EMTL vs. GLDM
EMTL (SPDR DoubleLine Emerging Markets Fixed Income ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - EMTL is a Emerging Markets Bonds fund actively managed by State Street, while GLDM is a Gold fund tracking the LBMA Gold Price PM. EMTL is actively managed, while GLDM is passively managed. Over the past 5 years, EMTL returned 1.51%/yr vs 17.32%/yr for GLDM. Their 0.26 correlation means their historical movements had little consistent relationship. EMTL charges 0.65%/yr vs 0.10%/yr for GLDM.
Performance
EMTL vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, EMTL achieves a 0.65% return, which is significantly higher than GLDM's -6.13% return.
EMTL
- 1D
- 0.00%
- 1M
- -0.06%
- 6M
- 0.05%
- YTD
- 0.65%
- 1Y
- 3.21%
- 3Y*
- 6.49%
- 5Y*
- 1.51%
- 10Y*
- 3.00%
- ALL TIME*
- 3.41%
GLDM
- 1D
- 0.00%
- 1M
- -1.72%
- 6M
- -12.88%
- YTD
- -6.13%
- 1Y
- 20.58%
- 3Y*
- 27.67%
- 5Y*
- 17.32%
- 10Y*
- —
- ALL TIME*
- 15.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $352.14K | $728.16K | $831.05K | |
| $270.09M | $250.20M | $318.17M |
EMTL vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF | 0.65% | 8.27% | 5.86% | 9.60% | -14.31% | 0.56% | 3.48% | 11.99% | 0.50% |
GLDM SPDR Gold MiniShares Trust | -6.13% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
Correlation
The correlation between EMTL and GLDM is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.26 |
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Return for Risk
EMTL vs. GLDM — Risk / Return Rank
EMTL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GLDM
EMTL vs. GLDM - 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 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.
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.
| EMTL | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.16 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 0.79 | +0.96 |
| Martin ratioReturn relative to average drawdown | 6.17 | 1.69 | +4.48 |
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Drawdowns
EMTL vs. GLDM - Drawdown Comparison
The maximum EMTL drawdown since its inception was -22.91%, smaller than the maximum GLDM drawdown of -26.27%. Use the drawdown chart below to compare losses from any high point for EMTL and GLDM.
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Drawdown Indicators
| EMTL | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -26.27% | +3.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -26.27% | +24.27% |
Max Drawdown (3Y)Largest decline over 3 years | -3.53% | -26.27% | +22.74% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -26.27% | +3.36% |
Max Drawdown (10Y)Largest decline over 10 years | -22.91% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -24.94% | +24.77% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -6.57% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 12.22% | -11.65% |
Volatility
EMTL vs. GLDM - Volatility Comparison
The current volatility for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) is 0.43%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 6.00%. This indicates that EMTL 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
| EMTL | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 6.00% | -5.57% |
Volatility (6M)Calculated over the trailing 6-month period | 1.72% | 20.89% | -19.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.27% | 27.91% | -25.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 18.40% | -13.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 17.09% | -12.44% |
EMTL vs. GLDM - Expense Ratio Comparison
EMTL has a 0.65% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Dividends
EMTL vs. GLDM - Dividend Comparison
Neither EMTL nor GLDM has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF | 4.53% | 5.09% | 5.34% | 4.78% | 4.19% | 5.43% | 3.28% | 3.96% | 3.35% | 4.16% | 8.87% |
GLDM SPDR Gold MiniShares Trust | 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 GLDM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (6.00%) compared to EMTL (0.43%). In terms of maximum drawdown, EMTL dropped -22.91% vs GLDM's -26.27%.
On 5-year performance, GLDM leads with 17.32% vs 1.51% for EMTL. On fees, GLDM is cheaper at 0.10% per year. On volatility, EMTL has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLDM has performed better with a 17.32% return vs 1.51%. 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 0.65% for EMTL.
EMTL has the higher dividend yield at 4.53%, compared with 0.00% for GLDM.
EMTL is categorized as Emerging Markets Bonds, while GLDM is Gold. Their fees differ too: 0.65% for EMTL and 0.10% for GLDM.
EMTL currently has the higher Sharpe Ratio (1.55 vs 0.74), 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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