QIF.NEO vs. GLDM
QIF.NEO (AGF Systematic Global Infrastructure ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - QIF.NEO is a Industrials Equities fund actively managed by AGF, while GLDM is a Gold fund tracking the LBMA Gold Price PM. QIF.NEO is actively managed, while GLDM is passively managed. Over the past 5 years, QIF.NEO returned 12.26%/yr vs 21.55%/yr for GLDM. At a 0.08 correlation, their price movements are largely independent. QIF.NEO charges 0.45%/yr vs 0.10%/yr for GLDM.
Performance
QIF.NEO vs. GLDM - Performance Comparison
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Different Trading Currencies
QIF.NEO is traded in CAD, while GLDM is traded in USD. To make them comparable, the GLDM values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, QIF.NEO achieves a 15.29% return, which is significantly higher than GLDM's -1.49% return.
QIF.NEO
- 1D
- 0.39%
- 1M
- 1.22%
- YTD
- 15.29%
- 6M
- 15.33%
- 1Y
- 24.41%
- 3Y*
- 18.40%
- 5Y*
- 12.26%
- 10Y*
- —
GLDM
- 1D
- -2.02%
- 1M
- -6.29%
- YTD
- -1.49%
- 6M
- -5.89%
- 1Y
- 25.37%
- 3Y*
- 32.01%
- 5Y*
- 21.55%
- 10Y*
- —
QIF.NEO vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QIF.NEO AGF Systematic Global Infrastructure ETF | 15.29% | 14.80% | 21.37% | 4.72% | -2.67% | 20.54% | -8.96% | 20.89% | -0.29% |
GLDM SPDR Gold MiniShares Trust | -1.49% | 56.71% | 37.84% | 10.35% | 5.84% | -4.06% | 22.13% | 13.23% | 4.23% |
Correlation
The correlation between QIF.NEO and GLDM is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.08 |
The correlation between QIF.NEO and GLDM shifts across timeframes, from 0.08 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QIF.NEO vs. GLDM — Risk / Return Rank
QIF.NEO
GLDM
QIF.NEO vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGF Systematic Global Infrastructure ETF (QIF.NEO) 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.
| QIF.NEO | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.19 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 5.27 | 1.15 | +4.12 |
| Martin ratioReturn relative to average drawdown | 14.52 | 3.08 | +11.44 |
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Drawdowns
QIF.NEO vs. GLDM - Drawdown Comparison
The maximum QIF.NEO drawdown since its inception was -30.71%, which is greater than GLDM's maximum drawdown of -22.76%. Use the drawdown chart below to compare losses from any high point for QIF.NEO and GLDM.
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Drawdown Indicators
| QIF.NEO | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.71% | -22.76% | -7.95% |
Max Drawdown (1Y)Largest decline over 1 year | -4.67% | -22.09% | +17.42% |
Max Drawdown (3Y)Largest decline over 3 years | -10.29% | -22.09% | +11.80% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -22.09% | +6.55% |
Current DrawdownCurrent decline from peak | 0.00% | -20.39% | +20.39% |
Average DrawdownAverage peak-to-trough decline | -4.36% | -7.18% | +2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 8.26% | -6.57% |
Volatility
QIF.NEO vs. GLDM - Volatility Comparison
The current volatility for AGF Systematic Global Infrastructure ETF (QIF.NEO) is 3.05%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 8.25%. This indicates that QIF.NEO 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
| QIF.NEO | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 8.25% | -5.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.68% | 24.15% | -16.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.65% | 27.34% | -17.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.66% | 19.07% | -7.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.81% | 18.14% | -3.33% |
QIF.NEO vs. GLDM - Expense Ratio Comparison
QIF.NEO has a 0.45% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Dividends
QIF.NEO vs. GLDM - Dividend Comparison
QIF.NEO's dividend yield for the trailing twelve months is around 4.99%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QIF.NEO AGF Systematic Global Infrastructure ETF | 4.99% | 5.32% | 4.60% | 3.61% | 3.22% | 3.05% | 3.12% | 3.16% | 2.24% |
Frequently Asked Questions
QIF.NEO and GLDM have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.45% for QIF.NEO.
QIF.NEO is categorized as Industrials Equities, while GLDM is Gold. They also come from different issuers: AGF and State Street. Their fees differ too: 0.45% for QIF.NEO and 0.10% for GLDM.
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