E vs. GLD

Last updated Jun 13, 2026

E (Eni S.p.A.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, E returned 12.46%/yr vs 12.15%/yr for GLD. At a 0.19 correlation, their price movements are largely independent.

Performance

E vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eni S.p.A. (E) 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, E achieves a 44.27% return, which is significantly higher than GLD's -2.47% return. Both investments have delivered pretty close results over the past 10 years, with E having a 12.46% annualized return and GLD not far behind at 12.15%.

E

• 1D: -1.04%
• 1M: -2.55%
• YTD: 44.27%
• 6M: 45.57%
• 1Y: 75.29%
• 3Y*: 32.48%
• 5Y*: 23.85%
• 10Y*: 12.46%

GLD

• 1D: 0.06%
• 1M: -10.21%
• YTD: -2.47%
• 6M: -2.25%
• 1Y: 23.81%
• 3Y*: 28.89%
• 5Y*: 17.08%
• 10Y*: 12.15%

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

E vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
E Eni S.p.A.	44.27%	48.40%	-13.95%	26.73%	10.92%	43.12%	-28.73%	4.29%	-0.98%	7.27%
GLD SPDR Gold Shares	-2.47%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	-1.94%	12.81%

Correlation

The correlation between E and GLD is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004	0.19

Return for Risk

E vs. GLD — Risk / Return Rank

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

E

E Risk / Return Rank: 96
E Sharpe Ratio Rank: 97
E Sortino Ratio Rank: 95
E Omega Ratio Rank: 95
E Calmar Ratio Rank: 97
E Martin Ratio Rank: 98

GLD

GLD Risk / Return Rank: 26
GLD Sharpe Ratio Rank: 27
GLD Sortino Ratio Rank: 25
GLD Omega Ratio Rank: 30
GLD Calmar Ratio Rank: 24
GLD Martin Ratio Rank: 24

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.

E vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eni S.p.A. (E) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	E	GLD	Difference
Sharpe ratio: Return per unit of total volatility	3.34	0.87	+2.46
Sortino ratio: Return per unit of downside risk	3.93	1.24	+2.69
Omega ratio: Gain probability vs. loss probability	1.53	1.18	+0.35
Calmar ratio: Return relative to maximum drawdown	8.14	0.98	+7.16
Martin ratio: Return relative to average drawdown	26.54	2.81	+23.73

E vs. GLD - Sharpe Ratio Comparison

The current E Sharpe Ratio is 3.34, which is higher than the GLD Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of E 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.

Drawdowns

E vs. GLD - Drawdown Comparison

The maximum E drawdown since its inception was -70.53%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for E and GLD.

Drawdown Indicators

	E	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-70.53%	-45.56%	-24.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-24.46%	+15.16%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-24.46%	+4.33%
Max Drawdown (5Y) Largest decline over 5 years	-33.71%	-24.46%	-9.25%
Max Drawdown (10Y) Largest decline over 10 years	-61.59%	-24.46%	-37.13%
Current Drawdown Current decline from peak	-6.08%	-22.05%	+15.97%
Average Drawdown Average peak-to-trough decline	-23.07%	-16.16%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	8.49%	-5.64%

Volatility

E vs. GLD - Volatility Comparison

The current volatility for Eni S.p.A. (E) is 6.01%, while SPDR Gold Shares (GLD) has a volatility of 7.79%. This indicates that E 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.

Volatility by Period

	E	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.01%	7.79%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	19.56%	24.10%	-4.54%
Volatility (1Y) Calculated over the trailing 1-year period	22.72%	27.37%	-4.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.04%	18.22%	+6.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.30%	16.08%	+12.22%

Dividends

E vs. GLD - Dividend Comparison

E's dividend yield for the trailing twelve months is around 4.50%, while GLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
E Eni S.p.A.	4.50%	5.88%	7.69%	5.74%	6.38%	5.79%	5.91%	6.11%	5.15%	3.96%	3.98%	5.14%
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%

Frequently Asked Questions

Can I hold both E and GLD in my portfolio?

E and GLD have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, E or GLD?

GLD has higher volatility (7.79%) compared to E (6.01%). In terms of maximum drawdown, E dropped -70.53% vs GLD's -45.56%.

Which has better risk-adjusted returns?

E currently has the higher Sharpe Ratio (3.34 vs 0.87), 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.