GDX vs. GLDM
Compare and contrast key facts about VanEck Vectors Gold Miners ETF (GDX) and SPDR Gold MiniShares Trust (GLDM).
GDX and GLDM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners Index. It was launched on May 22, 2006. GLDM is a passively managed fund by State Street that tracks the performance of the LBMA Gold PM Price. It was launched on Jun 25, 2018. Both GDX and GLDM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GDX or GLDM.
Performance
GDX vs. GLDM - Performance Comparison
Returns By Period
In the year-to-date period, GDX achieves a 21.64% return, which is significantly lower than GLDM's 28.31% return.
GDX
21.64%
-12.73%
6.40%
31.25%
8.49%
7.64%
GLDM
28.31%
-2.62%
11.30%
32.38%
12.51%
N/A
Key characteristics
| GDX | GLDM | |
|---|---|---|
| Sharpe Ratio | 1.07 | 2.30 |
| Sortino Ratio | 1.59 | 3.05 |
| Omega Ratio | 1.19 | 1.40 |
| Calmar Ratio | 0.61 | 4.18 |
| Martin Ratio | 4.32 | 13.57 |
| Ulcer Index | 7.97% | 2.49% |
| Daily Std Dev | 32.18% | 14.74% |
| Max Drawdown | -80.57% | -21.63% |
| Current Drawdown | -36.40% | -4.96% |
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GDX vs. GLDM - Expense Ratio Comparison
GDX has a 0.53% expense ratio, which is higher than GLDM's 0.18% expense ratio.
Correlation
The correlation between GDX and GLDM is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
GDX vs. GLDM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Gold Miners ETF (GDX) 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.
Dividends
GDX vs. GLDM - Dividend Comparison
GDX's dividend yield for the trailing twelve months is around 1.33%, while GLDM has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Vectors Gold Miners ETF | 1.33% | 1.61% | 1.66% | 1.67% | 0.53% | 0.65% | 0.50% | 0.76% | 0.26% | 0.85% | 0.66% | 0.90% |
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% | 0.00% |
Drawdowns
GDX vs. GLDM - Drawdown Comparison
The maximum GDX drawdown since its inception was -80.57%, which is greater than GLDM's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for GDX and GLDM. For additional features, visit the drawdowns tool.
Volatility
GDX vs. GLDM - Volatility Comparison
VanEck Vectors Gold Miners ETF (GDX) has a higher volatility of 10.34% compared to SPDR Gold MiniShares Trust (GLDM) at 5.63%. This indicates that GDX'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.