QNDX vs. GLDM

Last updated Jul 15, 2026

QNDX (SPDR Portfolio Nasdaq 100 ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - QNDX is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.

Performance

QNDX vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Nasdaq 100 ETF (QNDX) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QNDX

• 1D: 1.12%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDM

• 1D: 1.36%
• 1M: -3.68%
• 6M: -11.59%
• YTD: -6.00%
• 1Y: 21.17%
• 3Y*: 27.44%
• 5Y*: 17.14%
• 10Y*: —

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

QNDX vs. GLDM - Yearly Performance Comparison

	2026 (YTD)
QNDX SPDR Portfolio Nasdaq 100 ETF	0.74%
GLDM SPDR Gold MiniShares Trust	-1.34%

Correlation

The correlation between QNDX and GLDM is 0.13, 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 Jun 24, 2026	0.13

Return for Risk

QNDX vs. GLDM — Risk / Return Rank

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

QNDX

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: 24
GLDM Omega Ratio Rank: 28
GLDM Calmar Ratio Rank: 22
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.

QNDX vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Nasdaq 100 ETF (QNDX) 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.

	QNDX	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	—	0.77	—
Sortino ratio: Return per unit of downside risk	—	1.12	—
Omega ratio: Gain probability vs. loss probability	—	1.16	—
Calmar ratio: Return relative to maximum drawdown	—	0.81	—
Martin ratio: Return relative to average drawdown	—	1.97	—

Drawdowns

QNDX vs. GLDM - Drawdown Comparison

The maximum QNDX drawdown since its inception was -3.65%, smaller than the maximum GLDM drawdown of -26.11%. Use the drawdown chart below to compare losses from any high point for QNDX and GLDM.

Drawdown Indicators

	QNDX	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-3.65%	-26.11%	+22.46%
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	-2.25%	-24.84%	+22.59%
Average Drawdown Average peak-to-trough decline	-1.71%	-6.44%	+4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.75%	—

Volatility

Volatility by Period

	QNDX	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.98%	27.73%	-4.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.98%	18.31%	+4.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.98%	17.07%	+5.91%

QNDX vs. GLDM - Expense Ratio Comparison

Both QNDX and GLDM have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

QNDX vs. GLDM - Dividend Comparison

Neither QNDX nor GLDM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QNDX and GLDM in my portfolio?

QNDX and GLDM have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QNDX or GLDM?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QNDX or GLDM?

QNDX and GLDM have the same expense ratio: 0.10% per year.

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

QNDX and GLDM have nearly identical dividend yields, around 0.00%.

What is the main difference between QNDX and GLDM?

QNDX is categorized as Nasdaq-100, while GLDM is Gold. QNDX tracks Nasdaq-100 Index, while GLDM tracks LBMA Gold Price PM.