SPTU vs. GLD

Last updated Apr 12, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds — SPTU is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. At -0.01, they often move in opposite directions. SPTU charges 0.05%/yr vs 0.40%/yr for GLD.

Performance

SPTU vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTU achieves a 0.97% return, which is significantly lower than GLD's 10.30% return.

SPTU

• 1D: 0.02%
• 1M: 0.31%
• YTD: 0.97%
• 6M: 1.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLD

• 1D: -0.18%
• 1M: -6.37%
• YTD: 10.30%
• 6M: 18.42%
• 1Y: 46.72%
• 3Y*: 32.89%
• 5Y*: 21.77%
• 10Y*: 13.80%

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

SPTU vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	0.97%	0.92%
GLD SPDR Gold Shares	10.30%	6.45%

Correlation

The correlation between SPTU and GLD 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 (All Time) Calculated using the full available price history since Oct 9, 2025	-0.01

Return for Risk

SPTU vs. GLD — Risk / Return Rank

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

GLD

GLD Risk / Return Rank: 43
GLD Sharpe Ratio Rank: 44
GLD Sortino Ratio Rank: 35
GLD Omega Ratio Rank: 44
GLD Calmar Ratio Rank: 47
GLD Martin Ratio Rank: 46

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.

SPTU vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and SPDR Gold Shares (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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPTU	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.82	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.12	0.63	+11.50

Drawdowns

SPTU vs. GLD - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for SPTU and GLD.

Drawdown Indicators

	SPTU	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-45.56%	+45.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.00%	—
Current Drawdown Current decline from peak	0.00%	-11.85%	+11.85%
Average Drawdown Average peak-to-trough decline	0.00%	-16.17%	+16.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.58%	—

Volatility

Volatility by Period

	SPTU	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	27.52%	-27.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	17.76%	-17.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	15.88%	-15.56%

SPTU vs. GLD - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than GLD's 0.40% expense ratio.

Dividends

SPTU vs. GLD - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 1.76%, while GLD has not paid dividends to shareholders.

	TTM	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.76%	0.89%
GLD SPDR Gold Shares	0.00%	0.00%