WPM.TO vs. GLDM
WPM.TO (Wheaton Precious Metals Corp.) is a stock, while GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, WPM.TO returned 26.38%/yr vs 21.55%/yr for GLDM. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
WPM.TO vs. GLDM - Performance Comparison
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Different Trading Currencies
WPM.TO is traded in CAD, while GLDM is traded in USD. To make them comparable, the GLDM values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, WPM.TO achieves a 2.81% return, which is significantly higher than GLDM's -1.49% return.
WPM.TO
- 1D
- -4.09%
- 1M
- -5.21%
- YTD
- 2.81%
- 6M
- -1.36%
- 1Y
- 34.37%
- 3Y*
- 44.65%
- 5Y*
- 26.38%
- 10Y*
- 21.09%
GLDM
- 1D
- -2.02%
- 1M
- -6.29%
- YTD
- -1.49%
- 6M
- -5.89%
- 1Y
- 25.37%
- 3Y*
- 32.01%
- 5Y*
- 21.55%
- 10Y*
- —
WPM.TO vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WPM.TO Wheaton Precious Metals Corp. | 2.81% | 100.91% | 25.13% | 25.20% | -1.07% | 3.20% | 39.06% | 47.18% | -5.42% |
GLDM SPDR Gold MiniShares Trust | -1.49% | 56.71% | 37.84% | 10.35% | 5.84% | -4.06% | 22.13% | 13.23% | 4.23% |
Correlation
The correlation between WPM.TO and GLDM is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.61 |
The correlation between WPM.TO and GLDM has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
WPM.TO vs. GLDM — Risk / Return Rank
WPM.TO
GLDM
WPM.TO vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wheaton Precious Metals Corp. (WPM.TO) 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.
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.
| WPM.TO | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.19 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.15 | -0.13 |
| Martin ratioReturn relative to average drawdown | 2.75 | 3.08 | -0.34 |
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Drawdowns
WPM.TO vs. GLDM - Drawdown Comparison
The maximum WPM.TO drawdown since its inception was -83.21%, which is greater than GLDM's maximum drawdown of -22.76%. Use the drawdown chart below to compare losses from any high point for WPM.TO and GLDM.
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Drawdown Indicators
| WPM.TO | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.21% | -22.76% | -60.45% |
Max Drawdown (1Y)Largest decline over 1 year | -33.62% | -22.09% | -11.53% |
Max Drawdown (3Y)Largest decline over 3 years | -33.62% | -22.09% | -11.53% |
Max Drawdown (5Y)Largest decline over 5 years | -39.04% | -22.09% | -16.95% |
Max Drawdown (10Y)Largest decline over 10 years | -47.50% | — | — |
Current DrawdownCurrent decline from peak | -26.80% | -20.39% | -6.41% |
Average DrawdownAverage peak-to-trough decline | -25.74% | -7.18% | -18.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.54% | 8.26% | +4.28% |
Volatility
WPM.TO vs. GLDM - Volatility Comparison
Wheaton Precious Metals Corp. (WPM.TO) has a higher volatility of 18.85% compared to SPDR Gold MiniShares Trust (GLDM) at 8.25%. This indicates that WPM.TO'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.
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Volatility by Period
| WPM.TO | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.85% | 8.25% | +10.60% |
Volatility (6M)Calculated over the trailing 6-month period | 39.47% | 24.15% | +15.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.33% | 27.34% | +18.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.80% | 19.07% | +14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.39% | 18.14% | +17.25% |
Dividends
WPM.TO vs. GLDM - Dividend Comparison
WPM.TO's dividend yield for the trailing twelve months is around 0.61%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WPM.TO Wheaton Precious Metals Corp. | 0.61% | 0.57% | 1.05% | 1.25% | 1.40% | 1.05% | 1.08% | 1.24% | 1.75% | 1.54% | 1.06% | 1.48% |
Frequently Asked Questions
WPM.TO and GLDM have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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