GLDM vs. FSELX

Last updated Jun 14, 2026

GLDM (SPDR Gold MiniShares Trust) and FSELX (Fidelity Select Semiconductors Portfolio) are both funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while FSELX is a Semiconductors fund managed by Fidelity. Over the past 5 years, GLDM returned 17.41%/yr vs 44.40%/yr for FSELX. At a 0.06 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 0.68%/yr for FSELX.

Performance

GLDM vs. FSELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold MiniShares Trust (GLDM) and Fidelity Select Semiconductors Portfolio (FSELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than FSELX's 74.64% return.

GLDM

• 1D: 0.11%
• 1M: -7.40%
• YTD: -2.40%
• 6M: -2.09%
• 1Y: 22.58%
• 3Y*: 29.27%
• 5Y*: 17.41%
• 10Y*: —

FSELX

• 1D: 6.51%
• 1M: 9.39%
• YTD: 74.64%
• 6M: 78.43%
• 1Y: 145.49%
• 3Y*: 63.72%
• 5Y*: 44.40%
• 10Y*: 38.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GLDM vs. FSELX - 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%
FSELX Fidelity Select Semiconductors Portfolio	74.64%	52.17%	49.68%	78.49%	-35.27%	59.16%	44.33%	64.50%	-17.96%

Correlation

The correlation between GLDM and FSELX 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	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018	0.06

The correlation between GLDM and FSELX shifts across timeframes, from 0.06 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GLDM vs. FSELX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLDM

GLDM Risk / Return Rank: 27
GLDM Sharpe Ratio Rank: 28
GLDM Sortino Ratio Rank: 25
GLDM Omega Ratio Rank: 31
GLDM Calmar Ratio Rank: 24
GLDM Martin Ratio Rank: 25

FSELX

FSELX Risk / Return Rank: 95
FSELX Sharpe Ratio Rank: 99
FSELX Sortino Ratio Rank: 92
FSELX Omega Ratio Rank: 89
FSELX Calmar Ratio Rank: 99
FSELX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLDM vs. FSELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Fidelity Select Semiconductors Portfolio (FSELX). 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	FSELX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	4.03	-3.13
Sortino ratio: Return per unit of downside risk	1.26	4.13	-2.87
Omega ratio: Gain probability vs. loss probability	1.19	1.57	-0.38
Calmar ratio: Return relative to maximum drawdown	1.00	9.83	-8.83
Martin ratio: Return relative to average drawdown	2.87	35.64	-32.77

GLDM vs. FSELX - Sharpe Ratio Comparison

The current GLDM Sharpe Ratio is 0.90, which is lower than the FSELX Sharpe Ratio of 4.03. The chart below compares the historical Sharpe Ratios of GLDM and FSELX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLDM vs. FSELX - Drawdown Comparison

The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum FSELX drawdown of -82.54%. Use the drawdown chart below to compare losses from any high point for GLDM and FSELX.

Drawdown Indicators

	GLDM	FSELX	Difference
Max Drawdown Largest peak-to-trough decline	-24.35%	-82.54%	+58.19%
Max Drawdown (1Y) Largest decline over 1 year	-24.35%	-14.38%	-9.97%
Max Drawdown (3Y) Largest decline over 3 years	-24.35%	-36.31%	+11.96%
Max Drawdown (5Y) Largest decline over 5 years	-24.35%	-46.37%	+22.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.37%	—
Current Drawdown Current decline from peak	-21.96%	-6.32%	-15.64%
Average Drawdown Average peak-to-trough decline	-6.27%	-28.68%	+22.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.44%	3.96%	+4.48%

Volatility

GLDM vs. FSELX - Volatility Comparison

The current volatility for SPDR Gold MiniShares Trust (GLDM) is 7.73%, while Fidelity Select Semiconductors Portfolio (FSELX) has a volatility of 17.37%. This indicates that GLDM experiences smaller price fluctuations and is considered to be less risky than FSELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDM	FSELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.73%	17.37%	-9.64%
Volatility (6M) Calculated over the trailing 6-month period	23.93%	28.71%	-4.78%
Volatility (1Y) Calculated over the trailing 1-year period	27.15%	35.11%	-7.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.13%	39.38%	-21.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	35.29%	-18.31%

GLDM vs. FSELX - Expense Ratio Comparison

GLDM has a 0.10% expense ratio, which is lower than FSELX's 0.68% expense ratio.

Dividends

GLDM vs. FSELX - Dividend Comparison

GLDM has not paid dividends to shareholders, while FSELX's dividend yield for the trailing twelve months is around 9.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSELX Fidelity Select Semiconductors Portfolio	9.38%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%
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

Can I hold both GLDM and FSELX in my portfolio?

GLDM and FSELX 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.

Which is riskier, GLDM or FSELX?

FSELX has higher volatility (17.37%) compared to GLDM (7.73%). In terms of maximum drawdown, GLDM dropped -24.35% vs FSELX's -82.54%.

Which has better risk-adjusted returns?

FSELX currently has the higher Sharpe Ratio (4.03 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.