FGDIX vs. GLDM

Last updated Jun 24, 2026

FGDIX (Fidelity Advisor Gold Fund Class I) and GLDM (SPDR Gold MiniShares Trust) are both Gold funds. Over the past 5 years, FGDIX returned 16.95%/yr vs 18.18%/yr for GLDM. A 0.77 correlation means they provide meaningful diversification when combined. FGDIX charges 0.76%/yr vs 0.10%/yr for GLDM.

Performance

FGDIX vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Gold Fund Class I (FGDIX) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGDIX achieves a -2.10% return, which is significantly higher than GLDM's -4.72% return.

FGDIX

• 1D: -0.85%
• 1M: -3.07%
• YTD: -2.10%
• 6M: -6.92%
• 1Y: 50.29%
• 3Y*: 40.57%
• 5Y*: 16.95%
• 10Y*: 10.62%

GLDM

• 1D: -1.91%
• 1M: -8.82%
• YTD: -4.72%
• 6M: -8.62%
• 1Y: 21.66%
• 3Y*: 28.79%
• 5Y*: 18.18%
• 10Y*: —

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

FGDIX vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FGDIX Fidelity Advisor Gold Fund Class I	-2.10%	142.97%	14.91%	-0.39%	-13.42%	-10.45%	26.84%	35.51%	-3.88%
GLDM SPDR Gold MiniShares Trust	-4.72%	64.20%	27.08%	13.04%	-0.47%	-4.01%	25.10%	18.10%	1.75%

Correlation

The correlation between FGDIX and GLDM is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018	0.77

The correlation between FGDIX and GLDM has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

Return for Risk

FGDIX vs. GLDM — Risk / Return Rank

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

FGDIX

FGDIX Risk / Return Rank: 18
FGDIX Sharpe Ratio Rank: 19
FGDIX Sortino Ratio Rank: 16
FGDIX Omega Ratio Rank: 20
FGDIX Calmar Ratio Rank: 19
FGDIX Martin Ratio Rank: 16

GLDM

GLDM Risk / Return Rank: 22
GLDM Sharpe Ratio Rank: 23
GLDM Sortino Ratio Rank: 21
GLDM Omega Ratio Rank: 25
GLDM Calmar Ratio Rank: 20
GLDM Martin Ratio Rank: 21

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.

FGDIX vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Gold Fund Class I (FGDIX) 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.

	FGDIX	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	1.15	0.80	+0.35
Sortino ratio: Return per unit of downside risk	1.56	1.15	+0.41
Omega ratio: Gain probability vs. loss probability	1.22	1.17	+0.05
Calmar ratio: Return relative to maximum drawdown	1.46	0.89	+0.57
Martin ratio: Return relative to average drawdown	3.94	2.40	+1.54

FGDIX vs. GLDM - Sharpe Ratio Comparison

The current FGDIX Sharpe Ratio is 1.15, which is higher than the GLDM Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of FGDIX and GLDM, 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

FGDIX vs. GLDM - Drawdown Comparison

The maximum FGDIX drawdown since its inception was -77.15%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for FGDIX and GLDM.

Drawdown Indicators

	FGDIX	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-77.15%	-24.35%	-52.80%
Max Drawdown (1Y) Largest decline over 1 year	-35.40%	-24.35%	-11.05%
Max Drawdown (3Y) Largest decline over 3 years	-35.40%	-24.35%	-11.05%
Max Drawdown (5Y) Largest decline over 5 years	-45.94%	-24.35%	-21.59%
Max Drawdown (10Y) Largest decline over 10 years	-50.57%	—	—
Current Drawdown Current decline from peak	-28.30%	-23.82%	-4.48%
Average Drawdown Average peak-to-trough decline	-39.77%	-6.32%	-33.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.09%	9.05%	+4.04%

Volatility

FGDIX vs. GLDM - Volatility Comparison

Fidelity Advisor Gold Fund Class I (FGDIX) has a higher volatility of 17.05% compared to SPDR Gold MiniShares Trust (GLDM) at 8.16%. This indicates that FGDIX's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGDIX	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.05%	8.16%	+8.89%
Volatility (6M) Calculated over the trailing 6-month period	37.81%	24.22%	+13.59%
Volatility (1Y) Calculated over the trailing 1-year period	45.09%	27.36%	+17.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.10%	18.15%	+15.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.39%	17.02%	+16.37%

FGDIX vs. GLDM - Expense Ratio Comparison

FGDIX has a 0.76% expense ratio, which is higher than GLDM's 0.10% expense ratio.

Dividends

FGDIX vs. GLDM - Dividend Comparison

FGDIX's dividend yield for the trailing twelve months is around 5.15%, while GLDM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FGDIX Fidelity Advisor Gold Fund Class I	5.15%	2.10%	3.58%	0.97%	0.36%	1.59%	4.40%	0.41%	0.00%	0.23%	3.65%
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

Can I hold both FGDIX and GLDM in my portfolio?

FGDIX and GLDM have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGDIX or GLDM?

FGDIX has higher volatility (17.05%) compared to GLDM (8.16%). In terms of maximum drawdown, FGDIX dropped -77.15% vs GLDM's -24.35%.

Which has better risk-adjusted returns?

FGDIX currently has the higher Sharpe Ratio (1.15 vs 0.80), 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.