^GSPC vs. GC=F

Last updated Apr 1, 2026

Compare and contrast key facts about S&P 500 Index (^GSPC) and Gold (GC=F).

Performance

^GSPC vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Index (^GSPC) and Gold (GC=F). The values are adjusted to include any dividend payments, if applicable.

^GSPC vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%
GC=F Gold	8.65%	64.52%	27.48%	13.34%	-0.43%	-3.47%	24.59%	18.87%	-2.14%	13.59%

Returns By Period

In the year-to-date period, ^GSPC achieves a -4.63% return, which is significantly lower than GC=F's 8.65% return. Over the past 10 years, ^GSPC has underperformed GC=F with an annualized return of 12.16%, while GC=F has yielded a comparatively higher 14.42% annualized return.

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

GC=F

• 1D: 3.84%
• 1M: -10.15%
• YTD: 8.65%
• 6M: 22.36%
• 1Y: 50.49%
• 3Y*: 33.64%
• 5Y*: 22.17%
• 10Y*: 14.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^GSPC vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

GC=F

GC=F Risk / Return Rank: 93
GC=F Sharpe Ratio Rank: 100
GC=F Sortino Ratio Rank: 100
GC=F Omega Ratio Rank: 100
GC=F Calmar Ratio Rank: 73
GC=F Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^GSPC vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and Gold (GC=F). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^GSPC	GC=F	Difference
Sharpe ratio Return per unit of total volatility	0.90	1.75	-0.86
Sortino ratio Return per unit of downside risk	1.39	2.16	-0.78
Omega ratio Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio Return relative to maximum drawdown	1.40	2.76	-1.36
Martin ratio Return relative to average drawdown	6.61	10.35	-3.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^GSPC vs. GC=F - Sharpe Ratio Comparison

The current ^GSPC Sharpe Ratio is 0.90, which is lower than the GC=F Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of ^GSPC and GC=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^GSPC	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	1.75	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	1.23	-0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.88	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.64	-0.18

Correlation

The correlation between ^GSPC and GC=F is 0.00, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

^GSPC vs. GC=F - Drawdown Comparison

The maximum ^GSPC drawdown since its inception was -56.78%, which is greater than GC=F's maximum drawdown of -44.36%. Use the drawdown chart below to compare losses from any high point for ^GSPC and GC=F.

Drawdown Indicators

	^GSPC	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-56.78%	-44.36%	-12.42%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	-17.73%	+5.59%
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	-20.43%	-5.00%
Max Drawdown (10Y) Largest decline over 10 years	-33.92%	-20.87%	-13.05%
Current Drawdown Current decline from peak	-6.45%	-11.64%	+5.19%
Average Drawdown Average peak-to-trough decline	-10.75%	-13.03%	+2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	4.73%	-2.16%

Volatility

^GSPC vs. GC=F - Volatility Comparison

The current volatility for S&P 500 Index (^GSPC) is 5.34%, while Gold (GC=F) has a volatility of 11.60%. This indicates that ^GSPC experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^GSPC	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	11.60%	-6.26%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	24.62%	-15.08%
Volatility (1Y) Calculated over the trailing 1-year period	18.33%	27.78%	-9.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	17.96%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	16.36%	+1.69%