GXLD.AX vs. TECH.AX
GXLD.AX (Global X Gold Bullion ETF) and TECH.AX (Global X Morningstar Global Technology ETF) are both exchange-traded funds - GXLD.AX is a Gold fund tracking the Global X Gold Bullion Index, while TECH.AX is a Technology Equities fund tracking the Global X Morningstar Global Technology Index. Both are passively managed. Over the past year, GXLD.AX returned 11.59% vs 10.92% for TECH.AX. At a correlation of -0.10, they often move in opposite directions.
Performance
GXLD.AX vs. TECH.AX - Performance Comparison
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Returns By Period
In the year-to-date period, GXLD.AX achieves a -11.66% return, which is significantly lower than TECH.AX's 13.34% return.
GXLD.AX
- 1D
- -0.17%
- 1M
- -5.54%
- 6M
- -17.02%
- YTD
- -11.66%
- 1Y
- 11.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TECH.AX
- 1D
- -0.93%
- 1M
- -1.39%
- 6M
- 13.58%
- YTD
- 13.34%
- 1Y
- 10.92%
- 3Y*
- 13.91%
- 5Y*
- 9.17%
- 10Y*
- —
GXLD.AX vs. TECH.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GXLD.AX Global X Gold Bullion ETF | -11.66% | 54.77% | 17.24% |
TECH.AX Global X Morningstar Global Technology ETF | 13.34% | 0.78% | 18.98% |
Correlation
The correlation between GXLD.AX and TECH.AX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 2, 2024 | -0.10 |
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Return for Risk
GXLD.AX vs. TECH.AX — Risk / Return Rank
GXLD.AX
TECH.AX
GXLD.AX vs. TECH.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Gold Bullion ETF (GXLD.AX) and Global X Morningstar Global Technology ETF (TECH.AX). 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.
| GXLD.AX | TECH.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.11 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.46 | +0.02 |
| Martin ratioReturn relative to average drawdown | 1.08 | 0.99 | +0.09 |
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Drawdowns
GXLD.AX vs. TECH.AX - Drawdown Comparison
The maximum GXLD.AX drawdown since its inception was -24.63%, smaller than the maximum TECH.AX drawdown of -31.78%. Use the drawdown chart below to compare losses from any high point for GXLD.AX and TECH.AX.
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Drawdown Indicators
| GXLD.AX | TECH.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.63% | -31.78% | +7.15% |
Max Drawdown (1Y)Largest decline over 1 year | -24.63% | -26.30% | +1.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.78% | — |
Current DrawdownCurrent decline from peak | -24.63% | -6.24% | -18.39% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -7.73% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.98% | 12.27% | -1.29% |
Volatility
GXLD.AX vs. TECH.AX - Volatility Comparison
The current volatility for Global X Gold Bullion ETF (GXLD.AX) is 6.13%, while Global X Morningstar Global Technology ETF (TECH.AX) has a volatility of 6.78%. This indicates that GXLD.AX experiences smaller price fluctuations and is considered to be less risky than TECH.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GXLD.AX | TECH.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 6.78% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 20.99% | 18.70% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.56% | 21.13% | +3.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.45% | 21.61% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.45% | 21.03% | -0.58% |
Dividends
GXLD.AX vs. TECH.AX - Dividend Comparison
GXLD.AX has not paid dividends to shareholders, while TECH.AX's dividend yield for the trailing twelve months is around 3.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GXLD.AX Global X Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECH.AX Global X Morningstar Global Technology ETF | 3.40% | 11.08% | 6.23% | 0.50% | 4.95% | 13.65% | 7.67% | 7.75% | 6.07% | 0.84% |
Frequently Asked Questions
GXLD.AX and TECH.AX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GXLD.AX is categorized as Gold, while TECH.AX is Technology Equities. GXLD.AX tracks Global X Gold Bullion Index, while TECH.AX tracks Global X Morningstar Global Technology Index.
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