LVLN vs. GLD

Last updated Jul 17, 2026

LVLN (SPDR S&P Leveraged Loan ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - LVLN is a Bank Loan fund tracking the S&P USD Select Leveraged Loan Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.40% expense ratio.

Performance

LVLN vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Leveraged Loan ETF (LVLN) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVLN achieves a 1.73% return, which is significantly higher than GLD's -7.91% return.

LVLN

• 1D: 0.20%
• 1M: 0.80%
• 6M: 1.47%
• YTD: 1.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLD

• 1D: -1.98%
• 1M: -8.22%
• 6M: -13.79%
• YTD: -7.91%
• 1Y: 18.39%
• 3Y*: 26.20%
• 5Y*: 16.59%
• 10Y*: 11.13%

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

LVLN vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025
LVLN SPDR S&P Leveraged Loan ETF	1.73%	1.14%
GLD SPDR Gold Shares	-7.91%	6.64%

Correlation

The correlation between LVLN and GLD 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 (All Time) Calculated using the full available price history since Nov 18, 2025	0.07

Return for Risk

LVLN vs. GLD — Risk / Return Rank

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

LVLN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GLD

GLD Risk / Return Rank: 21
GLD Sharpe Ratio Rank: 22
GLD Sortino Ratio Rank: 21
GLD Omega Ratio Rank: 24
GLD Calmar Ratio Rank: 20
GLD Martin Ratio Rank: 19

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.

LVLN vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Leveraged Loan ETF (LVLN) 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.

	LVLN	GLD	Difference
Sharpe ratio: Return per unit of total volatility	—	0.66	—
Sortino ratio: Return per unit of downside risk	—	1.00	—
Omega ratio: Gain probability vs. loss probability	—	1.14	—
Calmar ratio: Return relative to maximum drawdown	—	0.70	—
Martin ratio: Return relative to average drawdown	—	1.67	—

Drawdowns

LVLN vs. GLD - Drawdown Comparison

The maximum LVLN drawdown since its inception was -2.34%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for LVLN and GLD.

Drawdown Indicators

	LVLN	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-45.56%	+43.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.40%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.40%	—
Current Drawdown Current decline from peak	0.00%	-26.40%	+26.40%
Average Drawdown Average peak-to-trough decline	-0.48%	-16.19%	+15.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.04%	—

Volatility

Volatility by Period

	LVLN	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.65%	28.00%	-25.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.65%	18.41%	-15.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.65%	16.11%	-13.46%

LVLN vs. GLD - Expense Ratio Comparison

Both LVLN and GLD have an expense ratio of 0.40%.

Dividends

LVLN vs. GLD - Dividend Comparison

LVLN's dividend yield for the trailing twelve months is around 4.30%, while GLD has not paid dividends to shareholders.

Position	TTM	2025
GLD SPDR Gold Shares	0.00%	0.00%
LVLN SPDR S&P Leveraged Loan ETF	4.30%	0.49%

Frequently Asked Questions

Can I hold both LVLN and GLD in my portfolio?

LVLN and GLD 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.

Which ETF is better, LVLN or GLD?

Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LVLN or GLD?

LVLN and GLD have the same expense ratio: 0.40% per year.

Which ETF pays a higher dividend yield, LVLN or GLD?

LVLN has the higher dividend yield at 4.30%, compared with 0.00% for GLD.

What is the main difference between LVLN and GLD?

LVLN is categorized as Bank Loan, while GLD is Gold. LVLN tracks S&P USD Select Leveraged Loan Index, while GLD tracks LBMA Gold Price PM.