GLDM vs. IAK
GLDM (SPDR Gold MiniShares Trust) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 5 years, GLDM returned 17.32%/yr vs 15.99%/yr for IAK. Their -0.03 correlation means they have often moved in opposite directions in the past. GLDM charges 0.10%/yr vs 0.38%/yr for IAK.
Performance
GLDM vs. IAK - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a -6.13% return, which is significantly lower than IAK's 10.11% return.
GLDM
- 1D
- 0.00%
- 1M
- -1.72%
- 6M
- -12.88%
- YTD
- -6.13%
- 1Y
- 20.58%
- 3Y*
- 27.67%
- 5Y*
- 17.32%
- 10Y*
- —
- ALL TIME*
- 15.35%
IAK
- 1D
- 0.03%
- 1M
- -0.03%
- 6M
- 12.56%
- YTD
- 10.11%
- 1Y
- 19.67%
- 3Y*
- 19.67%
- 5Y*
- 15.99%
- 10Y*
- 13.18%
- ALL TIME*
- 7.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $270.09M | $250.20M | $318.17M | |
| $15.27M | $20.59M | $12.29M |
GLDM vs. IAK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | -6.13% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
IAK iShares U.S. Insurance ETF | 10.11% | 9.50% | 28.25% | 11.28% | 11.33% | 26.84% | -2.86% | 25.94% | -6.65% |
Correlation
The correlation between GLDM and IAK is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | -0.03 |
The correlation between GLDM and IAK shifts across timeframes, from -0.11 (1 year) to -0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLDM vs. IAK — Risk / Return Rank
GLDM
IAK
GLDM vs. IAK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and iShares U.S. Insurance ETF (IAK). 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 | IAK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.22 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 2.59 | -1.81 |
| Martin ratioReturn relative to average drawdown | 1.69 | 6.29 | -4.61 |
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Drawdowns
GLDM vs. IAK - Drawdown Comparison
The maximum GLDM drawdown since its inception was -26.27%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for GLDM and IAK.
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Drawdown Indicators
| GLDM | IAK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.27% | -77.38% | +51.11% |
Max Drawdown (1Y)Largest decline over 1 year | -26.27% | -7.62% | -18.65% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -11.58% | -14.69% |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | -14.76% | -11.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.95% | — |
Current DrawdownCurrent decline from peak | -24.94% | -3.20% | -21.74% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -16.01% | +9.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.22% | 3.13% | +9.09% |
Volatility
GLDM vs. IAK - Volatility Comparison
The current volatility for SPDR Gold MiniShares Trust (GLDM) is 6.00%, while iShares U.S. Insurance ETF (IAK) has a volatility of 6.56%. This indicates that GLDM experiences smaller price fluctuations and is considered to be less risky than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | IAK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 6.56% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 20.89% | 12.42% | +8.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.91% | 15.99% | +11.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.40% | 18.13% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 20.92% | -3.83% |
GLDM vs. IAK - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than IAK's 0.38% expense ratio.
Dividends
GLDM vs. IAK - Dividend Comparison
GLDM has not paid dividends to shareholders, while IAK's dividend yield for the trailing twelve months is around 2.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IAK iShares U.S. Insurance ETF | 2.42% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
Frequently Asked Questions
GLDM and IAK have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAK has higher volatility (6.56%) compared to GLDM (6.00%). In terms of maximum drawdown, GLDM dropped -26.27% vs IAK's -77.38%.
On 5-year performance, GLDM leads with 17.32% vs 15.99% for IAK. On fees, GLDM is cheaper at 0.10% per year. On volatility, GLDM has been the lower-risk option at 6.00%. 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 17.32% return vs 15.99%. 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 0.38% for IAK.
IAK has the higher dividend yield at 2.42%, compared with 0.00% for GLDM.
GLDM is categorized as Gold, while IAK is Financials Equities. GLDM tracks LBMA Gold Price PM, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.10% for GLDM and 0.38% for IAK.
IAK currently has the higher Sharpe Ratio (1.24 vs 0.74), 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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