WGX.AX vs. GLDM

Last updated Jun 4, 2026

WGX.AX (Westgold Resources Limited) is a stock, while GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, WGX.AX returned 20.02%/yr vs 20.47%/yr for GLDM. At a 0.07 correlation, their price movements are largely independent.

Performance

WGX.AX vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Westgold Resources Limited (WGX.AX) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WGX.AX is traded in AUD, while GLDM is traded in USD. To make them comparable, the GLDM values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, WGX.AX achieves a -18.48% return, which is significantly lower than GLDM's -3.59% return.

WGX.AX

• 1D: -0.19%
• 1M: -3.67%
• YTD: -18.48%
• 6M: -11.76%
• 1Y: 66.43%
• 3Y*: 49.13%
• 5Y*: 20.02%
• 10Y*: —

GLDM

• 1D: -0.50%
• 1M: -1.09%
• YTD: -3.59%
• 6M: -2.22%
• 1Y: 20.10%
• 3Y*: 28.19%
• 5Y*: 20.47%
• 10Y*: —

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

WGX.AX vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WGX.AX Westgold Resources Limited	-18.48%	129.40%	30.98%	149.14%	-57.11%	-21.79%	15.28%	160.23%	-50.84%
GLDM SPDR Gold MiniShares Trust	-3.59%	52.28%	39.87%	13.13%	6.11%	1.62%	14.11%	18.65%	6.77%

Correlation

The correlation between WGX.AX and GLDM is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018	0.07

Return for Risk

WGX.AX vs. GLDM — Risk / Return Rank

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

WGX.AX

WGX.AX Risk / Return Rank: 73
WGX.AX Sharpe Ratio Rank: 77
WGX.AX Sortino Ratio Rank: 72
WGX.AX Omega Ratio Rank: 71
WGX.AX Calmar Ratio Rank: 71
WGX.AX Martin Ratio Rank: 72

GLDM

GLDM Risk / Return Rank: 32
GLDM Sharpe Ratio Rank: 33
GLDM Sortino Ratio Rank: 29
GLDM Omega Ratio Rank: 36
GLDM Calmar Ratio Rank: 34
GLDM Martin Ratio Rank: 29

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.

WGX.AX vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westgold Resources Limited (WGX.AX) 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.

	WGX.AX	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.84	+0.39
Sortino ratio: Return per unit of downside risk	1.81	1.19	+0.62
Omega ratio: Gain probability vs. loss probability	1.23	1.18	+0.05
Calmar ratio: Return relative to maximum drawdown	1.66	1.07	+0.60
Martin ratio: Return relative to average drawdown	4.08	2.51	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WGX.AX vs. GLDM - Sharpe Ratio Comparison

The current WGX.AX Sharpe Ratio is 1.23, which is higher than the GLDM Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of WGX.AX 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.

Sharpe Ratios by Period

	WGX.AX	GLDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.84	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	1.27	-0.90
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.14	-0.90

Drawdowns

WGX.AX vs. GLDM - Drawdown Comparison

The maximum WGX.AX drawdown since its inception was -74.78%, which is greater than GLDM's maximum drawdown of -23.08%. Use the drawdown chart below to compare losses from any high point for WGX.AX and GLDM.

Drawdown Indicators

	WGX.AX	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-74.78%	-23.08%	-51.70%
Max Drawdown (1Y) Largest decline over 1 year	-39.50%	-18.90%	-20.60%
Max Drawdown (3Y) Largest decline over 3 years	-39.50%	-18.90%	-20.60%
Max Drawdown (5Y) Largest decline over 5 years	-70.61%	-18.90%	-51.71%
Current Drawdown Current decline from peak	-34.78%	-18.56%	-16.22%
Average Drawdown Average peak-to-trough decline	-29.31%	-5.98%	-23.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.17%	8.03%	+8.14%

Volatility

WGX.AX vs. GLDM - Volatility Comparison

Westgold Resources Limited (WGX.AX) has a higher volatility of 14.94% compared to SPDR Gold MiniShares Trust (GLDM) at 4.32%. This indicates that WGX.AX's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WGX.AX	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	4.32%	+10.62%
Volatility (6M) Calculated over the trailing 6-month period	40.21%	20.24%	+19.97%
Volatility (1Y) Calculated over the trailing 1-year period	53.62%	23.92%	+29.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.61%	16.23%	+37.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.22%	15.55%	+37.67%

Dividends

WGX.AX vs. GLDM - Dividend Comparison

WGX.AX's dividend yield for the trailing twelve months is around 0.57%, while GLDM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
GLDM SPDR Gold MiniShares Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WGX.AX Westgold Resources Limited	0.57%	0.47%	0.80%	0.00%	0.00%	0.98%

Frequently Asked Questions

Can I hold both WGX.AX and GLDM in my portfolio?

WGX.AX and GLDM have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.