GAL vs. PICK
GAL (SPDR SSgA Global Allocation ETF) and PICK (iShares MSCI Global Metals & Mining Producers ETF) are both exchange-traded funds - GAL is a Diversified Portfolio fund actively managed by State Street, while PICK is a Metals fund tracking the MSCI ACWI Select Metals & Mining Producers ex Gold and Silver Investable Market Index. GAL is actively managed, while PICK is passively managed. Over the past 10 years, GAL returned 8.42%/yr vs 17.20%/yr for PICK. A 0.68 correlation means they provide meaningful diversification when combined. GAL charges 0.35%/yr vs 0.39%/yr for PICK.
Performance
GAL vs. PICK - Performance Comparison
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Returns By Period
In the year-to-date period, GAL achieves a 8.73% return, which is significantly lower than PICK's 22.74% return. Over the past 10 years, GAL has underperformed PICK with an annualized return of 8.42%, while PICK has yielded a comparatively higher 17.20% annualized return.
GAL
- 1D
- 0.20%
- 1M
- 1.01%
- YTD
- 8.73%
- 6M
- 8.55%
- 1Y
- 19.75%
- 3Y*
- 13.84%
- 5Y*
- 7.11%
- 10Y*
- 8.42%
PICK
- 1D
- -0.67%
- 1M
- -0.87%
- YTD
- 22.74%
- 6M
- 23.41%
- 1Y
- 79.31%
- 3Y*
- 20.05%
- 5Y*
- 11.96%
- 10Y*
- 17.20%
GAL vs. PICK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GAL SPDR SSgA Global Allocation ETF | 8.73% | 15.95% | 9.85% | 13.32% | -13.41% | 12.23% | 9.33% | 19.59% | -7.71% | 18.67% |
PICK iShares MSCI Global Metals & Mining Producers ETF | 22.74% | 51.89% | -16.37% | 9.69% | 2.54% | 22.61% | 27.46% | 16.47% | -18.65% | 38.42% |
Correlation
The correlation between GAL and PICK is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012 | 0.68 |
The correlation between GAL and PICK has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
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Return for Risk
GAL vs. PICK — Risk / Return Rank
GAL
PICK
GAL vs. PICK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Global Allocation ETF (GAL) and iShares MSCI Global Metals & Mining Producers ETF (PICK). 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.
| GAL | PICK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.44 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 4.08 | -0.91 |
| Martin ratioReturn relative to average drawdown | 13.17 | 15.49 | -2.32 |
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Drawdowns
GAL vs. PICK - Drawdown Comparison
The maximum GAL drawdown since its inception was -28.31%, smaller than the maximum PICK drawdown of -68.87%. Use the drawdown chart below to compare losses from any high point for GAL and PICK.
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Drawdown Indicators
| GAL | PICK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.31% | -68.87% | +40.56% |
Max Drawdown (1Y)Largest decline over 1 year | -6.27% | -19.54% | +13.27% |
Max Drawdown (3Y)Largest decline over 3 years | -9.12% | -32.52% | +23.40% |
Max Drawdown (5Y)Largest decline over 5 years | -21.14% | -36.37% | +15.23% |
Max Drawdown (10Y)Largest decline over 10 years | -28.31% | -52.72% | +24.41% |
Current DrawdownCurrent decline from peak | -0.56% | -8.58% | +8.02% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -24.06% | +20.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.50% | 5.14% | -3.64% |
Volatility
GAL vs. PICK - Volatility Comparison
The current volatility for SPDR SSgA Global Allocation ETF (GAL) is 3.40%, while iShares MSCI Global Metals & Mining Producers ETF (PICK) has a volatility of 12.41%. This indicates that GAL experiences smaller price fluctuations and is considered to be less risky than PICK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAL | PICK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.40% | 12.41% | -9.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.55% | 26.15% | -18.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.21% | 29.84% | -20.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.50% | 28.07% | -17.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.41% | 28.43% | -17.02% |
GAL vs. PICK - Expense Ratio Comparison
GAL has a 0.35% expense ratio, which is lower than PICK's 0.39% expense ratio.
Dividends
GAL vs. PICK - Dividend Comparison
GAL's dividend yield for the trailing twelve months is around 3.12%, more than PICK's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAL SPDR SSgA Global Allocation ETF | 3.12% | 3.47% | 2.99% | 2.56% | 6.19% | 4.05% | 2.14% | 2.96% | 2.43% | 2.26% | 2.43% | 3.10% |
PICK iShares MSCI Global Metals & Mining Producers ETF | 2.11% | 2.88% | 3.26% | 4.19% | 6.93% | 5.89% | 2.27% | 5.51% | 4.77% | 2.41% | 1.15% | 15.77% |
Frequently Asked Questions
GAL and PICK have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PICK has higher volatility (12.41%) compared to GAL (3.40%). In terms of maximum drawdown, GAL dropped -28.31% vs PICK's -68.87%.
On 10-year performance, PICK leads with 17.20% vs 8.42% for GAL. On fees, GAL is cheaper at 0.35% per year. On volatility, GAL has been the lower-risk option at 3.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PICK has performed better with a 17.20% return vs 8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GAL is cheaper with a 0.35% expense ratio, compared with 0.39% for PICK.
GAL has the higher dividend yield at 3.12%, compared with 2.11% for PICK.
GAL is categorized as Diversified Portfolio, while PICK is Metals. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for GAL and 0.39% for PICK.
PICK currently has the higher Sharpe Ratio (2.68 vs 2.16), 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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