MMK vs. GLDM

Last updated Jul 4, 2026

MMK (State Street Prime Money Market ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - MMK is a Money Market fund actively managed by State Street, while GLDM is a Gold fund tracking the LBMA Gold Price PM. MMK is actively managed, while GLDM is passively managed. At a 0.16 correlation, their price movements are largely independent. MMK charges 0.18%/yr vs 0.10%/yr for GLDM.

Performance

MMK vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Prime Money Market ETF (MMK) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MMK

• 1D: 0.03%
• 1M: 0.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDM

• 1D: 2.03%
• 1M: -7.27%
• 6M: -4.90%
• YTD: -4.49%
• 1Y: 23.47%
• 3Y*: 28.81%
• 5Y*: 18.05%
• 10Y*: —

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

MMK vs. GLDM - Yearly Performance Comparison

	2026 (YTD)
MMK State Street Prime Money Market ETF	1.41%
GLDM SPDR Gold MiniShares Trust	-19.00%

Correlation

The correlation between MMK and GLDM is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 12, 2026	0.16

Return for Risk

MMK vs. GLDM — Risk / Return Rank

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

MMK

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

GLDM

GLDM Risk / Return Rank: 24
GLDM Sharpe Ratio Rank: 26
GLDM Sortino Ratio Rank: 23
GLDM Omega Ratio Rank: 28
GLDM Calmar Ratio Rank: 21
GLDM Martin Ratio Rank: 21

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.

MMK vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Prime Money Market ETF (MMK) 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.

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.

	MMK	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	—	0.83	—
Sortino ratio: Return per unit of downside risk	—	1.19	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	0.87	—
Martin ratio: Return relative to average drawdown	—	2.28	—

Drawdowns

MMK vs. GLDM - Drawdown Comparison

The maximum MMK drawdown since its inception was -0.01%, smaller than the maximum GLDM drawdown of -26.11%. Use the drawdown chart below to compare losses from any high point for MMK and GLDM.

Drawdown Indicators

	MMK	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-0.01%	-26.11%	+26.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.11%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.11%	—
Current Drawdown Current decline from peak	0.00%	-23.63%	+23.63%
Average Drawdown Average peak-to-trough decline	-0.00%	-6.38%	+6.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.96%	—

Volatility

Volatility by Period

	MMK	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.18%	27.54%	-27.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.18%	18.24%	-18.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.18%	17.05%	-16.87%

MMK vs. GLDM - Expense Ratio Comparison

MMK has a 0.18% expense ratio, which is higher than GLDM's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MMK vs. GLDM - Dividend Comparison

MMK's dividend yield for the trailing twelve months is around 1.38%, while GLDM has not paid dividends to shareholders.

Position	TTM
GLDM SPDR Gold MiniShares Trust	0.00%
MMK State Street Prime Money Market ETF	1.38%

Frequently Asked Questions

Can I hold both MMK and GLDM in my portfolio?

MMK and GLDM have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MMK or GLDM?

On fees, GLDM is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMK or GLDM?

GLDM is cheaper with a 0.10% expense ratio, compared with 0.18% for MMK.

Which ETF pays a higher dividend yield, MMK or GLDM?

MMK has the higher dividend yield at 1.38%, compared with 0.00% for GLDM.

What is the main difference between MMK and GLDM?

MMK is categorized as Money Market, while GLDM is Gold. Their fees differ too: 0.18% for MMK and 0.10% for GLDM.