GLTR vs. MS

Last updated Jul 21, 2026

GLTR (abrdn Physical Precious Metals Basket Shares ETF) is Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index, while MS (Morgan Stanley) is a stock. Over the past 10 years, GLTR returned 10.23%/yr vs 25.48%/yr for MS. At a 0.07 correlation, their price movements are largely independent.

Performance

GLTR vs. MS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Precious Metals Basket Shares ETF (GLTR) and Morgan Stanley (MS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLTR achieves a -13.15% return, which is significantly lower than MS's 20.12% return. Over the past 10 years, GLTR has underperformed MS with an annualized return of 10.23%, while MS has yielded a comparatively higher 25.48% annualized return.

GLTR

• 1D: 0.02%
• 1M: -8.02%
• 6M: -23.51%
• YTD: -13.15%
• 1Y: 25.28%
• 3Y*: 25.50%
• 5Y*: 13.25%
• 10Y*: 10.23%
• ALL TIME*: 5.60%

MS

• 1D: -2.12%
• 1M: -5.48%
• 6M: 12.77%
• YTD: 20.12%
• 1Y: 53.40%
• 3Y*: 35.16%
• 5Y*: 20.96%
• 10Y*: 25.48%
• ALL TIME*: 13.01%

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

GLTR vs. MS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLTR abrdn Physical Precious Metals Basket Shares ETF	-13.15%	87.25%	20.63%	2.01%	-0.25%	-9.60%	29.52%	20.96%	-2.85%	12.94%
MS Morgan Stanley	20.12%	45.16%	39.73%	13.93%	-10.34%	46.65%	38.09%	32.67%	-22.76%	26.61%

Correlation

The correlation between GLTR and MS is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Oct 22, 2010	0.07

Over the past year, GLTR and MS have become more correlated (0.28) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

GLTR vs. MS — Risk / Return Rank

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

GLTR

GLTR Risk / Return Rank: 23
GLTR Sharpe Ratio Rank: 24
GLTR Sortino Ratio Rank: 23
GLTR Omega Ratio Rank: 28
GLTR Calmar Ratio Rank: 21
GLTR Martin Ratio Rank: 19

MS

MS Risk / Return Rank: 88
MS Sharpe Ratio Rank: 92
MS Sortino Ratio Rank: 88
MS Omega Ratio Rank: 88
MS Calmar Ratio Rank: 86
MS Martin Ratio Rank: 89

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.

GLTR vs. MS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Precious Metals Basket Shares ETF (GLTR) and Morgan Stanley (MS). 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.

	GLTR	MS	Difference
Sharpe ratio: Return per unit of total volatility	0.65	1.98	-1.33
Sortino ratio: Return per unit of downside risk	1.00	2.55	-1.55
Omega ratio: Gain probability vs. loss probability	1.15	1.34	-0.18
Calmar ratio: Return relative to maximum drawdown	0.67	2.85	-2.18
Martin ratio: Return relative to average drawdown	1.44	9.21	-7.76

GLTR vs. MS - Sharpe Ratio Comparison

The current GLTR Sharpe Ratio is 0.65, which is lower than the MS Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of GLTR and MS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLTR vs. MS - Drawdown Comparison

The maximum GLTR drawdown since its inception was -55.70%, smaller than the maximum MS drawdown of -88.12%. Use the drawdown chart below to compare losses from any high point for GLTR and MS.

Drawdown Indicators

	GLTR	MS	Difference
Max Drawdown Largest peak-to-trough decline	-55.70%	-88.12%	+32.42%
Max Drawdown (1Y) Largest decline over 1 year	-37.87%	-18.83%	-19.04%
Max Drawdown (3Y) Largest decline over 3 years	-37.87%	-29.24%	-8.63%
Max Drawdown (5Y) Largest decline over 5 years	-37.87%	-32.38%	-5.49%
Max Drawdown (10Y) Largest decline over 10 years	-37.87%	-51.33%	+13.46%
Current Drawdown Current decline from peak	-37.40%	-7.71%	-29.69%
Average Drawdown Average peak-to-trough decline	-28.86%	-33.60%	+4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.58%	5.82%	+11.76%

Volatility

GLTR vs. MS - Volatility Comparison

The current volatility for abrdn Physical Precious Metals Basket Shares ETF (GLTR) is 8.35%, while Morgan Stanley (MS) has a volatility of 9.63%. This indicates that GLTR experiences smaller price fluctuations and is considered to be less risky than MS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLTR	MS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.35%	9.63%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	35.21%	22.21%	+13.00%
Volatility (1Y) Calculated over the trailing 1-year period	39.43%	27.22%	+12.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.10%	28.76%	-4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.77%	31.32%	-10.55%

Dividends

GLTR vs. MS - Dividend Comparison

GLTR has not paid dividends to shareholders, while MS's dividend yield for the trailing twelve months is around 1.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLTR abrdn Physical Precious Metals Basket Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MS Morgan Stanley	1.90%	2.17%	2.82%	3.49%	3.47%	2.14%	2.04%	2.54%	2.77%	1.72%	1.66%	1.73%

Frequently Asked Questions

Can I hold both GLTR and MS in my portfolio?

GLTR and MS have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLTR or MS?

MS has higher volatility (9.63%) compared to GLTR (8.35%). In terms of maximum drawdown, GLTR dropped -55.70% vs MS's -88.12%.

Which has better risk-adjusted returns?

MS currently has the higher Sharpe Ratio (1.98 vs 0.65), 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.