GAU vs. GLD

Last updated Jun 4, 2026

GAU (Galiano Gold Inc.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, GAU returned -5.59%/yr vs 13.12%/yr for GLD. At a 0.49 correlation, their price movements are largely independent.

Performance

GAU vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Galiano Gold Inc. (GAU) 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, GAU achieves a -15.02% return, which is significantly lower than GLD's 2.92% return. Over the past 10 years, GAU has underperformed GLD with an annualized return of -5.59%, while GLD has yielded a comparatively higher 13.12% annualized return.

GAU

• 1D: -3.59%
• 1M: -5.70%
• YTD: -15.02%
• 6M: -8.12%
• 1Y: 43.33%
• 3Y*: 54.76%
• 5Y*: 10.76%
• 10Y*: -5.59%

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%

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

GAU vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAU Galiano Gold Inc.	-15.02%	105.69%	30.86%	80.75%	-25.69%	-38.07%	18.95%	48.76%	-9.56%	-76.92%
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 GAU and GLD is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008	0.49

The correlation between GAU and GLD shifts across timeframes, from 0.48 (10 years) to 0.64 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GAU vs. GLD — Risk / Return Rank

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

GAU

GAU Risk / Return Rank: 61
GAU Sharpe Ratio Rank: 61
GAU Sortino Ratio Rank: 60
GAU Omega Ratio Rank: 59
GAU Calmar Ratio Rank: 63
GAU Martin Ratio Rank: 61

GLD

GLD Risk / Return Rank: 32
GLD Sharpe Ratio Rank: 32
GLD Sortino Ratio Rank: 29
GLD Omega Ratio Rank: 35
GLD Calmar Ratio Rank: 33
GLD Martin Ratio Rank: 28

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.

GAU vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Galiano Gold Inc. (GAU) 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.

	GAU	GLD	Difference
Sharpe ratio Return per unit of total volatility	0.61	1.21	-0.60
Sortino ratio Return per unit of downside risk	1.25	1.60	-0.35
Omega ratio Gain probability vs. loss probability	1.16	1.24	-0.08
Calmar ratio Return relative to maximum drawdown	1.09	1.68	-0.58
Martin ratio Return relative to average drawdown	2.22	4.15	-1.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAU vs. GLD - Sharpe Ratio Comparison

The current GAU Sharpe Ratio is 0.61, which is lower than the GLD Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of GAU 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

	GAU	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	1.21	-0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	1.01	-0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	0.83	-0.91
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.60	-0.65

Drawdowns

GAU vs. GLD - Drawdown Comparison

The maximum GAU drawdown since its inception was -96.20%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for GAU and GLD.

Drawdown Indicators

	GAU	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-96.20%	-45.56%	-50.64%
Max Drawdown (1Y) Largest decline over 1 year	-39.78%	-19.21%	-20.57%
Max Drawdown (3Y) Largest decline over 3 years	-47.45%	-19.21%	-28.24%
Max Drawdown (5Y) Largest decline over 5 years	-72.09%	-21.03%	-51.06%
Max Drawdown (10Y) Largest decline over 10 years	-92.21%	-22.00%	-70.21%
Current Drawdown Current decline from peak	-77.30%	-17.75%	-59.55%
Average Drawdown Average peak-to-trough decline	-71.28%	-16.16%	-55.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.55%	7.73%	+11.82%

Volatility

GAU vs. GLD - Volatility Comparison

Galiano Gold Inc. (GAU) has a higher volatility of 17.80% compared to SPDR Gold Shares (GLD) at 5.51%. This indicates that GAU'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

	GAU	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.80%	5.51%	+12.29%
Volatility (6M) Calculated over the trailing 6-month period	50.32%	23.16%	+27.16%
Volatility (1Y) Calculated over the trailing 1-year period	71.85%	26.61%	+45.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.12%	18.00%	+44.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.14%	15.95%	+49.19%

Dividends

GAU vs. GLD - Dividend Comparison

Neither GAU nor GLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GAU and GLD in my portfolio?

GAU and GLD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAU or GLD?

GAU has higher volatility (17.80%) compared to GLD (5.51%). In terms of maximum drawdown, GAU dropped -96.20% vs GLD's -45.56%.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (1.21 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.