GLDM vs. WM
GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM, while WM (Waste Management, Inc.) is a stock. Over the past 5 years, GLDM returned 17.41%/yr vs 11.14%/yr for WM. At a 0.05 correlation, their price movements are largely independent.
Performance
GLDM vs. WM - 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 WM's 0.71% return.
GLDM
- 1D
- 0.11%
- 1M
- -7.40%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
GLDM vs. WM - 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% |
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 10.03% |
Correlation
The correlation between GLDM and WM is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.05 |
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Return for Risk
GLDM vs. WM — Risk / Return Rank
GLDM
WM
GLDM vs. WM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Waste Management, Inc. (WM). 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 | WM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.96 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | -0.36 | +1.36 |
| Martin ratioReturn relative to average drawdown | 2.87 | -0.79 | +3.66 |
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Drawdowns
GLDM vs. WM - Drawdown Comparison
The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for GLDM and WM.
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Drawdown Indicators
| GLDM | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.35% | -77.85% | +53.50% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -16.70% | -7.65% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -18.14% | -6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -24.35% | -18.14% | -6.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.07% | — |
Current DrawdownCurrent decline from peak | -21.96% | -10.24% | -11.72% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -17.69% | +11.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 7.58% | +0.86% |
Volatility
GLDM vs. WM - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 7.73% compared to Waste Management, Inc. (WM) at 6.13%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 6.13% | +1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 23.93% | 14.08% | +9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 19.03% | +8.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 18.62% | -0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 19.54% | -2.56% |
Dividends
GLDM vs. WM - Dividend Comparison
GLDM has not paid dividends to shareholders, while WM's dividend yield for the trailing twelve months is around 1.61%.
| 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% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
GLDM and WM have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (7.73%) compared to WM (6.13%). In terms of maximum drawdown, GLDM dropped -24.35% vs WM's -77.85%.
GLDM currently has the higher Sharpe Ratio (0.90 vs -0.32), 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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