GLD vs. IGV
GLD (SPDR Gold Shares) and IGV (iShares Expanded Tech-Software Sector ETF) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while IGV is a Technology Equities fund tracking the S&P North American Expanded Technology Software Index. Both are passively managed. Over the past 10 years, GLD returned 12.15%/yr vs 15.87%/yr for IGV. At a 0.04 correlation, their price movements are largely independent. GLD charges 0.40%/yr vs 0.39%/yr for IGV.
Performance
GLD vs. IGV - Performance Comparison
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Returns By Period
In the year-to-date period, GLD achieves a -2.47% return, which is significantly higher than IGV's -14.18% return. Over the past 10 years, GLD has underperformed IGV with an annualized return of 12.15%, while IGV has yielded a comparatively higher 15.87% annualized return.
GLD
- 1D
- 0.06%
- 1M
- -7.37%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
IGV
- 1D
- -0.24%
- 1M
- -1.18%
- YTD
- -14.18%
- 6M
- -16.00%
- 1Y
- -14.65%
- 3Y*
- 10.04%
- 5Y*
- 3.91%
- 10Y*
- 15.87%
GLD vs. IGV - 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% |
IGV iShares Expanded Tech-Software Sector ETF | -14.18% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 52.86% | 34.33% | 12.44% | 42.16% |
Correlation
The correlation between GLD and IGV is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004 | 0.04 |
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Return for Risk
GLD vs. IGV — Risk / Return Rank
GLD
IGV
GLD vs. IGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and iShares Expanded Tech-Software Sector ETF (IGV). 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 | IGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.93 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | -0.42 | +1.40 |
| Martin ratioReturn relative to average drawdown | 2.81 | -0.87 | +3.68 |
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Drawdowns
GLD vs. IGV - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum IGV drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for GLD and IGV.
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Drawdown Indicators
| GLD | IGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -63.45% | +17.89% |
Max Drawdown (1Y)Largest decline over 1 year | -24.46% | -36.61% | +12.15% |
Max Drawdown (3Y)Largest decline over 3 years | -24.46% | -36.61% | +12.15% |
Max Drawdown (5Y)Largest decline over 5 years | -24.46% | -45.85% | +21.39% |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | -45.85% | +21.39% |
Current DrawdownCurrent decline from peak | -22.05% | -23.00% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -14.45% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.49% | 17.55% | -9.06% |
Volatility
GLD vs. IGV - Volatility Comparison
The current volatility for SPDR Gold Shares (GLD) is 7.79%, while iShares Expanded Tech-Software Sector ETF (IGV) has a volatility of 12.57%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLD | IGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 12.57% | -4.78% |
Volatility (6M)Calculated over the trailing 6-month period | 24.10% | 24.80% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.37% | 28.06% | -0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.22% | 27.92% | -9.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 26.39% | -10.31% |
GLD vs. IGV - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is higher than IGV's 0.39% expense ratio.
Dividends
GLD vs. IGV - Dividend Comparison
Neither GLD nor IGV has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IGV iShares Expanded Tech-Software Sector ETF | 0.00% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.35% | 0.02% | 0.16% | 0.09% | 0.82% | 0.22% |
Frequently Asked Questions
GLD and IGV have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGV has higher volatility (12.57%) compared to GLD (7.79%). In terms of maximum drawdown, GLD dropped -45.56% vs IGV's -63.45%.
On 10-year performance, IGV leads with 15.87% vs 12.15% for GLD. On fees, IGV is cheaper at 0.39% per year. On volatility, GLD has been the lower-risk option at 7.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGV has performed better with a 15.87% return vs 12.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGV is cheaper with a 0.39% expense ratio, compared with 0.40% for GLD.
GLD and IGV have nearly identical dividend yields, around 0.00%.
GLD is categorized as Gold, while IGV is Technology Equities. GLD tracks LBMA Gold Price PM, while IGV tracks S&P North American Expanded Technology Software Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for GLD and 0.39% for IGV.
GLD currently has the higher Sharpe Ratio (0.87 vs -0.55), 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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