BTGD vs. GLD

Last updated Jun 4, 2026

BTGD (STKD Bitcoin & Gold ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - BTGD is a Cryptocurrency fund actively managed by Quantify Funds, while GLD is a Gold fund tracking the LBMA Gold Price PM. BTGD is actively managed, while GLD is passively managed. Over the past year, BTGD returned -30.17% vs 32.04% for GLD. A 0.51 correlation means they provide meaningful diversification when combined. BTGD charges 1.00%/yr vs 0.40%/yr for GLD.

Performance

BTGD vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in STKD Bitcoin & Gold ETF (BTGD) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTGD achieves a -28.65% return, which is significantly lower than GLD's 2.92% return.

BTGD

• 1D: -4.01%
• 1M: -20.36%
• YTD: -28.65%
• 6M: -31.64%
• 1Y: -30.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLD

• 1D: -0.99%
• 1M: -1.65%
• YTD: 2.92%
• 6M: 5.43%
• 1Y: 32.04%
• 3Y*: 31.09%
• 5Y*: 18.15%
• 10Y*: 13.12%

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

BTGD vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTGD STKD Bitcoin & Gold ETF	-28.65%	34.62%	29.81%
GLD SPDR Gold Shares	2.92%	63.68%	-2.03%

Correlation

The correlation between BTGD and GLD is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.51

The correlation between BTGD and GLD has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

Return for Risk

BTGD vs. GLD — Risk / Return Rank

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

BTGD

BTGD Risk / Return Rank: 4
BTGD Sharpe Ratio Rank: 4
BTGD Sortino Ratio Rank: 4
BTGD Omega Ratio Rank: 4
BTGD Calmar Ratio Rank: 3
BTGD Martin Ratio Rank: 3

GLD

GLD Risk / Return Rank: 32
GLD Sharpe Ratio Rank: 32
GLD Sortino Ratio Rank: 29
GLD Omega Ratio Rank: 35
GLD Calmar Ratio Rank: 33
GLD Martin Ratio Rank: 28

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.

BTGD vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for STKD Bitcoin & Gold ETF (BTGD) 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.

	BTGD	GLD	Difference
Sharpe ratio Return per unit of total volatility	-0.55	1.21	-1.76
Sortino ratio Return per unit of downside risk	-0.51	1.60	-2.12
Omega ratio Gain probability vs. loss probability	0.94	1.24	-0.30
Calmar ratio Return relative to maximum drawdown	-0.63	1.68	-2.31
Martin ratio Return relative to average drawdown	-1.25	4.15	-5.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTGD vs. GLD - Sharpe Ratio Comparison

The current BTGD Sharpe Ratio is -0.55, which is lower than the GLD Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of BTGD and GLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTGD	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	1.21	-1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.60	-0.34

Drawdowns

BTGD vs. GLD - Drawdown Comparison

The maximum BTGD drawdown since its inception was -47.73%, roughly equal to the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for BTGD and GLD.

Drawdown Indicators

	BTGD	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-47.73%	-45.56%	-2.17%
Max Drawdown (1Y) Largest decline over 1 year	-47.73%	-19.21%	-28.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.00%	—
Current Drawdown Current decline from peak	-47.73%	-17.75%	-29.98%
Average Drawdown Average peak-to-trough decline	-14.58%	-16.16%	+1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.09%	7.73%	+16.36%

Volatility

BTGD vs. GLD - Volatility Comparison

STKD Bitcoin & Gold ETF (BTGD) has a higher volatility of 11.95% compared to SPDR Gold Shares (GLD) at 5.51%. This indicates that BTGD's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTGD	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.95%	5.51%	+6.44%
Volatility (6M) Calculated over the trailing 6-month period	45.64%	23.16%	+22.48%
Volatility (1Y) Calculated over the trailing 1-year period	55.04%	26.61%	+28.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.51%	18.00%	+37.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.51%	15.95%	+39.56%

BTGD vs. GLD - Expense Ratio Comparison

BTGD has a 1.00% expense ratio, which is higher than GLD's 0.40% expense ratio.

Dividends

BTGD vs. GLD - Dividend Comparison

BTGD's dividend yield for the trailing twelve months is around 4.71%, while GLD has not paid dividends to shareholders.

Position	TTM	2025	2024
BTGD STKD Bitcoin & Gold ETF	4.71%	3.36%	0.19%
GLD SPDR Gold Shares	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTGD and GLD in my portfolio?

BTGD and GLD have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTGD or GLD?

BTGD has higher volatility (11.95%) compared to GLD (5.51%). In terms of maximum drawdown, BTGD dropped -47.73% vs GLD's -45.56%.

Which ETF is better, BTGD or GLD?

On 1-year performance, GLD leads with 32.04% vs -30.17% for BTGD. On fees, GLD is cheaper at 0.40% per year. On volatility, GLD has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTGD or GLD?

Over the 1-year period, GLD has performed better with a 32.04% return vs -30.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTGD or GLD?

GLD is cheaper with a 0.40% expense ratio, compared with 1.00% for BTGD.

Which ETF pays a higher dividend yield, BTGD or GLD?

BTGD has the higher dividend yield at 4.71%, compared with 0.00% for GLD.

What is the main difference between BTGD and GLD?

BTGD is categorized as Cryptocurrency, while GLD is Gold. They also come from different issuers: Quantify Funds and State Street. Their fees differ too: 1.00% for BTGD and 0.40% for GLD.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (1.21 vs -0.55), 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.