AGG vs. GLDM
AGG (iShares Core U.S. Aggregate Bond ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, AGG returned 0.06%/yr vs 17.41%/yr for GLDM. At a 0.35 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.10%/yr for GLDM.
Performance
AGG vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, AGG achieves a 0.52% return, which is significantly higher than GLDM's -2.40% return.
AGG
- 1D
- -0.12%
- 1M
- 0.46%
- YTD
- 0.52%
- 6M
- 0.93%
- 1Y
- 4.87%
- 3Y*
- 4.19%
- 5Y*
- 0.06%
- 10Y*
- 1.57%
GLDM
- 1D
- 0.11%
- 1M
- -9.52%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
AGG vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 0.52% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 2.19% |
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
Correlation
The correlation between AGG and GLDM is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.35 |
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Return for Risk
AGG vs. GLDM — Risk / Return Rank
AGG
GLDM
AGG vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and SPDR Gold MiniShares Trust (GLDM). 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.
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.
| AGG | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.00 | +0.64 |
| Martin ratioReturn relative to average drawdown | 4.82 | 2.87 | +1.95 |
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Drawdowns
AGG vs. GLDM - Drawdown Comparison
The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum GLDM drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for AGG and GLDM.
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Drawdown Indicators
| AGG | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -24.35% | +5.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -24.35% | +21.59% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -24.35% | +18.24% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | -24.35% | +6.53% |
Max Drawdown (10Y)Largest decline over 10 years | -18.43% | — | — |
Current DrawdownCurrent decline from peak | -1.88% | -21.96% | +20.08% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -6.27% | +3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 8.44% | -7.50% |
Volatility
AGG vs. GLDM - Volatility Comparison
The current volatility for iShares Core U.S. Aggregate Bond ETF (AGG) is 1.37%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 7.73%. This indicates that AGG experiences smaller price fluctuations and is considered to be less risky than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGG | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 7.73% | -6.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 23.93% | -21.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 27.15% | -23.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 18.13% | -12.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 16.98% | -11.57% |
AGG vs. GLDM - Expense Ratio Comparison
AGG has a 0.03% expense ratio, which is lower than GLDM's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AGG vs. GLDM - Dividend Comparison
AGG's dividend yield for the trailing twelve months is around 3.98%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.98% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGG and GLDM have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (7.73%) compared to AGG (1.37%). In terms of maximum drawdown, AGG dropped -18.43% vs GLDM's -24.35%.
On 5-year performance, GLDM leads with 17.41% vs 0.06% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, AGG has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLDM has performed better with a 17.41% return vs 0.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 0.10% for GLDM.
AGG has the higher dividend yield at 3.98%, compared with 0.00% for GLDM.
AGG is categorized as Total Bond Market, while GLDM is Gold. AGG tracks Bloomberg U.S. Aggregate Bond Index, while GLDM tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.03% for AGG and 0.10% for GLDM.
AGG currently has the higher Sharpe Ratio (1.19 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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