SPLB vs. GLDM

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and SPDR Gold MiniShares Trust (GLDM).

SPLB and GLDM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPLB is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays Long U.S. Corporate Index. It was launched on Mar 10, 2009. GLDM is a passively managed fund by State Street that tracks the performance of the LBMA Gold PM Price. It was launched on Jun 25, 2018. Both SPLB and GLDM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPLB vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

SPLB vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPLB SPDR Portfolio Long Term Corporate Bond ETF	-0.71%	7.05%	-1.74%	11.20%	-25.68%	-1.99%	13.47%	23.49%	0.29%
GLDM SPDR Gold MiniShares Trust	8.57%	64.20%	27.08%	13.04%	-0.47%	-4.01%	25.10%	18.10%	1.84%

Returns By Period

In the year-to-date period, SPLB achieves a -0.71% return, which is significantly lower than GLDM's 8.57% return.

SPLB

• 1D: 0.77%
• 1M: -3.01%
• YTD: -0.71%
• 6M: -1.36%
• 1Y: 3.79%
• 3Y*: 3.08%
• 5Y*: -1.80%
• 10Y*: 2.39%

GLDM

• 1D: 3.77%
• 1M: -10.99%
• YTD: 8.57%
• 6M: 21.24%
• 1Y: 49.77%
• 3Y*: 33.33%
• 5Y*: 21.91%
• 10Y*: —

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

SPLB vs. GLDM - Expense Ratio Comparison

SPLB has a 0.07% 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%.

GLDM

SPDR Gold MiniShares Trust

SPLB

SPDR Portfolio Long Term Corporate Bond ETF

Return for Risk

SPLB vs. GLDM — Risk / Return Rank

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

SPLB

SPLB Risk / Return Rank: 25
SPLB Sharpe Ratio Rank: 24
SPLB Sortino Ratio Rank: 22
SPLB Omega Ratio Rank: 21
SPLB Calmar Ratio Rank: 33
SPLB Martin Ratio Rank: 25

GLDM

GLDM Risk / Return Rank: 88
GLDM Sharpe Ratio Rank: 89
GLDM Sortino Ratio Rank: 86
GLDM Omega Ratio Rank: 86
GLDM Calmar Ratio Rank: 89
GLDM Martin Ratio Rank: 88

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.

SPLB vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) 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.

	SPLB	GLDM	Difference
Sharpe ratio Return per unit of total volatility	0.38	1.82	-1.44
Sortino ratio Return per unit of downside risk	0.57	2.25	-1.69
Omega ratio Gain probability vs. loss probability	1.08	1.33	-0.26
Calmar ratio Return relative to maximum drawdown	0.78	2.71	-1.93
Martin ratio Return relative to average drawdown	1.80	10.04	-8.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPLB vs. GLDM - Sharpe Ratio Comparison

The current SPLB Sharpe Ratio is 0.38, which is lower than the GLDM Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of SPLB and GLDM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPLB	GLDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	1.82	-1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	1.25	-1.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.09	-0.65

Correlation

The correlation between SPLB and GLDM is 0.28, 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.

Dividends

SPLB vs. GLDM - Dividend Comparison

SPLB's dividend yield for the trailing twelve months is around 5.37%, while GLDM has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPLB SPDR Portfolio Long Term Corporate Bond ETF	5.37%	5.25%	5.20%	4.60%	4.53%	3.00%	3.01%	3.79%	4.50%	4.06%	4.34%	4.70%
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%

Drawdowns

SPLB vs. GLDM - Drawdown Comparison

The maximum SPLB drawdown since its inception was -34.46%, which is greater than GLDM's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for SPLB and GLDM.

Drawdown Indicators

	SPLB	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-34.46%	-21.63%	-12.83%
Max Drawdown (1Y) Largest decline over 1 year	-5.43%	-19.14%	+13.71%
Max Drawdown (5Y) Largest decline over 5 years	-34.46%	-20.92%	-13.54%
Max Drawdown (10Y) Largest decline over 10 years	-34.46%	—	—
Current Drawdown Current decline from peak	-15.92%	-13.19%	-2.73%
Average Drawdown Average peak-to-trough decline	-7.93%	-6.04%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	5.16%	-2.80%

Volatility

SPLB vs. GLDM - Volatility Comparison

The current volatility for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) is 4.02%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 11.01%. This indicates that SPLB 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.

Volatility by Period

	SPLB	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	11.01%	-6.99%
Volatility (6M) Calculated over the trailing 6-month period	5.67%	24.07%	-18.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.14%	27.57%	-17.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.74%	17.65%	-4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.95%	16.77%	-3.82%