
2021 -3.11%
2020 +19.89%
2019 +12.89%

Monthly returns in a heat map


Risk metrics in this section:
  • Volatility, annualised, measured for 1, 3 and 5 year periods. The annualised volatility reflects the degree of price fluctuations during a one year period. The greater the volatility, the more significantly the price of the ETF changed in the past. ETFs with higher volatility are generally considered more risky. We calculate the volatility based on the data for the past 1, 3 and 5 years so that you can see if price fluctuations for the ETF became stronger or weaker over time.
  • Return per risk for 1, 3 and 5 year periods. This is the annualised (i.e. converted to a one year period) past return divided by the past annualised volatility. The metric puts the historical return of an ETF in relation to its historical risk and gives you a retrospective indication of the degree of price fluctuation you had to bear with in order to obtain the ETF’s return. We calculate this parameter for 1, 3 and 5 year periods to display its evolution over time.
  • Maximum drawdown for a period. This shows the worst possible loss an investor could have suffered during the respective period, by first buying and subsequently selling the ETF at the least favourable prices. For example, if there was the following sequence of daily ETF prices: 10€, 5€, 12€, 20€, an investor would have suffered the worst loss by buying for 10€ and subsequently selling for 5€. Therefore in this case the maximum drawdown would be (5€ - 10€)/10€ = -50%.
The performance numbers include distributions/dividends (if there are any).
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Risk overview

Volatility 1 year 14.53%
Volatility 3 years 15.49%
Volatility 5 years 15.49%
Return per risk 1 year 0.40
Return per risk 3 years 0.09
Return per risk 5 years 0.71
Maximum drawdown 1 year -9.16%
Maximum drawdown 3 years -18.52%
Maximum drawdown 5 years -22.30%
Maximum drawdown since inception -42.06%

Rolling 1 year volatility

Stock exchange


Listing Trade Currency Ticker Bloomberg /
iNAV Bloomberg Code
Reuters RIC /
iNAV Reuters
Market Maker
gettex EUR GG9B -
Borsa Italiana EUR GBS -
London Stock Exchange GBX GBSS -
London Stock Exchange USD GBS -

Further information

Further ETCs on Gold

Fund name Fund Size in m € (AuM) TER
in % p.a.
Distribution policy Replication method
Invesco Physical Gold A 14,618 0.12% p.a. Accumulating Full replication
iShares Physical Gold ETC 13,581 0.12% p.a. Accumulating Full replication
WisdomTree Physical Gold 4,506 0.39% p.a. Accumulating Full replication
Amundi Physical Gold ETC (C) 3,994 0.12% p.a. Accumulating Full replication
Xtrackers IE Physical Gold ETC Securities 2,862 0.12% p.a. Accumulating Full replication

Frequently asked questions

What is the name of GBSS?

The name of GBSS is Gold Bullion Securities.

What is the ticker of Gold Bullion Securities?

The primary ticker of Gold Bullion Securities is GBSS.

What is the ISIN of Gold Bullion Securities?

The ISIN of Gold Bullion Securities is GB00B00FHZ82.

What are the costs of Gold Bullion Securities?

The total expense ratio (TER) of Gold Bullion Securities amounts to 0.40% p.a.. These costs are withdrawn continuously from the fund assets and already included in the performance of the ETF. You don't have to pay them separately. Please have a look at our article for more information about the cost of ETFs.

What's the fund size of Gold Bullion Securities?

The fund size of Gold Bullion Securities is 2,362m GBP. See the following article for more information about the size of ETFs.

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— Data provided by Trackinsight, etfinfo, Xignite Inc. and justETF GmbH.

All quotes are 15 minutes delayed stock exchange quotes or NAVs (=daily published by fund provider). Returns include dividend payments. There is no warranty for completeness, accuracy and correctness for the displayed information.