GLDM vs. TEC.TO
GLDM (SPDR Gold MiniShares Trust) and TEC.TO (TD Global Technology Leaders Index ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while TEC.TO is a Technology Equities fund tracking the Solactive Global Technology Leaders Index (CA NTR). Both are passively managed. Over the past 5 years, GLDM returned 17.41%/yr vs 15.37%/yr for TEC.TO. At a 0.03 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 0.39%/yr for TEC.TO.
Performance
GLDM vs. TEC.TO - Performance Comparison
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Different Trading Currencies
GLDM is traded in USD, while TEC.TO is traded in CAD. To make them comparable, the TEC.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than TEC.TO's 10.53% return.
GLDM
- 1D
- 0.11%
- 1M
- -7.40%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
TEC.TO
- 1D
- 0.20%
- 1M
- -2.32%
- YTD
- 10.53%
- 6M
- 11.61%
- 1Y
- 31.73%
- 3Y*
- 26.66%
- 5Y*
- 15.37%
- 10Y*
- —
GLDM vs. TEC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.37% |
TEC.TO TD Global Technology Leaders Index ETF | 10.53% | 20.97% | 34.24% | 57.02% | -36.24% | 25.52% | 51.13% | 16.34% |
Correlation
The correlation between GLDM and TEC.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | 0.03 |
The correlation between GLDM and TEC.TO shifts across timeframes, from 0.02 (5 years) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDM vs. TEC.TO — Risk / Return Rank
GLDM
TEC.TO
GLDM vs. TEC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and TD Global Technology Leaders Index ETF (TEC.TO). 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 | TEC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.77 | -0.77 |
| Martin ratioReturn relative to average drawdown | 2.87 | 5.75 | -2.88 |
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Drawdowns
GLDM vs. TEC.TO - Drawdown Comparison
The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum TEC.TO drawdown of -40.52%. Use the drawdown chart below to compare losses from any high point for GLDM and TEC.TO.
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Drawdown Indicators
| GLDM | TEC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.35% | -40.52% | +16.17% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -17.18% | -7.17% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -24.68% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -24.35% | -40.52% | +16.17% |
Current DrawdownCurrent decline from peak | -21.96% | -6.11% | -15.85% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -9.14% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 5.28% | +3.16% |
Volatility
GLDM vs. TEC.TO - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 7.73% compared to TD Global Technology Leaders Index ETF (TEC.TO) at 7.22%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than TEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | TEC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 7.22% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 23.93% | 14.58% | +9.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 18.55% | +8.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 23.19% | -5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 24.42% | -7.44% |
GLDM vs. TEC.TO - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than TEC.TO's 0.39% expense ratio.
Dividends
GLDM vs. TEC.TO - Dividend Comparison
GLDM has not paid dividends to shareholders, while TEC.TO's dividend yield for the trailing twelve months is around 0.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TEC.TO TD Global Technology Leaders Index ETF | 0.10% | 0.13% | 0.12% | 0.21% | 0.31% | 0.22% | 0.33% | 0.28% |
Frequently Asked Questions
GLDM and TEC.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDM is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.39% for TEC.TO.
GLDM is categorized as Gold, while TEC.TO is Technology Equities. GLDM tracks LBMA Gold Price PM, while TEC.TO tracks Solactive Global Technology Leaders Index (CA NTR). They also come from different issuers: State Street and TD. Their fees differ too: 0.10% for GLDM and 0.39% for TEC.TO.
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