GLD vs. IJS
GLD (SPDR Gold Shares) and IJS (iShares S&P SmallCap 600 Value ETF) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index. Both are passively managed. Over the past 10 years, GLD returned 11.05%/yr vs 10.17%/yr for IJS. Their 0.06 correlation means their historical movements had little consistent relationship. GLD charges 0.40%/yr vs 0.25%/yr for IJS.
Performance
GLD vs. IJS - 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 IJS's 20.25% return. Over the past 10 years, GLD has outperformed IJS with an annualized return of 11.05%, while IJS has yielded a comparatively lower 10.17% annualized return.
GLD
- 1D
- -1.49%
- 1M
- -1.74%
- 6M
- -16.50%
- YTD
- -6.25%
- 1Y
- 20.20%
- 3Y*
- 27.22%
- 5Y*
- 16.95%
- 10Y*
- 11.05%
- ALL TIME*
- 10.28%
IJS
- 1D
- 0.09%
- 1M
- 0.38%
- 6M
- 12.92%
- YTD
- 20.25%
- 1Y
- 39.43%
- 3Y*
- 12.47%
- 5Y*
- 7.91%
- 10Y*
- 10.17%
- ALL TIME*
- 9.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.38B | $2.40B | $2.72B | |
| $28.19M | $29.28M | $50.29M |
GLD vs. IJS - 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% |
IJS iShares S&P SmallCap 600 Value ETF | 20.25% | 6.54% | 7.33% | 14.68% | -11.34% | 30.53% | 2.63% | 24.11% | -12.86% | 11.35% |
Correlation
The correlation between GLD and IJS is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004 | 0.06 |
The correlation between GLD and IJS shifts across timeframes, from 0.04 (10 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLD vs. IJS — Risk / Return Rank
GLD
IJS
GLD vs. IJS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and iShares S&P SmallCap 600 Value ETF (IJS). 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 | IJS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.37 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 3.99 | -3.13 |
| Martin ratioReturn relative to average drawdown | 1.86 | 13.67 | -11.81 |
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Drawdowns
GLD vs. IJS - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum IJS drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for GLD and IJS.
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Drawdown Indicators
| GLD | IJS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -60.11% | +14.55% |
Max Drawdown (1Y)Largest decline over 1 year | -26.40% | -9.28% | -17.12% |
Max Drawdown (3Y)Largest decline over 3 years | -26.40% | -28.65% | +2.25% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -28.65% | +2.25% |
Max Drawdown (10Y)Largest decline over 10 years | -26.40% | -47.68% | +21.28% |
Current DrawdownCurrent decline from peak | -25.08% | -1.56% | -23.52% |
Average DrawdownAverage peak-to-trough decline | -16.21% | -9.84% | -6.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.18% | 2.70% | +9.48% |
Volatility
GLD vs. IJS - Volatility Comparison
SPDR Gold Shares (GLD) has a higher volatility of 6.40% compared to iShares S&P SmallCap 600 Value ETF (IJS) at 3.53%. This indicates that GLD's price experiences larger fluctuations and is considered to be riskier than IJS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLD | IJS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.40% | 3.53% | +2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 23.52% | 11.13% | +12.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.13% | 17.74% | +10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.49% | 21.71% | -3.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.14% | 23.54% | -7.40% |
GLD vs. IJS - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is higher than IJS's 0.25% expense ratio.
Dividends
GLD vs. IJS - Dividend Comparison
GLD has not paid dividends to shareholders, while IJS's dividend yield for the trailing twelve months is around 1.32%.
| 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% |
IJS iShares S&P SmallCap 600 Value ETF | 1.32% | 1.62% | 1.78% | 1.42% | 1.46% | 1.52% | 1.00% | 1.66% | 1.75% | 1.41% | 1.22% | 1.59% |
Frequently Asked Questions
GLD and IJS have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (6.40%) compared to IJS (3.53%). In terms of maximum drawdown, GLD dropped -45.56% vs IJS's -60.11%.
On 10-year performance, GLD leads with 11.05% vs 10.17% for IJS. On fees, IJS is cheaper at 0.25% per year. On volatility, IJS has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.05% return vs 10.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IJS is cheaper with a 0.25% expense ratio, compared with 0.40% for GLD.
IJS has the higher dividend yield at 1.32%, compared with 0.00% for GLD.
GLD is categorized as Gold, while IJS is Small Cap Value Equities. GLD tracks LBMA Gold Price PM, while IJS tracks S&P SmallCap 600 Value Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for GLD and 0.25% for IJS.
IJS currently has the higher Sharpe Ratio (2.09 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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