GLD vs. IS3S.DE
GLD (SPDR Gold Shares) and IS3S.DE (iShares Edge MSCI World Value Factor UCITS ETF) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while IS3S.DE is a Global Equities fund tracking the MSCI World Enhanced Value. Both are passively managed. Over the past 10 years, GLD returned 12.15%/yr vs 13.34%/yr for IS3S.DE. At a 0.11 correlation, their price movements are largely independent. GLD charges 0.40%/yr vs 0.30%/yr for IS3S.DE.
Performance
GLD vs. IS3S.DE - Performance Comparison
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Different Trading Currencies
GLD is traded in USD, while IS3S.DE is traded in EUR. To make them comparable, the IS3S.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLD achieves a -2.47% return, which is significantly lower than IS3S.DE's 32.61% return. Over the past 10 years, GLD has underperformed IS3S.DE with an annualized return of 12.15%, while IS3S.DE has yielded a comparatively higher 13.34% annualized return.
GLD
- 1D
- 0.06%
- 1M
- -9.52%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
IS3S.DE
- 1D
- 2.78%
- 1M
- 4.65%
- YTD
- 32.61%
- 6M
- 35.27%
- 1Y
- 63.36%
- 3Y*
- 28.40%
- 5Y*
- 16.11%
- 10Y*
- 13.34%
GLD vs. IS3S.DE - 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% |
IS3S.DE iShares Edge MSCI World Value Factor UCITS ETF | 32.61% | 41.27% | 5.00% | 19.27% | -10.05% | 20.07% | -3.98% | 19.43% | -14.53% | 22.88% |
Correlation
The correlation between GLD and IS3S.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.11 |
The correlation between GLD and IS3S.DE shifts across timeframes, from 0.11 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLD vs. IS3S.DE — Risk / Return Rank
GLD
IS3S.DE
GLD vs. IS3S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and iShares Edge MSCI World Value Factor UCITS ETF (IS3S.DE). 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 | IS3S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.11 | ||
| Sortino ratioReturn per unit of downside risk | -4.16 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.70 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 7.30 | -6.32 |
| Martin ratioReturn relative to average drawdown | 2.81 | 26.46 | -23.65 |
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Drawdowns
GLD vs. IS3S.DE - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, which is greater than IS3S.DE's maximum drawdown of -39.27%. Use the drawdown chart below to compare losses from any high point for GLD and IS3S.DE.
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Drawdown Indicators
| GLD | IS3S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -39.27% | -6.29% |
Max Drawdown (1Y)Largest decline over 1 year | -24.46% | -8.49% | -15.97% |
Max Drawdown (3Y)Largest decline over 3 years | -24.46% | -15.59% | -8.87% |
Max Drawdown (5Y)Largest decline over 5 years | -24.46% | -26.37% | +1.91% |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | -39.27% | +14.81% |
Current DrawdownCurrent decline from peak | -22.05% | -1.73% | -20.32% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -10.71% | -5.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.49% | 2.35% | +6.14% |
Volatility
GLD vs. IS3S.DE - Volatility Comparison
SPDR Gold Shares (GLD) has a higher volatility of 7.79% compared to iShares Edge MSCI World Value Factor UCITS ETF (IS3S.DE) at 6.30%. This indicates that GLD's price experiences larger fluctuations and is considered to be riskier than IS3S.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLD | IS3S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 6.30% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 24.10% | 12.87% | +11.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.37% | 15.56% | +11.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.22% | 15.89% | +2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 17.65% | -1.57% |
GLD vs. IS3S.DE - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is higher than IS3S.DE's 0.30% expense ratio.
Dividends
GLD vs. IS3S.DE - Dividend Comparison
Neither GLD nor IS3S.DE has paid dividends to shareholders.
Frequently Asked Questions
GLD and IS3S.DE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3S.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3S.DE is cheaper with a 0.30% expense ratio, compared with 0.40% for GLD.
GLD is categorized as Gold, while IS3S.DE is Global Equities. GLD tracks LBMA Gold Price PM, while IS3S.DE tracks MSCI World Enhanced Value. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for GLD and 0.30% for IS3S.DE.
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