GLDM vs. VSIAX

Last updated Jun 13, 2026

GLDM (SPDR Gold MiniShares Trust) and VSIAX (Vanguard Small-Cap Value Index Fund Admiral Shares) are both funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while VSIAX is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 5 years, GLDM returned 17.41%/yr vs 8.17%/yr for VSIAX. At a 0.07 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 0.07%/yr for VSIAX.

Performance

GLDM vs. VSIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold MiniShares Trust (GLDM) and Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than VSIAX's 13.57% return.

GLDM

• 1D: 0.11%
• 1M: -10.20%
• YTD: -2.40%
• 6M: -2.09%
• 1Y: 24.17%
• 3Y*: 29.27%
• 5Y*: 17.41%
• 10Y*: —

VSIAX

• 1D: 2.03%
• 1M: 4.01%
• YTD: 13.57%
• 6M: 11.91%
• 1Y: 26.77%
• 3Y*: 16.20%
• 5Y*: 8.17%
• 10Y*: 10.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GLDM vs. VSIAX - 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%
VSIAX Vanguard Small-Cap Value Index Fund Admiral Shares	13.57%	9.09%	11.34%	17.06%	-9.31%	28.10%	5.80%	22.76%	-15.47%

Correlation

The correlation between GLDM and VSIAX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018	0.07

The correlation between GLDM and VSIAX shifts across timeframes, from 0.07 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

GLDM vs. VSIAX - Sectors Allocation Comparison

Sectors	GLDM	VSIAX
Basic Materials	100.0%	6.3%
Communication Services	-	2.5%
Consumer Cyclical	-	12.4%
Consumer Defensive	-	4.0%
Energy	-	5.2%
Financial Services	-	17.6%
Healthcare	-	7.9%
Industrials	-	18.1%
Real Estate	-	10.1%
Technology	-	10.6%
Utilities	-	4.8%

Return for Risk

GLDM vs. VSIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLDM

GLDM Risk / Return Rank: 27
GLDM Sharpe Ratio Rank: 28
GLDM Sortino Ratio Rank: 25
GLDM Omega Ratio Rank: 31
GLDM Calmar Ratio Rank: 24
GLDM Martin Ratio Rank: 25

VSIAX

VSIAX Risk / Return Rank: 64
VSIAX Sharpe Ratio Rank: 58
VSIAX Sortino Ratio Rank: 63
VSIAX Omega Ratio Rank: 50
VSIAX Calmar Ratio Rank: 80
VSIAX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLDM vs. VSIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX). 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	VSIAX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.74	-0.85
Sortino ratio: Return per unit of downside risk	1.26	2.57	-1.31
Omega ratio: Gain probability vs. loss probability	1.19	1.30	-0.11
Calmar ratio: Return relative to maximum drawdown	1.00	3.02	-2.02
Martin ratio: Return relative to average drawdown	2.87	10.71	-7.84

GLDM vs. VSIAX - Sharpe Ratio Comparison

The current GLDM Sharpe Ratio is 0.90, which is lower than the VSIAX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of GLDM and VSIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLDM vs. VSIAX - Drawdown Comparison

The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum VSIAX drawdown of -45.39%. Use the drawdown chart below to compare losses from any high point for GLDM and VSIAX.

Drawdown Indicators

	GLDM	VSIAX	Difference
Max Drawdown Largest peak-to-trough decline	-24.35%	-45.39%	+21.04%
Max Drawdown (1Y) Largest decline over 1 year	-24.35%	-8.87%	-15.48%
Max Drawdown (3Y) Largest decline over 3 years	-24.35%	-24.09%	-0.26%
Max Drawdown (5Y) Largest decline over 5 years	-24.35%	-24.09%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.39%	—
Current Drawdown Current decline from peak	-21.96%	0.00%	-21.96%
Average Drawdown Average peak-to-trough decline	-6.27%	-5.48%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.44%	2.50%	+5.94%

Volatility

GLDM vs. VSIAX - Volatility Comparison

SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 7.73% compared to Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX) at 4.44%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than VSIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDM	VSIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.73%	4.44%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	23.93%	10.78%	+13.15%
Volatility (1Y) Calculated over the trailing 1-year period	27.15%	15.38%	+11.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.13%	19.80%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	22.46%	-5.48%

GLDM vs. VSIAX - Expense Ratio Comparison

GLDM has a 0.10% expense ratio, which is higher than VSIAX's 0.07% 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%.

Dividends

GLDM vs. VSIAX - Dividend Comparison

GLDM has not paid dividends to shareholders, while VSIAX's dividend yield for the trailing twelve months is around 1.73%.

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%
VSIAX Vanguard Small-Cap Value Index Fund Admiral Shares	1.73%	1.95%	1.98%	2.10%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both GLDM and VSIAX in my portfolio?

GLDM and VSIAX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLDM or VSIAX?

GLDM has higher volatility (7.73%) compared to VSIAX (4.44%). In terms of maximum drawdown, GLDM dropped -24.35% vs VSIAX's -45.39%.

Which has better risk-adjusted returns?

VSIAX currently has the higher Sharpe Ratio (1.74 vs 0.90), 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.