GOEX vs. GLD
Compare and contrast key facts about Global X Gold Explorers ETF (GOEX) and SPDR Gold Trust (GLD).
GOEX and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GOEX is a passively managed fund by Global X that tracks the performance of the Solactive Global Gold Explorers & Developers Total Return. It was launched on Nov 3, 2010. GLD is a passively managed fund by State Street that tracks the performance of the Gold Bullion. It was launched on Nov 18, 2004. Both GOEX and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GOEX or GLD.
Key characteristics
| GOEX | GLD | |
|---|---|---|
| YTD Return | 24.18% | 20.99% |
| 1Y Return | 27.01% | 28.48% |
| 3Y Return (Ann) | 3.12% | 10.91% |
| 5Y Return (Ann) | 4.55% | 10.00% |
| 10Y Return (Ann) | 6.09% | 6.65% |
| Sharpe Ratio | 0.79 | 1.98 |
| Daily Std Dev | 33.70% | 14.30% |
| Max Drawdown | -88.83% | -45.56% |
| Current Drawdown | -62.00% | -0.90% |
Correlation
The correlation between GOEX and GLD is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
GOEX vs. GLD - Performance Comparison
In the year-to-date period, GOEX achieves a 24.18% return, which is significantly higher than GLD's 20.99% return. Over the past 10 years, GOEX has underperformed GLD with an annualized return of 6.09%, while GLD has yielded a comparatively higher 6.65% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GOEX vs. GLD - Expense Ratio Comparison
GOEX has a 0.65% expense ratio, which is higher than GLD's 0.40% expense ratio.
Risk-Adjusted Performance
GOEX vs. GLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Gold Explorers ETF (GOEX) and SPDR Gold Trust (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.
Dividends
GOEX vs. GLD - Dividend Comparison
GOEX's dividend yield for the trailing twelve months is around 0.02%, while GLD has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
GOEX Global X Gold Explorers ETF | 0.02% | 0.05% | 1.04% | 2.35% | 2.62% | 1.60% | 0.00% | 0.00% | 38.91% | 11.70% | 0.13% |
GLD SPDR Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GOEX vs. GLD - Drawdown Comparison
The maximum GOEX drawdown since its inception was -88.83%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for GOEX and GLD. For additional features, visit the drawdowns tool.
Volatility
GOEX vs. GLD - Volatility Comparison
Global X Gold Explorers ETF (GOEX) has a higher volatility of 10.48% compared to SPDR Gold Trust (GLD) at 4.29%. This indicates that GOEX'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.