GLDM vs. IDMO

Last updated Jun 13, 2026

GLDM (SPDR Gold MiniShares Trust) and IDMO (Invesco S&P International Developed Momentum ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while IDMO is a Momentum fund tracking the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. Both are passively managed. Over the past 5 years, GLDM returned 17.41%/yr vs 15.50%/yr for IDMO. At a 0.23 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 0.25%/yr for IDMO.

Performance

GLDM vs. IDMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold MiniShares Trust (GLDM) and Invesco S&P International Developed Momentum ETF (IDMO). 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 IDMO's 8.17% return.

GLDM

• 1D: 0.11%
• 1M: -10.20%
• YTD: -2.40%
• 6M: -2.09%
• 1Y: 24.17%
• 3Y*: 29.27%
• 5Y*: 17.41%
• 10Y*: —

IDMO

• 1D: 1.36%
• 1M: -1.92%
• YTD: 8.17%
• 6M: 10.09%
• 1Y: 23.12%
• 3Y*: 25.21%
• 5Y*: 15.50%
• 10Y*: 12.64%

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

GLDM vs. IDMO - 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%
IDMO Invesco S&P International Developed Momentum ETF	8.17%	42.17%	12.79%	20.16%	-12.03%	14.31%	22.01%	26.09%	-14.10%

Correlation

The correlation between GLDM and IDMO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018	0.23

The correlation between GLDM and IDMO shifts across timeframes, from 0.23 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

GLDM vs. IDMO - Sectors Allocation Comparison

Sectors	GLDM	IDMO
Basic Materials	100.0%	10.2%
Communication Services	-	2.2%
Consumer Cyclical	-	1.4%
Consumer Defensive	-	2.5%
Energy	-	1.9%
Financial Services	-	42.4%
Healthcare	-	1.2%
Industrials	-	22.6%
Real Estate	-	2.0%
Technology	-	5.3%
Utilities	-	8.4%

Return for Risk

GLDM vs. IDMO — 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

IDMO

IDMO Risk / Return Rank: 44
IDMO Sharpe Ratio Rank: 42
IDMO Sortino Ratio Rank: 43
IDMO Omega Ratio Rank: 42
IDMO Calmar Ratio Rank: 43
IDMO Martin Ratio Rank: 51

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. IDMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Invesco S&P International Developed Momentum ETF (IDMO). 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	IDMO	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.30	-0.40
Sortino ratio: Return per unit of downside risk	1.26	1.93	-0.67
Omega ratio: Gain probability vs. loss probability	1.19	1.24	-0.06
Calmar ratio: Return relative to maximum drawdown	1.00	1.89	-0.89
Martin ratio: Return relative to average drawdown	2.87	7.64	-4.77

GLDM vs. IDMO - Sharpe Ratio Comparison

The current GLDM Sharpe Ratio is 0.90, which is lower than the IDMO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of GLDM and IDMO, 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. IDMO - Drawdown Comparison

The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum IDMO drawdown of -39.38%. Use the drawdown chart below to compare losses from any high point for GLDM and IDMO.

Drawdown Indicators

	GLDM	IDMO	Difference
Max Drawdown Largest peak-to-trough decline	-24.35%	-39.38%	+15.03%
Max Drawdown (1Y) Largest decline over 1 year	-24.35%	-12.31%	-12.04%
Max Drawdown (3Y) Largest decline over 3 years	-24.35%	-12.65%	-11.70%
Max Drawdown (5Y) Largest decline over 5 years	-24.35%	-27.07%	+2.72%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.34%	—
Current Drawdown Current decline from peak	-21.96%	-1.92%	-20.04%
Average Drawdown Average peak-to-trough decline	-6.27%	-9.74%	+3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.44%	3.04%	+5.40%

Volatility

GLDM vs. IDMO - Volatility Comparison

SPDR Gold MiniShares Trust (GLDM) and Invesco S&P International Developed Momentum ETF (IDMO) have volatilities of 7.73% and 7.92%, 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.

Volatility by Period

	GLDM	IDMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.73%	7.92%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	23.93%	16.02%	+7.91%
Volatility (1Y) Calculated over the trailing 1-year period	27.15%	17.92%	+9.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.13%	18.03%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	18.18%	-1.20%

GLDM vs. IDMO - Expense Ratio Comparison

GLDM has a 0.10% expense ratio, which is lower than IDMO's 0.25% 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%.

Dividends

GLDM vs. IDMO - Dividend Comparison

GLDM has not paid dividends to shareholders, while IDMO's dividend yield for the trailing twelve months is around 3.52%.

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%
IDMO Invesco S&P International Developed Momentum ETF	3.52%	3.71%	2.24%	2.89%	3.66%	1.81%	1.63%	2.78%	3.27%	3.08%	2.18%	2.52%

Frequently Asked Questions

Can I hold both GLDM and IDMO in my portfolio?

GLDM and IDMO have a correlation of 0.39, 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 IDMO?

IDMO has higher volatility (7.92%) compared to GLDM (7.73%). In terms of maximum drawdown, GLDM dropped -24.35% vs IDMO's -39.38%.

Which ETF is better, GLDM or IDMO?

On 5-year performance, GLDM leads with 17.41% vs 15.50% for IDMO. On fees, GLDM is cheaper at 0.10% per year. On volatility, GLDM has been the lower-risk option at 7.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLDM or IDMO?

Over the 5-year period, GLDM has performed better with a 17.41% return vs 15.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLDM or IDMO?

GLDM is cheaper with a 0.10% expense ratio, compared with 0.25% for IDMO.

Which ETF pays a higher dividend yield, GLDM or IDMO?

IDMO has the higher dividend yield at 3.52%, compared with 0.00% for GLDM.

What is the main difference between GLDM and IDMO?

GLDM is categorized as Gold, while IDMO is Momentum. GLDM tracks LBMA Gold Price PM, while IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.10% for GLDM and 0.25% for IDMO.

Which has better risk-adjusted returns?

IDMO currently has the higher Sharpe Ratio (1.30 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.