GLDM vs. BTC-USD
GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, GLDM returned 17.89%/yr vs 10.82%/yr for BTC-USD. At a 0.11 correlation, their price movements are largely independent.
Performance
GLDM vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a 0.30% return, which is significantly higher than BTC-USD's -28.54% return.
GLDM
- 1D
- 0.25%
- 1M
- -8.41%
- YTD
- 0.30%
- 6M
- 3.19%
- 1Y
- 30.55%
- 3Y*
- 30.08%
- 5Y*
- 17.89%
- 10Y*
- —
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
GLDM vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.30% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.84% |
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -39.23% |
Correlation
The correlation between GLDM and BTC-USD 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 | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.11 |
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Return for Risk
GLDM vs. BTC-USD — Risk / Return Rank
GLDM
BTC-USD
GLDM vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.86 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | -0.80 | +2.33 |
| Martin ratioReturn relative to average drawdown | 3.85 | -1.42 | +5.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GLDM | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | -0.95 | +2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 0.20 | +0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 1.13 | -0.14 |
Drawdowns
GLDM vs. BTC-USD - Drawdown Comparison
The maximum GLDM drawdown since its inception was -21.63%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for GLDM and BTC-USD.
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Drawdown Indicators
| GLDM | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.63% | -85.30% | +63.67% |
Max Drawdown (1Y)Largest decline over 1 year | -20.00% | -51.21% | +31.21% |
Max Drawdown (3Y)Largest decline over 3 years | -20.00% | -51.21% | +31.21% |
Max Drawdown (5Y)Largest decline over 5 years | -20.92% | -76.67% | +55.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -19.80% | -49.86% | +30.06% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -42.32% | +36.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.96% | 34.46% | -26.50% |
Volatility
GLDM vs. BTC-USD - Volatility Comparison
The current volatility for SPDR Gold MiniShares Trust (GLDM) is 5.65%, while Bitcoin (BTC-USD) has a volatility of 11.59%. This indicates that GLDM experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 11.59% | -5.94% |
Volatility (6M)Calculated over the trailing 6-month period | 23.31% | 34.53% | -11.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.65% | 35.67% | -9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.98% | 44.95% | -26.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.89% | 56.71% | -39.82% |
Frequently Asked Questions
GLDM and BTC-USD 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.
BTC-USD has higher volatility (11.59%) compared to GLDM (5.65%). In terms of maximum drawdown, GLDM dropped -21.63% vs BTC-USD's -85.30%.
GLDM currently has the higher Sharpe Ratio (1.15 vs -0.95), 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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