SLX vs. GLD
Compare and contrast key facts about VanEck Vectors Steel ETF (SLX) and SPDR Gold Trust (GLD).
SLX and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SLX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Steel Index. It was launched on Oct 16, 2006. GLD is a passively managed fund by State Street that tracks the performance of the Gold Bullion. It was launched on Nov 18, 2004. Both SLX and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SLX or GLD.
Key characteristics
| SLX | GLD | |
|---|---|---|
| YTD Return | -7.15% | 29.28% |
| 1Y Return | 10.37% | 38.62% |
| 3Y Return (Ann) | 11.03% | 14.38% |
| 5Y Return (Ann) | 20.01% | 12.01% |
| 10Y Return (Ann) | 9.11% | 7.60% |
| Sharpe Ratio | 0.55 | 2.76 |
| Sortino Ratio | 0.87 | 3.71 |
| Omega Ratio | 1.11 | 1.48 |
| Calmar Ratio | 0.63 | 4.83 |
| Martin Ratio | 1.43 | 17.63 |
| Ulcer Index | 7.79% | 2.21% |
| Daily Std Dev | 20.41% | 14.10% |
| Max Drawdown | -82.15% | -45.56% |
| Current Drawdown | -8.52% | 0.00% |
Correlation
The correlation between SLX and GLD is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SLX vs. GLD - Performance Comparison
In the year-to-date period, SLX achieves a -7.15% return, which is significantly lower than GLD's 29.28% return. Over the past 10 years, SLX has outperformed GLD with an annualized return of 9.11%, while GLD has yielded a comparatively lower 7.60% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SLX vs. GLD - Expense Ratio Comparison
SLX has a 0.56% expense ratio, which is higher than GLD's 0.40% expense ratio.
Risk-Adjusted Performance
SLX vs. GLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Steel ETF (SLX) and SPDR Gold Trust (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.
Dividends
SLX vs. GLD - Dividend Comparison
SLX's dividend yield for the trailing twelve months is around 3.02%, while GLD has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLX VanEck Vectors Steel ETF | 3.02% | 2.80% | 4.97% | 7.07% | 1.87% | 2.76% | 6.25% | 2.43% | 1.06% | 5.34% | 3.26% | 1.97% |
GLD SPDR Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SLX vs. GLD - Drawdown Comparison
The maximum SLX drawdown since its inception was -82.15%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for SLX and GLD. For additional features, visit the drawdowns tool.
Volatility
SLX vs. GLD - Volatility Comparison
VanEck Vectors Steel ETF (SLX) has a higher volatility of 7.09% compared to SPDR Gold Trust (GLD) at 3.48%. This indicates that SLX'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.