EQH vs. GLD

Last updated Jun 3, 2026

EQH (Equitable Holdings, Inc.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, EQH returned 8.18%/yr vs 18.64%/yr for GLD. At a correlation of -0.01, they often move in opposite directions.

Performance

EQH vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Equitable Holdings, Inc. (EQH) 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, EQH achieves a -11.47% return, which is significantly lower than GLD's 3.95% return.

EQH

• 1D: 2.62%
• 1M: -0.65%
• YTD: -11.47%
• 6M: -5.03%
• 1Y: -19.04%
• 3Y*: 20.27%
• 5Y*: 8.18%
• 10Y*: —

GLD

• 1D: 0.17%
• 1M: -2.65%
• YTD: 3.95%
• 6M: 6.38%
• 1Y: 32.18%
• 3Y*: 31.53%
• 5Y*: 18.64%
• 10Y*: 13.23%

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

EQH vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EQH Equitable Holdings, Inc.	-11.47%	3.17%	45.04%	19.63%	-10.17%	31.00%	6.52%	53.13%	-17.22%
GLD SPDR Gold Shares	3.95%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	-3.14%

Correlation

The correlation between EQH and GLD is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since May 11, 2018	-0.01

Return for Risk

EQH vs. GLD — Risk / Return Rank

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

EQH

EQH Risk / Return Rank: 17
EQH Sharpe Ratio Rank: 14
EQH Sortino Ratio Rank: 16
EQH Omega Ratio Rank: 16
EQH Calmar Ratio Rank: 22
EQH Martin Ratio Rank: 18

GLD

GLD Risk / Return Rank: 34
GLD Sharpe Ratio Rank: 34
GLD Sortino Ratio Rank: 30
GLD Omega Ratio Rank: 37
GLD Calmar Ratio Rank: 37
GLD Martin Ratio Rank: 31

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.

EQH vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Equitable Holdings, Inc. (EQH) 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.

	EQH	GLD	Difference
Sharpe ratio Return per unit of total volatility	-0.61	1.22	-1.82
Sortino ratio Return per unit of downside risk	-0.68	1.61	-2.29
Omega ratio Gain probability vs. loss probability	0.92	1.24	-0.33
Calmar ratio Return relative to maximum drawdown	-0.53	1.86	-2.38
Martin ratio Return relative to average drawdown	-1.06	4.66	-5.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQH vs. GLD - Sharpe Ratio Comparison

The current EQH Sharpe Ratio is -0.61, which is lower than the GLD Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of EQH 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.

Sharpe Ratios by Period

	EQH	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	1.22	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	1.04	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.60	-0.29

Drawdowns

EQH vs. GLD - Drawdown Comparison

The maximum EQH drawdown since its inception was -61.33%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for EQH and GLD.

Drawdown Indicators

	EQH	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-61.33%	-45.56%	-15.77%
Max Drawdown (1Y) Largest decline over 1 year	-35.85%	-19.21%	-16.64%
Max Drawdown (3Y) Largest decline over 3 years	-35.85%	-19.21%	-16.64%
Max Drawdown (5Y) Largest decline over 5 years	-35.85%	-21.03%	-14.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.00%	—
Current Drawdown Current decline from peak	-23.95%	-16.93%	-7.02%
Average Drawdown Average peak-to-trough decline	-12.08%	-16.16%	+4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.74%	7.65%	+10.09%

Volatility

EQH vs. GLD - Volatility Comparison

Equitable Holdings, Inc. (EQH) has a higher volatility of 10.56% compared to SPDR Gold Shares (GLD) at 5.78%. This indicates that EQH's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQH	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.56%	5.78%	+4.78%
Volatility (6M) Calculated over the trailing 6-month period	25.13%	23.14%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	31.44%	26.71%	+4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.99%	18.02%	+14.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.76%	15.95%	+22.81%

Dividends

EQH vs. GLD - Dividend Comparison

EQH's dividend yield for the trailing twelve months is around 2.67%, while GLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EQH Equitable Holdings, Inc.	2.67%	2.20%	1.99%	2.58%	2.72%	2.17%	2.58%	2.34%	1.56%
GLD SPDR Gold Shares	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 EQH and GLD in my portfolio?

EQH and GLD have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQH or GLD?

EQH has higher volatility (10.56%) compared to GLD (5.78%). In terms of maximum drawdown, EQH dropped -61.33% vs GLD's -45.56%.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (1.22 vs -0.61), 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.