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 11.27%/yr vs 15.60%/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 -7.24% return, which is significantly higher than IGV's -12.01% return. Over the past 10 years, GLD has underperformed IGV with an annualized return of 11.27%, while IGV has yielded a comparatively higher 15.60% annualized return.
GLD
- 1D
- -0.22%
- 1M
- -5.04%
- 6M
- -12.74%
- YTD
- -7.24%
- 1Y
- 19.20%
- 3Y*
- 26.36%
- 5Y*
- 16.85%
- 10Y*
- 11.27%
- ALL TIME*
- 10.24%
IGV
- 1D
- 0.19%
- 1M
- 4.37%
- 6M
- -5.40%
- YTD
- -12.01%
- 1Y
- -16.26%
- 3Y*
- 9.01%
- 5Y*
- 3.20%
- 10Y*
- 15.60%
- ALL TIME*
- 9.30%
GLD vs. IGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | -7.24% | 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 | -12.01% | 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 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
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 | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.92 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | -0.45 | +1.18 |
| Martin ratioReturn relative to average drawdown | 1.71 | -0.86 | +2.57 |
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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 | -26.40% | -36.61% | +10.21% |
Max Drawdown (3Y)Largest decline over 3 years | -26.40% | -36.61% | +10.21% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -45.85% | +19.45% |
Max Drawdown (10Y)Largest decline over 10 years | -26.40% | -45.85% | +19.45% |
Current DrawdownCurrent decline from peak | -25.87% | -21.05% | -4.82% |
Average DrawdownAverage peak-to-trough decline | -16.19% | -14.48% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.28% | 18.89% | -7.61% |
Volatility
GLD vs. IGV - Volatility Comparison
The current volatility for SPDR Gold Shares (GLD) is 6.38%, while iShares Expanded Tech-Software Sector ETF (IGV) has a volatility of 7.17%. 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 | 6.38% | 7.17% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 24.20% | 25.18% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.06% | 28.69% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 28.08% | -9.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.11% | 26.41% | -10.30% |
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
GLD has not paid dividends to shareholders, while IGV's dividend yield for the trailing twelve months is around 0.02%.
| 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 | 0.02% | 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 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGV has higher volatility (7.17%) compared to GLD (6.38%). In terms of maximum drawdown, GLD dropped -45.56% vs IGV's -63.45%.
On 10-year performance, IGV leads with 15.60% vs 11.27% for GLD. On fees, IGV is cheaper at 0.39% per year. On volatility, GLD has been the lower-risk option at 6.38%. 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 15.60% return vs 11.27%. 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.
IGV has the higher dividend yield at 0.02%, compared with 0.00% for GLD.
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 (0.69 vs -0.57), 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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