GLD vs. B

Last updated Jun 13, 2026

GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM, while B (Barrick Mining Corporation) is a stock. Over the past 10 years, GLD returned 12.15%/yr vs 9.32%/yr for B. A 0.70 correlation means they provide meaningful diversification when combined.

Performance

GLD vs. B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold Shares (GLD) and Barrick Mining Corporation (B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLD achieves a -2.47% return, which is significantly higher than B's -6.52% return. Over the past 10 years, GLD has outperformed B with an annualized return of 12.15%, while B has yielded a comparatively lower 9.32% annualized return.

GLD

• 1D: 0.06%
• 1M: -10.21%
• YTD: -2.47%
• 6M: -2.25%
• 1Y: 23.81%
• 3Y*: 28.89%
• 5Y*: 17.08%
• 10Y*: 12.15%

B

• 1D: 2.81%
• 1M: -10.03%
• YTD: -6.52%
• 6M: -5.53%
• 1Y: 96.46%
• 3Y*: 36.83%
• 5Y*: 14.31%
• 10Y*: 9.32%

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

GLD vs. B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLD SPDR Gold Shares	-2.47%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	-1.94%	12.81%
B Barrick Mining Corporation	-6.52%	186.91%	-12.29%	7.86%	-6.81%	-14.75%	24.60%	38.45%	-5.01%	-8.80%

Correlation

The correlation between GLD and B is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004	0.70

The correlation between GLD and B has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.

Return for Risk

GLD vs. B — Risk / Return Rank

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

GLD

GLD Risk / Return Rank: 26
GLD Sharpe Ratio Rank: 27
GLD Sortino Ratio Rank: 25
GLD Omega Ratio Rank: 30
GLD Calmar Ratio Rank: 24
GLD Martin Ratio Rank: 24

B

B Risk / Return Rank: 86
B Sharpe Ratio Rank: 91
B Sortino Ratio Rank: 84
B Omega Ratio Rank: 86
B Calmar Ratio Rank: 86
B Martin Ratio Rank: 85

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.

GLD vs. B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and Barrick Mining Corporation (B). 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.

	GLD	B	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.15	-1.27
Sortino ratio: Return per unit of downside risk	1.24	2.48	-1.24
Omega ratio: Gain probability vs. loss probability	1.18	1.34	-0.16
Calmar ratio: Return relative to maximum drawdown	0.98	3.31	-2.33
Martin ratio: Return relative to average drawdown	2.81	7.95	-5.14

GLD vs. B - Sharpe Ratio Comparison

The current GLD Sharpe Ratio is 0.87, which is lower than the B Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of GLD and B, 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

GLD vs. B - Drawdown Comparison

The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum B drawdown of -88.51%. Use the drawdown chart below to compare losses from any high point for GLD and B.

Drawdown Indicators

	GLD	B	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-88.51%	+42.95%
Max Drawdown (1Y) Largest decline over 1 year	-24.46%	-29.31%	+4.85%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	-29.31%	+4.85%
Max Drawdown (5Y) Largest decline over 5 years	-24.46%	-47.96%	+23.50%
Max Drawdown (10Y) Largest decline over 10 years	-24.46%	-57.13%	+32.67%
Current Drawdown Current decline from peak	-22.05%	-23.16%	+1.11%
Average Drawdown Average peak-to-trough decline	-16.16%	-37.28%	+21.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.49%	12.18%	-3.69%

Volatility

GLD vs. B - Volatility Comparison

The current volatility for SPDR Gold Shares (GLD) is 7.79%, while Barrick Mining Corporation (B) has a volatility of 15.80%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky than B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLD	B	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	15.80%	-8.01%
Volatility (6M) Calculated over the trailing 6-month period	24.10%	35.19%	-11.09%
Volatility (1Y) Calculated over the trailing 1-year period	27.37%	45.31%	-17.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	36.25%	-18.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	36.85%	-20.77%

Dividends

GLD vs. B - Dividend Comparison

GLD has not paid dividends to shareholders, while B's dividend yield for the trailing twelve months is around 2.29%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
B Barrick Mining Corporation	2.29%	1.21%	2.58%	2.21%	3.20%	2.47%	1.82%	0.70%	1.40%	0.83%	0.50%	1.90%
GLD SPDR Gold Shares	0.00%	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 GLD and B in my portfolio?

GLD and B have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLD or B?

B has higher volatility (15.80%) compared to GLD (7.79%). In terms of maximum drawdown, GLD dropped -45.56% vs B's -88.51%.

Which has better risk-adjusted returns?

B currently has the higher Sharpe Ratio (2.15 vs 0.87), 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.