GLD vs. BG
GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM, while BG (Bunge Limited) is a stock. Over the past 10 years, GLD returned 11.05%/yr vs 8.51%/yr for BG. Their 0.09 correlation means their historical movements had little consistent relationship.
Performance
GLD vs. BG - Performance Comparison
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Returns By Period
In the year-to-date period, GLD achieves a -6.25% return, which is significantly lower than BG's 20.66% return. Over the past 10 years, GLD has outperformed BG with an annualized return of 11.05%, while BG has yielded a comparatively lower 8.51% annualized return.
GLD
- 1D
- -1.49%
- 1M
- 0.25%
- 6M
- -16.50%
- YTD
- -6.25%
- 1Y
- 22.64%
- 3Y*
- 27.22%
- 5Y*
- 16.95%
- 10Y*
- 11.05%
- ALL TIME*
- 10.28%
BG
- 1D
- 1.10%
- 1M
- 1.28%
- 6M
- -5.62%
- YTD
- 20.66%
- 1Y
- 36.94%
- 3Y*
- 2.24%
- 5Y*
- 9.51%
- 10Y*
- 8.51%
- ALL TIME*
- 10.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $168.20M | $156.93M | $196.43M | |
| $2.38B | $2.40B | $2.72B |
GLD vs. BG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | -6.25% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
BG Bunge Limited | 20.66% | 18.56% | -20.74% | 3.79% | 9.28% | 46.77% | 18.92% | 11.77% | -17.99% | -4.76% |
Correlation
The correlation between GLD and BG is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004 | 0.09 |
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Return for Risk
GLD vs. BG — Risk / Return Rank
GLD
BG
GLD vs. BG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and Bunge Limited (BG). 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 | BG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.22 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 1.84 | -0.98 |
| Martin ratioReturn relative to average drawdown | 1.86 | 5.72 | -3.86 |
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Drawdowns
GLD vs. BG - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum BG drawdown of -77.34%. Use the drawdown chart below to compare losses from any high point for GLD and BG.
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Drawdown Indicators
| GLD | BG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -77.34% | +31.78% |
Max Drawdown (1Y)Largest decline over 1 year | -26.40% | -20.18% | -6.22% |
Max Drawdown (3Y)Largest decline over 3 years | -26.40% | -38.82% | +12.42% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -41.49% | +15.09% |
Max Drawdown (10Y)Largest decline over 10 years | -26.40% | -60.49% | +34.09% |
Current DrawdownCurrent decline from peak | -25.08% | -19.16% | -5.92% |
Average DrawdownAverage peak-to-trough decline | -16.21% | -28.79% | +12.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.18% | 6.47% | +5.71% |
Volatility
GLD vs. BG - Volatility Comparison
The current volatility for SPDR Gold Shares (GLD) is 6.40%, while Bunge Limited (BG) has a volatility of 12.25%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky than BG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLD | BG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.40% | 12.25% | -5.85% |
Volatility (6M)Calculated over the trailing 6-month period | 23.52% | 22.14% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.13% | 31.79% | -3.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.49% | 29.58% | -11.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.14% | 31.10% | -14.96% |
Dividends
GLD vs. BG - Dividend Comparison
GLD has not paid dividends to shareholders, while BG's dividend yield for the trailing twelve months is around 2.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BG Bunge Limited | 2.65% | 3.12% | 3.48% | 2.55% | 2.31% | 2.76% | 3.05% | 3.48% | 3.59% | 2.62% | 2.21% | 2.11% |
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
GLD and BG have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BG has higher volatility (12.25%) compared to GLD (6.40%). In terms of maximum drawdown, GLD dropped -45.56% vs BG's -77.34%.
BG currently has the higher Sharpe Ratio (1.17 vs 0.81), 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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