RNMBF vs. GLD

Last updated Jun 4, 2026

RNMBF (Rheinmetall AG) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, RNMBF returned 73.49%/yr vs 18.15%/yr for GLD. At a 0.10 correlation, their price movements are largely independent.

Performance

RNMBF vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rheinmetall AG (RNMBF) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RNMBF achieves a -22.59% return, which is significantly lower than GLD's 2.92% return.

RNMBF

• 1D: 1.52%
• 1M: -10.18%
• YTD: -22.59%
• 6M: -20.28%
• 1Y: -32.10%
• 3Y*: 78.43%
• 5Y*: 73.49%
• 10Y*: —

GLD

• 1D: -0.99%
• 1M: -1.65%
• YTD: 2.92%
• 6M: 5.43%
• 1Y: 32.04%
• 3Y*: 31.09%
• 5Y*: 18.15%
• 10Y*: 13.12%

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

RNMBF vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RNMBF Rheinmetall AG	-22.59%	189.47%	106.03%	62.49%	112.89%	16.07%	8.13%	0.00%
GLD SPDR Gold Shares	2.92%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	1.56%

Correlation

The correlation between RNMBF and GLD is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019	0.10

Return for Risk

RNMBF vs. GLD — Risk / Return Rank

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

RNMBF

RNMBF Risk / Return Rank: 12
RNMBF Sharpe Ratio Rank: 12
RNMBF Sortino Ratio Rank: 14
RNMBF Omega Ratio Rank: 16
RNMBF Calmar Ratio Rank: 14
RNMBF Martin Ratio Rank: 3

GLD

GLD Risk / Return Rank: 32
GLD Sharpe Ratio Rank: 32
GLD Sortino Ratio Rank: 29
GLD Omega Ratio Rank: 35
GLD Calmar Ratio Rank: 33
GLD Martin Ratio Rank: 28

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.

RNMBF vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rheinmetall AG (RNMBF) and SPDR Gold Shares (GLD). 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.

	RNMBF	GLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	1.21	-1.88
Sortino ratio: Return per unit of downside risk	-0.78	1.60	-2.38
Omega ratio: Gain probability vs. loss probability	0.91	1.24	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.74	1.68	-2.41
Martin ratio: Return relative to average drawdown	-1.68	4.15	-5.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RNMBF vs. GLD - Sharpe Ratio Comparison

The current RNMBF Sharpe Ratio is -0.67, which is lower than the GLD Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of RNMBF and GLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RNMBF	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.67	1.21	-1.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.49	1.01	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.36	0.60	+0.76

Drawdowns

RNMBF vs. GLD - Drawdown Comparison

The maximum RNMBF drawdown since its inception was -43.75%, roughly equal to the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for RNMBF and GLD.

Drawdown Indicators

	RNMBF	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-43.75%	-45.56%	+1.81%
Max Drawdown (1Y) Largest decline over 1 year	-43.75%	-19.21%	-24.54%
Max Drawdown (3Y) Largest decline over 3 years	-43.75%	-19.21%	-24.54%
Max Drawdown (5Y) Largest decline over 5 years	-43.75%	-21.03%	-22.72%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.00%	—
Current Drawdown Current decline from peak	-39.25%	-17.75%	-21.50%
Average Drawdown Average peak-to-trough decline	-8.71%	-16.16%	+7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.14%	7.73%	+11.41%

Volatility

RNMBF vs. GLD - Volatility Comparison

Rheinmetall AG (RNMBF) has a higher volatility of 17.97% compared to SPDR Gold Shares (GLD) at 5.51%. This indicates that RNMBF's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RNMBF	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.97%	5.51%	+12.46%
Volatility (6M) Calculated over the trailing 6-month period	37.40%	23.16%	+14.24%
Volatility (1Y) Calculated over the trailing 1-year period	47.91%	26.61%	+21.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.69%	18.00%	+31.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.75%	15.95%	+32.80%

Dividends

RNMBF vs. GLD - Dividend Comparison

RNMBF's dividend yield for the trailing twelve months is around 0.96%, while GLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RNMBF Rheinmetall AG	0.96%	1.48%	1.92%	2.96%	3.43%	19.20%

Frequently Asked Questions

Can I hold both RNMBF and GLD in my portfolio?

RNMBF and GLD have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RNMBF or GLD?

RNMBF has higher volatility (17.97%) compared to GLD (5.51%). In terms of maximum drawdown, RNMBF dropped -43.75% vs GLD's -45.56%.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (1.21 vs -0.67), 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.