GLDM vs. SMCI
GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM, while SMCI (Super Micro Computer, Inc.) is a stock. Over the past 5 years, GLDM returned 17.41%/yr vs 52.73%/yr for SMCI. At a 0.06 correlation, their price movements are largely independent.
Performance
GLDM vs. SMCI - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than SMCI's 4.07% return.
GLDM
- 1D
- 0.11%
- 1M
- -7.40%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
SMCI
- 1D
- -4.72%
- 1M
- -1.87%
- YTD
- 4.07%
- 6M
- -5.78%
- 1Y
- -26.71%
- 3Y*
- 7.64%
- 5Y*
- 52.73%
- 10Y*
- 27.77%
GLDM vs. SMCI - 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% |
SMCI Super Micro Computer, Inc. | 4.07% | -3.97% | 7.23% | 246.24% | 86.80% | 38.82% | 31.81% | 74.06% | -42.74% |
Correlation
The correlation between GLDM and SMCI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.06 |
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Return for Risk
GLDM vs. SMCI — Risk / Return Rank
GLDM
SMCI
GLDM vs. SMCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Super Micro Computer, Inc. (SMCI). 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 | SMCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.01 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | -0.45 | +1.45 |
| Martin ratioReturn relative to average drawdown | 2.87 | -0.76 | +3.63 |
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Drawdowns
GLDM vs. SMCI - Drawdown Comparison
The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum SMCI drawdown of -84.84%. Use the drawdown chart below to compare losses from any high point for GLDM and SMCI.
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Drawdown Indicators
| GLDM | SMCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.35% | -84.84% | +60.49% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -66.18% | +41.83% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -84.84% | +60.49% |
Max Drawdown (5Y)Largest decline over 5 years | -24.35% | -84.84% | +60.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.84% | — |
Current DrawdownCurrent decline from peak | -21.96% | -74.36% | +52.40% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -31.98% | +25.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 39.34% | -30.90% |
Volatility
GLDM vs. SMCI - Volatility Comparison
The current volatility for SPDR Gold MiniShares Trust (GLDM) is 7.73%, while Super Micro Computer, Inc. (SMCI) has a volatility of 44.32%. This indicates that GLDM experiences smaller price fluctuations and is considered to be less risky than SMCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | SMCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 44.32% | -36.59% |
Volatility (6M)Calculated over the trailing 6-month period | 23.93% | 76.32% | -52.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 85.20% | -58.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 86.53% | -68.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 71.19% | -54.21% |
Dividends
GLDM vs. SMCI - Dividend Comparison
Neither GLDM nor SMCI has paid dividends to shareholders.
Frequently Asked Questions
GLDM and SMCI 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.
SMCI has higher volatility (44.32%) compared to GLDM (7.73%). In terms of maximum drawdown, GLDM dropped -24.35% vs SMCI's -84.84%.
GLDM currently has the higher Sharpe Ratio (0.90 vs -0.35), 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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