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CWB vs. GLD
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between CWB and GLD is 0.06, 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.


-0.50.00.51.0
Correlation: 0.1

Performance

CWB vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and SPDR Gold Trust (GLD). The values are adjusted to include any dividend payments, if applicable.

200.00%250.00%300.00%350.00%400.00%NovemberDecember2025FebruaryMarchApril
386.71%
255.12%
CWB
GLD

Key characteristics

Sharpe Ratio

CWB:

0.97

GLD:

2.49

Sortino Ratio

CWB:

1.39

GLD:

3.30

Omega Ratio

CWB:

1.18

GLD:

1.43

Calmar Ratio

CWB:

0.60

GLD:

5.14

Martin Ratio

CWB:

3.50

GLD:

14.01

Ulcer Index

CWB:

3.22%

GLD:

2.98%

Daily Std Dev

CWB:

11.63%

GLD:

16.80%

Max Drawdown

CWB:

-32.06%

GLD:

-45.56%

Current Drawdown

CWB:

-8.89%

GLD:

-3.44%

Returns By Period

In the year-to-date period, CWB achieves a -0.45% return, which is significantly lower than GLD's 25.85% return. Over the past 10 years, CWB has underperformed GLD with an annualized return of 8.55%, while GLD has yielded a comparatively higher 10.13% annualized return.


CWB

YTD

-0.45%

1M

-1.10%

6M

1.14%

1Y

11.76%

5Y*

10.54%

10Y*

8.55%

GLD

YTD

25.85%

1M

9.52%

6M

20.29%

1Y

41.13%

5Y*

13.41%

10Y*

10.13%

*Annualized

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CWB vs. GLD - Expense Ratio Comparison

Both CWB and GLD have an expense ratio of 0.40%.


Expense ratio chart for CWB: current value is 0.40%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
CWB: 0.40%
Expense ratio chart for GLD: current value is 0.40%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
GLD: 0.40%

Risk-Adjusted Performance

CWB vs. GLD — Risk-Adjusted Performance Rank

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

CWB
The Risk-Adjusted Performance Rank of CWB is 7676
Overall Rank
The Sharpe Ratio Rank of CWB is 7979
Sharpe Ratio Rank
The Sortino Ratio Rank of CWB is 7878
Sortino Ratio Rank
The Omega Ratio Rank of CWB is 7676
Omega Ratio Rank
The Calmar Ratio Rank of CWB is 6868
Calmar Ratio Rank
The Martin Ratio Rank of CWB is 7777
Martin Ratio Rank

GLD
The Risk-Adjusted Performance Rank of GLD is 9696
Overall Rank
The Sharpe Ratio Rank of GLD is 9696
Sharpe Ratio Rank
The Sortino Ratio Rank of GLD is 9696
Sortino Ratio Rank
The Omega Ratio Rank of GLD is 9595
Omega Ratio Rank
The Calmar Ratio Rank of GLD is 9797
Calmar Ratio Rank
The Martin Ratio Rank of GLD is 9696
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

CWB vs. GLD - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and SPDR Gold Trust (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.


The chart of Sharpe ratio for CWB, currently valued at 0.97, compared to the broader market-1.000.001.002.003.004.00
CWB: 0.97
GLD: 2.49
The chart of Sortino ratio for CWB, currently valued at 1.39, compared to the broader market-2.000.002.004.006.008.00
CWB: 1.39
GLD: 3.30
The chart of Omega ratio for CWB, currently valued at 1.18, compared to the broader market0.501.001.502.002.50
CWB: 1.18
GLD: 1.43
The chart of Calmar ratio for CWB, currently valued at 0.60, compared to the broader market0.002.004.006.008.0010.0012.00
CWB: 0.60
GLD: 5.14
The chart of Martin ratio for CWB, currently valued at 3.50, compared to the broader market0.0020.0040.0060.00
CWB: 3.50
GLD: 14.01

The current CWB Sharpe Ratio is 0.97, which is lower than the GLD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of CWB and GLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.000.501.001.502.002.503.003.50NovemberDecember2025FebruaryMarchApril
0.97
2.49
CWB
GLD

Dividends

CWB vs. GLD - Dividend Comparison

CWB's dividend yield for the trailing twelve months is around 1.91%, while GLD has not paid dividends to shareholders.


TTM20242023202220212020201920182017201620152014
CWB
SPDR Bloomberg Barclays Convertible Securities ETF
1.91%1.85%1.97%2.21%1.97%2.34%3.03%6.17%4.25%4.60%7.52%7.37%
GLD
SPDR Gold 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%

Drawdowns

CWB vs. GLD - Drawdown Comparison

The maximum CWB drawdown since its inception was -32.06%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for CWB and GLD. For additional features, visit the drawdowns tool.


-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-8.89%
-3.44%
CWB
GLD

Volatility

CWB vs. GLD - Volatility Comparison

The current volatility for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) is 7.31%, while SPDR Gold Trust (GLD) has a volatility of 8.30%. This indicates that CWB 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.


2.00%3.00%4.00%5.00%6.00%7.00%8.00%NovemberDecember2025FebruaryMarchApril
7.31%
8.30%
CWB
GLD