VAW vs. GLD
Compare and contrast key facts about Vanguard Materials ETF (VAW) and SPDR Gold Shares (GLD).
VAW and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VAW is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Materials 25/50 Index. It was launched on Jan 26, 2004. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004. Both VAW and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
VAW vs. GLD - Performance Comparison
Loading graphics...
VAW vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VAW Vanguard Materials ETF | 8.97% | 12.30% | 0.48% | 13.67% | -11.80% | 27.43% | 19.44% | 23.53% | -17.49% | 23.76% |
GLD SPDR Gold Shares | 8.57% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Returns By Period
The year-to-date returns for both stocks are quite close, with VAW having a 8.97% return and GLD slightly lower at 8.57%. Over the past 10 years, VAW has underperformed GLD with an annualized return of 10.55%, while GLD has yielded a comparatively higher 13.92% annualized return.
VAW
- 1D
- 2.34%
- 1M
- -7.36%
- YTD
- 8.97%
- 6M
- 10.84%
- 1Y
- 21.22%
- 3Y*
- 10.04%
- 5Y*
- 7.09%
- 10Y*
- 10.55%
GLD
- 1D
- 3.79%
- 1M
- -11.05%
- YTD
- 8.57%
- 6M
- 21.05%
- 1Y
- 49.33%
- 3Y*
- 32.92%
- 5Y*
- 21.58%
- 10Y*
- 13.92%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
VAW vs. GLD - Expense Ratio Comparison
VAW has a 0.10% expense ratio, which is lower than GLD's 0.40% expense ratio.
Return for Risk
VAW vs. GLD — Risk / Return Rank
VAW
GLD
VAW vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Materials ETF (VAW) 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.
| VAW | GLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 1.79 | -0.79 |
Sortino ratioReturn per unit of downside risk | 1.51 | 2.21 | -0.70 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.33 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.68 | -1.12 |
Martin ratioReturn relative to average drawdown | 5.38 | 9.90 | -4.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| VAW | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 1.79 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 1.22 | -0.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.88 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.62 | -0.23 |
Correlation
The correlation between VAW and GLD is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VAW vs. GLD - Dividend Comparison
VAW's dividend yield for the trailing twelve months is around 1.41%, while GLD has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VAW Vanguard Materials ETF | 1.41% | 1.55% | 1.70% | 1.72% | 1.98% | 1.44% | 1.67% | 1.94% | 2.03% | 1.63% | 1.67% | 2.30% |
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% |
Drawdowns
VAW vs. GLD - Drawdown Comparison
The maximum VAW drawdown since its inception was -62.17%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for VAW and GLD.
Loading graphics...
Drawdown Indicators
| VAW | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.17% | -45.56% | -16.61% |
Max Drawdown (1Y)Largest decline over 1 year | -14.33% | -19.21% | +4.88% |
Max Drawdown (5Y)Largest decline over 5 years | -25.50% | -21.03% | -4.47% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -22.00% | -19.13% |
Current DrawdownCurrent decline from peak | -7.36% | -13.23% | +5.87% |
Average DrawdownAverage peak-to-trough decline | -9.67% | -16.17% | +6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 5.20% | -1.05% |
Volatility
VAW vs. GLD - Volatility Comparison
The current volatility for Vanguard Materials ETF (VAW) is 7.07%, while SPDR Gold Shares (GLD) has a volatility of 11.06%. This indicates that VAW 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.
Loading graphics...
Volatility by Period
| VAW | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 11.06% | -3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 13.34% | 24.30% | -10.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.39% | 27.80% | -6.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.56% | 17.74% | +1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.14% | 15.87% | +5.27% |