GLDM vs. SPY
Compare and contrast key facts about SPDR Gold MiniShares Trust (GLDM) and SPDR S&P 500 ETF (SPY).
GLDM and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLDM is a passively managed fund by State Street that tracks the performance of the LBMA Gold PM Price. It was launched on Jun 25, 2018. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both GLDM and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GLDM or SPY.
Key characteristics
| GLDM | SPY | |
|---|---|---|
| YTD Return | 13.18% | 7.64% |
| 1Y Return | 17.24% | 24.41% |
| 3Y Return (Ann) | 9.62% | 8.54% |
| 5Y Return (Ann) | 12.73% | 13.66% |
| Sharpe Ratio | 1.42 | 2.21 |
| Daily Std Dev | 12.23% | 11.53% |
| Max Drawdown | -21.63% | -55.19% |
| Current Drawdown | -2.30% | -2.51% |
Correlation
The correlation between GLDM and SPY is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
GLDM vs. SPY - Performance Comparison
In the year-to-date period, GLDM achieves a 13.18% return, which is significantly higher than SPY's 7.64% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GLDM vs. SPY - Expense Ratio Comparison
GLDM has a 0.18% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
GLDM vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and SPDR S&P 500 ETF (SPY). 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.
Dividends
GLDM vs. SPY - Dividend Comparison
GLDM has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.32%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPY SPDR S&P 500 ETF | 1.32% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
GLDM vs. SPY - Drawdown Comparison
The maximum GLDM drawdown since its inception was -21.63%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GLDM and SPY. For additional features, visit the drawdowns tool.
Volatility
GLDM vs. SPY - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 4.98% compared to SPDR S&P 500 ETF (SPY) at 3.61%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.