Wt Phy Gold } H Share Price (GBSP)

The gold spot price is in USD per Troy ounce. This instrument is quoted in GBP so the GBP/USD exchange rate is directly involved. Also the instrument is hedged with gold on deposit, this incurs storage charges. So disappointing, but there may be other better better performing instruments.

On 1st Jan 2022 gold ws £1,353.70 and this fund was 985.25. On 10/6/22 gold is £1520.90 and this fund is 1006.
In that period gold has risen by 12.35%; this fund has risen by 2.1%
I read articles by two separate financial advisors stating that investing in this fund was equivalent to investing in physical gold. I downloaded the fact sheet and the headline was the same although the small print seemed to be giving Wisdomtree caveats to not follow gold if extreme circumstances applied.
The factual truth is this fund has not followed the price of gold throughout the more than six months I have held it, crisis or not.
I can see no point whatsoever in investing in this fund. If you can, please let me know.

This fund is advertised as tracking the price of gold in £. It does not do that. Since Jan this year it has lost value against the gold price in £, in fact it is down 7.90% against the current price of gold in £. Can anyone shed any light on why that is the case.