QTOP vs. GLDM
QTOP (iShares Nasdaq Top 30 Stocks ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past year, QTOP returned 41.42% vs 22.58% for GLDM. At a 0.10 correlation, their price movements are largely independent. QTOP charges 0.20%/yr vs 0.10%/yr for GLDM.
Performance
QTOP vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, QTOP achieves a 18.39% return, which is significantly higher than GLDM's -2.40% return.
QTOP
- 1D
- 0.53%
- 1M
- 0.35%
- YTD
- 18.39%
- 6M
- 19.40%
- 1Y
- 41.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDM
- 1D
- 0.11%
- 1M
- -7.40%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
QTOP vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QTOP iShares Nasdaq Top 30 Stocks ETF | 18.39% | 22.19% | 6.25% |
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | -3.40% |
Correlation
The correlation between QTOP and GLDM is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024 | 0.10 |
The correlation between QTOP and GLDM shifts across timeframes, from 0.10 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QTOP vs. GLDM — Risk / Return Rank
QTOP
GLDM
QTOP vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Top 30 Stocks ETF (QTOP) 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.
| QTOP | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.19 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 1.00 | +2.10 |
| Martin ratioReturn relative to average drawdown | 11.09 | 2.87 | +8.22 |
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Drawdowns
QTOP vs. GLDM - Drawdown Comparison
The maximum QTOP drawdown since its inception was -23.28%, roughly equal to the maximum GLDM drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for QTOP and GLDM.
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Drawdown Indicators
| QTOP | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.28% | -24.35% | +1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -12.88% | -24.35% | +11.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.35% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.35% | — |
Current DrawdownCurrent decline from peak | -3.73% | -21.96% | +18.23% |
Average DrawdownAverage peak-to-trough decline | -3.82% | -6.27% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 8.44% | -4.85% |
Volatility
QTOP vs. GLDM - Volatility Comparison
iShares Nasdaq Top 30 Stocks ETF (QTOP) and SPDR Gold MiniShares Trust (GLDM) have volatilities of 7.92% and 7.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QTOP | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.92% | 7.73% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.13% | 23.93% | -8.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.65% | 27.15% | -8.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.12% | 18.13% | +4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.12% | 16.98% | +6.14% |
QTOP vs. GLDM - Expense Ratio Comparison
QTOP has a 0.20% 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
QTOP vs. GLDM - Dividend Comparison
QTOP's dividend yield for the trailing twelve months is around 0.33%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% |
QTOP iShares Nasdaq Top 30 Stocks ETF | 0.33% | 0.38% | 0.11% |
Frequently Asked Questions
QTOP and GLDM have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QTOP has higher volatility (7.92%) compared to GLDM (7.73%). In terms of maximum drawdown, QTOP dropped -23.28% vs GLDM's -24.35%.
On 1-year performance, QTOP leads with 41.42% vs 22.58% for GLDM. On fees, GLDM is cheaper at 0.10% per year. On volatility, GLDM has been the lower-risk option at 7.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QTOP has performed better with a 41.42% return vs 22.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.20% for QTOP.
QTOP has the higher dividend yield at 0.33%, compared with 0.00% for GLDM.
QTOP is categorized as Nasdaq-100, while GLDM is Gold. QTOP tracks Nasdaq-100 Top 30 Index, while GLDM tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for QTOP and 0.10% for GLDM.
QTOP currently has the higher Sharpe Ratio (2.14 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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