TECH.AX vs. GXLD.AX
TECH.AX (Global X Morningstar Global Technology ETF) and GXLD.AX (Global X Gold Bullion ETF) are both exchange-traded funds - TECH.AX is a Technology Equities fund tracking the Global X Morningstar Global Technology Index, while GXLD.AX is a Gold fund tracking the Global X Gold Bullion Index. Both are passively managed. Over the past year, TECH.AX returned 10.92% vs 11.59% for GXLD.AX. At a correlation of -0.10, they often move in opposite directions.
Performance
TECH.AX vs. GXLD.AX - Performance Comparison
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Returns By Period
In the year-to-date period, TECH.AX achieves a 13.34% return, which is significantly higher than GXLD.AX's -11.66% return.
TECH.AX
- 1D
- -0.93%
- 1M
- -1.39%
- 6M
- 13.58%
- YTD
- 13.34%
- 1Y
- 10.92%
- 3Y*
- 13.91%
- 5Y*
- 9.17%
- 10Y*
- —
GXLD.AX
- 1D
- -0.17%
- 1M
- -5.54%
- 6M
- -17.02%
- YTD
- -11.66%
- 1Y
- 11.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TECH.AX vs. GXLD.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TECH.AX Global X Morningstar Global Technology ETF | 13.34% | 0.78% | 18.98% |
GXLD.AX Global X Gold Bullion ETF | -11.66% | 54.77% | 17.24% |
Correlation
The correlation between TECH.AX and GXLD.AX is -0.02, 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 (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 2, 2024 | -0.10 |
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Return for Risk
TECH.AX vs. GXLD.AX — Risk / Return Rank
TECH.AX
GXLD.AX
TECH.AX vs. GXLD.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Morningstar Global Technology ETF (TECH.AX) and Global X Gold Bullion ETF (GXLD.AX). 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.
| TECH.AX | GXLD.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.11 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.47 | -0.02 |
| Martin ratioReturn relative to average drawdown | 0.99 | 1.08 | -0.09 |
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Drawdowns
TECH.AX vs. GXLD.AX - Drawdown Comparison
The maximum TECH.AX drawdown since its inception was -31.78%, which is greater than GXLD.AX's maximum drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for TECH.AX and GXLD.AX.
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Drawdown Indicators
| TECH.AX | GXLD.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.78% | -24.63% | -7.15% |
Max Drawdown (1Y)Largest decline over 1 year | -26.30% | -24.63% | -1.67% |
Max Drawdown (3Y)Largest decline over 3 years | -26.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.78% | — | — |
Current DrawdownCurrent decline from peak | -6.24% | -24.63% | +18.39% |
Average DrawdownAverage peak-to-trough decline | -7.73% | -5.14% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.27% | 10.98% | +1.29% |
Volatility
TECH.AX vs. GXLD.AX - Volatility Comparison
Global X Morningstar Global Technology ETF (TECH.AX) has a higher volatility of 6.78% compared to Global X Gold Bullion ETF (GXLD.AX) at 6.13%. This indicates that TECH.AX's price experiences larger fluctuations and is considered to be riskier than GXLD.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECH.AX | GXLD.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.78% | 6.13% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 18.70% | 20.99% | -2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.13% | 24.56% | -3.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.61% | 20.45% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | 20.45% | +0.58% |
Dividends
TECH.AX vs. GXLD.AX - Dividend Comparison
TECH.AX's dividend yield for the trailing twelve months is around 3.40%, while GXLD.AX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GXLD.AX Global X Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECH.AX Global X Morningstar Global Technology ETF | 3.40% | 11.08% | 6.23% | 0.50% | 4.95% | 13.65% | 7.67% | 7.75% | 6.07% | 0.84% |
Frequently Asked Questions
TECH.AX and GXLD.AX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECH.AX is categorized as Technology Equities, while GXLD.AX is Gold. TECH.AX tracks Global X Morningstar Global Technology Index, while GXLD.AX tracks Global X Gold Bullion Index.
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