GLD vs. XLY

Last updated Jun 12, 2026

GLD (SPDR Gold Shares) and XLY (Consumer Discretionary Select Sector SPDR Fund) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while XLY is a Consumer Discretionary Equities fund tracking the Consumer Discretionary Select Sector Index. Both are passively managed. Over the past 10 years, GLD returned 12.16%/yr vs 12.72%/yr for XLY. At a 0.01 correlation, their price movements are largely independent. GLD charges 0.40%/yr vs 0.13%/yr for XLY.

Performance

GLD vs. XLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold Shares (GLD) and Consumer Discretionary Select Sector SPDR Fund (XLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GLD having a -2.52% return and XLY slightly higher at -2.41%. Both investments have delivered pretty close results over the past 10 years, with GLD having a 12.16% annualized return and XLY not far ahead at 12.72%.

GLD

• 1D: 3.13%
• 1M: -10.77%
• YTD: -2.52%
• 6M: -1.76%
• 1Y: 25.28%
• 3Y*: 28.54%
• 5Y*: 17.06%
• 10Y*: 12.16%

XLY

• 1D: 2.48%
• 1M: -1.68%
• YTD: -2.41%
• 6M: -2.84%
• 1Y: 9.18%
• 3Y*: 13.28%
• 5Y*: 6.94%
• 10Y*: 12.72%

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

GLD vs. XLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLD SPDR Gold Shares	-2.52%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	-1.94%	12.81%
XLY Consumer Discretionary Select Sector SPDR Fund	-2.41%	7.37%	26.51%	39.64%	-36.27%	27.93%	29.63%	28.39%	1.58%	22.82%

Correlation

The correlation between GLD and XLY is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004	0.01

The correlation between GLD and XLY shifts across timeframes, from 0.01 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

GLD vs. XLY - Sectors Allocation Comparison

Sectors	GLD	XLY
Basic Materials	100.0%	-
Communication Services	-	1.3%
Consumer Cyclical	-	97.6%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Technology	-	0.9%
Utilities	-	-

Return for Risk

GLD vs. XLY — Risk / Return Rank

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

GLD

GLD Risk / Return Rank: 29
GLD Sharpe Ratio Rank: 31
GLD Sortino Ratio Rank: 28
GLD Omega Ratio Rank: 34
GLD Calmar Ratio Rank: 26
GLD Martin Ratio Rank: 27

XLY

XLY Risk / Return Rank: 19
XLY Sharpe Ratio Rank: 19
XLY Sortino Ratio Rank: 19
XLY Omega Ratio Rank: 18
XLY Calmar Ratio Rank: 19
XLY Martin Ratio Rank: 20

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. XLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and Consumer Discretionary Select Sector SPDR Fund (XLY). 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	XLY	Difference
Sharpe ratio: Return per unit of total volatility	0.93	0.50	+0.42
Sortino ratio: Return per unit of downside risk	1.29	0.83	+0.46
Omega ratio: Gain probability vs. loss probability	1.19	1.10	+0.10
Calmar ratio: Return relative to maximum drawdown	1.04	0.62	+0.42
Martin ratio: Return relative to average drawdown	3.02	1.89	+1.13

GLD vs. XLY - Sharpe Ratio Comparison

The current GLD Sharpe Ratio is 0.93, which is higher than the XLY Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of GLD and XLY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLD vs. XLY - Drawdown Comparison

The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum XLY drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for GLD and XLY.

Drawdown Indicators

	GLD	XLY	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-59.05%	+13.49%
Max Drawdown (1Y) Largest decline over 1 year	-24.46%	-14.98%	-9.48%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	-26.01%	+1.55%
Max Drawdown (5Y) Largest decline over 5 years	-24.46%	-39.67%	+15.21%
Max Drawdown (10Y) Largest decline over 10 years	-24.46%	-39.67%	+15.21%
Current Drawdown Current decline from peak	-22.10%	-6.41%	-15.69%
Average Drawdown Average peak-to-trough decline	-16.16%	-9.55%	-6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.38%	4.86%	+3.52%

Volatility

GLD vs. XLY - Volatility Comparison

SPDR Gold Shares (GLD) has a higher volatility of 7.77% compared to Consumer Discretionary Select Sector SPDR Fund (XLY) at 6.20%. This indicates that GLD's price experiences larger fluctuations and is considered to be riskier than XLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLD	XLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	6.20%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	24.10%	13.52%	+10.58%
Volatility (1Y) Calculated over the trailing 1-year period	27.37%	18.29%	+9.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.23%	23.84%	-5.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	22.08%	-6.00%

GLD vs. XLY - Expense Ratio Comparison

GLD has a 0.40% expense ratio, which is higher than XLY's 0.13% expense ratio.

Dividends

GLD vs. XLY - Dividend Comparison

GLD has not paid dividends to shareholders, while XLY's dividend yield for the trailing twelve months is around 0.77%.

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%
XLY Consumer Discretionary Select Sector SPDR Fund	0.77%	0.79%	0.72%	0.78%	1.00%	0.53%	0.82%	1.28%	1.34%	1.20%	1.71%	1.43%

Frequently Asked Questions

Can I hold both GLD and XLY in my portfolio?

GLD and XLY have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLD or XLY?

GLD has higher volatility (7.77%) compared to XLY (6.20%). In terms of maximum drawdown, GLD dropped -45.56% vs XLY's -59.05%.

Which ETF is better, GLD or XLY?

On 10-year performance, XLY leads with 12.72% vs 12.16% for GLD. On fees, XLY is cheaper at 0.13% per year. On volatility, XLY has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLD or XLY?

Over the 10-year period, XLY has performed better with a 12.72% return vs 12.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLD or XLY?

XLY is cheaper with a 0.13% expense ratio, compared with 0.40% for GLD.

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

XLY has the higher dividend yield at 0.77%, compared with 0.00% for GLD.

What is the main difference between GLD and XLY?

GLD is categorized as Gold, while XLY is Consumer Discretionary Equities. GLD tracks LBMA Gold Price PM, while XLY tracks Consumer Discretionary Select Sector Index. Their fees differ too: 0.40% for GLD and 0.13% for XLY.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (0.93 vs 0.50), 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.