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GLDM vs. YAFFX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GLDM vs. YAFFX

Last updated Jun 14, 2026

GLDM (SPDR Gold MiniShares Trust) and YAFFX (AMG Yacktman Focused Fund) are both funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while YAFFX is a Large Cap Value Equities fund managed by AMG. Over the past 5 years, GLDM returned 17.41%/yr vs 9.34%/yr for YAFFX. At a 0.12 correlation, their price movements are largely independent. GLDM charges 0.10%/yr vs 1.25%/yr for YAFFX.

Performance

GLDM vs. YAFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold MiniShares Trust (GLDM) and AMG Yacktman Focused Fund (YAFFX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than YAFFX's 25.77% return.

GLDM

1D
0.11%
1M
-7.40%
YTD
-2.40%
6M
-2.09%
1Y
22.58%
3Y*
29.27%
5Y*
17.41%
10Y*
—

YAFFX

1D
2.63%
1M
1.94%
YTD
25.77%
6M
8.10%
1Y
21.71%
3Y*
16.12%
5Y*
9.34%
10Y*
12.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GLDM vs. YAFFX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
GLDM
SPDR Gold MiniShares Trust		-2.40%64.20%27.08%13.04%-0.47%-4.01%25.10%18.10%1.75%
YAFFX
AMG Yacktman Focused Fund		25.77%3.89%9.30%16.53%-8.20%16.48%17.22%19.21%0.10%

Correlation

The correlation between GLDM and YAFFX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.19

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (All Time)
Calculated using the full available price history since Jun 26, 2018

0.12

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SPDR Gold MiniShares Trust

AMG Yacktman Focused Fund

Often compared with GLDM:
GLDM vs. GLDGLDM vs. IAUGLDM vs. IAUMGLDM vs. GDXGLDM vs. SGOLGLDM vs. VOOGLDM vs. SPY
Often compared with YAFFX:
YAFFX vs. IVEYAFFX vs. AKREXYAFFX vs. BACAXYAFFX vs. CZAYAFFX vs. DSEEXYAFFX vs. VIGYAFFX vs. VTV

Return for Risk

GLDM vs. YAFFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLDM
GLDM Risk / Return Rank: 2727
Overall Rank
GLDM Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GLDM Sortino Ratio Rank: 2525
Sortino Ratio Rank
GLDM Omega Ratio Rank: 3131
Omega Ratio Rank
GLDM Calmar Ratio Rank: 2424
Calmar Ratio Rank
GLDM Martin Ratio Rank: 2525
Martin Ratio Rank
YAFFX
YAFFX Risk / Return Rank: 2222
Overall Rank
YAFFX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
YAFFX Sortino Ratio Rank: 1313
Sortino Ratio Rank
YAFFX Omega Ratio Rank: 3939
Omega Ratio Rank
YAFFX Calmar Ratio Rank: 2020
Calmar Ratio Rank
YAFFX Martin Ratio Rank: 2222
Martin Ratio Rank
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. YAFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and AMG Yacktman Focused Fund (YAFFX). 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.

GLDMYAFFXDifference
Sharpe ratioReturn per unit of total volatility
0.90
0.94

-0.05

Sortino ratioReturn per unit of downside risk
1.26
1.12

+0.14

Omega ratioGain probability vs. loss probability

1.19

1.26

-0.07

Calmar ratioReturn relative to maximum drawdown

1.00

1.26

-0.26

Martin ratioReturn relative to average drawdown

2.87

4.47

-1.60

GLDM vs. YAFFX - Sharpe Ratio Comparison

The current GLDM Sharpe Ratio is 0.90, which is comparable to the YAFFX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of GLDM and YAFFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GLDM vs. YAFFX - Drawdown Comparison

The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum YAFFX drawdown of -43.80%. Use the drawdown chart below to compare losses from any high point for GLDM and YAFFX.

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Drawdown Indicators

GLDMYAFFXDifference

Max Drawdown

Largest peak-to-trough decline

-24.35%

-43.80%

+19.45%

Max Drawdown (1Y)

Largest decline over 1 year

-24.35%

-17.08%

-7.27%

Max Drawdown (3Y)

Largest decline over 3 years

-24.35%

-18.88%

-5.47%

Max Drawdown (5Y)

Largest decline over 5 years

-24.35%

-21.31%

-3.04%

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.62%

—

Current Drawdown

Current decline from peak

-21.96%

-4.28%

-17.68%

Average Drawdown

Average peak-to-trough decline

-6.27%

-6.21%

-0.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.44%

4.77%

+3.67%

Volatility

GLDM vs. YAFFX - Volatility Comparison

SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 7.73% compared to AMG Yacktman Focused Fund (YAFFX) at 7.30%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than YAFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GLDMYAFFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.73%

7.30%

+0.43%

Volatility (6M)

Calculated over the trailing 6-month period

23.93%

22.77%

+1.16%

Volatility (1Y)

Calculated over the trailing 1-year period

27.15%

22.71%

+4.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.13%

18.22%

-0.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.98%

16.59%

+0.39%

GLDM vs. YAFFX - Expense Ratio Comparison

GLDM has a 0.10% expense ratio, which is lower than YAFFX's 1.25% expense ratio.

Dividends

GLDM vs. YAFFX - Dividend Comparison

Neither GLDM nor YAFFX has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
YAFFX
AMG Yacktman Focused Fund		0.00%0.00%18.44%4.42%7.60%4.70%11.87%15.84%22.15%11.82%11.81%24.36%

Frequently Asked Questions

GLDM and YAFFX have a correlation of 0.19, 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 YAFFX (7.30%). In terms of maximum drawdown, GLDM dropped -24.35% vs YAFFX's -43.80%.

YAFFX currently has the higher Sharpe Ratio (0.94 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.

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