WOOD vs. GLD
WOOD (iShares Global Timber & Forestry ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - WOOD is a Materials fund tracking the S&P Global Timber & Forestry Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, WOOD returned 5.69%/yr vs 11.48%/yr for GLD. At a 0.13 correlation, their price movements are largely independent. WOOD charges 0.46%/yr vs 0.40%/yr for GLD.
Performance
WOOD vs. GLD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with WOOD having a -5.06% return and GLD slightly higher at -4.87%. Over the past 10 years, WOOD has underperformed GLD with an annualized return of 5.69%, while GLD has yielded a comparatively higher 11.48% annualized return.
WOOD
- 1D
- 1.94%
- 1M
- 0.42%
- 6M
- -9.58%
- YTD
- -5.06%
- 1Y
- -7.46%
- 3Y*
- -0.50%
- 5Y*
- -3.65%
- 10Y*
- 5.69%
GLD
- 1D
- -0.31%
- 1M
- -2.47%
- 6M
- -9.04%
- YTD
- -4.87%
- 1Y
- 21.95%
- 3Y*
- 28.08%
- 5Y*
- 17.38%
- 10Y*
- 11.48%
WOOD vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WOOD iShares Global Timber & Forestry ETF | -5.06% | -3.27% | -4.21% | 13.84% | -19.39% | 17.03% | 20.36% | 19.75% | -17.73% | 34.49% |
GLD SPDR Gold Shares | -4.87% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between WOOD and GLD is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008 | 0.13 |
Over the past year, WOOD and GLD have become more correlated (0.34) than their long-term average of 0.13, meaning their price movements have been converging.
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Return for Risk
WOOD vs. GLD — Risk / Return Rank
WOOD
GLD
WOOD vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Timber & Forestry ETF (WOOD) 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.
| WOOD | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.17 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 0.89 | -1.25 |
| Martin ratioReturn relative to average drawdown | -0.73 | 2.19 | -2.92 |
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Drawdowns
WOOD vs. GLD - Drawdown Comparison
The maximum WOOD drawdown since its inception was -63.25%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for WOOD and GLD.
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Drawdown Indicators
| WOOD | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.25% | -45.56% | -17.69% |
Max Drawdown (1Y)Largest decline over 1 year | -21.64% | -26.21% | +4.57% |
Max Drawdown (3Y)Largest decline over 3 years | -22.79% | -26.21% | +3.42% |
Max Drawdown (5Y)Largest decline over 5 years | -30.71% | -26.21% | -4.50% |
Max Drawdown (10Y)Largest decline over 10 years | -50.20% | -26.21% | -23.99% |
Current DrawdownCurrent decline from peak | -22.77% | -23.97% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -14.81% | -16.18% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.88% | 10.56% | +0.32% |
Volatility
WOOD vs. GLD - Volatility Comparison
The current volatility for iShares Global Timber & Forestry ETF (WOOD) is 5.61%, while SPDR Gold Shares (GLD) has a volatility of 8.27%. This indicates that WOOD 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.
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Volatility by Period
| WOOD | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.61% | 8.27% | -2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 14.57% | 24.05% | -9.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.67% | 27.78% | -9.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.74% | 18.34% | +1.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.70% | 16.08% | +5.62% |
WOOD vs. GLD - Expense Ratio Comparison
WOOD has a 0.46% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
WOOD vs. GLD - Dividend Comparison
WOOD's dividend yield for the trailing twelve months is around 2.49%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WOOD iShares Global Timber & Forestry ETF | 2.49% | 2.51% | 2.09% | 1.64% | 2.26% | 1.24% | 0.98% | 1.85% | 2.82% | 1.19% | 1.65% | 2.04% |
Frequently Asked Questions
WOOD and GLD have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.27%) compared to WOOD (5.61%). In terms of maximum drawdown, WOOD dropped -63.25% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.48% vs 5.69% for WOOD. On fees, GLD is cheaper at 0.40% per year. On volatility, WOOD has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.48% return vs 5.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.46% for WOOD.
WOOD has the higher dividend yield at 2.49%, compared with 0.00% for GLD.
WOOD is categorized as Materials, while GLD is Gold. WOOD tracks S&P Global Timber & Forestry Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.46% for WOOD and 0.40% for GLD.
GLD currently has the higher Sharpe Ratio (0.84 vs -0.42), 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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