GLDU.TO vs. GLD

Last updated Jun 4, 2026

GLDU.TO (BetaPro Gold Bullion 2x Daily Bull ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - GLDU.TO is a Leveraged Commodities fund tracking the Solactive Gold Front Month MD Rolling Futures Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, GLDU.TO returned 15.30%/yr vs 13.94%/yr for GLD. A 0.80 correlation means they provide meaningful diversification when combined. GLDU.TO charges 1.15%/yr vs 0.40%/yr for GLD.

Performance

GLDU.TO vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro Gold Bullion 2x Daily Bull ETF (GLDU.TO) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GLDU.TO is traded in CAD, while GLD is traded in USD. To make them comparable, the GLD values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLDU.TO achieves a -3.92% return, which is significantly lower than GLD's 4.23% return. Over the past 10 years, GLDU.TO has outperformed GLD with an annualized return of 15.30%, while GLD has yielded a comparatively lower 13.94% annualized return.

GLDU.TO

• 1D: -1.97%
• 1M: -4.19%
• YTD: -3.92%
• 6M: -0.30%
• 1Y: 45.28%
• 3Y*: 46.94%
• 5Y*: 23.38%
• 10Y*: 15.30%

GLD

• 1D: -0.58%
• 1M: 0.31%
• YTD: 4.23%
• 6M: 5.02%
• 1Y: 33.74%
• 3Y*: 32.62%
• 5Y*: 21.53%
• 10Y*: 13.94%

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

GLDU.TO vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLDU.TO BetaPro Gold Bullion 2x Daily Bull ETF	-3.92%	128.66%	42.19%	13.27%	-9.80%	-14.02%	35.05%	29.13%	-10.69%	19.42%
GLD SPDR Gold Shares	4.23%	56.17%	37.54%	10.21%	6.30%	-5.02%	22.71%	12.06%	6.38%	5.63%

Correlation

The correlation between GLDU.TO and GLD is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009	0.80

The correlation between GLDU.TO and GLD shifts across timeframes, from 0.80 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.

GLDU.TO vs. GLD - Sectors Allocation Comparison

Sectors	GLDU.TO	GLD
Real Estate	29.6%	-
Basic Materials	-	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GLDU.TO vs. GLD — Risk / Return Rank

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

GLDU.TO

GLDU.TO Risk / Return Rank: 25
GLDU.TO Sharpe Ratio Rank: 25
GLDU.TO Sortino Ratio Rank: 25
GLDU.TO Omega Ratio Rank: 30
GLDU.TO Calmar Ratio Rank: 26
GLDU.TO Martin Ratio Rank: 22

GLD

GLD Risk / Return Rank: 32
GLD Sharpe Ratio Rank: 32
GLD Sortino Ratio Rank: 29
GLD Omega Ratio Rank: 35
GLD Calmar Ratio Rank: 33
GLD Martin Ratio Rank: 28

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.

GLDU.TO vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro Gold Bullion 2x Daily Bull ETF (GLDU.TO) and SPDR Gold Shares (GLD). 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.

	GLDU.TO	GLD	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.34	-0.47
Sortino ratio: Return per unit of downside risk	1.32	1.75	-0.42
Omega ratio: Gain probability vs. loss probability	1.20	1.27	-0.07
Calmar ratio: Return relative to maximum drawdown	1.19	1.96	-0.77
Martin ratio: Return relative to average drawdown	2.71	4.81	-2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLDU.TO vs. GLD - Sharpe Ratio Comparison

The current GLDU.TO Sharpe Ratio is 0.87, which is lower than the GLD Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of GLDU.TO and GLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GLDU.TO	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	1.34	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	1.28	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.91	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.65	-0.44

Drawdowns

GLDU.TO vs. GLD - Drawdown Comparison

The maximum GLDU.TO drawdown since its inception was -77.99%, which is greater than GLD's maximum drawdown of -33.56%. Use the drawdown chart below to compare losses from any high point for GLDU.TO and GLD.

Drawdown Indicators

	GLDU.TO	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-77.99%	-33.56%	-44.43%
Max Drawdown (1Y) Largest decline over 1 year	-38.13%	-17.28%	-20.85%
Max Drawdown (3Y) Largest decline over 3 years	-38.13%	-17.28%	-20.85%
Max Drawdown (5Y) Largest decline over 5 years	-41.18%	-17.47%	-23.71%
Max Drawdown (10Y) Largest decline over 10 years	-49.01%	-22.85%	-26.16%
Current Drawdown Current decline from peak	-37.49%	-15.45%	-22.04%
Average Drawdown Average peak-to-trough decline	-48.85%	-11.64%	-37.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.74%	7.04%	+9.70%

Volatility

GLDU.TO vs. GLD - Volatility Comparison

BetaPro Gold Bullion 2x Daily Bull ETF (GLDU.TO) has a higher volatility of 11.57% compared to SPDR Gold Shares (GLD) at 5.37%. This indicates that GLDU.TO's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDU.TO	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.57%	5.37%	+6.20%
Volatility (6M) Calculated over the trailing 6-month period	46.17%	21.82%	+24.35%
Volatility (1Y) Calculated over the trailing 1-year period	52.60%	25.39%	+27.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.36%	16.86%	+19.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.53%	15.40%	+17.13%

GLDU.TO vs. GLD - Expense Ratio Comparison

GLDU.TO has a 1.15% expense ratio, which is higher than GLD's 0.40% expense ratio.

Dividends

GLDU.TO vs. GLD - Dividend Comparison

Neither GLDU.TO nor GLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLDU.TO and GLD in my portfolio?

With a correlation of 0.93, GLDU.TO and GLD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GLDU.TO or GLD?

On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDU.TO or GLD?

GLD is cheaper with a 0.40% expense ratio, compared with 1.15% for GLDU.TO.

What is the main difference between GLDU.TO and GLD?

GLDU.TO is categorized as Leveraged Commodities, while GLD is Gold. GLDU.TO tracks Solactive Gold Front Month MD Rolling Futures Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: Global X and State Street. Their fees differ too: 1.15% for GLDU.TO and 0.40% for GLD.