- ISIN
- US98149E2046
- CUSIP
- 98149E204
- Issuer
- State Street
- Inception Date
- Jun 25, 2018
- Category
- Gold, Precious Metals
- Leveraged
- 1x (No leverage)
- Index Tracked
- LBMA Gold Price PM
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $28B
Share Price Chart
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Performance
GLDM Performance Chart
SPDR Gold MiniShares Trust (GLDM) is down 7.8% since the beginning of the year. GLDM is currently trading at $79 per share. Investors who bought $1,000 worth of GLDM shares 5 years ago would now be looking at an investment worth $2,186.
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Returns By Period
SPDR Gold MiniShares Trust (GLDM) has returned -7.79% so far this year and 18.77% over the past 12 months.
SPDR Gold MiniShares Trust
- 1D
- -1.89%
- 1M
- -8.20%
- 6M
- -13.62%
- YTD
- -7.79%
- 1Y
- 18.77%
- 3Y*
- 26.60%
- 5Y*
- 16.93%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.51%
- 1M
- 0.30%
- 6M
- 8.49%
- YTD
- 10.05%
- 1Y
- 20.28%
- 3Y*
- 18.54%
- 5Y*
- 11.73%
- 10Y*
- 13.27%
GLDM Monthly Returns History
Based on dividend-adjusted daily data since Jun 26, 2018, GLDM's average daily return is +0.06%, while the average monthly return is +1.27%. At this rate, an investment would double in approximately 4.6 years.
Historically, 54% of months were positive and 46% were negative. The best month was Jan 2026 with a return of +12.5%, while the worst month was Jun 2026 at -11.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 7 months.
On a daily basis, GLDM closed higher 53% of trading days. The best single day was Feb 3, 2026 with a return of +6.4%, while the worst single day was Jan 30, 2026 at -10.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 12.46% | 8.47% | -10.99% | -1.42% | -1.58% | -11.69% | -0.88% | -7.79% | |||||
| 2025 | 6.71% | 1.91% | 9.46% | 5.45% | -0.03% | 0.43% | -0.56% | 4.99% | 11.77% | 3.58% | 5.39% | 2.29% | 64.20% |
| 2024 | -1.39% | 0.50% | 8.66% | 3.06% | 1.61% | -0.09% | 5.38% | 2.10% | 5.12% | 4.34% | -3.11% | -1.35% | 27.08% |
| 2023 | 5.78% | -5.33% | 7.92% | 0.97% | -1.37% | -2.21% | 2.34% | -1.28% | -4.73% | 7.39% | 2.57% | 1.31% | 13.04% |
| 2022 | -1.65% | 6.15% | 1.34% | -2.08% | -3.21% | -1.59% | -2.48% | -2.92% | -2.91% | -1.73% | 8.42% | 2.99% | -0.47% |
| 2021 | -3.17% | -6.27% | -1.11% | 3.53% | 7.56% | -6.97% | 2.44% | 0.11% | -3.32% | 1.55% | -0.68% | 3.24% | -4.01% |
Benchmark Metrics
SPDR Gold MiniShares Trust has an annualized alpha of 15.26%, beta of 0.10, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since June 26, 2018.
- This ETF captured 37.18% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -8.66%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.10 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 15.26%
- Beta
- 0.10
- R²
- 0.01
- Upside Capture
- 37.18%
- Downside Capture
- -8.66%
Expense Ratio
GLDM has an expense ratio of 0.10%, which is considered low.
Return for Risk
Risk / Return Rank
GLDM ranks 22 for risk / return — below 22% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GLDM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.29 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 2.24 | -1.52 |
| Martin ratioReturn relative to average drawdown | 1.71 | 9.71 | -7.99 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the SPDR Gold MiniShares Trust. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the SPDR Gold MiniShares Trust was 26.27%, occurring on Jul 16, 2026. The portfolio has not yet recovered.
The current SPDR Gold MiniShares Trust drawdown is 26.27%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-26.27%Jul 2026 | 5mo 17d | — | 5mo 18dJan 2026 - now | — |
-21.63%Sep 2022 | 2y 1mo | 1y 3mo | 3y 4moAug 2020 - Dec 2023 | Bear market2022 |
-12.54%Mar 2020 | 9d | 21d | 1moMar 2020 - Apr 2020 | COVID crash2020 |
-10.07%Nov 2025 | 14d | 1mo 18d | 2mo 2dOct 2025 - Dec 2025 | — |
-8.09%Nov 2024 | 15d | 2mo 16d | 3mo 1dOct 2024 - Jan 2025 | — |
Drawdown Indicators
| GLDM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.27% | -56.78% | +30.51% |
Max Drawdown (1Y)Largest decline over 1 year | -26.27% | -9.10% | -17.17% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -18.90% | -7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | -25.43% | -0.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -26.27% | -1.00% | -25.27% |
Average DrawdownAverage peak-to-trough decline | -6.46% | -10.70% | +4.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.98% | 2.09% | +8.89% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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