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GOEX vs. GLD
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

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.


-0.50.00.51.00.7

Performance

GOEX vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Gold Explorers ETF (GOEX) and SPDR Gold Trust (GLD). The values are adjusted to include any dividend payments, if applicable.

0.00%10.00%20.00%30.00%JulyAugustSeptemberOctoberNovemberDecember
8.63%
12.28%
GOEX
GLD

Key characteristics

Sharpe Ratio

GOEX:

0.62

GLD:

1.91

Sortino Ratio

GOEX:

1.05

GLD:

2.53

Omega Ratio

GOEX:

1.12

GLD:

1.33

Calmar Ratio

GOEX:

0.29

GLD:

3.54

Martin Ratio

GOEX:

2.41

GLD:

10.08

Ulcer Index

GOEX:

8.82%

GLD:

2.85%

Daily Std Dev

GOEX:

34.38%

GLD:

15.01%

Max Drawdown

GOEX:

-88.83%

GLD:

-45.56%

Current Drawdown

GOEX:

-63.06%

GLD:

-5.98%

Returns By Period

In the year-to-date period, GOEX achieves a 20.73% return, which is significantly lower than GLD's 26.64% return. Over the past 10 years, GOEX has outperformed GLD with an annualized return of 11.11%, while GLD has yielded a comparatively lower 7.96% annualized return.


GOEX

YTD

20.73%

1M

-5.42%

6M

9.25%

1Y

19.09%

5Y*

6.29%

10Y*

11.11%

GLD

YTD

26.64%

1M

-1.03%

6M

12.72%

1Y

27.80%

5Y*

11.67%

10Y*

7.96%

Compare stocks, funds, or ETFs

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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.


GOEX
Global X Gold Explorers ETF
Expense ratio chart for GOEX: current value at 0.65% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.65%
Expense ratio chart for GLD: current value at 0.40% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.40%

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.


Sharpe ratio
The chart of Sharpe ratio for GOEX, currently valued at 0.62, compared to the broader market0.002.004.000.621.91
The chart of Sortino ratio for GOEX, currently valued at 1.05, compared to the broader market-2.000.002.004.006.008.0010.001.052.53
The chart of Omega ratio for GOEX, currently valued at 1.12, compared to the broader market0.501.001.502.002.503.001.121.33
The chart of Calmar ratio for GOEX, currently valued at 0.29, compared to the broader market0.005.0010.0015.000.293.54
The chart of Martin ratio for GOEX, currently valued at 2.41, compared to the broader market0.0020.0040.0060.0080.00100.002.4110.08
GOEX
GLD

The current GOEX Sharpe Ratio is 0.62, which is lower than the GLD Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of GOEX and GLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.00JulyAugustSeptemberOctoberNovemberDecember
0.62
1.91
GOEX
GLD

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.


TTM2023202220212020201920182017201620152014
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.


-70.00%-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-63.06%
-5.98%
GOEX
GLD

Volatility

GOEX vs. GLD - Volatility Comparison

Global X Gold Explorers ETF (GOEX) has a higher volatility of 10.72% compared to SPDR Gold Trust (GLD) at 5.21%. 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.


2.00%4.00%6.00%8.00%10.00%12.00%JulyAugustSeptemberOctoberNovemberDecember
10.72%
5.21%
GOEX
GLD
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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