SPTU vs. GLDM

Last updated Apr 12, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds — SPTU is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill Index, while GLDM is a Precious Metals fund tracking the LBMA Gold PM Price. Both are passively managed. At -0.01, they often move in opposite directions. SPTU charges 0.05%/yr vs 0.10%/yr for GLDM.

Performance

SPTU vs. GLDM - 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 MiniShares Trust (GLDM). 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 GLDM's 10.35% return.

SPTU

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

GLDM

• 1D: -0.18%
• 1M: -6.35%
• YTD: 10.35%
• 6M: 18.59%
• 1Y: 47.18%
• 3Y*: 33.29%
• 5Y*: 22.11%
• 10Y*: —

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

SPTU vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	0.97%	0.92%
GLDM SPDR Gold MiniShares Trust	10.35%	6.59%

Correlation

The correlation between SPTU and GLDM 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. GLDM — Risk / Return Rank

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

GLDM

GLDM Risk / Return Rank: 44
GLDM Sharpe Ratio Rank: 45
GLDM Sortino Ratio Rank: 35
GLDM Omega Ratio Rank: 44
GLDM Calmar Ratio Rank: 48
GLDM Martin Ratio Rank: 47

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. GLDM - 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 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.

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

Sharpe Ratios by Period

	SPTU	GLDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.86	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.12	1.10	+11.02

Drawdowns

SPTU vs. GLDM - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum GLDM drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for SPTU and GLDM.

Drawdown Indicators

	SPTU	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-21.63%	+21.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.92%	—
Current Drawdown Current decline from peak	0.00%	-11.76%	+11.76%
Average Drawdown Average peak-to-trough decline	0.00%	-6.07%	+6.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.55%	—

Volatility

Volatility by Period

	SPTU	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	27.33%	-27.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	17.67%	-17.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	16.78%	-16.46%

SPTU vs. GLDM - Expense Ratio Comparison

SPTU has a 0.05% 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

SPTU vs. GLDM - Dividend Comparison

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

	TTM	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.76%	0.89%
GLDM SPDR Gold MiniShares Trust	0.00%	0.00%