SGOV vs. GLDM
SGOV (iShares 0-3 Month Treasury Bond ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, SGOV returned 3.55%/yr vs 17.89%/yr for GLDM. At a 0.01 correlation, their price movements are largely independent. SGOV charges 0.09%/yr vs 0.10%/yr for GLDM.
Performance
SGOV vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, SGOV achieves a 1.56% return, which is significantly higher than GLDM's 0.30% return.
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.70%
- 5Y*
- 3.55%
- 10Y*
- —
GLDM
- 1D
- 0.25%
- 1M
- -8.41%
- YTD
- 0.30%
- 6M
- 3.19%
- 1Y
- 30.55%
- 3Y*
- 30.08%
- 5Y*
- 17.89%
- 10Y*
- —
SGOV vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 1.56% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
GLDM SPDR Gold MiniShares Trust | 0.30% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 10.44% |
Correlation
The correlation between SGOV and GLDM is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | 0.01 |
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Return for Risk
SGOV vs. GLDM — Risk / Return Rank
SGOV
GLDM
SGOV vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) 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.
| SGOV | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +19.12 | ||
| Sortino ratioReturn per unit of downside risk | +274.15 | ||
| Omega ratioGain probability vs. loss probability | 195.55 | 1.23 | +194.32 |
| Calmar ratioReturn relative to maximum drawdown | 398.20 | 1.53 | +396.66 |
| Martin ratioReturn relative to average drawdown | 4,461.99 | 3.85 | +4,458.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SGOV | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 20.28 | 1.15 | +19.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 14.78 | 1.00 | +13.78 |
Sharpe Ratio (All Time)Calculated using the full available price history | 12.50 | 0.99 | +11.51 |
Drawdowns
SGOV vs. GLDM - Drawdown Comparison
The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum GLDM drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for SGOV and GLDM.
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Drawdown Indicators
| SGOV | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -21.63% | +21.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -20.00% | +19.99% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -20.00% | +19.99% |
Max Drawdown (5Y)Largest decline over 5 years | -0.03% | -20.92% | +20.89% |
Current DrawdownCurrent decline from peak | 0.00% | -19.80% | +19.80% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -6.24% | +6.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 7.96% | -7.96% |
Volatility
SGOV vs. GLDM - Volatility Comparison
The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.06%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 5.65%. This indicates that SGOV 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
| SGOV | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 5.65% | -5.59% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 23.31% | -23.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 26.65% | -26.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.24% | 17.98% | -17.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.24% | 16.89% | -16.65% |
SGOV vs. GLDM - Expense Ratio Comparison
SGOV has a 0.09% expense ratio, which is lower than GLDM's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SGOV vs. GLDM - Dividend Comparison
SGOV's dividend yield for the trailing twelve months is around 3.85%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
SGOV and GLDM have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (5.65%) compared to SGOV (0.06%). In terms of maximum drawdown, SGOV dropped -0.03% vs GLDM's -21.63%.
On 5-year performance, GLDM leads with 17.89% vs 3.55% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLDM has performed better with a 17.89% return vs 3.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.10% for GLDM.
SGOV has the higher dividend yield at 3.85%, compared with 0.00% for GLDM.
SGOV is categorized as Ultrashort Bond, while GLDM is Gold. SGOV tracks ICE 0-3 Month US Treasury Securities Index, while GLDM tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for SGOV and 0.10% for GLDM.
SGOV currently has the higher Sharpe Ratio (20.28 vs 1.15), 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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