GLDM vs. DIA
GLDM (SPDR Gold MiniShares Trust) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Both are passively managed. Over the past 5 years, GLDM returned 17.41%/yr vs 10.14%/yr for DIA. At a 0.07 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 0.16%/yr for DIA.
Performance
GLDM vs. DIA - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than DIA's 7.27% return.
GLDM
- 1D
- 0.11%
- 1M
- -7.40%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
DIA
- 1D
- 0.73%
- 1M
- 3.57%
- YTD
- 7.27%
- 6M
- 6.43%
- 1Y
- 23.20%
- 3Y*
- 16.29%
- 5Y*
- 10.14%
- 10Y*
- 13.40%
GLDM vs. DIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 7.27% | 14.71% | 14.82% | 16.02% | -7.02% | 20.83% | 9.59% | 24.70% | -2.69% |
Correlation
The correlation between GLDM and DIA is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.07 |
The correlation between GLDM and DIA shifts across timeframes, from 0.07 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDM vs. DIA — Risk / Return Rank
GLDM
DIA
GLDM vs. DIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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.
| GLDM | DIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.30 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 2.16 | -1.17 |
| Martin ratioReturn relative to average drawdown | 2.87 | 8.35 | -5.48 |
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Drawdowns
GLDM vs. DIA - Drawdown Comparison
The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for GLDM and DIA.
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Drawdown Indicators
| GLDM | DIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.35% | -51.87% | +27.52% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -9.76% | -14.59% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -15.95% | -8.40% |
Max Drawdown (5Y)Largest decline over 5 years | -24.35% | -20.76% | -3.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.70% | — |
Current DrawdownCurrent decline from peak | -21.96% | -0.70% | -21.26% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -7.14% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 2.53% | +5.91% |
Volatility
GLDM vs. DIA - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 7.73% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.32%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | DIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 4.32% | +3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 23.93% | 9.78% | +14.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 12.52% | +14.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 14.85% | +3.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 17.56% | -0.58% |
GLDM vs. DIA - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than DIA's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GLDM vs. DIA - Dividend Comparison
GLDM has not paid dividends to shareholders, while DIA's dividend yield for the trailing twelve months is around 1.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 1.37% | 1.43% | 1.61% | 1.81% | 1.91% | 1.58% | 1.87% | 1.85% | 2.24% | 1.97% | 2.26% | 2.33% |
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLDM and DIA have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (7.73%) compared to DIA (4.32%). In terms of maximum drawdown, GLDM dropped -24.35% vs DIA's -51.87%.
On 5-year performance, GLDM leads with 17.41% vs 10.14% for DIA. On fees, GLDM is cheaper at 0.10% per year. On volatility, DIA has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLDM has performed better with a 17.41% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.16% for DIA.
DIA has the higher dividend yield at 1.37%, compared with 0.00% for GLDM.
GLDM is categorized as Gold, while DIA is Large Cap Blend Equities. GLDM tracks LBMA Gold Price PM, while DIA tracks Dow Jones Industrial Average. Their fees differ too: 0.10% for GLDM and 0.16% for DIA.
DIA currently has the higher Sharpe Ratio (1.69 vs 0.90), 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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