VSS vs. GLTR

Last updated Jun 9, 2026

VSS (Vanguard FTSE All-World ex-US Small-Cap ETF) and GLTR (Aberdeen Standard Physical Precious Metals Basket Shares ETF) are both exchange-traded funds - VSS is a Foreign Small & Mid Cap Equities fund tracking the FTSE Global Small Cap ex US Index, while GLTR is a Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index. Both are passively managed. Over the past 10 years, VSS returned 7.98%/yr vs 12.31%/yr for GLTR. At a 0.36 correlation, their price movements are largely independent. VSS charges 0.07%/yr vs 0.60%/yr for GLTR.

Performance

VSS vs. GLTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSS achieves a 7.74% return, which is significantly higher than GLTR's -3.01% return. Over the past 10 years, VSS has underperformed GLTR with an annualized return of 7.98%, while GLTR has yielded a comparatively higher 12.31% annualized return.

VSS

• 1D: 0.02%
• 1M: -4.88%
• YTD: 7.74%
• 6M: 10.30%
• 1Y: 22.83%
• 3Y*: 15.44%
• 5Y*: 5.25%
• 10Y*: 7.98%

GLTR

• 1D: 0.02%
• 1M: -11.67%
• YTD: -3.01%
• 6M: 6.38%
• 1Y: 45.14%
• 3Y*: 30.24%
• 5Y*: 14.39%
• 10Y*: 12.31%

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

VSS vs. GLTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	7.74%	29.61%	2.94%	15.52%	-21.48%	13.05%	11.81%	21.36%	-18.48%	30.61%
GLTR Aberdeen Standard Physical Precious Metals Basket Shares ETF	-3.01%	87.25%	20.63%	2.01%	-0.25%	-9.60%	29.52%	20.96%	-2.85%	12.94%

Correlation

The correlation between VSS and GLTR is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 22, 2010	0.36

The correlation between VSS and GLTR shifts across timeframes, from 0.36 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VSS vs. GLTR — Risk / Return Rank

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

VSS

VSS Risk / Return Rank: 47
VSS Sharpe Ratio Rank: 48
VSS Sortino Ratio Rank: 46
VSS Omega Ratio Rank: 49
VSS Calmar Ratio Rank: 44
VSS Martin Ratio Rank: 49

GLTR

GLTR Risk / Return Rank: 34
GLTR Sharpe Ratio Rank: 37
GLTR Sortino Ratio Rank: 31
GLTR Omega Ratio Rank: 43
GLTR Calmar Ratio Rank: 34
GLTR Martin Ratio Rank: 27

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.

VSS vs. GLTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR). 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.

	VSS	GLTR	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.19	+0.31
Sortino ratio: Return per unit of downside risk	2.06	1.52	+0.54
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	1.97	1.51	+0.47
Martin ratio: Return relative to average drawdown	7.54	3.41	+4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSS vs. GLTR - Sharpe Ratio Comparison

The current VSS Sharpe Ratio is 1.50, which is comparable to the GLTR Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of VSS and GLTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VSS	GLTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.19	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.61	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.60	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.31	+0.23

Drawdowns

VSS vs. GLTR - Drawdown Comparison

The maximum VSS drawdown since its inception was -43.51%, smaller than the maximum GLTR drawdown of -55.70%. Use the drawdown chart below to compare losses from any high point for VSS and GLTR.

Drawdown Indicators

	VSS	GLTR	Difference
Max Drawdown Largest peak-to-trough decline	-43.51%	-55.70%	+12.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.62%	-30.10%	+18.48%
Max Drawdown (3Y) Largest decline over 3 years	-15.73%	-30.10%	+14.37%
Max Drawdown (5Y) Largest decline over 5 years	-33.93%	-30.10%	-3.83%
Max Drawdown (10Y) Largest decline over 10 years	-43.51%	-30.10%	-13.41%
Current Drawdown Current decline from peak	-5.08%	-30.08%	+25.00%
Average Drawdown Average peak-to-trough decline	-9.64%	-28.83%	+19.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	13.25%	-10.21%

Volatility

VSS vs. GLTR - Volatility Comparison

The current volatility for Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) is 5.87%, while Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) has a volatility of 9.50%. This indicates that VSS experiences smaller price fluctuations and is considered to be less risky than GLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSS	GLTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	9.50%	-3.63%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	35.83%	-22.65%
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	38.04%	-22.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	23.75%	-7.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	20.57%	-3.27%

VSS vs. GLTR - Expense Ratio Comparison

VSS has a 0.07% expense ratio, which is lower than GLTR's 0.60% expense ratio.

Dividends

VSS vs. GLTR - Dividend Comparison

VSS's dividend yield for the trailing twelve months is around 3.15%, while GLTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLTR Aberdeen Standard Physical Precious Metals Basket Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	3.15%	3.39%	3.44%	3.14%	2.30%	2.74%	1.90%	3.25%	2.80%	2.83%	2.93%	2.66%

Frequently Asked Questions

Can I hold both VSS and GLTR in my portfolio?

VSS and GLTR have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSS or GLTR?

GLTR has higher volatility (9.50%) compared to VSS (5.87%). In terms of maximum drawdown, VSS dropped -43.51% vs GLTR's -55.70%.

Which ETF is better, VSS or GLTR?

On 10-year performance, GLTR leads with 12.31% vs 7.98% for VSS. On fees, VSS is cheaper at 0.07% per year. On volatility, VSS has been the lower-risk option at 5.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSS or GLTR?

Over the 10-year period, GLTR has performed better with a 12.31% return vs 7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSS or GLTR?

VSS is cheaper with a 0.07% expense ratio, compared with 0.60% for GLTR.

Which ETF pays a higher dividend yield, VSS or GLTR?

VSS has the higher dividend yield at 3.15%, compared with 0.00% for GLTR.

What is the main difference between VSS and GLTR?

VSS is categorized as Foreign Small & Mid Cap Equities, while GLTR is Precious Metals. VSS tracks FTSE Global Small Cap ex US Index, while GLTR tracks ETFS Physical Precious Metals Basket Index. They also come from different issuers: Vanguard and Aberdeen. Their fees differ too: 0.07% for VSS and 0.60% for GLTR.

Which has better risk-adjusted returns?

VSS currently has the higher Sharpe Ratio (1.50 vs 1.19), 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.