SPAB vs. GLDM
SPAB (SPDR Portfolio Aggregate Bond ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - SPAB is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, SPAB returned 0.07%/yr vs 18.49%/yr for GLDM. At a 0.34 correlation, their price movements are largely independent. SPAB charges 0.03%/yr vs 0.10%/yr for GLDM.
Performance
SPAB vs. GLDM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPAB achieves a 0.29% return, which is significantly lower than GLDM's 3.00% return.
SPAB
- 1D
- -0.12%
- 1M
- 0.31%
- YTD
- 0.29%
- 6M
- 0.14%
- 1Y
- 5.24%
- 3Y*
- 3.93%
- 5Y*
- 0.07%
- 10Y*
- 1.54%
GLDM
- 1D
- -0.96%
- 1M
- -1.62%
- YTD
- 3.00%
- 6M
- 5.60%
- 1Y
- 32.42%
- 3Y*
- 31.49%
- 5Y*
- 18.49%
- 10Y*
- —
SPAB vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 0.29% | 7.25% | 1.25% | 5.56% | -13.04% | -1.77% | 7.39% | 8.67% | 1.88% |
GLDM SPDR Gold MiniShares Trust | 3.00% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.84% |
Correlation
The correlation between SPAB and GLDM is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.34 |
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
SPAB vs. GLDM — Risk / Return Rank
SPAB
GLDM
SPAB vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) 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.
| SPAB | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.70 | +0.22 |
| Martin ratioReturn relative to average drawdown | 5.72 | 4.23 | +1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPAB | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 1.24 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 1.04 | -1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.02 | -0.51 |
Drawdowns
SPAB vs. GLDM - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, smaller than the maximum GLDM drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for SPAB and GLDM.
Loading charts...
Drawdown Indicators
| SPAB | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.56% | -21.63% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -19.14% | +16.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -19.14% | +13.06% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -20.92% | +2.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.56% | — | — |
Current DrawdownCurrent decline from peak | -2.27% | -17.65% | +15.38% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -6.22% | +3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 7.69% | -6.77% |
Volatility
SPAB vs. GLDM - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.15%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 5.47%. This indicates that SPAB 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
| SPAB | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 5.47% | -4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 22.99% | -20.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 26.39% | -22.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 17.91% | -11.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 16.85% | -11.31% |
SPAB vs. GLDM - Expense Ratio Comparison
SPAB has a 0.03% 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
SPAB vs. GLDM - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 4.05%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares 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% |
SPAB SPDR Portfolio Aggregate Bond ETF | 4.05% | 3.97% | 3.86% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.59% |
Frequently Asked Questions
SPAB and GLDM have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (5.47%) compared to SPAB (1.15%). In terms of maximum drawdown, SPAB dropped -18.56% vs GLDM's -21.63%.
On 5-year performance, GLDM leads with 18.49% vs 0.07% for SPAB. On fees, SPAB is cheaper at 0.03% per year. On volatility, SPAB has been the lower-risk option at 1.15%. 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 18.49% return vs 0.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPAB is cheaper with a 0.03% expense ratio, compared with 0.10% for GLDM.
SPAB has the higher dividend yield at 4.05%, compared with 0.00% for GLDM.
SPAB is categorized as Total Bond Market, while GLDM is Gold. SPAB tracks Bloomberg U.S. Aggregate Bond Index, while GLDM tracks LBMA Gold Price PM. Their fees differ too: 0.03% for SPAB and 0.10% for GLDM.
SPAB currently has the higher Sharpe Ratio (1.40 vs 1.24), 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 SPAB 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