GLD vs. GLDW

Last updated Jun 23, 2026

GLD (SPDR Gold Shares) and GLDW (Roundhill Gold WeeklyPay ETF) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while GLDW is a Derivative Income fund actively managed by State Street. GLD is passively managed, while GLDW is actively managed. With a 1.00 correlation, they move nearly in lockstep. GLD charges 0.40%/yr vs 0.99%/yr for GLDW.

Performance

GLD vs. GLDW - Performance Comparison

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

Returns By Period

In the year-to-date period, GLD achieves a -2.96% return, which is significantly higher than GLDW's -6.26% return.

GLD

• 1D: -0.65%
• 1M: -7.06%
• YTD: -2.96%
• 6M: -5.79%
• 1Y: 24.01%
• 3Y*: 29.23%
• 5Y*: 18.28%
• 10Y*: 11.80%

GLDW

• 1D: -0.87%
• 1M: -8.92%
• YTD: -6.26%
• 6M: -9.66%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLD vs. GLDW - Yearly Performance Comparison

	2026 (YTD)	2025
GLD SPDR Gold Shares	-2.96%	9.18%
GLDW Roundhill Gold WeeklyPay ETF	-6.26%	9.36%

Correlation

The correlation between GLD and GLDW is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025	1.00

Return for Risk

GLD vs. GLDW — Risk / Return Rank

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

GLD

GLD Risk / Return Rank: 24
GLD Sharpe Ratio Rank: 25
GLD Sortino Ratio Rank: 23
GLD Omega Ratio Rank: 27
GLD Calmar Ratio Rank: 22
GLD Martin Ratio Rank: 22

GLDW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. GLDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and Roundhill Gold WeeklyPay ETF (GLDW). 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	GLDW	Difference
Sharpe ratio: Return per unit of total volatility	0.88	—	—
Sortino ratio: Return per unit of downside risk	1.24	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	0.99	—	—
Martin ratio: Return relative to average drawdown	2.68	—	—

Drawdowns

GLD vs. GLDW - Drawdown Comparison

The maximum GLD drawdown since its inception was -45.56%, which is greater than GLDW's maximum drawdown of -30.07%. Use the drawdown chart below to compare losses from any high point for GLD and GLDW.

Drawdown Indicators

	GLD	GLDW	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-30.07%	-15.49%
Max Drawdown (1Y) Largest decline over 1 year	-24.46%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.46%	—	—
Current Drawdown Current decline from peak	-22.45%	-28.08%	+5.63%
Average Drawdown Average peak-to-trough decline	-16.16%	-10.18%	-5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.97%	—	—

Volatility

Volatility by Period

	GLD	GLDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.56%	37.20%	-9.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	37.20%	-18.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.10%	37.20%	-21.10%

GLD vs. GLDW - Expense Ratio Comparison

GLD has a 0.40% expense ratio, which is lower than GLDW's 0.99% expense ratio.

Dividends

GLD vs. GLDW - Dividend Comparison

GLD has not paid dividends to shareholders, while GLDW's dividend yield for the trailing twelve months is around 22.64%.

Position	TTM	2025
GLD SPDR Gold Shares	0.00%	0.00%
GLDW Roundhill Gold WeeklyPay ETF	22.64%	3.75%

Frequently Asked Questions

Can I hold both GLD and GLDW in my portfolio?

With a correlation of 1.00, GLD and GLDW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GLD or GLDW?

On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLD or GLDW?

GLD is cheaper with a 0.40% expense ratio, compared with 0.99% for GLDW.

Which ETF pays a higher dividend yield, GLD or GLDW?

GLDW has the higher dividend yield at 22.64%, compared with 0.00% for GLD.

What is the main difference between GLD and GLDW?

GLD is categorized as Gold, while GLDW is Derivative Income. Their fees differ too: 0.40% for GLD and 0.99% for GLDW.