DFCF vs. GLDM
DFCF (Dimensional Core Fixed Income ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - DFCF is a Intermediate Core Bond fund actively managed by Dimensional, while GLDM is a Gold fund tracking the LBMA Gold Price PM. DFCF is actively managed, while GLDM is passively managed. Over the past 3 years, DFCF returned 4.72%/yr vs 30.08%/yr for GLDM. At a 0.33 correlation, their price movements are largely independent. DFCF charges 0.17%/yr vs 0.10%/yr for GLDM.
Performance
DFCF vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, DFCF achieves a -0.06% return, which is significantly lower than GLDM's 0.30% return.
DFCF
- 1D
- -0.07%
- 1M
- -0.75%
- YTD
- -0.06%
- 6M
- 0.27%
- 1Y
- 5.55%
- 3Y*
- 4.72%
- 5Y*
- —
- 10Y*
- —
GLDM
- 1D
- 0.25%
- 1M
- -8.41%
- YTD
- 0.30%
- 6M
- 3.19%
- 1Y
- 30.55%
- 3Y*
- 30.08%
- 5Y*
- 17.89%
- 10Y*
- —
DFCF vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DFCF Dimensional Core Fixed Income ETF | -0.06% | 7.89% | 1.86% | 6.94% | -14.48% | 0.23% |
GLDM SPDR Gold MiniShares Trust | 0.30% | 64.20% | 27.08% | 13.04% | -0.47% | -1.20% |
Correlation
The correlation between DFCF and GLDM is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021 | 0.33 |
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Return for Risk
DFCF vs. GLDM — Risk / Return Rank
DFCF
GLDM
DFCF vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Core Fixed Income ETF (DFCF) 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.
| DFCF | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.53 | +0.46 |
| Martin ratioReturn relative to average drawdown | 5.98 | 3.85 | +2.13 |
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
| DFCF | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 1.15 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.99 | -0.97 |
Drawdowns
DFCF vs. GLDM - Drawdown Comparison
The maximum DFCF drawdown since its inception was -19.56%, smaller than the maximum GLDM drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for DFCF and GLDM.
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Drawdown Indicators
| DFCF | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.56% | -21.63% | +2.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -20.00% | +17.21% |
Max Drawdown (3Y)Largest decline over 3 years | -5.05% | -20.00% | +14.95% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.92% | — |
Current DrawdownCurrent decline from peak | -1.88% | -19.80% | +17.92% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -6.24% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 7.96% | -7.03% |
Volatility
DFCF vs. GLDM - Volatility Comparison
The current volatility for Dimensional Core Fixed Income ETF (DFCF) is 1.34%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 5.65%. This indicates that DFCF 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.
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Volatility by Period
| DFCF | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 5.65% | -4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 23.31% | -20.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 26.65% | -22.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 17.98% | -11.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.46% | 16.89% | -10.43% |
DFCF vs. GLDM - Expense Ratio Comparison
DFCF has a 0.17% 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
DFCF vs. GLDM - Dividend Comparison
DFCF's dividend yield for the trailing twelve months is around 4.33%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DFCF Dimensional Core Fixed Income ETF | 4.33% | 4.48% | 4.61% | 4.51% | 3.27% | 0.16% |
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFCF and GLDM have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (5.65%) compared to DFCF (1.34%). In terms of maximum drawdown, DFCF dropped -19.56% vs GLDM's -21.63%.
On 3-year performance, GLDM leads with 30.08% vs 4.72% for DFCF. On fees, GLDM is cheaper at 0.10% per year. On volatility, DFCF has been the lower-risk option at 1.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GLDM has performed better with a 30.08% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.17% for DFCF.
DFCF has the higher dividend yield at 4.33%, compared with 0.00% for GLDM.
DFCF is categorized as Intermediate Core Bond, while GLDM is Gold. They also come from different issuers: Dimensional and State Street. Their fees differ too: 0.17% for DFCF and 0.10% for GLDM.
DFCF currently has the higher Sharpe Ratio (1.42 vs 1.15), 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.
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