GLDM vs. AVDV

Last updated Jun 9, 2026

GLDM (SPDR Gold MiniShares Trust) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. GLDM is passively managed, while AVDV is actively managed. Over the past 5 years, GLDM returned 17.89%/yr vs 13.33%/yr for AVDV. At a 0.32 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 0.36%/yr for AVDV.

Performance

GLDM vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold MiniShares Trust (GLDM) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLDM achieves a 0.30% return, which is significantly lower than AVDV's 13.22% return.

GLDM

• 1D: 0.25%
• 1M: -8.41%
• YTD: 0.30%
• 6M: 3.19%
• 1Y: 30.55%
• 3Y*: 30.08%
• 5Y*: 17.89%
• 10Y*: —

AVDV

• 1D: 0.26%
• 1M: -2.93%
• YTD: 13.22%
• 6M: 16.29%
• 1Y: 40.16%
• 3Y*: 26.61%
• 5Y*: 13.33%
• 10Y*: —

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

GLDM vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GLDM SPDR Gold MiniShares Trust	0.30%	64.20%	27.08%	13.04%	-0.47%	-4.01%	25.10%	0.80%
AVDV Avantis International Small Cap Value ETF	13.22%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	12.05%

Correlation

The correlation between GLDM and AVDV is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.32

The correlation between GLDM and AVDV shifts across timeframes, from 0.32 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

GLDM vs. AVDV - Sectors Allocation Comparison

Sectors	GLDM	AVDV
Basic Materials	100.0%	22.5%
Communication Services	-	2.0%
Consumer Cyclical	-	14.4%
Consumer Defensive	-	3.4%
Energy	-	10.8%
Financial Services	-	13.7%
Healthcare	-	2.1%
Industrials	-	21.3%
Real Estate	-	1.1%
Technology	-	6.4%
Utilities	-	1.7%

Return for Risk

GLDM vs. AVDV — Risk / Return Rank

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

GLDM

GLDM Risk / Return Rank: 34
GLDM Sharpe Ratio Rank: 35
GLDM Sortino Ratio Rank: 31
GLDM Omega Ratio Rank: 39
GLDM Calmar Ratio Rank: 34
GLDM Martin Ratio Rank: 29

AVDV

AVDV Risk / Return Rank: 79
AVDV Sharpe Ratio Rank: 86
AVDV Sortino Ratio Rank: 83
AVDV Omega Ratio Rank: 84
AVDV Calmar Ratio Rank: 67
AVDV Martin Ratio Rank: 73

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.

GLDM vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Avantis International Small Cap Value ETF (AVDV). 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.

	GLDM	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	1.15	2.54	-1.39
Sortino ratio: Return per unit of downside risk	1.54	3.35	-1.81
Omega ratio: Gain probability vs. loss probability	1.23	1.46	-0.23
Calmar ratio: Return relative to maximum drawdown	1.53	3.06	-1.52
Martin ratio: Return relative to average drawdown	3.85	12.34	-8.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLDM vs. AVDV - Sharpe Ratio Comparison

The current GLDM Sharpe Ratio is 1.15, which is lower than the AVDV Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of GLDM and AVDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GLDM	AVDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	2.54	-1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	0.77	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.78	+0.21

Drawdowns

GLDM vs. AVDV - Drawdown Comparison

The maximum GLDM drawdown since its inception was -21.63%, smaller than the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for GLDM and AVDV.

Drawdown Indicators

	GLDM	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-21.63%	-43.01%	+21.38%
Max Drawdown (1Y) Largest decline over 1 year	-20.00%	-13.19%	-6.81%
Max Drawdown (3Y) Largest decline over 3 years	-20.00%	-14.17%	-5.83%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-28.08%	+7.16%
Current Drawdown Current decline from peak	-19.80%	-3.74%	-16.06%
Average Drawdown Average peak-to-trough decline	-6.24%	-6.77%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.96%	3.26%	+4.70%

Volatility

GLDM vs. AVDV - Volatility Comparison

SPDR Gold MiniShares Trust (GLDM) and Avantis International Small Cap Value ETF (AVDV) have volatilities of 5.65% and 5.49%, 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.

Volatility by Period

	GLDM	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	5.49%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	23.31%	13.49%	+9.82%
Volatility (1Y) Calculated over the trailing 1-year period	26.65%	15.92%	+10.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.98%	17.35%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	19.75%	-2.86%

GLDM vs. AVDV - Expense Ratio Comparison

GLDM has a 0.10% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

GLDM vs. AVDV - Dividend Comparison

GLDM has not paid dividends to shareholders, while AVDV's dividend yield for the trailing twelve months is around 2.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	2.81%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%
GLDM SPDR Gold MiniShares Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GLDM and AVDV in my portfolio?

GLDM and AVDV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLDM or AVDV?

GLDM has higher volatility (5.65%) compared to AVDV (5.49%). In terms of maximum drawdown, GLDM dropped -21.63% vs AVDV's -43.01%.

Which ETF is better, GLDM or AVDV?

On 5-year performance, GLDM leads with 17.89% vs 13.33% for AVDV. On fees, GLDM is cheaper at 0.10% per year. On volatility, AVDV has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLDM or AVDV?

Over the 5-year period, GLDM has performed better with a 17.89% return vs 13.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLDM or AVDV?

GLDM is cheaper with a 0.10% expense ratio, compared with 0.36% for AVDV.

Which ETF pays a higher dividend yield, GLDM or AVDV?

AVDV has the higher dividend yield at 2.81%, compared with 0.00% for GLDM.

What is the main difference between GLDM and AVDV?

GLDM is categorized as Gold, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: State Street and Avantis. Their fees differ too: 0.10% for GLDM and 0.36% for AVDV.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.54 vs 1.15), 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.