RPIDX vs. GLDM
RPIDX (T. Rowe Price Dynamic Credit Fund) and GLDM (SPDR Gold MiniShares Trust) are both funds - RPIDX is a Nontraditional Bonds fund managed by T. Rowe Price, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, RPIDX returned 4.46%/yr vs 17.41%/yr for GLDM. At a 0.01 correlation, their price movements are largely independent. RPIDX charges 0.63%/yr vs 0.10%/yr for GLDM.
Performance
RPIDX vs. GLDM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RPIDX achieves a 0.28% return, which is significantly higher than GLDM's -2.40% return.
RPIDX
- 1D
- -0.12%
- 1M
- -0.28%
- YTD
- 0.28%
- 6M
- 1.67%
- 1Y
- 7.02%
- 3Y*
- 7.95%
- 5Y*
- 4.46%
- 10Y*
- —
GLDM
- 1D
- 0.11%
- 1M
- -10.20%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 24.17%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
RPIDX vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RPIDX T. Rowe Price Dynamic Credit Fund | 0.28% | 9.74% | 9.92% | 4.72% | -0.76% | 6.21% | 2.71% | 6.87% |
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 17.64% |
Correlation
The correlation between RPIDX and GLDM is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2019 | 0.01 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RPIDX vs. GLDM — Risk / Return Rank
RPIDX
GLDM
RPIDX vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Credit Fund (RPIDX) 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.
| RPIDX | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.19 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 5.16 | 1.00 | +4.16 |
| Martin ratioReturn relative to average drawdown | 13.35 | 2.87 | +10.48 |
Loading charts...
Drawdowns
RPIDX vs. GLDM - Drawdown Comparison
The maximum RPIDX drawdown since its inception was -19.95%, smaller than the maximum GLDM drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for RPIDX and GLDM.
Loading charts...
Drawdown Indicators
| RPIDX | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.95% | -24.35% | +4.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.34% | -24.35% | +23.01% |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | -24.35% | +21.18% |
Max Drawdown (5Y)Largest decline over 5 years | -7.31% | -24.35% | +17.04% |
Current DrawdownCurrent decline from peak | -0.74% | -21.96% | +21.22% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -6.27% | +4.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 8.44% | -7.92% |
Volatility
RPIDX vs. GLDM - Volatility Comparison
The current volatility for T. Rowe Price Dynamic Credit Fund (RPIDX) is 0.70%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 7.73%. This indicates that RPIDX 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.
Loading charts...
Volatility by Period
| RPIDX | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 7.73% | -7.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 23.93% | -21.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 27.15% | -23.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.83% | 18.13% | -14.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 16.98% | -12.19% |
RPIDX vs. GLDM - Expense Ratio Comparison
RPIDX has a 0.63% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Dividends
RPIDX vs. GLDM - Dividend Comparison
RPIDX's dividend yield for the trailing twelve months is around 9.92%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RPIDX T. Rowe Price Dynamic Credit Fund | 9.92% | 9.91% | 9.20% | 6.64% | 7.97% | 5.34% | 7.14% | 4.41% |
Frequently Asked Questions
RPIDX and GLDM have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (7.73%) compared to RPIDX (0.70%). In terms of maximum drawdown, RPIDX dropped -19.95% vs GLDM's -24.35%.
RPIDX currently has the higher Sharpe Ratio (2.08 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.
Find the right allocation for RPIDX and GLDM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer