PHPM/PHPPWisdomTree Physical Precious Metals
ISIN: JE00B1VS3W290,44%
Management Fee (MER)
As of 02/11/2026
20 April 2007
Inception Date
346.180.650 US$
Fund AUM
As of 02/11/2026
USD
Base currency
Overview
Product Description
WisdomTree Physical Precious Metals is a UCITS Eligible Exchange Traded Commodity (ETC) designed to offer security holders a simple, cost-efficient and secure way to access Physical Precious Metals by providing a return equivalent to the movements in the Physical Precious Metals spot price less the applicable management fee. WisdomTree Physical Precious Metals is backed by physical, allocated Physical Precious Metals held by HSBC Bank plc (the custodian). Only metal that conforms with the London Bullion Market Association's (LBMA) and London Platinum and Palladium Association's (LPPM) rules for Good Delivery can be accepted by the custodian. Each physical bar is segregated, individually identified and allocated. For example, if Physical Precious Metals rises by 1% over a day, then the ETC will rise by 1%, excluding fees. However if Physical Precious Metals falls by 1% over a day, then the ETC will fall by 1%, excluding fees.
Why PHPM/PHPP?
- Physically backed, direct Investment in Physical Precious Metals.
- UCITS eligible and fully collateralised.
- Transparent performance and fees.
- Transparency: Metal entitlement is published daily.
- Easy to invest: Everything in one product which does not require the investor to manage storage, insurance or delivery of the metal.
- Risk Management: You cannot lose more than the amount invested.
- Liquidity: Trades on exchange, with multiple authorised participants (APs) and market makers (MMs).
Potential Risks
- An investment in an ETP involves a degree of risk. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should obtain independent accounting, tax and legal advice and should consult their professional advisers to ascertain the suitability of this ETP as an investment to their own circumstances.
- This ETP is structured as a debt security and not as shares (equity) and can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. This ETP is not a UCITS product.
- Market Risk: The price of Physical Precious Metals may fluctuate and may be affected by numerous factors including supply and demand, the global financial markets and other political, financial or economic events. The value of securities in this ETP is directly affected by increases and decreases in the value of Physical Precious Metals. Accordingly, the value of a security may go up or down and a security holder may lose some or all of the amount invested but can not lose more than the amount invested.
- Liquidity risk: There can be no certainty that securities can always be bought or sold on a stock exchange or that the market price at which the securities may be traded on a stock exchange will always accurately reflect the price of Physical Precious Metals .
- Currency Risk: The price of Physical Precious Metals is generally quoted in US Dollars. To the extent that a security holder values their holdings in another currency, the value will be affected by changes in the exchange rate.
- Please see the risks factors section of the Prospectus for a more detailed discussion of the potential risks
Articles and Research Papers
Nitesh Shah
WisdomTree Gold Outlook to Q3 2027
A firmer foundation, renewed potential
- Gold
- Commodities
- Precious Metals
Nitesh Shah
Silver Outlook to Q3 2027: Gold-led recovery, industrial constraints
We expect silver to recover towards US$70/oz by Q3 2027, led by higher gold prices as bond yields and dollar strength ease. Weaker solar demand, thrifting and substitution constrain industrial consumption, partly offset by automotive electrification and AI investment. Increased recycling and easing regional inventory tightness may also temper the upside.
- Commodities
- Precious Metals
Nitesh Shah
Currency hedging physical silver exposure
Silver is priced in US dollars, so exchange-rate moves can materially affect returns for euro- and sterling-based investors. Currency hedging can reduce this impact, particularly when the dollar weakens. WisdomTree’s new physically backed, EUR- and GBP-hedged silver ETCs combine daily currency hedging with physical silver exposure.
- Commodities
- Precious Metals
Mobeen Tahir, Aneeka Gupta, Tobias Lazar
Commodity Outlook: The baton never drops but who carries it keeps changing
Gold and oil led 2026's commodity rally before metals and now agriculture take the baton. This blog summarises the key messages from our recently published Commodity Outlook. This includes the Iran conflict's lasting impact, tightening metals demand from AI and defence, El Niño risk to food prices, and why gold and broad commodity exposure still look attractive into 2027.
- Commodities
- Broad Commodities
- Agricultural Commodities
- Precious Metals
- Energy Transition
- Energy Transition Metals
- Market Outlook
Fund Overview
Product Overview | As of 02/11/2026 |
|---|---|
| ISIN | JE00B1VS3W29 |
| Asset Class | Commodities |
| Base Currency | USD |
| Inception Date | 20 April 2007 |
| Currency Hedged | No – this product is not protected against adverse currency movements |
| Vault Inspector | Inspectorate International (Vault inspected 2x per annum) |
| Vault Location | London |
| Metals Lending | No |
| Physical Delivery | No |
| Underlying exposure | Physically backed with allocated metal subject to LBMA and LPPM rules for Good Delivery |
Net Asset Value | As of 02/11/2026 |
|---|---|
| NAV | 232,036 US$ |
| Daily Change | 1,697 US$ |
| Daily return | 0,737% |
| Total AUM of fund | 346.180.650 US$ |
| Issuer AUM | 17.613.041.593 US$ |
| Shares Outstanding | 1.483.629 |
| Metal Entitlement | Gold 55,070.8 fine troy oz Palladium 27,000.6 troy oz Platinum 13,500.3 troy oz Silver 1,620,040 troy oz |
| Ounces | Gold 0.037061516 fine troy oz Palladium 0.018170867 troy oz Platinum 0.009085433 troy oz Silver 1.090251984 troy oz |
Structure
Structure | As of 02/11/2026 |
|---|---|
| Legal form | Debt security |
| Legal Structure | ETC |
| Replication Method | Physical - backed by bullion |
| Domicile | Jersey |
Further Legal and Tax Information | As of 02/11/2026 |
|---|---|
| ISA | Eligible |
| SIPP | Eligible |
| UCITS Eligible | Yes |
| UK Reporting Status | Yes |
| Sharia Compliant | Yes |
Key Service Providers
Key Service Providers | As of 02/11/2026 |
|---|---|
| Custodian | HSBC Bank plc |
| Trustee | The Law Debenture Trust Corporation p.l.c. |
| Issuer | WisdomTree Metal Securities Limited |
| Registrar | Computershare Investor Services (Jersey) Ltd |
Fees | As of 02/11/2026 |
|---|---|
| Management Fee (MER) | 0,44% |
Passported Countries
Listings & Codes
Country | Exchange | Trading Currency | Exchange Ticker | Bloomberg Ticker | RIC | SEDOL | ISIN | WKN | Settlement Period | Listing Date |
|---|---|---|---|---|---|---|---|---|---|---|
| LSE | USD | PHPM | PHPM LN | PHPM.L | B1VS3W2 | JE00B1VS3W29 | A0N6XL | T + 2 | 24/04/2007 | |
| LSE | GBP | PHPP | PHPP LN | PHPP.L | B285ZX8 | JE00B1VS3W29 | A0N6XL | T + 2 | 29/10/2007 | |
| Borsa Italiana | EUR | PHPM | PHPM IM | PHPM.MI | B1Z4LN3 | JE00B1VS3W29 | A0N6XL | T + 2 | 20/06/2007 | |
| Xetra | EUR | VZLE | VZLE GY | VZLE.DE | BYMJJ16 | JE00B1VS3W29 | A0N6XL | T + 2 | 08/05/2007 | |
| Euronext (FR) | EUR | PHPM | PHPM NA | PHPM.AS | B1XF019 | JE00B1VS3W29 | A0N6XL | T + 2 | 18/05/2007 | |
| TSE | JPY | 1676 | 1676 JP | 1676.T | B670Y68 | JE00B1VS3W29 | A0N6XL | T + 2 | 24/08/2009 |
Underlying Holdings
As of 02/11/2026
Name | Weight (%) |
|---|---|
| Gold | 63.17 |
| Silver | 23.55 |
| Palladium | 7.62 |
| Platinum | 5.65 |
| Remaining Portfolio | 0.01 |
*Holdings are subject to change without notice.
Sector Breakdown
As of 02/11/2026
Name | Weight (%) |
|---|---|
Precious Metals | 99.99 |
*Sectors are subject to change without notice
Precious Metal Spot price
Each individual WisdomTree Physical Precious Metals security has an effective entitlement to a basket of physical precious metals, and that entitlement changes daily to reflect the accrual of the management fee.
Authorised Participants create and redeem WisdomTree Physical Precious Metals securities by delivering or receiving precious metals that conforms to the LBMA and LPPM Good Delivery standards.
WisdomTree Physical Precious Metals securities are traded on exchange with a price that is based on the spot price of the individual precious metals multiplied by the applicable metal entitlement.
Price Reference | |
|---|---|
Price Reference Name | Precious Metal Spot price |
Documents
DISCLAIMERS
The products discussed in this document are issued by WisdomTree Metal Securities Limited (the "Issuer"). The Issuer is regulated by the Jersey Financial Services Commission. Investors should read the prospectus of the Issuer before investing and should refer to the section of the prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the securities offered by the Issuer.
Securities issued by the Issuer are direct, limited recourse obligations of the Issuer alone and are not obligations of or guaranteed by any of HSBC Bank plc and JP Morgan Chase Bank, N.A. any of their affiliates or anyone else or any of their affiliates. Each of HSBC Bank plcand JP Morgan Chase Bank, N.A. disclaims all and any liability whether arising in tort, contract or otherwise which it might have in respect of this document or its contents otherwise arising in connection herewith.