XLB vs. GLDM

Last updated Jun 4, 2026

XLB (Materials Select Sector SPDR ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - XLB is a Materials fund tracking the Materials Select Sector Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, XLB returned 5.35%/yr vs 18.49%/yr for GLDM. At a 0.18 correlation, their price movements are largely independent. XLB charges 0.13%/yr vs 0.10%/yr for GLDM.

Performance

XLB vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Materials Select Sector SPDR ETF (XLB) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLB achieves a 14.35% return, which is significantly higher than GLDM's 3.00% return.

XLB

• 1D: 0.21%
• 1M: 1.93%
• YTD: 14.35%
• 6M: 17.15%
• 1Y: 19.99%
• 3Y*: 11.71%
• 5Y*: 5.35%
• 10Y*: 10.23%

GLDM

• 1D: -0.96%
• 1M: -1.62%
• YTD: 3.00%
• 6M: 5.60%
• 1Y: 32.42%
• 3Y*: 31.49%
• 5Y*: 18.49%
• 10Y*: —

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

XLB vs. GLDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XLB Materials Select Sector SPDR ETF	14.35%	9.94%	0.15%	12.46%	-12.30%	27.44%	20.46%	24.13%	-11.65%
GLDM SPDR Gold MiniShares Trust	3.00%	64.20%	27.08%	13.04%	-0.47%	-4.01%	25.10%	18.10%	1.84%

Correlation

The correlation between XLB and GLDM is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018	0.18

The correlation between XLB and GLDM shifts across timeframes, from 0.18 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.

XLB vs. GLDM - Sectors Allocation Comparison

Sectors	XLB	GLDM
Basic Materials	87.6%	100.0%
Consumer Cyclical	12.4%	-
Industrials	1.5%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XLB vs. GLDM — Risk / Return Rank

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

XLB

XLB Risk / Return Rank: 32
XLB Sharpe Ratio Rank: 32
XLB Sortino Ratio Rank: 32
XLB Omega Ratio Rank: 30
XLB Calmar Ratio Rank: 32
XLB Martin Ratio Rank: 33

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.

XLB vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Materials Select Sector SPDR ETF (XLB) 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.

	XLB	GLDM	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.24	-0.04
Sortino ratio: Return per unit of downside risk	1.76	1.63	+0.13
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.62	1.70	-0.08
Martin ratio: Return relative to average drawdown	5.06	4.23	+0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLB vs. GLDM - Sharpe Ratio Comparison

The current XLB Sharpe Ratio is 1.20, which is comparable to the GLDM Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of XLB 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

	XLB	GLDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	1.24	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	1.04	-0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	1.02	-0.66

Drawdowns

XLB vs. GLDM - Drawdown Comparison

The maximum XLB drawdown since its inception was -59.83%, which is greater than GLDM's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for XLB and GLDM.

Drawdown Indicators

	XLB	GLDM	Difference
Max Drawdown Largest peak-to-trough decline	-59.83%	-21.63%	-38.20%
Max Drawdown (1Y) Largest decline over 1 year	-12.38%	-19.14%	+6.76%
Max Drawdown (3Y) Largest decline over 3 years	-23.17%	-19.14%	-4.03%
Max Drawdown (5Y) Largest decline over 5 years	-24.72%	-20.92%	-3.80%
Max Drawdown (10Y) Largest decline over 10 years	-37.27%	—	—
Current Drawdown Current decline from peak	-3.28%	-17.65%	+14.37%
Average Drawdown Average peak-to-trough decline	-10.84%	-6.22%	-4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	7.69%	-3.73%

Volatility

XLB vs. GLDM - Volatility Comparison

Materials Select Sector SPDR ETF (XLB) and SPDR Gold MiniShares Trust (GLDM) have volatilities of 5.73% and 5.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLB	GLDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	5.47%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	12.85%	22.99%	-10.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	26.39%	-9.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.94%	17.91%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.65%	16.85%	+3.80%

XLB vs. GLDM - Expense Ratio Comparison

XLB has a 0.13% expense ratio, which is higher than GLDM's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLB vs. GLDM - Dividend Comparison

XLB's dividend yield for the trailing twelve months is around 1.69%, 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%
XLB Materials Select Sector SPDR ETF	1.69%	1.92%	1.92%	2.00%	2.26%	1.62%	1.72%	1.98%	2.20%	1.66%	1.95%	2.24%

Frequently Asked Questions

Can I hold both XLB and GLDM in my portfolio?

XLB and GLDM have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLB or GLDM?

XLB has higher volatility (5.73%) compared to GLDM (5.47%). In terms of maximum drawdown, XLB dropped -59.83% vs GLDM's -21.63%.

Which ETF is better, XLB or GLDM?

On 5-year performance, GLDM leads with 18.49% vs 5.35% for XLB. On fees, GLDM is cheaper at 0.10% per year. On volatility, GLDM has been the lower-risk option at 5.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLB or GLDM?

Over the 5-year period, GLDM has performed better with a 18.49% return vs 5.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLB or GLDM?

GLDM is cheaper with a 0.10% expense ratio, compared with 0.13% for XLB.

Which ETF pays a higher dividend yield, XLB or GLDM?

XLB has the higher dividend yield at 1.69%, compared with 0.00% for GLDM.

What is the main difference between XLB and GLDM?

XLB is categorized as Materials, while GLDM is Gold. XLB tracks Materials Select Sector Index, while GLDM tracks LBMA Gold Price PM. Their fees differ too: 0.13% for XLB and 0.10% for GLDM.

Which has better risk-adjusted returns?

GLDM currently has the higher Sharpe Ratio (1.24 vs 1.20), 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.