EEMV vs. GLD
EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - EEMV is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, EEMV returned 7.04%/yr vs 12.33%/yr for GLD. At a 0.22 correlation, their price movements are largely independent. EEMV charges 0.25%/yr vs 0.40%/yr for GLD.
Performance
EEMV vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, EEMV achieves a 20.09% return, which is significantly higher than GLD's 0.06% return. Over the past 10 years, EEMV has underperformed GLD with an annualized return of 7.04%, while GLD has yielded a comparatively higher 12.33% annualized return.
EEMV
- 1D
- 2.55%
- 1M
- 7.71%
- YTD
- 20.09%
- 6M
- 21.21%
- 1Y
- 27.78%
- 3Y*
- 14.32%
- 5Y*
- 6.38%
- 10Y*
- 7.04%
GLD
- 1D
- 2.59%
- 1M
- -4.97%
- YTD
- 0.06%
- 6M
- 0.19%
- 1Y
- 25.38%
- 3Y*
- 29.73%
- 5Y*
- 18.31%
- 10Y*
- 12.33%
EEMV vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF | 20.09% | 13.45% | 7.98% | 7.75% | -13.94% | 5.05% | 6.90% | 7.83% | -5.81% | 27.28% |
GLD SPDR Gold Shares | 0.06% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between EEMV and GLD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.22 |
The correlation between EEMV and GLD shifts across timeframes, from 0.22 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EEMV vs. GLD — Risk / Return Rank
EEMV
GLD
EEMV vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) 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.
| EEMV | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.19 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 1.04 | +1.98 |
| Martin ratioReturn relative to average drawdown | 10.90 | 2.97 | +7.93 |
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Drawdowns
EEMV vs. GLD - Drawdown Comparison
The maximum EEMV drawdown since its inception was -31.56%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for EEMV and GLD.
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Drawdown Indicators
| EEMV | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.56% | -45.56% | +14.00% |
Max Drawdown (1Y)Largest decline over 1 year | -9.22% | -24.46% | +15.24% |
Max Drawdown (3Y)Largest decline over 3 years | -12.47% | -24.46% | +11.99% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -24.46% | +2.56% |
Max Drawdown (10Y)Largest decline over 10 years | -31.56% | -24.46% | -7.10% |
Current DrawdownCurrent decline from peak | 0.00% | -20.03% | +20.03% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -16.16% | +8.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 8.59% | -6.03% |
Volatility
EEMV vs. GLD - Volatility Comparison
iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) and SPDR Gold Shares (GLD) have volatilities of 8.16% and 8.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEMV | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.16% | 8.37% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 13.51% | 24.21% | -10.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.67% | 27.49% | -12.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 18.26% | -6.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.99% | 16.10% | -2.11% |
EEMV vs. GLD - Expense Ratio Comparison
EEMV has a 0.25% expense ratio, which is lower than GLD's 0.40% expense ratio.
Dividends
EEMV vs. GLD - Dividend Comparison
EEMV's dividend yield for the trailing twelve months is around 3.07%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF | 3.07% | 2.65% | 3.50% | 2.75% | 1.93% | 2.14% | 2.45% | 2.63% | 2.46% | 2.34% | 2.79% | 2.55% |
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
EEMV and GLD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.37%) compared to EEMV (8.16%). In terms of maximum drawdown, EEMV dropped -31.56% vs GLD's -45.56%.
On 10-year performance, GLD leads with 12.33% vs 7.04% for EEMV. On fees, EEMV is cheaper at 0.25% per year. On volatility, EEMV has been the lower-risk option at 8.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 12.33% return vs 7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EEMV is cheaper with a 0.25% expense ratio, compared with 0.40% for GLD.
EEMV has the higher dividend yield at 3.07%, compared with 0.00% for GLD.
EEMV is categorized as Asia Pacific Equities, while GLD is Gold. EEMV tracks MSCI Emerging Markets Minimum Volatility Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for EEMV and 0.40% for GLD.
EEMV currently has the higher Sharpe Ratio (1.91 vs 0.93), 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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