GLD vs. BGLD
GLD (SPDR Gold Shares) and BGLD (FT Vest Gold Strategy Quarterly Buffer ETF) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while BGLD is a Defined Outcome fund actively managed by FT Vest. GLD is passively managed, while BGLD is actively managed. Over the past 5 years, GLD returned 18.15%/yr vs 11.20%/yr for BGLD. Their correlation of 0.82 suggests significant overlap in exposure. GLD charges 0.40%/yr vs 0.91%/yr for BGLD.
Performance
GLD vs. BGLD - Performance Comparison
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Returns By Period
In the year-to-date period, GLD achieves a 2.92% return, which is significantly higher than BGLD's 0.32% return.
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%
BGLD
- 1D
- -0.52%
- 1M
- 0.80%
- YTD
- 0.32%
- 6M
- 1.34%
- 1Y
- 12.93%
- 3Y*
- 19.37%
- 5Y*
- 11.20%
- 10Y*
- —
GLD vs. BGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 2.92% | 63.68% | 26.66% | 12.69% | -0.77% | -2.46% |
BGLD FT Vest Gold Strategy Quarterly Buffer ETF | 0.32% | 33.03% | 21.80% | 13.24% | -2.42% | -5.57% |
Correlation
The correlation between GLD and BGLD is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021 | 0.82 |
The correlation between GLD and BGLD shifts across timeframes, from 0.72 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GLD vs. BGLD — Risk / Return Rank
GLD
BGLD
GLD vs. BGLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and FT Vest Gold Strategy Quarterly Buffer ETF (BGLD). 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.
| GLD | BGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.17 | +0.51 |
| Martin ratioReturn relative to average drawdown | 4.15 | 3.72 | +0.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GLD | BGLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 1.09 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.01 | 1.13 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 1.05 | -0.45 |
Drawdowns
GLD vs. BGLD - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, which is greater than BGLD's maximum drawdown of -16.19%. Use the drawdown chart below to compare losses from any high point for GLD and BGLD.
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Drawdown Indicators
| GLD | BGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -16.19% | -29.37% |
Max Drawdown (1Y)Largest decline over 1 year | -19.21% | -11.11% | -8.10% |
Max Drawdown (3Y)Largest decline over 3 years | -19.21% | -11.11% | -8.10% |
Max Drawdown (5Y)Largest decline over 5 years | -21.03% | -15.52% | -5.51% |
Max Drawdown (10Y)Largest decline over 10 years | -22.00% | — | — |
Current DrawdownCurrent decline from peak | -17.75% | -7.22% | -10.53% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -3.64% | -12.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.73% | 3.49% | +4.24% |
Volatility
GLD vs. BGLD - Volatility Comparison
SPDR Gold Shares (GLD) has a higher volatility of 5.51% compared to FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) at 2.20%. This indicates that GLD's price experiences larger fluctuations and is considered to be riskier than BGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLD | BGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 2.20% | +3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 23.16% | 10.04% | +13.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.61% | 11.90% | +14.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.00% | 9.97% | +8.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 9.89% | +6.06% |
GLD vs. BGLD - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is lower than BGLD's 0.91% expense ratio.
Dividends
GLD vs. BGLD - Dividend Comparison
GLD has not paid dividends to shareholders, while BGLD's dividend yield for the trailing twelve months is around 44.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BGLD FT Vest Gold Strategy Quarterly Buffer ETF | 44.18% | 44.32% | 25.04% | 10.49% | 0.40% |
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLD and BGLD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (5.51%) compared to BGLD (2.20%). In terms of maximum drawdown, GLD dropped -45.56% vs BGLD's -16.19%.
On 5-year performance, GLD leads with 18.15% vs 11.20% for BGLD. On fees, GLD is cheaper at 0.40% per year. On volatility, BGLD has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLD has performed better with a 18.15% return vs 11.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.91% for BGLD.
BGLD has the higher dividend yield at 44.18%, compared with 0.00% for GLD.
GLD is categorized as Gold, while BGLD is Defined Outcome. They also come from different issuers: State Street and FT Vest. Their fees differ too: 0.40% for GLD and 0.91% for BGLD.
GLD currently has the higher Sharpe Ratio (1.21 vs 1.09), 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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