GLDM vs. XEON.DE
GLDM (SPDR Gold MiniShares Trust) and XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while XEON.DE is a Money Market fund tracking the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past 5 years, GLDM returned 17.18%/yr vs 1.39%/yr for XEON.DE. At a 0.39 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
GLDM vs. XEON.DE - Performance Comparison
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Different Trading Currencies
GLDM is traded in USD, while XEON.DE is traded in EUR. To make them comparable, the XEON.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDM achieves a -7.15% return, which is significantly lower than XEON.DE's -1.60% return.
GLDM
- 1D
- -0.23%
- 1M
- -5.00%
- 6M
- -12.61%
- YTD
- -7.15%
- 1Y
- 19.54%
- 3Y*
- 26.73%
- 5Y*
- 17.18%
- 10Y*
- —
- ALL TIME*
- 15.27%
XEON.DE
- 1D
- 0.00%
- 1M
- -0.13%
- 6M
- -0.80%
- YTD
- -1.60%
- 1Y
- 0.33%
- 3Y*
- 3.90%
- 5Y*
- 1.39%
- 10Y*
- 1.16%
- ALL TIME*
- -0.69%
GLDM vs. XEON.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | -7.15% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | -1.60% | 15.43% | -2.15% | 6.56% | -5.55% | -8.43% | 9.15% | -2.59% | -2.48% |
Correlation
The correlation between GLDM and XEON.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.39 |
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Return for Risk
GLDM vs. XEON.DE — Risk / Return Rank
GLDM
XEON.DE
GLDM vs. XEON.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE). 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 | XEON.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.01 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 0.07 | +0.68 |
| Martin ratioReturn relative to average drawdown | 1.75 | 0.14 | +1.61 |
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Drawdowns
GLDM vs. XEON.DE - Drawdown Comparison
The maximum GLDM drawdown since its inception was -26.27%, smaller than the maximum XEON.DE drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for GLDM and XEON.DE.
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Drawdown Indicators
| GLDM | XEON.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.27% | -40.00% | +13.73% |
Max Drawdown (1Y)Largest decline over 1 year | -26.27% | -4.95% | -21.32% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -7.52% | -18.75% |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | -19.76% | -6.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.15% | — |
Current DrawdownCurrent decline from peak | -25.76% | -20.50% | -5.26% |
Average DrawdownAverage peak-to-trough decline | -6.48% | -21.76% | +15.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.22% | 2.42% | +8.80% |
Volatility
GLDM vs. XEON.DE - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 6.39% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) at 1.22%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than XEON.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | XEON.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.39% | 1.22% | +5.17% |
Volatility (6M)Calculated over the trailing 6-month period | 24.04% | 4.48% | +19.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.86% | 6.26% | +21.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.32% | 7.61% | +10.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.07% | 7.25% | +9.82% |
GLDM vs. XEON.DE - Expense Ratio Comparison
Both GLDM and XEON.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GLDM vs. XEON.DE - Dividend Comparison
Neither GLDM nor XEON.DE has paid dividends to shareholders.
Frequently Asked Questions
GLDM and XEON.DE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GLDM and XEON.DE have the same expense ratio: 0.10% per year.
GLDM is categorized as Gold, while XEON.DE is Money Market. GLDM tracks LBMA Gold Price PM, while XEON.DE tracks Solactive €STR +8.5 Daily Index. They also come from different issuers: State Street and Xtrackers.
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