GLD vs. GLDM
Compare and contrast key facts about SPDR Gold Shares (GLD) and SPDR Gold MiniShares Trust (GLDM).
GLD and GLDM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004. GLDM is a passively managed fund by State Street that tracks the performance of the LBMA Gold PM Price. It was launched on Jun 25, 2018. Both GLD and GLDM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GLD vs. GLDM - Performance Comparison
Loading graphics...
GLD vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 10.47% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | 1.67% |
GLDM SPDR Gold MiniShares Trust | 10.46% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.84% |
Returns By Period
The year-to-date returns for both stocks are quite close, with GLD having a 10.47% return and GLDM slightly lower at 10.46%.
GLD
- 1D
- 1.75%
- 1M
- -10.65%
- YTD
- 10.47%
- 6M
- 22.97%
- 1Y
- 52.25%
- 3Y*
- 33.69%
- 5Y*
- 22.00%
- 10Y*
- 14.11%
GLDM
- 1D
- 1.74%
- 1M
- -10.65%
- YTD
- 10.46%
- 6M
- 23.17%
- 1Y
- 52.61%
- 3Y*
- 34.09%
- 5Y*
- 22.33%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
GLD vs. GLDM - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Return for Risk
GLD vs. GLDM — Risk / Return Rank
GLD
GLDM
GLD vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and SPDR Gold MiniShares Trust (GLDM). 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.
| GLD | GLDM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.89 | 1.92 | -0.03 |
Sortino ratioReturn per unit of downside risk | 2.31 | 2.35 | -0.04 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.70 | 2.74 | -0.03 |
Martin ratioReturn relative to average drawdown | 9.90 | 10.04 | -0.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| GLD | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 1.92 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.25 | 1.27 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 1.11 | -0.48 |
Correlation
The correlation between GLD and GLDM is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GLD vs. GLDM - Dividend Comparison
Neither GLD nor GLDM has paid dividends to shareholders.
Drawdowns
GLD vs. GLDM - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, which is greater than GLDM's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for GLD and GLDM.
Loading graphics...
Drawdown Indicators
| GLD | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -21.63% | -23.93% |
Max Drawdown (1Y)Largest decline over 1 year | -19.21% | -19.14% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -21.03% | -20.92% | -0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -22.00% | — | — |
Current DrawdownCurrent decline from peak | -11.71% | -11.68% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -16.17% | -6.05% | -10.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.25% | 5.22% | +0.03% |
Volatility
GLD vs. GLDM - Volatility Comparison
SPDR Gold Shares (GLD) and SPDR Gold MiniShares Trust (GLDM) have volatilities of 10.48% and 10.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| GLD | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.48% | 10.44% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 24.34% | 24.12% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.81% | 27.58% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.75% | 17.65% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.88% | 16.78% | -0.90% |