SOXQ vs. GLDM

Last updated Jun 12, 2026

SOXQ (Invesco PHLX Semiconductor ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, SOXQ returned 33.82%/yr vs 17.39%/yr for GLDM. At a 0.12 correlation, their price movements are largely independent. SOXQ charges 0.19%/yr vs 0.10%/yr for GLDM.

Performance

SOXQ vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco PHLX Semiconductor ETF (SOXQ) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXQ achieves a 86.16% return, which is significantly higher than GLDM's -2.51% return.

SOXQ

• 1D: 7.93%
• 1M: 12.42%
• YTD: 86.16%
• 6M: 77.88%
• 1Y: 153.11%
• 3Y*: 54.47%
• 5Y*: 33.82%
• 10Y*: —

GLDM

• 1D: 3.05%
• 1M: -10.81%
• YTD: -2.51%
• 6M: -1.65%
• 1Y: 25.59%
• 3Y*: 28.90%
• 5Y*: 17.39%
• 10Y*: —

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

SOXQ vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SOXQ Invesco PHLX Semiconductor ETF	86.16%	43.11%	20.16%	66.74%	-35.59%	25.19%
GLDM SPDR Gold MiniShares Trust	-2.51%	64.20%	27.08%	13.04%	-0.47%	-3.76%

Correlation

The correlation between SOXQ and GLDM is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021	0.12

The correlation between SOXQ and GLDM shifts across timeframes, from 0.12 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

SOXQ vs. GLDM - Sectors Allocation Comparison

Sectors	SOXQ	GLDM
Technology	100.0%	-
Financial Services	0.0%	-
Basic Materials	-	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SOXQ vs. GLDM — Risk / Return Rank

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

SOXQ

SOXQ Risk / Return Rank: 96
SOXQ Sharpe Ratio Rank: 97
SOXQ Sortino Ratio Rank: 94
SOXQ Omega Ratio Rank: 94
SOXQ Calmar Ratio Rank: 97
SOXQ Martin Ratio Rank: 97

GLDM

GLDM Risk / Return Rank: 30
GLDM Sharpe Ratio Rank: 31
GLDM Sortino Ratio Rank: 29
GLDM Omega Ratio Rank: 35
GLDM Calmar Ratio Rank: 27
GLDM 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.

SOXQ vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco PHLX Semiconductor ETF (SOXQ) 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.

	SOXQ	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	4.19	0.95	+3.24
Sortino ratio: Return per unit of downside risk	4.20	1.32	+2.88
Omega ratio: Gain probability vs. loss probability	1.59	1.20	+0.40
Calmar ratio: Return relative to maximum drawdown	9.88	1.06	+8.83
Martin ratio: Return relative to average drawdown	35.94	3.08	+32.86

SOXQ vs. GLDM - Sharpe Ratio Comparison

The current SOXQ Sharpe Ratio is 4.19, which is higher than the GLDM Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of SOXQ and GLDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SOXQ vs. GLDM - Drawdown Comparison

The maximum SOXQ drawdown since its inception was -46.01%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for SOXQ and GLDM.

Drawdown Indicators

	SOXQ	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-46.01%	-24.35%	-21.66%
Max Drawdown (1Y) Largest decline over 1 year	-15.59%	-24.35%	+8.76%
Max Drawdown (3Y) Largest decline over 3 years	-39.36%	-24.35%	-15.01%
Max Drawdown (5Y) Largest decline over 5 years	-46.01%	-24.35%	-21.66%
Current Drawdown Current decline from peak	-5.37%	-22.05%	+16.68%
Average Drawdown Average peak-to-trough decline	-12.92%	-6.26%	-6.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	8.33%	-4.05%

Volatility

SOXQ vs. GLDM - Volatility Comparison

Invesco PHLX Semiconductor ETF (SOXQ) has a higher volatility of 18.87% compared to SPDR Gold MiniShares Trust (GLDM) at 7.71%. This indicates that SOXQ's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXQ	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.87%	7.71%	+11.16%
Volatility (6M) Calculated over the trailing 6-month period	30.66%	23.93%	+6.73%
Volatility (1Y) Calculated over the trailing 1-year period	36.78%	27.15%	+9.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.90%	18.13%	+18.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.88%	16.98%	+19.90%

SOXQ vs. GLDM - Expense Ratio Comparison

SOXQ has a 0.19% 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

SOXQ vs. GLDM - Dividend Comparison

SOXQ's dividend yield for the trailing twelve months is around 0.27%, while GLDM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
GLDM SPDR Gold MiniShares Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXQ Invesco PHLX Semiconductor ETF	0.27%	0.50%	0.68%	0.87%	1.36%	0.72%

Frequently Asked Questions

Can I hold both SOXQ and GLDM in my portfolio?

SOXQ and GLDM have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXQ or GLDM?

SOXQ has higher volatility (18.87%) compared to GLDM (7.71%). In terms of maximum drawdown, SOXQ dropped -46.01% vs GLDM's -24.35%.

Which ETF is better, SOXQ or GLDM?

On 5-year performance, SOXQ leads with 33.82% vs 17.39% for GLDM. On fees, GLDM is cheaper at 0.10% per year. On volatility, GLDM has been the lower-risk option at 7.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXQ or GLDM?

Over the 5-year period, SOXQ has performed better with a 33.82% return vs 17.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXQ or GLDM?

GLDM is cheaper with a 0.10% expense ratio, compared with 0.19% for SOXQ.

Which ETF pays a higher dividend yield, SOXQ or GLDM?

SOXQ has the higher dividend yield at 0.27%, compared with 0.00% for GLDM.

What is the main difference between SOXQ and GLDM?

SOXQ is categorized as Semiconductors, while GLDM is Gold. SOXQ tracks PHLX Semiconductor Sector Index, while GLDM tracks LBMA Gold Price PM. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.19% for SOXQ and 0.10% for GLDM.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (4.19 vs 0.95), 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.