TOTL vs. GLD
TOTL (State Street DoubleLine Total Return Tactical ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - TOTL is a Intermediate Core-Plus Bond fund actively managed by State Street, while GLD is a Gold fund tracking the LBMA Gold Price PM. TOTL is actively managed, while GLD is passively managed. Over the past 10 years, TOTL returned 1.57%/yr vs 11.59%/yr for GLD. At a 0.32 correlation, their price movements are largely independent. TOTL charges 0.55%/yr vs 0.40%/yr for GLD.
Performance
TOTL vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, TOTL achieves a -0.54% return, which is significantly higher than GLD's -4.79% return. Over the past 10 years, TOTL has underperformed GLD with an annualized return of 1.57%, while GLD has yielded a comparatively higher 11.59% annualized return.
TOTL
- 1D
- -0.15%
- 1M
- 0.18%
- YTD
- -0.54%
- 6M
- -0.42%
- 1Y
- 3.57%
- 3Y*
- 4.13%
- 5Y*
- 0.58%
- 10Y*
- 1.57%
GLD
- 1D
- -1.89%
- 1M
- -8.82%
- YTD
- -4.79%
- 6M
- -8.78%
- 1Y
- 21.29%
- 3Y*
- 28.41%
- 5Y*
- 17.84%
- 10Y*
- 11.59%
TOTL vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TOTL State Street DoubleLine Total Return Tactical ETF | -0.54% | 7.68% | 3.15% | 5.55% | -11.59% | -1.00% | 3.56% | 6.93% | 0.76% | 3.55% |
GLD SPDR Gold Shares | -4.79% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between TOTL and GLD is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2015 | 0.32 |
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Return for Risk
TOTL vs. GLD — Risk / Return Rank
TOTL
GLD
TOTL vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street DoubleLine Total Return Tactical ETF (TOTL) 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.
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.
| TOTL | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 0.87 | +0.31 |
| Martin ratioReturn relative to average drawdown | 3.30 | 2.35 | +0.95 |
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Drawdowns
TOTL vs. GLD - Drawdown Comparison
The maximum TOTL drawdown since its inception was -16.48%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for TOTL and GLD.
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Drawdown Indicators
| TOTL | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -45.56% | +29.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -24.46% | +21.42% |
Max Drawdown (3Y)Largest decline over 3 years | -6.60% | -24.46% | +17.86% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -24.46% | +7.98% |
Max Drawdown (10Y)Largest decline over 10 years | -16.48% | -24.46% | +7.98% |
Current DrawdownCurrent decline from peak | -2.16% | -23.91% | +21.75% |
Average DrawdownAverage peak-to-trough decline | -3.12% | -16.17% | +13.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 9.10% | -8.01% |
Volatility
TOTL vs. GLD - Volatility Comparison
The current volatility for State Street DoubleLine Total Return Tactical ETF (TOTL) is 1.12%, while SPDR Gold Shares (GLD) has a volatility of 8.18%. This indicates that TOTL experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TOTL | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 8.18% | -7.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 24.38% | -21.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 27.57% | -24.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.60% | 18.24% | -12.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 16.04% | -11.25% |
TOTL vs. GLD - Expense Ratio Comparison
TOTL has a 0.55% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
TOTL vs. GLD - Dividend Comparison
TOTL's dividend yield for the trailing twelve months is around 5.30%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TOTL State Street DoubleLine Total Return Tactical ETF | 5.30% | 5.23% | 5.35% | 4.85% | 4.68% | 3.07% | 2.91% | 3.31% | 3.41% | 3.00% | 3.25% | 2.67% |
Frequently Asked Questions
TOTL and GLD have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.18%) compared to TOTL (1.12%). In terms of maximum drawdown, TOTL dropped -16.48% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.59% vs 1.57% for TOTL. On fees, GLD is cheaper at 0.40% per year. On volatility, TOTL has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.59% return vs 1.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.55% for TOTL.
TOTL has the higher dividend yield at 5.30%, compared with 0.00% for GLD.
TOTL is categorized as Intermediate Core-Plus Bond, while GLD is Gold. Their fees differ too: 0.55% for TOTL and 0.40% for GLD.
TOTL currently has the higher Sharpe Ratio (1.04 vs 0.78), 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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