GLDM vs. ESPO
GLDM (SPDR Gold MiniShares Trust) and ESPO (VanEck Vectors Video Gaming and eSports ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while ESPO is a Large Cap Growth Equities fund tracking the MVIS Global Video Gaming and eSports Index. Both are passively managed. Over the past 5 years, GLDM returned 17.41%/yr vs 5.49%/yr for ESPO. At a 0.15 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 0.55%/yr for ESPO.
Performance
GLDM vs. ESPO - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a -2.40% return, which is significantly higher than ESPO's -15.10% return.
GLDM
- 1D
- 0.11%
- 1M
- -9.52%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
ESPO
- 1D
- -0.29%
- 1M
- -2.74%
- YTD
- -15.10%
- 6M
- -16.17%
- 1Y
- -14.01%
- 3Y*
- 16.96%
- 5Y*
- 5.49%
- 10Y*
- —
GLDM vs. ESPO - 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% | 4.74% |
ESPO VanEck Vectors Video Gaming and eSports ETF | -15.10% | 25.79% | 47.61% | 33.64% | -34.71% | -2.13% | 83.93% | 42.36% | -12.49% |
Correlation
The correlation between GLDM and ESPO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.15 |
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Return for Risk
GLDM vs. ESPO — Risk / Return Rank
GLDM
ESPO
GLDM vs. ESPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and VanEck Vectors Video Gaming and eSports ETF (ESPO). 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 | ESPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.88 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | -0.54 | +1.54 |
| Martin ratioReturn relative to average drawdown | 2.87 | -0.94 | +3.81 |
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Drawdowns
GLDM vs. ESPO - Drawdown Comparison
The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum ESPO drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for GLDM and ESPO.
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Drawdown Indicators
| GLDM | ESPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.35% | -50.99% | +26.64% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -27.81% | +3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -27.81% | +3.46% |
Max Drawdown (5Y)Largest decline over 5 years | -24.35% | -48.33% | +23.98% |
Current DrawdownCurrent decline from peak | -21.96% | -27.19% | +5.23% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -15.06% | +8.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 15.95% | -7.51% |
Volatility
GLDM vs. ESPO - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 7.73% compared to VanEck Vectors Video Gaming and eSports ETF (ESPO) at 4.42%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than ESPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | ESPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 4.42% | +3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 23.93% | 14.67% | +9.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 18.83% | +8.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 25.10% | -6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 25.71% | -8.73% |
GLDM vs. ESPO - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than ESPO's 0.55% expense ratio.
Dividends
GLDM vs. ESPO - Dividend Comparison
GLDM has not paid dividends to shareholders, while ESPO's dividend yield for the trailing twelve months is around 1.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Vectors Video Gaming and eSports ETF | 1.47% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLDM and ESPO have a correlation of 0.23, 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 ESPO (4.42%). In terms of maximum drawdown, GLDM dropped -24.35% vs ESPO's -50.99%.
On 5-year performance, GLDM leads with 17.41% vs 5.49% for ESPO. On fees, GLDM is cheaper at 0.10% per year. On volatility, ESPO has been the lower-risk option at 4.42%. 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 5.49%. 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 0.55% for ESPO.
ESPO has the higher dividend yield at 1.47%, compared with 0.00% for GLDM.
GLDM is categorized as Gold, while ESPO is Large Cap Growth Equities. GLDM tracks LBMA Gold Price PM, while ESPO tracks MVIS Global Video Gaming and eSports Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.10% for GLDM and 0.55% for ESPO.
GLDM currently has the higher Sharpe Ratio (0.90 vs -0.80), 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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