LGLV vs. GLD
LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - LGLV is a Volatility Hedged Equity fund tracking the SSGA US Large Cap Low Volatility (TR), while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, LGLV returned 11.29%/yr vs 11.59%/yr for GLD. At a 0.03 correlation, their price movements are largely independent. LGLV charges 0.12%/yr vs 0.40%/yr for GLD.
Performance
LGLV vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, LGLV achieves a 2.78% return, which is significantly higher than GLD's -4.79% return. Both investments have delivered pretty close results over the past 10 years, with LGLV having a 11.29% annualized return and GLD not far ahead at 11.59%.
LGLV
- 1D
- 0.86%
- 1M
- -0.36%
- YTD
- 2.78%
- 6M
- 2.23%
- 1Y
- 5.19%
- 3Y*
- 11.54%
- 5Y*
- 8.27%
- 10Y*
- 11.29%
GLD
- 1D
- -1.89%
- 1M
- -8.82%
- YTD
- -4.79%
- 6M
- -8.78%
- 1Y
- 21.29%
- 3Y*
- 28.41%
- 5Y*
- 17.84%
- 10Y*
- 11.59%
LGLV vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF | 2.78% | 8.37% | 16.22% | 9.19% | -8.17% | 27.95% | 7.42% | 30.83% | 0.32% | 17.84% |
GLD SPDR Gold Shares | -4.79% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between LGLV and GLD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2013 | 0.03 |
The correlation between LGLV and GLD shifts across timeframes, from 0.03 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LGLV vs. GLD — Risk / Return Rank
LGLV
GLD
LGLV vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) and SPDR Gold Shares (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.
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.
| LGLV | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.17 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.87 | -0.11 |
| Martin ratioReturn relative to average drawdown | 1.80 | 2.35 | -0.55 |
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Drawdowns
LGLV vs. GLD - Drawdown Comparison
The maximum LGLV drawdown since its inception was -36.64%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for LGLV and GLD.
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Drawdown Indicators
| LGLV | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.64% | -45.56% | +8.92% |
Max Drawdown (1Y)Largest decline over 1 year | -6.86% | -24.46% | +17.60% |
Max Drawdown (3Y)Largest decline over 3 years | -10.17% | -24.46% | +14.29% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -24.46% | +6.97% |
Max Drawdown (10Y)Largest decline over 10 years | -36.64% | -24.46% | -12.18% |
Current DrawdownCurrent decline from peak | -4.79% | -23.91% | +19.12% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -16.17% | +12.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 9.10% | -6.20% |
Volatility
LGLV vs. GLD - Volatility Comparison
The current volatility for SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) is 3.51%, while SPDR Gold Shares (GLD) has a volatility of 8.18%. This indicates that LGLV experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LGLV | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 8.18% | -4.67% |
Volatility (6M)Calculated over the trailing 6-month period | 7.00% | 24.38% | -17.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.57% | 27.57% | -18.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.94% | 18.24% | -5.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 16.04% | +0.03% |
LGLV vs. GLD - Expense Ratio Comparison
LGLV has a 0.12% expense ratio, which is lower than GLD's 0.40% expense ratio.
Dividends
LGLV vs. GLD - Dividend Comparison
LGLV's dividend yield for the trailing twelve months is around 2.09%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF | 2.09% | 1.94% | 1.93% | 2.03% | 1.95% | 1.65% | 1.98% | 1.89% | 2.09% | 4.39% | 2.54% | 2.97% |
Frequently Asked Questions
LGLV and GLD have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.18%) compared to LGLV (3.51%). In terms of maximum drawdown, LGLV dropped -36.64% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.59% vs 11.29% for LGLV. On fees, LGLV is cheaper at 0.12% per year. On volatility, LGLV has been the lower-risk option at 3.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.59% return vs 11.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LGLV is cheaper with a 0.12% expense ratio, compared with 0.40% for GLD.
LGLV has the higher dividend yield at 2.09%, compared with 0.00% for GLD.
LGLV is categorized as Volatility Hedged Equity, while GLD is Gold. LGLV tracks SSGA US Large Cap Low Volatility (TR), while GLD tracks LBMA Gold Price PM. Their fees differ too: 0.12% for LGLV and 0.40% for GLD.
GLD currently has the higher Sharpe Ratio (0.78 vs 0.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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