IAUM vs. GLDM
IAUM (iShares Gold Trust Micro) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds — IAUM is a Gold fund tracking the LBMA Gold Price, while GLDM is a Precious Metals fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past 3 years, IAUM returned 33.67%/yr vs 33.65%/yr for GLDM. With a 1.00 correlation, they move nearly in lockstep. IAUM charges 0.09%/yr vs 0.10%/yr for GLDM.
Performance
IAUM vs. GLDM - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IAUM having a 10.56% return and GLDM slightly lower at 10.55%.
IAUM
- 1D
- 0.81%
- 1M
- -8.30%
- YTD
- 10.56%
- 6M
- 20.03%
- 1Y
- 54.12%
- 3Y*
- 33.67%
- 5Y*
- —
- 10Y*
- —
GLDM
- 1D
- 0.80%
- 1M
- -8.27%
- YTD
- 10.55%
- 6M
- 20.05%
- 1Y
- 54.06%
- 3Y*
- 33.65%
- 5Y*
- 22.15%
- 10Y*
- —
IAUM vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 10.56% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
GLDM SPDR Gold MiniShares Trust | 10.55% | 64.20% | 27.08% | 13.04% | -0.47% | 3.71% |
Correlation
The correlation between IAUM and GLDM is 1.00 — these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021 | 1.00 |
The correlation between IAUM and GLDM has been stable across timeframes, ranging from 1.00 to 1.00 — a consistent structural relationship.
IAUM vs. GLDM - Expense Ratio Comparison
IAUM has a 0.09% expense ratio, which is lower than GLDM's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
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Return for Risk
IAUM vs. GLDM — Risk / Return Rank
IAUM
GLDM
IAUM vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) and SPDR Gold MiniShares Trust (GLDM). 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.
| IAUM | GLDM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.01 | 2.00 | +0.01 |
Sortino ratioReturn per unit of downside risk | 2.42 | 2.41 | +0.01 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 3.15 | 3.14 | +0.01 |
Martin ratioReturn relative to average drawdown | 10.94 | 10.92 | +0.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAUM | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 2.00 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.30 | 1.11 | +0.20 |
Drawdowns
IAUM vs. GLDM - Drawdown Comparison
The maximum IAUM drawdown since its inception was -20.87%, roughly equal to the maximum GLDM drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for IAUM and GLDM.
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Drawdown Indicators
| IAUM | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.87% | -21.63% | +0.76% |
Max Drawdown (1Y)Largest decline over 1 year | -19.15% | -19.14% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.92% | — |
Current DrawdownCurrent decline from peak | -11.64% | -11.60% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -6.06% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.51% | 5.50% | +0.01% |
Volatility
IAUM vs. GLDM - Volatility Comparison
iShares Gold Trust Micro (IAUM) and SPDR Gold MiniShares Trust (GLDM) have volatilities of 10.34% and 10.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUM | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.34% | 10.38% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 24.05% | 24.16% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.47% | 27.54% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.78% | 17.67% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.78% | 16.78% | +1.00% |
Dividends
IAUM vs. GLDM - Dividend Comparison
Neither IAUM nor GLDM has paid dividends to shareholders.