EMTL vs. GLD
EMTL (SPDR DoubleLine Emerging Markets Fixed Income ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - EMTL is a Emerging Markets Bonds fund actively managed by State Street, while GLD is a Gold fund tracking the LBMA Gold Price PM. EMTL is actively managed, while GLD is passively managed. Over the past 10 years, EMTL returned 3.38%/yr vs 13.12%/yr for GLD. At a 0.24 correlation, their price movements are largely independent. EMTL charges 0.65%/yr vs 0.40%/yr for GLD.
Performance
EMTL vs. GLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMTL achieves a 0.74% return, which is significantly lower than GLD's 2.92% return. Over the past 10 years, EMTL has underperformed GLD with an annualized return of 3.38%, while GLD has yielded a comparatively higher 13.12% annualized return.
EMTL
- 1D
- -0.09%
- 1M
- 0.49%
- YTD
- 0.74%
- 6M
- 0.89%
- 1Y
- 5.61%
- 3Y*
- 7.09%
- 5Y*
- 1.79%
- 10Y*
- 3.38%
GLD
- 1D
- -0.99%
- 1M
- -1.65%
- YTD
- 2.92%
- 6M
- 5.43%
- 1Y
- 32.04%
- 3Y*
- 31.09%
- 5Y*
- 18.15%
- 10Y*
- 13.12%
EMTL vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF | 0.74% | 8.27% | 5.86% | 9.60% | -14.31% | 0.56% | 3.48% | 11.99% | -2.37% | 7.59% |
GLD SPDR Gold Shares | 2.92% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between EMTL and GLD is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2016 | 0.24 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMTL vs. GLD — Risk / Return Rank
EMTL
GLD
EMTL vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) 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.
| EMTL | GLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.54 | 1.21 | +1.33 |
Sortino ratioReturn per unit of downside risk | 3.76 | 1.60 | +2.16 |
Omega ratioGain probability vs. loss probability | 1.51 | 1.24 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.68 | +1.14 |
Martin ratioReturn relative to average drawdown | 10.06 | 4.15 | +5.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EMTL | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 1.21 | +1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 1.01 | -0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.83 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.60 | +0.14 |
Drawdowns
EMTL vs. GLD - Drawdown Comparison
The maximum EMTL drawdown since its inception was -22.91%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for EMTL and GLD.
Loading charts...
Drawdown Indicators
| EMTL | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -45.56% | +22.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -19.21% | +17.21% |
Max Drawdown (3Y)Largest decline over 3 years | -3.79% | -19.21% | +15.42% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -21.03% | -1.88% |
Max Drawdown (10Y)Largest decline over 10 years | -22.91% | -22.00% | -0.91% |
Current DrawdownCurrent decline from peak | -0.09% | -17.75% | +17.66% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -16.16% | +12.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 7.73% | -7.17% |
Volatility
EMTL vs. GLD - Volatility Comparison
The current volatility for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) is 0.67%, while SPDR Gold Shares (GLD) has a volatility of 5.51%. This indicates that EMTL 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.
Loading charts...
Volatility by Period
| EMTL | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 5.51% | -4.84% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 23.16% | -21.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.22% | 26.61% | -24.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 18.00% | -13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 15.95% | -11.28% |
EMTL vs. GLD - Expense Ratio Comparison
EMTL has a 0.65% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
EMTL vs. GLD - Dividend Comparison
EMTL's dividend yield for the trailing twelve months is around 4.95%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF | 4.95% | 5.09% | 5.34% | 4.78% | 4.19% | 5.43% | 3.28% | 3.96% | 3.35% | 4.16% | 8.87% |
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% |
Frequently Asked Questions
EMTL and GLD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (5.51%) compared to EMTL (0.67%). In terms of maximum drawdown, EMTL dropped -22.91% vs GLD's -45.56%.
On 10-year performance, GLD leads with 13.12% vs 3.38% for EMTL. On fees, GLD is cheaper at 0.40% per year. On volatility, EMTL has been the lower-risk option at 0.67%. 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 13.12% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.65% for EMTL.
EMTL has the higher dividend yield at 4.95%, compared with 0.00% for GLD.
EMTL is categorized as Emerging Markets Bonds, while GLD is Gold. Their fees differ too: 0.65% for EMTL and 0.40% for GLD.
EMTL currently has the higher Sharpe Ratio (2.54 vs 1.21), 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.
Find the right allocation for EMTL and GLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer