GLTR vs. SPY
GLTR (abrdn Physical Precious Metals Basket Shares ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - GLTR is a Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, GLTR returned 11.62%/yr vs 15.70%/yr for SPY. At a 0.16 correlation, their price movements are largely independent. GLTR charges 0.60%/yr vs 0.09%/yr for SPY.
Performance
GLTR vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, GLTR achieves a -6.33% return, which is significantly lower than SPY's 9.74% return. Over the past 10 years, GLTR has underperformed SPY with an annualized return of 11.62%, while SPY has yielded a comparatively higher 15.70% annualized return.
GLTR
- 1D
- -0.79%
- 1M
- -9.55%
- YTD
- -6.33%
- 6M
- -7.48%
- 1Y
- 38.38%
- 3Y*
- 30.43%
- 5Y*
- 15.09%
- 10Y*
- 11.62%
SPY
- 1D
- -0.31%
- 1M
- 0.09%
- YTD
- 9.74%
- 6M
- 9.27%
- 1Y
- 26.65%
- 3Y*
- 21.27%
- 5Y*
- 13.51%
- 10Y*
- 15.70%
GLTR vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLTR abrdn Physical Precious Metals Basket Shares ETF | -6.33% | 87.25% | 20.63% | 2.01% | -0.25% | -9.60% | 29.52% | 20.96% | -2.85% | 12.94% |
SPY State Street SPDR S&P 500 ETF | 9.74% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between GLTR and SPY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2010 | 0.16 |
The correlation between GLTR and SPY shifts across timeframes, from 0.16 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLTR vs. SPY — Risk / Return Rank
GLTR
SPY
GLTR vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Precious Metals Basket Shares ETF (GLTR) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.39 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 3.01 | -1.88 |
| Martin ratioReturn relative to average drawdown | 2.65 | 13.54 | -10.89 |
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Drawdowns
GLTR vs. SPY - Drawdown Comparison
The maximum GLTR drawdown since its inception was -55.70%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GLTR and SPY.
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Drawdown Indicators
| GLTR | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.70% | -55.19% | -0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -34.09% | -8.88% | -25.21% |
Max Drawdown (3Y)Largest decline over 3 years | -34.09% | -18.76% | -15.33% |
Max Drawdown (5Y)Largest decline over 5 years | -34.09% | -24.50% | -9.59% |
Max Drawdown (10Y)Largest decline over 10 years | -34.09% | -33.72% | -0.37% |
Current DrawdownCurrent decline from peak | -32.48% | -1.75% | -30.73% |
Average DrawdownAverage peak-to-trough decline | -28.83% | -9.04% | -19.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.52% | 1.97% | +12.55% |
Volatility
GLTR vs. SPY - Volatility Comparison
abrdn Physical Precious Metals Basket Shares ETF (GLTR) has a higher volatility of 9.77% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that GLTR's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLTR | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.77% | 4.64% | +5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 36.39% | 9.75% | +26.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.72% | 12.43% | +26.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.85% | 17.14% | +6.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.69% | 17.99% | +2.70% |
GLTR vs. SPY - Expense Ratio Comparison
GLTR has a 0.60% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
GLTR vs. SPY - Dividend Comparison
GLTR has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.
| 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% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
GLTR and SPY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLTR has higher volatility (9.77%) compared to SPY (4.64%). In terms of maximum drawdown, GLTR dropped -55.70% vs SPY's -55.19%.
On 10-year performance, SPY leads with 15.70% vs 11.62% for GLTR. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPY has performed better with a 15.70% return vs 11.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.60% for GLTR.
SPY has the higher dividend yield at 1.01%, compared with 0.00% for GLTR.
GLTR is categorized as Precious Metals, while SPY is S&P 500. GLTR tracks ETFS Physical Precious Metals Basket Index, while SPY tracks S&P 500 Index. They also come from different issuers: abrdn and State Street. Their fees differ too: 0.60% for GLTR and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (2.16 vs 1.00), 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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