PAIIX vs. GLDM
Compare and contrast key facts about PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) and SPDR Gold MiniShares Trust (GLDM).
PAIIX is managed by PIMCO. It was launched on Oct 1, 1995. GLDM is a passively managed fund by State Street that tracks the performance of the LBMA Gold PM Price. It was launched on Jun 25, 2018.
Performance
PAIIX vs. GLDM - Performance Comparison
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PAIIX vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) | -2.53% | 8.23% | 4.02% | 6.63% | -6.00% | -0.84% | 6.95% | 6.40% | -0.25% |
GLDM SPDR Gold MiniShares Trust | 10.46% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.84% |
Returns By Period
In the year-to-date period, PAIIX achieves a -2.53% return, which is significantly lower than GLDM's 10.46% return.
PAIIX
- 1D
- 0.42%
- 1M
- -2.85%
- YTD
- -2.53%
- 6M
- -1.27%
- 1Y
- 2.81%
- 3Y*
- 4.73%
- 5Y*
- 1.83%
- 10Y*
- 2.83%
GLDM
- 1D
- 1.74%
- 1M
- -10.65%
- YTD
- 10.46%
- 6M
- 23.17%
- 1Y
- 52.61%
- 3Y*
- 34.09%
- 5Y*
- 22.33%
- 10Y*
- —
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PAIIX vs. GLDM - Expense Ratio Comparison
PAIIX has a 0.90% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Return for Risk
PAIIX vs. GLDM — Risk / Return Rank
PAIIX
GLDM
PAIIX vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) 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.
| PAIIX | GLDM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.75 | 1.92 | -1.17 |
Sortino ratioReturn per unit of downside risk | 1.02 | 2.35 | -1.32 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.35 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 0.84 | 2.74 | -1.89 |
Martin ratioReturn relative to average drawdown | 3.60 | 10.04 | -6.44 |
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
| PAIIX | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 1.92 | -1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 1.27 | -0.70 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.97 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 1.11 | -0.02 |
Correlation
The correlation between PAIIX and GLDM is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PAIIX vs. GLDM - Dividend Comparison
PAIIX's dividend yield for the trailing twelve months is around 4.33%, while GLDM has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) | 4.33% | 4.44% | 3.72% | 2.05% | 7.25% | 2.59% | 1.90% | 3.75% | 1.78% | 2.73% | 2.23% | 5.44% |
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PAIIX vs. GLDM - Drawdown Comparison
The maximum PAIIX drawdown since its inception was -13.59%, smaller than the maximum GLDM drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for PAIIX and GLDM.
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Drawdown Indicators
| PAIIX | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.59% | -21.63% | +8.04% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -19.14% | +14.89% |
Max Drawdown (5Y)Largest decline over 5 years | -9.91% | -20.92% | +11.01% |
Max Drawdown (10Y)Largest decline over 10 years | -10.44% | — | — |
Current DrawdownCurrent decline from peak | -3.44% | -11.68% | +8.24% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -6.05% | +4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 5.22% | -4.22% |
Volatility
PAIIX vs. GLDM - Volatility Comparison
The current volatility for PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) is 2.26%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 10.44%. This indicates that PAIIX experiences smaller price fluctuations and is considered to be less risky than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAIIX | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 10.44% | -8.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 24.12% | -21.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 27.58% | -23.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.26% | 17.65% | -14.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.92% | 16.78% | -13.86% |