WEAT vs. GLD

Last updated Jul 14, 2026

WEAT (Teucrium Wheat Fund) and GLD (SPDR Gold Shares) are both exchange-traded funds - WEAT is a Agricultural Commodities fund tracking the Teucrium Wheat Index (TWEAT), while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, WEAT returned -5.19%/yr vs 11.21%/yr for GLD. At a 0.10 correlation, their price movements are largely independent. WEAT charges 1.91%/yr vs 0.40%/yr for GLD.

Performance

WEAT vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teucrium Wheat Fund (WEAT) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEAT achieves a 18.48% return, which is significantly higher than GLD's -7.36% return. Over the past 10 years, WEAT has underperformed GLD with an annualized return of -5.19%, while GLD has yielded a comparatively higher 11.21% annualized return.

WEAT

• 1D: -0.25%
• 1M: 5.91%
• 6M: 17.19%
• YTD: 18.48%
• 1Y: 5.16%
• 3Y*: -10.32%
• 5Y*: -6.22%
• 10Y*: -5.19%

GLD

• 1D: -2.62%
• 1M: -5.02%
• 6M: -13.05%
• YTD: -7.36%
• 1Y: 18.76%
• 3Y*: 26.48%
• 5Y*: 16.50%
• 10Y*: 11.21%

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

WEAT vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WEAT Teucrium Wheat Fund	18.48%	-17.14%	-19.26%	-25.19%	7.98%	19.39%	5.81%	-1.35%	-1.17%	-12.79%
GLD SPDR Gold Shares	-7.36%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	-1.94%	12.81%

Correlation

The correlation between WEAT and GLD is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Sep 19, 2011	0.10

Return for Risk

WEAT vs. GLD — Risk / Return Rank

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

WEAT

WEAT Risk / Return Rank: 13
WEAT Sharpe Ratio Rank: 13
WEAT Sortino Ratio Rank: 14
WEAT Omega Ratio Rank: 13
WEAT Calmar Ratio Rank: 14
WEAT Martin Ratio Rank: 13

GLD

GLD Risk / Return Rank: 22
GLD Sharpe Ratio Rank: 23
GLD Sortino Ratio Rank: 22
GLD Omega Ratio Rank: 25
GLD Calmar Ratio Rank: 20
GLD Martin Ratio Rank: 20

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.

WEAT vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teucrium Wheat Fund (WEAT) 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.

	WEAT	GLD	Difference
Sharpe ratio: Return per unit of total volatility	0.24	0.68	-0.44
Sortino ratio: Return per unit of downside risk	0.54	1.01	-0.47
Omega ratio: Gain probability vs. loss probability	1.06	1.15	-0.09
Calmar ratio: Return relative to maximum drawdown	0.36	0.72	-0.36
Martin ratio: Return relative to average drawdown	0.69	1.76	-1.07

WEAT vs. GLD - Sharpe Ratio Comparison

The current WEAT Sharpe Ratio is 0.24, which is lower than the GLD Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of WEAT and GLD, 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

WEAT vs. GLD - Drawdown Comparison

The maximum WEAT drawdown since its inception was -84.32%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for WEAT and GLD.

Drawdown Indicators

	WEAT	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-84.32%	-45.56%	-38.76%
Max Drawdown (1Y) Largest decline over 1 year	-14.44%	-26.21%	+11.77%
Max Drawdown (3Y) Largest decline over 3 years	-46.27%	-26.21%	-20.06%
Max Drawdown (5Y) Largest decline over 5 years	-67.83%	-26.21%	-41.62%
Max Drawdown (10Y) Largest decline over 10 years	-67.83%	-26.21%	-41.62%
Current Drawdown Current decline from peak	-81.34%	-25.97%	-55.37%
Average Drawdown Average peak-to-trough decline	-63.24%	-16.19%	-47.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	10.69%	-3.23%

Volatility

WEAT vs. GLD - Volatility Comparison

The current volatility for Teucrium Wheat Fund (WEAT) is 6.36%, while SPDR Gold Shares (GLD) has a volatility of 7.58%. This indicates that WEAT 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.

Volatility by Period

	WEAT	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.36%	7.58%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	18.75%	24.18%	-5.43%
Volatility (1Y) Calculated over the trailing 1-year period	21.89%	27.96%	-6.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.29%	18.39%	+11.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.78%	16.10%	+10.68%

WEAT vs. GLD - Expense Ratio Comparison

WEAT has a 1.91% expense ratio, which is higher than GLD's 0.40% expense ratio.

Dividends

WEAT vs. GLD - Dividend Comparison

Neither WEAT nor GLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WEAT and GLD in my portfolio?

WEAT and GLD have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEAT or GLD?

GLD has higher volatility (7.58%) compared to WEAT (6.36%). In terms of maximum drawdown, WEAT dropped -84.32% vs GLD's -45.56%.

Which ETF is better, WEAT or GLD?

On 10-year performance, GLD leads with 11.21% vs -5.19% for WEAT. On fees, GLD is cheaper at 0.40% per year. On volatility, WEAT has been the lower-risk option at 6.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEAT or GLD?

Over the 10-year period, GLD has performed better with a 11.21% return vs -5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEAT or GLD?

GLD is cheaper with a 0.40% expense ratio, compared with 1.91% for WEAT.

Which ETF pays a higher dividend yield, WEAT or GLD?

WEAT and GLD have nearly identical dividend yields, around 0.00%.

What is the main difference between WEAT and GLD?

WEAT is categorized as Agricultural Commodities, while GLD is Gold. WEAT tracks Teucrium Wheat Index (TWEAT), while GLD tracks LBMA Gold Price PM. They also come from different issuers: Teucrium and State Street. Their fees differ too: 1.91% for WEAT and 0.40% for GLD.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (0.68 vs 0.24), 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.