USGO vs. GLD
USGO (U.S. GoldMining Inc) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 3 years, USGO returned -16.22%/yr vs 27.44%/yr for GLD. At a 0.26 correlation, their price movements are largely independent.
Performance
USGO vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, USGO achieves a -9.98% return, which is significantly lower than GLD's -6.77% return.
USGO
- 1D
- -1.49%
- 1M
- -27.42%
- YTD
- -9.98%
- 6M
- -17.55%
- 1Y
- -13.32%
- 3Y*
- -16.22%
- 5Y*
- —
- 10Y*
- —
GLD
- 1D
- 0.97%
- 1M
- -10.76%
- YTD
- -6.77%
- 6M
- -10.31%
- 1Y
- 20.30%
- 3Y*
- 27.44%
- 5Y*
- 17.27%
- 10Y*
- 11.30%
USGO vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USGO U.S. GoldMining Inc | -9.98% | 2.44% | 17.86% | -23.11% |
GLD SPDR Gold Shares | -6.77% | 63.68% | 26.66% | 3.13% |
Correlation
The correlation between USGO and GLD is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2023 | 0.26 |
The correlation between USGO and GLD shifts across timeframes, from 0.26 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
USGO vs. GLD — Risk / Return Rank
USGO
GLD
USGO vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for U.S. GoldMining Inc (USGO) 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.
| USGO | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.16 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 0.78 | -1.04 |
| Martin ratioReturn relative to average drawdown | -0.55 | 2.17 | -2.72 |
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Drawdowns
USGO vs. GLD - Drawdown Comparison
The maximum USGO drawdown since its inception was -69.34%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for USGO and GLD.
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Drawdown Indicators
| USGO | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.34% | -45.56% | -23.78% |
Max Drawdown (1Y)Largest decline over 1 year | -51.04% | -26.21% | -24.83% |
Max Drawdown (3Y)Largest decline over 3 years | -63.19% | -26.21% | -36.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.21% | — |
Current DrawdownCurrent decline from peak | -50.71% | -25.50% | -25.21% |
Average DrawdownAverage peak-to-trough decline | -42.26% | -16.17% | -26.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.28% | 9.38% | +14.90% |
Volatility
USGO vs. GLD - Volatility Comparison
U.S. GoldMining Inc (USGO) has a higher volatility of 16.01% compared to SPDR Gold Shares (GLD) at 8.70%. This indicates that USGO's price experiences larger fluctuations and is considered to be riskier 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
| USGO | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.01% | 8.70% | +7.31% |
Volatility (6M)Calculated over the trailing 6-month period | 53.58% | 24.48% | +29.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.24% | 27.71% | +44.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.94% | 18.30% | +61.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.94% | 16.07% | +63.87% |
Dividends
USGO vs. GLD - Dividend Comparison
Neither USGO nor GLD has paid dividends to shareholders.
Frequently Asked Questions
USGO and GLD have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USGO has higher volatility (16.01%) compared to GLD (8.70%). In terms of maximum drawdown, USGO dropped -69.34% vs GLD's -45.56%.
GLD currently has the higher Sharpe Ratio (0.74 vs -0.19), 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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