GXLD.AX vs. ZYUS.AX

Last updated Jul 16, 2026

GXLD.AX (Global X Gold Bullion ETF) and ZYUS.AX (Global X S&P 500 High Yield Low Volatility ETF) are both exchange-traded funds - GXLD.AX is a Gold fund tracking the Global X Gold Bullion Index, while ZYUS.AX is a Global Equities fund tracking the Global X S&P 500 High Yield Low Volatility Index. Both are passively managed. Over the past year, GXLD.AX returned 11.59% vs 4.42% for ZYUS.AX. At a 0.01 correlation, their price movements are largely independent.

Performance

GXLD.AX vs. ZYUS.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Global X Gold Bullion ETF (GXLD.AX) and Global X S&P 500 High Yield Low Volatility ETF (ZYUS.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GXLD.AX achieves a -11.66% return, which is significantly lower than ZYUS.AX's 5.46% return.

GXLD.AX

• 1D: -0.17%
• 1M: -5.54%
• 6M: -17.02%
• YTD: -11.66%
• 1Y: 11.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZYUS.AX

• 1D: 0.34%
• 1M: 2.46%
• 6M: 4.73%
• YTD: 5.46%
• 1Y: 4.42%
• 3Y*: 10.33%
• 5Y*: 8.25%
• 10Y*: 7.18%

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

GXLD.AX vs. ZYUS.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GXLD.AX Global X Gold Bullion ETF	-11.66%	54.77%	17.24%
ZYUS.AX Global X S&P 500 High Yield Low Volatility ETF	5.46%	-4.75%	18.89%

Correlation

The correlation between GXLD.AX and ZYUS.AX is -0.07, 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	-0.07
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.01

Return for Risk

GXLD.AX vs. ZYUS.AX — Risk / Return Rank

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

GXLD.AX

GXLD.AX Risk / Return Rank: 17
GXLD.AX Sharpe Ratio Rank: 18
GXLD.AX Sortino Ratio Rank: 17
GXLD.AX Omega Ratio Rank: 19
GXLD.AX Calmar Ratio Rank: 16
GXLD.AX Martin Ratio Rank: 15

ZYUS.AX

ZYUS.AX Risk / Return Rank: 16
ZYUS.AX Sharpe Ratio Rank: 16
ZYUS.AX Sortino Ratio Rank: 15
ZYUS.AX Omega Ratio Rank: 14
ZYUS.AX Calmar Ratio Rank: 18
ZYUS.AX Martin Ratio Rank: 16

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.

GXLD.AX vs. ZYUS.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 S&P 500 High Yield Low Volatility ETF (ZYUS.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	ZYUS.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.48	0.39	+0.08
Sortino ratio: Return per unit of downside risk	0.80	0.66	+0.14
Omega ratio: Gain probability vs. loss probability	1.11	1.07	+0.04
Calmar ratio: Return relative to maximum drawdown	0.47	0.60	-0.12
Martin ratio: Return relative to average drawdown	1.08	1.25	-0.17

GXLD.AX vs. ZYUS.AX - Sharpe Ratio Comparison

The current GXLD.AX Sharpe Ratio is 0.48, which is comparable to the ZYUS.AX Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of GXLD.AX and ZYUS.AX, 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

GXLD.AX vs. ZYUS.AX - Drawdown Comparison

The maximum GXLD.AX drawdown since its inception was -24.63%, smaller than the maximum ZYUS.AX drawdown of -31.48%. Use the drawdown chart below to compare losses from any high point for GXLD.AX and ZYUS.AX.

Drawdown Indicators

	GXLD.AX	ZYUS.AX	Difference
Max Drawdown Largest peak-to-trough decline	-24.63%	-31.48%	+6.85%
Max Drawdown (1Y) Largest decline over 1 year	-24.63%	-8.48%	-16.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.83%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-12.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.48%	—
Current Drawdown Current decline from peak	-24.63%	-4.20%	-20.43%
Average Drawdown Average peak-to-trough decline	-5.14%	-5.55%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.98%	4.12%	+6.86%

Volatility

GXLD.AX vs. ZYUS.AX - Volatility Comparison

Global X Gold Bullion ETF (GXLD.AX) has a higher volatility of 6.13% compared to Global X S&P 500 High Yield Low Volatility ETF (ZYUS.AX) at 4.69%. This indicates that GXLD.AX's price experiences larger fluctuations and is considered to be riskier than ZYUS.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GXLD.AX	ZYUS.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	4.69%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	20.99%	10.35%	+10.64%
Volatility (1Y) Calculated over the trailing 1-year period	24.56%	12.93%	+11.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.45%	13.51%	+6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	15.02%	+5.43%

Dividends

GXLD.AX vs. ZYUS.AX - Dividend Comparison

GXLD.AX has not paid dividends to shareholders, while ZYUS.AX's dividend yield for the trailing twelve months is around 4.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
ZYUS.AX Global X S&P 500 High Yield Low Volatility ETF	4.00%	5.68%	3.54%	7.57%	3.05%	2.70%	6.34%	7.82%	5.96%	6.04%	3.90%	0.84%

Frequently Asked Questions

Can I hold both GXLD.AX and ZYUS.AX in my portfolio?

GXLD.AX and ZYUS.AX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between GXLD.AX and ZYUS.AX?

GXLD.AX is categorized as Gold, while ZYUS.AX is Global Equities. GXLD.AX tracks Global X Gold Bullion Index, while ZYUS.AX tracks Global X S&P 500 High Yield Low Volatility Index.