GLDN.AX vs. ZPRS.DE
GLDN.AX (Ishares Physical Gold ETF) and ZPRS.DE (SPDR MSCI World Small Cap UCITS ETF) are both exchange-traded funds - GLDN.AX is a Gold fund tracking the LBMA Gold Price PM AUD Index, while ZPRS.DE is a Global Equities fund tracking the MSCI World Small Cap. Both are passively managed. Over the past year, GLDN.AX returned 20.68% vs 20.73% for ZPRS.DE. At a correlation of -0.04, they often move in opposite directions. GLDN.AX charges 0.18%/yr vs 0.45%/yr for ZPRS.DE.
Performance
GLDN.AX vs. ZPRS.DE - Performance Comparison
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Different Trading Currencies
GLDN.AX is traded in AUD, while ZPRS.DE is traded in EUR. To make them comparable, the ZPRS.DE values have been converted to AUD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDN.AX achieves a -3.58% return, which is significantly lower than ZPRS.DE's 6.80% return.
GLDN.AX
- 1D
- 0.67%
- 1M
- -1.25%
- YTD
- -3.58%
- 6M
- -1.13%
- 1Y
- 20.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPRS.DE
- 1D
- 0.88%
- 1M
- 4.23%
- YTD
- 6.80%
- 6M
- 7.27%
- 1Y
- 20.73%
- 3Y*
- 15.09%
- 5Y*
- 8.72%
- 10Y*
- 10.45%
GLDN.AX vs. ZPRS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GLDN.AX Ishares Physical Gold ETF | -3.58% | 55.11% | 38.15% | -2.11% |
ZPRS.DE SPDR MSCI World Small Cap UCITS ETF | 6.80% | 12.61% | 17.47% | 10.60% |
Correlation
The correlation between GLDN.AX and ZPRS.DE is 0.00, 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 | 0.00 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2023 | -0.04 |
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Return for Risk
GLDN.AX vs. ZPRS.DE — Risk / Return Rank
GLDN.AX
ZPRS.DE
GLDN.AX vs. ZPRS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ishares Physical Gold ETF (GLDN.AX) and SPDR MSCI World Small Cap UCITS ETF (ZPRS.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.
| GLDN.AX | ZPRS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 1.97 | -1.01 |
| Martin ratioReturn relative to average drawdown | 2.23 | 6.56 | -4.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GLDN.AX | ZPRS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 1.61 | -0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.62 | 0.71 | +0.91 |
Drawdowns
GLDN.AX vs. ZPRS.DE - Drawdown Comparison
The maximum GLDN.AX drawdown since its inception was -21.43%, smaller than the maximum ZPRS.DE drawdown of -31.97%. Use the drawdown chart below to compare losses from any high point for GLDN.AX and ZPRS.DE.
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Drawdown Indicators
| GLDN.AX | ZPRS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.43% | -31.97% | +10.54% |
Max Drawdown (1Y)Largest decline over 1 year | -21.43% | -10.48% | -10.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.33% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.73% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.97% | — |
Current DrawdownCurrent decline from peak | -20.00% | 0.00% | -20.00% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -5.30% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.22% | 3.15% | +6.07% |
Volatility
GLDN.AX vs. ZPRS.DE - Volatility Comparison
Ishares Physical Gold ETF (GLDN.AX) has a higher volatility of 4.92% compared to SPDR MSCI World Small Cap UCITS ETF (ZPRS.DE) at 3.25%. This indicates that GLDN.AX's price experiences larger fluctuations and is considered to be riskier than ZPRS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDN.AX | ZPRS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 3.25% | +1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 21.11% | 9.02% | +12.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.58% | 12.79% | +11.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.49% | 15.66% | +3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.49% | 15.81% | +3.68% |
GLDN.AX vs. ZPRS.DE - Expense Ratio Comparison
GLDN.AX has a 0.18% expense ratio, which is lower than ZPRS.DE's 0.45% expense ratio.
Dividends
GLDN.AX vs. ZPRS.DE - Dividend Comparison
GLDN.AX's dividend yield for the trailing twelve months is around 0.08%, while ZPRS.DE has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
GLDN.AX Ishares Physical Gold ETF | 0.08% | 0.07% |
ZPRS.DE SPDR MSCI World Small Cap UCITS ETF | 0.00% | 0.00% |
Frequently Asked Questions
GLDN.AX and ZPRS.DE have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDN.AX is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDN.AX is cheaper with a 0.18% expense ratio, compared with 0.45% for ZPRS.DE.
GLDN.AX is categorized as Gold, while ZPRS.DE is Global Equities. GLDN.AX tracks LBMA Gold Price PM AUD Index, while ZPRS.DE tracks MSCI World Small Cap. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for GLDN.AX and 0.45% for ZPRS.DE.
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