AHT vs. GLDM

Last updated Jun 24, 2026

AHT (Ashford Hospitality Trust, Inc.) is a stock, while GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, AHT returned -63.53%/yr vs 18.18%/yr for GLDM. At a 0.06 correlation, their price movements are largely independent.

Performance

AHT vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ashford Hospitality Trust, Inc. (AHT) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHT achieves a -23.94% return, which is significantly lower than GLDM's -4.72% return.

AHT

• 1D: 0.62%
• 1M: 8.72%
• YTD: -23.94%
• 6M: -13.60%
• 1Y: -45.18%
• 3Y*: -54.89%
• 5Y*: -63.53%
• 10Y*: -50.80%

GLDM

• 1D: -1.91%
• 1M: -8.82%
• YTD: -4.72%
• 6M: -8.62%
• 1Y: 21.66%
• 3Y*: 28.79%
• 5Y*: 18.18%
• 10Y*: —

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

AHT vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AHT Ashford Hospitality Trust, Inc.	-23.94%	-40.75%	-62.94%	-56.60%	-53.44%	-62.93%	-90.72%	-22.08%	-41.12%
GLDM SPDR Gold MiniShares Trust	-4.72%	64.20%	27.08%	13.04%	-0.47%	-4.01%	25.10%	18.10%	1.75%

Correlation

The correlation between AHT and GLDM is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018	0.06

The correlation between AHT and GLDM shifts across timeframes, from 0.02 (1 year) to 0.12 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

AHT vs. GLDM — Risk / Return Rank

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

AHT

AHT Risk / Return Rank: 15
AHT Sharpe Ratio Rank: 13
AHT Sortino Ratio Rank: 11
AHT Omega Ratio Rank: 13
AHT Calmar Ratio Rank: 16
AHT Martin Ratio Rank: 21

GLDM

GLDM Risk / Return Rank: 22
GLDM Sharpe Ratio Rank: 23
GLDM Sortino Ratio Rank: 21
GLDM Omega Ratio Rank: 25
GLDM Calmar Ratio Rank: 20
GLDM Martin Ratio Rank: 21

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.

AHT vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ashford Hospitality Trust, Inc. (AHT) 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.

	AHT	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	0.80	-1.47
Sortino ratio: Return per unit of downside risk	-1.08	1.15	-2.23
Omega ratio: Gain probability vs. loss probability	0.88	1.17	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.70	0.89	-1.59
Martin ratio: Return relative to average drawdown	-1.02	2.40	-3.42

AHT vs. GLDM - Sharpe Ratio Comparison

The current AHT Sharpe Ratio is -0.67, which is lower than the GLDM Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of AHT and GLDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AHT vs. GLDM - Drawdown Comparison

The maximum AHT drawdown since its inception was -99.96%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for AHT and GLDM.

Drawdown Indicators

	AHT	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-24.35%	-75.61%
Max Drawdown (1Y) Largest decline over 1 year	-64.81%	-24.35%	-40.46%
Max Drawdown (3Y) Largest decline over 3 years	-93.62%	-24.35%	-69.27%
Max Drawdown (5Y) Largest decline over 5 years	-99.50%	-24.35%	-75.15%
Max Drawdown (10Y) Largest decline over 10 years	-99.96%	—	—
Current Drawdown Current decline from peak	-99.96%	-23.82%	-76.14%
Average Drawdown Average peak-to-trough decline	-46.07%	-6.32%	-39.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.53%	9.05%	+35.48%

Volatility

AHT vs. GLDM - Volatility Comparison

Ashford Hospitality Trust, Inc. (AHT) has a higher volatility of 10.36% compared to SPDR Gold MiniShares Trust (GLDM) at 8.16%. This indicates that AHT's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHT	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.36%	8.16%	+2.20%
Volatility (6M) Calculated over the trailing 6-month period	35.55%	24.22%	+11.33%
Volatility (1Y) Calculated over the trailing 1-year period	67.50%	27.36%	+40.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.77%	18.15%	+60.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.70%	17.02%	+104.68%

Dividends

AHT vs. GLDM - Dividend Comparison

Neither AHT nor GLDM has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHT Ashford Hospitality Trust, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.94%	12.00%	7.13%	6.19%	17.40%
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

Can I hold both AHT and GLDM in my portfolio?

AHT and GLDM have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHT or GLDM?

AHT has higher volatility (10.36%) compared to GLDM (8.16%). In terms of maximum drawdown, AHT dropped -99.96% vs GLDM's -24.35%.

Which has better risk-adjusted returns?

GLDM currently has the higher Sharpe Ratio (0.80 vs -0.67), 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.