GLDM vs. FGDL
Compare and contrast key facts about SPDR Gold MiniShares Trust (GLDM) and Franklin Responsibly Sourced Gold ETF (FGDL).
GLDM and FGDL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLDM is a passively managed fund by State Street that tracks the performance of the LBMA Gold PM Price. It was launched on Jun 25, 2018. FGDL is a passively managed fund by Franklin Templeton that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Jun 30, 2022. Both GLDM and FGDL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GLDM vs. FGDL - Performance Comparison
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GLDM vs. FGDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 8.57% | 64.20% | 27.08% | 13.04% | 0.86% |
FGDL Franklin Responsibly Sourced Gold ETF | 7.93% | 64.15% | 27.31% | 12.92% | 0.91% |
Returns By Period
In the year-to-date period, GLDM achieves a 8.57% return, which is significantly higher than FGDL's 7.93% return.
GLDM
- 1D
- 3.77%
- 1M
- -10.99%
- YTD
- 8.57%
- 6M
- 21.24%
- 1Y
- 49.77%
- 3Y*
- 33.33%
- 5Y*
- 21.91%
- 10Y*
- —
FGDL
- 1D
- 3.39%
- 1M
- -11.22%
- YTD
- 7.93%
- 6M
- 20.34%
- 1Y
- 48.63%
- 3Y*
- 33.11%
- 5Y*
- —
- 10Y*
- —
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GLDM vs. FGDL - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than FGDL's 0.15% 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%.
Return for Risk
GLDM vs. FGDL — Risk / Return Rank
GLDM
FGDL
GLDM vs. FGDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Franklin Responsibly Sourced Gold ETF (FGDL). 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 | FGDL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.82 | 1.75 | +0.07 |
Sortino ratioReturn per unit of downside risk | 2.25 | 2.16 | +0.09 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 2.71 | 2.64 | +0.07 |
Martin ratioReturn relative to average drawdown | 10.04 | 9.52 | +0.53 |
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 | FGDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 1.75 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 1.52 | -0.43 |
Correlation
The correlation between GLDM and FGDL is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GLDM vs. FGDL - Dividend Comparison
Neither GLDM nor FGDL has paid dividends to shareholders.
Drawdowns
GLDM vs. FGDL - Drawdown Comparison
The maximum GLDM drawdown since its inception was -21.63%, which is greater than FGDL's maximum drawdown of -19.23%. Use the drawdown chart below to compare losses from any high point for GLDM and FGDL.
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Drawdown Indicators
| GLDM | FGDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.63% | -19.23% | -2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -19.14% | -19.23% | +0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -20.92% | — | — |
Current DrawdownCurrent decline from peak | -13.19% | -13.76% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -6.04% | -3.34% | -2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 5.33% | -0.17% |
Volatility
GLDM vs. FGDL - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) and Franklin Responsibly Sourced Gold ETF (FGDL) have volatilities of 11.01% and 10.75%, 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.
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Volatility by Period
| GLDM | FGDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.01% | 10.75% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 24.07% | 24.37% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.57% | 28.00% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.65% | 18.96% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.77% | 18.96% | -2.19% |