GLDM vs. IGLD
GLDM (SPDR Gold MiniShares Trust) and IGLD (FT Cboe Vest Gold Strategy Target Income ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while IGLD is a Precious Metals fund actively managed by First Trust. GLDM is passively managed, while IGLD is actively managed. Over the past 5 years, GLDM returned 17.81%/yr vs 12.45%/yr for IGLD. Their correlation of 0.93 suggests significant overlap in exposure. GLDM charges 0.10%/yr vs 0.85%/yr for IGLD.
Performance
GLDM vs. IGLD - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a 0.06% return, which is significantly higher than IGLD's -0.86% return.
GLDM
- 1D
- -3.67%
- 1M
- -8.00%
- YTD
- 0.06%
- 6M
- 2.68%
- 1Y
- 28.49%
- 3Y*
- 29.91%
- 5Y*
- 17.81%
- 10Y*
- —
IGLD
- 1D
- -3.30%
- 1M
- -7.06%
- YTD
- -0.86%
- 6M
- 1.78%
- 1Y
- 21.53%
- 3Y*
- 21.64%
- 5Y*
- 12.45%
- 10Y*
- —
GLDM vs. IGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.06% | 64.20% | 27.08% | 13.04% | -0.47% | 6.50% |
IGLD FT Cboe Vest Gold Strategy Target Income ETF | -0.86% | 47.46% | 19.36% | 9.24% | -2.34% | 4.30% |
Correlation
The correlation between GLDM and IGLD is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2021 | 0.93 |
The correlation between GLDM and IGLD has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
GLDM vs. IGLD — Risk / Return Rank
GLDM
IGLD
GLDM vs. IGLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD). 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 | IGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.23 | +0.20 |
| Martin ratioReturn relative to average drawdown | 3.63 | 3.28 | +0.36 |
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 | IGLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 0.92 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.82 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.90 | +0.09 |
Drawdowns
GLDM vs. IGLD - Drawdown Comparison
The maximum GLDM drawdown since its inception was -21.63%, which is greater than IGLD's maximum drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for GLDM and IGLD.
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Drawdown Indicators
| GLDM | IGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.63% | -18.59% | -3.04% |
Max Drawdown (1Y)Largest decline over 1 year | -20.00% | -17.56% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -20.00% | -17.56% | -2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -20.92% | -18.59% | -2.33% |
Current DrawdownCurrent decline from peak | -20.00% | -17.28% | -2.72% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -5.26% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.86% | 6.58% | +1.28% |
Volatility
GLDM vs. IGLD - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 5.65% compared to FT Cboe Vest Gold Strategy Target Income ETF (IGLD) at 5.15%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than IGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | IGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 5.15% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 23.31% | 21.28% | +2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.65% | 23.49% | +3.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.97% | 15.24% | +2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 15.06% | +1.84% |
GLDM vs. IGLD - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than IGLD's 0.85% expense ratio.
Dividends
GLDM vs. IGLD - Dividend Comparison
GLDM has not paid dividends to shareholders, while IGLD's dividend yield for the trailing twelve months is around 18.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGLD FT Cboe Vest Gold Strategy Target Income ETF | 18.38% | 9.91% | 20.81% | 7.85% | 4.45% | 2.24% |
Frequently Asked Questions
With a correlation of 0.95, GLDM and IGLD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GLDM has higher volatility (5.65%) compared to IGLD (5.15%). In terms of maximum drawdown, GLDM dropped -21.63% vs IGLD's -18.59%.
On 5-year performance, GLDM leads with 17.81% vs 12.45% for IGLD. On fees, GLDM is cheaper at 0.10% per year. On volatility, IGLD has been the lower-risk option at 5.15%. 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 17.81% return vs 12.45%. 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 0.85% for IGLD.
IGLD has the higher dividend yield at 18.38%, compared with 0.00% for GLDM.
GLDM is categorized as Gold, while IGLD is Precious Metals. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.10% for GLDM and 0.85% for IGLD.
GLDM currently has the higher Sharpe Ratio (1.07 vs 0.92), 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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