UNH vs. GLDM

Last updated Jun 13, 2026

UNH (UnitedHealth Group Incorporated) is a stock, while GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, UNH returned 2.27%/yr vs 17.41%/yr for GLDM. At a 0.03 correlation, their price movements are largely independent.

Performance

UNH vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UnitedHealth Group Incorporated (UNH) 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, UNH achieves a 24.71% return, which is significantly higher than GLDM's -2.40% return.

UNH

• 1D: 0.73%
• 1M: 3.72%
• YTD: 24.71%
• 6M: 20.44%
• 1Y: 33.97%
• 3Y*: -4.10%
• 5Y*: 2.27%
• 10Y*: 13.32%

GLDM

• 1D: 0.11%
• 1M: -7.40%
• YTD: -2.40%
• 6M: -2.09%
• 1Y: 22.58%
• 3Y*: 29.27%
• 5Y*: 17.41%
• 10Y*: —

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

UNH vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UNH UnitedHealth Group Incorporated	24.71%	-33.14%	-2.41%	0.80%	6.94%	45.20%	21.25%	20.00%	0.02%
GLDM SPDR Gold MiniShares Trust	-2.40%	64.20%	27.08%	13.04%	-0.47%	-4.01%	25.10%	18.10%	1.75%

Correlation

The correlation between UNH and GLDM is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018	0.03

Return for Risk

UNH vs. GLDM — Risk / Return Rank

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

UNH

UNH Risk / Return Rank: 66
UNH Sharpe Ratio Rank: 69
UNH Sortino Ratio Rank: 62
UNH Omega Ratio Rank: 67
UNH Calmar Ratio Rank: 65
UNH Martin Ratio Rank: 65

GLDM

GLDM Risk / Return Rank: 27
GLDM Sharpe Ratio Rank: 28
GLDM Sortino Ratio Rank: 25
GLDM Omega Ratio Rank: 31
GLDM Calmar Ratio Rank: 24
GLDM Martin Ratio Rank: 25

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.

UNH vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UnitedHealth Group Incorporated (UNH) 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.

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.

	UNH	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	0.80	0.90	-0.10
Sortino ratio: Return per unit of downside risk	1.26	1.26	0.00
Omega ratio: Gain probability vs. loss probability	1.19	1.19	0.00
Calmar ratio: Return relative to maximum drawdown	1.11	1.00	+0.11
Martin ratio: Return relative to average drawdown	2.43	2.87	-0.44

UNH vs. GLDM - Sharpe Ratio Comparison

The current UNH Sharpe Ratio is 0.80, which is comparable to the GLDM Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of UNH and GLDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UNH vs. GLDM - Drawdown Comparison

The maximum UNH drawdown since its inception was -74.37%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for UNH and GLDM.

Drawdown Indicators

	UNH	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-74.37%	-24.35%	-50.02%
Max Drawdown (1Y) Largest decline over 1 year	-28.96%	-24.35%	-4.61%
Max Drawdown (3Y) Largest decline over 3 years	-61.39%	-24.35%	-37.04%
Max Drawdown (5Y) Largest decline over 5 years	-61.39%	-24.35%	-37.04%
Max Drawdown (10Y) Largest decline over 10 years	-61.39%	—	—
Current Drawdown Current decline from peak	-32.27%	-21.96%	-10.31%
Average Drawdown Average peak-to-trough decline	-14.77%	-6.27%	-8.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	8.44%	+4.75%

Volatility

UNH vs. GLDM - Volatility Comparison

UnitedHealth Group Incorporated (UNH) and SPDR Gold MiniShares Trust (GLDM) have volatilities of 7.60% and 7.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UNH	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	7.73%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	30.86%	23.93%	+6.93%
Volatility (1Y) Calculated over the trailing 1-year period	40.10%	27.15%	+12.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.87%	18.13%	+13.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.18%	16.98%	+13.20%

Dividends

UNH vs. GLDM - Dividend Comparison

UNH's dividend yield for the trailing twelve months is around 2.16%, 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%
UNH UnitedHealth Group Incorporated	2.16%	2.64%	1.62%	1.38%	1.21%	1.12%	1.38%	1.41%	1.38%	1.30%	1.48%	1.59%

Frequently Asked Questions

Can I hold both UNH and GLDM in my portfolio?

UNH and GLDM have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UNH or GLDM?

GLDM has higher volatility (7.73%) compared to UNH (7.60%). In terms of maximum drawdown, UNH dropped -74.37% vs GLDM's -24.35%.

Which has better risk-adjusted returns?

GLDM currently has the higher Sharpe Ratio (0.90 vs 0.80), 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.