BLX vs. GLD
Compare and contrast key facts about Banco Latinoamericano de Comercio Exterior, S.A (BLX) and SPDR Gold Shares (GLD).
GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004.
Performance
BLX vs. GLD - Performance Comparison
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BLX vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BLX Banco Latinoamericano de Comercio Exterior, S.A | 16.14% | 33.06% | 53.73% | 60.61% | 4.31% | 11.50% | -19.47% | 33.06% | -31.32% | -3.40% |
GLD SPDR Gold Shares | 8.57% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Returns By Period
In the year-to-date period, BLX achieves a 16.14% return, which is significantly higher than GLD's 8.57% return. Over the past 10 years, BLX has outperformed GLD with an annualized return of 14.96%, while GLD has yielded a comparatively lower 13.92% annualized return.
BLX
- 1D
- 1.23%
- 1M
- 2.10%
- YTD
- 16.14%
- 6M
- 14.28%
- 1Y
- 47.82%
- 3Y*
- 51.95%
- 5Y*
- 35.37%
- 10Y*
- 14.96%
GLD
- 1D
- 3.79%
- 1M
- -11.05%
- YTD
- 8.57%
- 6M
- 21.05%
- 1Y
- 49.33%
- 3Y*
- 32.92%
- 5Y*
- 21.58%
- 10Y*
- 13.92%
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Return for Risk
BLX vs. GLD — Risk / Return Rank
BLX
GLD
BLX vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Latinoamericano de Comercio Exterior, S.A (BLX) and SPDR Gold Shares (GLD). 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.
| BLX | GLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.97 | 1.79 | +0.18 |
Sortino ratioReturn per unit of downside risk | 2.70 | 2.21 | +0.48 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.33 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 3.75 | 2.68 | +1.07 |
Martin ratioReturn relative to average drawdown | 9.79 | 9.90 | -0.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BLX | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | 1.79 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.39 | 1.22 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.88 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.62 | -0.41 |
Correlation
The correlation between BLX and GLD is 0.03, 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.
Dividends
BLX vs. GLD - Dividend Comparison
BLX's dividend yield for the trailing twelve months is around 5.02%, while GLD has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLX Banco Latinoamericano de Comercio Exterior, S.A | 5.02% | 5.61% | 5.62% | 4.04% | 6.17% | 6.02% | 7.17% | 7.20% | 8.90% | 5.72% | 5.23% | 4.96% |
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
BLX vs. GLD - Drawdown Comparison
The maximum BLX drawdown since its inception was -95.88%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for BLX and GLD.
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Drawdown Indicators
| BLX | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.88% | -45.56% | -50.32% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -19.21% | +6.79% |
Max Drawdown (5Y)Largest decline over 5 years | -30.88% | -21.03% | -9.85% |
Max Drawdown (10Y)Largest decline over 10 years | -68.51% | -22.00% | -46.51% |
Current DrawdownCurrent decline from peak | -0.18% | -13.23% | +13.05% |
Average DrawdownAverage peak-to-trough decline | -33.09% | -16.17% | -16.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 5.20% | -0.44% |
Volatility
BLX vs. GLD - Volatility Comparison
The current volatility for Banco Latinoamericano de Comercio Exterior, S.A (BLX) is 6.84%, while SPDR Gold Shares (GLD) has a volatility of 11.06%. This indicates that BLX experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLX | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 11.06% | -4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 15.57% | 24.30% | -8.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.44% | 27.80% | -3.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.57% | 17.74% | +7.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.13% | 15.87% | +16.26% |