GLDM vs. DXJ
GLDM (SPDR Gold MiniShares Trust) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 5 years, GLDM returned 17.41%/yr vs 26.01%/yr for DXJ. At a correlation of -0.02, they often move in opposite directions. GLDM charges 0.10%/yr vs 0.48%/yr for DXJ.
Performance
GLDM vs. DXJ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than DXJ's 18.74% return.
GLDM
- 1D
- 0.11%
- 1M
- -9.52%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
DXJ
- 1D
- 0.74%
- 1M
- -0.37%
- YTD
- 18.74%
- 6M
- 19.84%
- 1Y
- 54.41%
- 3Y*
- 30.91%
- 5Y*
- 26.01%
- 10Y*
- 18.72%
GLDM vs. DXJ - 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% |
DXJ WisdomTree Japan Hedged Equity Fund | 18.74% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -13.09% |
Correlation
The correlation between GLDM and DXJ is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | -0.02 |
The correlation between GLDM and DXJ shifts across timeframes, from -0.02 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLDM vs. DXJ — Risk / Return Rank
GLDM
DXJ
GLDM vs. DXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and WisdomTree Japan Hedged Equity Fund (DXJ). 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 | DXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.54 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 4.88 | -3.89 |
| Martin ratioReturn relative to average drawdown | 2.87 | 18.93 | -16.06 |
Loading charts...
Drawdowns
GLDM vs. DXJ - Drawdown Comparison
The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for GLDM and DXJ.
Loading charts...
Drawdown Indicators
| GLDM | DXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.35% | -49.63% | +25.28% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -10.98% | -13.37% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -22.19% | -2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -24.35% | -22.19% | -2.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.14% | — |
Current DrawdownCurrent decline from peak | -21.96% | -1.34% | -20.62% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -14.32% | +8.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 2.83% | +5.61% |
Volatility
GLDM vs. DXJ - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 7.73% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 4.64%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLDM | DXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 4.64% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 23.93% | 13.56% | +10.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 17.73% | +9.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 19.02% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 20.17% | -3.19% |
GLDM vs. DXJ - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than DXJ's 0.48% expense ratio.
Dividends
GLDM vs. DXJ - Dividend Comparison
GLDM has not paid dividends to shareholders, while DXJ's dividend yield for the trailing twelve months is around 1.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXJ WisdomTree Japan Hedged Equity Fund | 1.09% | 1.29% | 3.48% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% |
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 DXJ have a correlation of 0.20, 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 DXJ (4.64%). In terms of maximum drawdown, GLDM dropped -24.35% vs DXJ's -49.63%.
On 5-year performance, DXJ leads with 26.01% vs 17.41% for GLDM. On fees, GLDM is cheaper at 0.10% per year. On volatility, DXJ has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DXJ has performed better with a 26.01% return vs 17.41%. 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 0.48% for DXJ.
DXJ has the higher dividend yield at 1.09%, compared with 0.00% for GLDM.
GLDM is categorized as Gold, while DXJ is Japan Equities. GLDM tracks LBMA Gold Price PM, while DXJ tracks WisdomTree Japan Hedged Equity Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.10% for GLDM and 0.48% for DXJ.
DXJ currently has the higher Sharpe Ratio (3.02 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.
Find the right allocation for GLDM and DXJ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer