AUAU vs. GLDM

Last updated Jun 4, 2026

AUAU (Global X Gold Miners ETF) and GLDM (SPDR Gold MiniShares Trust) are both Gold funds - AUAU tracks the NYSE Arca Gold Miners Index while GLDM tracks the LBMA Gold Price PM. Both are passively managed. Their correlation of 0.82 suggests significant overlap in exposure. AUAU charges 0.35%/yr vs 0.10%/yr for GLDM.

Performance

AUAU vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Gold Miners ETF (AUAU) 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, AUAU achieves a 0.16% return, which is significantly lower than GLDM's 3.00% return.

AUAU

• 1D: -3.14%
• 1M: -0.85%
• YTD: 0.16%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDM

• 1D: -0.96%
• 1M: -1.62%
• YTD: 3.00%
• 6M: 5.60%
• 1Y: 32.42%
• 3Y*: 31.49%
• 5Y*: 18.49%
• 10Y*: —

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

AUAU vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025
AUAU Global X Gold Miners ETF	0.16%	4.18%
GLDM SPDR Gold MiniShares Trust	3.00%	1.96%

Correlation

The correlation between AUAU and GLDM is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.82

Return for Risk

AUAU vs. GLDM — Risk / Return Rank

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

GLDM

GLDM Risk / Return Rank: 32
GLDM Sharpe Ratio Rank: 33
GLDM Sortino Ratio Rank: 29
GLDM Omega Ratio Rank: 36
GLDM Calmar Ratio Rank: 34
GLDM Martin Ratio Rank: 29

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.

AUAU vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Miners ETF (AUAU) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AUAU	GLDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.24	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	1.02	-0.83

Drawdowns

AUAU vs. GLDM - Drawdown Comparison

The maximum AUAU drawdown since its inception was -30.38%, which is greater than GLDM's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for AUAU and GLDM.

Drawdown Indicators

	AUAU	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-30.38%	-21.63%	-8.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.14%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.92%	—
Current Drawdown Current decline from peak	-26.02%	-17.65%	-8.37%
Average Drawdown Average peak-to-trough decline	-12.64%	-6.22%	-6.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.69%	—

Volatility

Volatility by Period

	AUAU	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	50.87%	26.39%	+24.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.87%	17.91%	+32.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.87%	16.85%	+34.02%

AUAU vs. GLDM - Expense Ratio Comparison

AUAU has a 0.35% expense ratio, which is higher than GLDM's 0.10% expense ratio.

Dividends

AUAU vs. GLDM - Dividend Comparison

Neither AUAU nor GLDM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AUAU and GLDM in my portfolio?

AUAU and GLDM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AUAU or GLDM?

On fees, GLDM is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AUAU or GLDM?

GLDM is cheaper with a 0.10% expense ratio, compared with 0.35% for AUAU.

Which ETF pays a higher dividend yield, AUAU or GLDM?

AUAU and GLDM have nearly identical dividend yields, around 0.00%.

What is the main difference between AUAU and GLDM?

AUAU tracks NYSE Arca Gold Miners Index, while GLDM tracks LBMA Gold Price PM. They also come from different issuers: Global X and State Street. Their fees differ too: 0.35% for AUAU and 0.10% for GLDM.