CWB vs. GLD
Compare and contrast key facts about SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and SPDR Gold Trust (GLD).
CWB and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009. GLD is a passively managed fund by State Street that tracks the performance of the Gold Bullion. It was launched on Nov 18, 2004. Both CWB and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CWB or GLD.
Key characteristics
| CWB | GLD | |
|---|---|---|
| YTD Return | 11.62% | 24.30% |
| 1Y Return | 20.62% | 30.48% |
| 3Y Return (Ann) | -1.58% | 10.88% |
| 5Y Return (Ann) | 10.62% | 11.49% |
| 10Y Return (Ann) | 9.21% | 7.59% |
| Sharpe Ratio | 2.71 | 2.14 |
| Sortino Ratio | 3.89 | 2.86 |
| Omega Ratio | 1.49 | 1.37 |
| Calmar Ratio | 0.98 | 4.10 |
| Martin Ratio | 14.84 | 13.62 |
| Ulcer Index | 1.52% | 2.32% |
| Daily Std Dev | 8.31% | 14.79% |
| Max Drawdown | -32.06% | -45.56% |
| Current Drawdown | -7.19% | -7.72% |
Correlation
The correlation between CWB and GLD is 0.08, 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.
Performance
CWB vs. GLD - Performance Comparison
In the year-to-date period, CWB achieves a 11.62% return, which is significantly lower than GLD's 24.30% return. Over the past 10 years, CWB has outperformed GLD with an annualized return of 9.21%, while GLD has yielded a comparatively lower 7.59% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CWB vs. GLD - Expense Ratio Comparison
Both CWB and GLD have an expense ratio of 0.40%.
Risk-Adjusted Performance
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.
Dividends
CWB vs. GLD - Dividend Comparison
CWB's dividend yield for the trailing twelve months is around 1.72%, while GLD has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.72% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% | 7.36% | 3.66% |
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.
Volatility
CWB vs. GLD - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) is 2.41%, while SPDR Gold Trust (GLD) has a volatility of 5.47%. 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.