TIPX vs. GLDM
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - TIPX is a Inflation-Protected Bonds fund tracking the Bloomberg US Govt Inflation-Linked (1-10 Y), while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, TIPX returned 2.26%/yr vs 18.49%/yr for GLDM. At a 0.40 correlation, their price movements are largely independent. TIPX charges 0.15%/yr vs 0.10%/yr for GLDM.
Performance
TIPX vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.72% return, which is significantly lower than GLDM's 3.00% return.
TIPX
- 1D
- -0.05%
- 1M
- -0.17%
- YTD
- 1.72%
- 6M
- 1.48%
- 1Y
- 5.04%
- 3Y*
- 4.84%
- 5Y*
- 2.26%
- 10Y*
- 2.97%
GLDM
- 1D
- -0.96%
- 1M
- -1.62%
- YTD
- 3.00%
- 6M
- 5.60%
- 1Y
- 32.42%
- 3Y*
- 31.49%
- 5Y*
- 18.49%
- 10Y*
- —
TIPX vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.72% | 7.15% | 3.08% | 4.43% | -7.58% | 5.42% | 8.51% | 6.60% | -0.33% |
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 TIPX 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 | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.40 |
The correlation between TIPX and GLDM shifts across timeframes, from 0.26 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TIPX vs. GLDM — Risk / Return Rank
TIPX
GLDM
TIPX vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) 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.
| TIPX | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 1.70 | +2.22 |
| Martin ratioReturn relative to average drawdown | 13.22 | 4.23 | +8.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIPX | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 1.24 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 1.04 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.02 | -0.51 |
Drawdowns
TIPX vs. GLDM - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, smaller than the maximum GLDM drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for TIPX and GLDM.
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Drawdown Indicators
| TIPX | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -21.63% | +11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -19.14% | +17.85% |
Max Drawdown (3Y)Largest decline over 3 years | -2.45% | -19.14% | +16.69% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | -20.92% | +10.86% |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -17.65% | +17.35% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -6.22% | +3.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 7.69% | -7.31% |
Volatility
TIPX vs. GLDM - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) is 0.74%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 5.47%. This indicates that TIPX 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.
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Volatility by Period
| TIPX | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 5.47% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 22.99% | -21.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 26.39% | -23.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 17.91% | -13.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 16.85% | -12.48% |
TIPX vs. GLDM - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is higher than GLDM's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TIPX vs. GLDM - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 4.54%, 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% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 4.54% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
Frequently Asked Questions
TIPX 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 TIPX (0.74%). In terms of maximum drawdown, TIPX dropped -10.06% vs GLDM's -21.63%.
On 5-year performance, GLDM leads with 18.49% vs 2.26% for TIPX. On fees, GLDM is cheaper at 0.10% per year. On volatility, TIPX has been the lower-risk option at 0.74%. 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 2.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.15% for TIPX.
TIPX has the higher dividend yield at 4.54%, compared with 0.00% for GLDM.
TIPX is categorized as Inflation-Protected Bonds, while GLDM is Gold. TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while GLDM tracks LBMA Gold Price PM. Their fees differ too: 0.15% for TIPX and 0.10% for GLDM.
TIPX currently has the higher Sharpe Ratio (1.94 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.
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