GLDM vs. UTES
GLDM (SPDR Gold MiniShares Trust) and UTES (Virtus Reaves Utilities ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while UTES is a Utilities Equities fund actively managed by Virtus. GLDM is passively managed, while UTES is actively managed. Over the past 5 years, GLDM returned 17.31%/yr vs 14.97%/yr for UTES. Their 0.16 correlation means their historical movements had little consistent relationship. GLDM charges 0.10%/yr vs 0.49%/yr for UTES.
Performance
GLDM vs. UTES - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a -6.13% return, which is significantly lower than UTES's -1.07% return.
GLDM
- 1D
- -1.46%
- 1M
- 0.28%
- 6M
- -16.53%
- YTD
- -6.13%
- 1Y
- 23.01%
- 3Y*
- 27.59%
- 5Y*
- 17.31%
- 10Y*
- —
- ALL TIME*
- 15.36%
UTES
- 1D
- -0.03%
- 1M
- -2.93%
- 6M
- 0.59%
- YTD
- -1.07%
- 1Y
- -4.33%
- 3Y*
- 21.10%
- 5Y*
- 14.97%
- 10Y*
- 11.78%
- ALL TIME*
- 13.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $263.44M | $251.25M | $317.77M | |
| $11.16M | $10.04M | $13.72M |
GLDM vs. UTES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | -6.13% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
UTES Virtus Reaves Utilities ETF | -1.07% | 25.71% | 45.35% | -2.46% | 0.80% | 20.74% | -0.30% | 25.48% | 2.97% |
Correlation
The correlation between GLDM and UTES is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.16 |
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Return for Risk
GLDM vs. UTES — Risk / Return Rank
GLDM
UTES
GLDM vs. UTES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Virtus Reaves Utilities ETF (UTES). 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 | UTES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.98 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | -0.31 | +1.19 |
| Martin ratioReturn relative to average drawdown | 1.90 | -0.65 | +2.55 |
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Drawdowns
GLDM vs. UTES - Drawdown Comparison
The maximum GLDM drawdown since its inception was -26.27%, smaller than the maximum UTES drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for GLDM and UTES.
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Drawdown Indicators
| GLDM | UTES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.27% | -35.39% | +9.12% |
Max Drawdown (1Y)Largest decline over 1 year | -26.27% | -13.88% | -12.39% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -17.62% | -8.65% |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | -20.40% | -5.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.39% | — |
Current DrawdownCurrent decline from peak | -24.94% | -10.30% | -14.64% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -5.54% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.12% | 6.72% | +5.40% |
Volatility
GLDM vs. UTES - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 6.35% compared to Virtus Reaves Utilities ETF (UTES) at 5.50%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than UTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | UTES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 5.50% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 23.37% | 16.19% | +7.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.92% | 21.39% | +6.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.39% | 20.74% | -2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 20.26% | -3.16% |
GLDM vs. UTES - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than UTES's 0.49% expense ratio.
Dividends
GLDM vs. UTES - Dividend Comparison
GLDM has not paid dividends to shareholders, while UTES's dividend yield for the trailing twelve months is around 1.53%.
| 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% |
UTES Virtus Reaves Utilities ETF | 1.53% | 1.42% | 1.51% | 2.44% | 2.13% | 1.94% | 2.09% | 1.84% | 2.09% | 3.44% | 3.53% | 0.61% |
Frequently Asked Questions
GLDM and UTES have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (6.35%) compared to UTES (5.50%). In terms of maximum drawdown, GLDM dropped -26.27% vs UTES's -35.39%.
On 5-year performance, GLDM leads with 17.31% vs 14.97% for UTES. On fees, GLDM is cheaper at 0.10% per year. On volatility, UTES has been the lower-risk option at 5.50%. 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 17.31% return vs 14.97%. 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 0.49% for UTES.
UTES has the higher dividend yield at 1.53%, compared with 0.00% for GLDM.
GLDM is categorized as Gold, while UTES is Utilities Equities. They also come from different issuers: State Street and Virtus. Their fees differ too: 0.10% for GLDM and 0.49% for UTES.
GLDM currently has the higher Sharpe Ratio (0.83 vs -0.20), 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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