AVLV vs. GLDM

Last updated Jul 21, 2026

AVLV (Avantis U.S. Large Cap Value ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - AVLV is a Large Cap Value Equities fund actively managed by Avantis, while GLDM is a Gold fund tracking the LBMA Gold Price PM. AVLV is actively managed, while GLDM is passively managed. Over the past 3 years, AVLV returned 20.50%/yr vs 26.73%/yr for GLDM. At a 0.13 correlation, their price movements are largely independent. AVLV charges 0.15%/yr vs 0.10%/yr for GLDM.

Performance

AVLV vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Large Cap Value ETF (AVLV) 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, AVLV achieves a 21.22% return, which is significantly higher than GLDM's -7.15% return.

AVLV

• 1D: -0.38%
• 1M: 0.38%
• 6M: 15.69%
• YTD: 21.22%
• 1Y: 33.92%
• 3Y*: 20.50%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.64%

GLDM

• 1D: -0.23%
• 1M: -5.00%
• 6M: -12.61%
• YTD: -7.15%
• 1Y: 19.54%
• 3Y*: 26.73%
• 5Y*: 17.18%
• 10Y*: —
• ALL TIME*: 15.27%

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

AVLV vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	21.22%	15.12%	17.49%	17.43%	-5.53%	6.27%
GLDM SPDR Gold MiniShares Trust	-7.15%	64.20%	27.08%	13.04%	-0.47%	3.41%

Correlation

The correlation between AVLV and GLDM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.13

The correlation between AVLV and GLDM shifts across timeframes, from 0.13 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AVLV vs. GLDM — Risk / Return Rank

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

AVLV

AVLV Risk / Return Rank: 94
AVLV Sharpe Ratio Rank: 94
AVLV Sortino Ratio Rank: 94
AVLV Omega Ratio Rank: 93
AVLV Calmar Ratio Rank: 94
AVLV Martin Ratio Rank: 95

GLDM

GLDM Risk / Return Rank: 24
GLDM Sharpe Ratio Rank: 26
GLDM Sortino Ratio Rank: 24
GLDM Omega Ratio Rank: 28
GLDM Calmar Ratio Rank: 22
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.

AVLV vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Large Cap Value ETF (AVLV) 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.

	AVLV	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	2.75	0.71	+2.05
Sortino ratio: Return per unit of downside risk	3.85	1.05	+2.80
Omega ratio: Gain probability vs. loss probability	1.50	1.15	+0.35
Calmar ratio: Return relative to maximum drawdown	5.33	0.75	+4.58
Martin ratio: Return relative to average drawdown	21.13	1.75	+19.39

AVLV vs. GLDM - Sharpe Ratio Comparison

The current AVLV Sharpe Ratio is 2.75, which is higher than the GLDM Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of AVLV 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

AVLV vs. GLDM - Drawdown Comparison

The maximum AVLV drawdown since its inception was -19.50%, smaller than the maximum GLDM drawdown of -26.27%. Use the drawdown chart below to compare losses from any high point for AVLV and GLDM.

Drawdown Indicators

	AVLV	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-19.50%	-26.27%	+6.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-26.27%	+19.88%
Max Drawdown (3Y) Largest decline over 3 years	-19.50%	-26.27%	+6.77%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.27%	—
Current Drawdown Current decline from peak	-0.77%	-25.76%	+24.99%
Average Drawdown Average peak-to-trough decline	-3.85%	-6.48%	+2.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	11.22%	-9.61%

Volatility

AVLV vs. GLDM - Volatility Comparison

The current volatility for Avantis U.S. Large Cap Value ETF (AVLV) is 2.31%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 6.39%. This indicates that AVLV 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.

Volatility by Period

	AVLV	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	6.39%	-4.08%
Volatility (6M) Calculated over the trailing 6-month period	9.10%	24.04%	-14.94%
Volatility (1Y) Calculated over the trailing 1-year period	12.41%	27.86%	-15.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	18.32%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.22%	17.07%	+0.15%

AVLV vs. GLDM - Expense Ratio Comparison

AVLV has a 0.15% expense ratio, which is higher than GLDM's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVLV vs. GLDM - Dividend Comparison

AVLV's dividend yield for the trailing twelve months is around 1.07%, while GLDM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	1.07%	1.33%	1.58%	1.85%	2.00%	0.29%
GLDM SPDR Gold MiniShares Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVLV and GLDM in my portfolio?

AVLV and GLDM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVLV or GLDM?

GLDM has higher volatility (6.39%) compared to AVLV (2.31%). In terms of maximum drawdown, AVLV dropped -19.50% vs GLDM's -26.27%.

Which ETF is better, AVLV or GLDM?

On 3-year performance, GLDM leads with 26.73% vs 20.50% for AVLV. On fees, GLDM is cheaper at 0.10% per year. On volatility, AVLV has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVLV or GLDM?

Over the 3-year period, GLDM has performed better with a 26.73% return vs 20.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVLV or GLDM?

GLDM is cheaper with a 0.10% expense ratio, compared with 0.15% for AVLV.

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

AVLV has the higher dividend yield at 1.07%, compared with 0.00% for GLDM.

What is the main difference between AVLV and GLDM?

AVLV is categorized as Large Cap Value Equities, while GLDM is Gold. They also come from different issuers: Avantis and State Street. Their fees differ too: 0.15% for AVLV and 0.10% for GLDM.

Which has better risk-adjusted returns?

AVLV currently has the higher Sharpe Ratio (2.75 vs 0.71), 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.