XME vs. GOAU
XME (SPDR S&P Metals & Mining ETF) and GOAU (US Global GO GOLD and Precious Metal Miners ETF) are both Materials funds - XME tracks the S&P Metals & Mining Select Industry Index while GOAU tracks the U.S. Global GO GOLD and Precious Metal Miners Index. Both are passively managed. Over the past 5 years, XME returned 21.62%/yr vs 13.64%/yr for GOAU. At a 0.47 correlation, their price movements are largely independent. XME charges 0.35%/yr vs 0.60%/yr for GOAU.
Performance
XME vs. GOAU - Performance Comparison
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Returns By Period
In the year-to-date period, XME achieves a 14.54% return, which is significantly higher than GOAU's -9.82% return.
XME
- 1D
- -7.81%
- 1M
- -4.46%
- YTD
- 14.54%
- 6M
- 19.13%
- 1Y
- 85.74%
- 3Y*
- 35.87%
- 5Y*
- 21.62%
- 10Y*
- 19.09%
GOAU
- 1D
- -8.27%
- 1M
- -13.17%
- YTD
- -9.82%
- 6M
- -5.48%
- 1Y
- 26.39%
- 3Y*
- 29.91%
- 5Y*
- 13.64%
- 10Y*
- —
XME vs. GOAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XME SPDR S&P Metals & Mining ETF | 14.54% | 83.47% | -4.54% | 21.51% | 13.13% | 34.92% | 15.95% | 14.69% | -26.78% | 22.49% |
GOAU US Global GO GOLD and Precious Metal Miners ETF | -9.82% | 126.68% | 13.78% | 10.67% | -11.66% | -9.23% | 14.13% | 54.17% | -11.88% | 7.92% |
Correlation
The correlation between XME and GOAU is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2017 | 0.47 |
The correlation between XME and GOAU shifts across timeframes, from 0.47 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XME vs. GOAU — Risk / Return Rank
XME
GOAU
XME vs. GOAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Metals & Mining ETF (XME) and US Global GO GOLD and Precious Metal Miners ETF (GOAU). 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.
| XME | GOAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.14 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 0.84 | +2.98 |
| Martin ratioReturn relative to average drawdown | 9.67 | 2.06 | +7.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XME | GOAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.43 | 0.57 | +1.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.37 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.42 | -0.25 |
Drawdowns
XME vs. GOAU - Drawdown Comparison
The maximum XME drawdown since its inception was -85.89%, which is greater than GOAU's maximum drawdown of -55.41%. Use the drawdown chart below to compare losses from any high point for XME and GOAU.
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Drawdown Indicators
| XME | GOAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.89% | -55.41% | -30.48% |
Max Drawdown (1Y)Largest decline over 1 year | -22.60% | -31.73% | +9.13% |
Max Drawdown (3Y)Largest decline over 3 years | -30.47% | -31.73% | +1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -37.27% | -48.52% | +11.25% |
Max Drawdown (10Y)Largest decline over 10 years | -61.69% | — | — |
Current DrawdownCurrent decline from peak | -10.71% | -31.73% | +21.02% |
Average DrawdownAverage peak-to-trough decline | -44.13% | -18.82% | -25.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.89% | 12.86% | -3.97% |
Volatility
XME vs. GOAU - Volatility Comparison
SPDR S&P Metals & Mining ETF (XME) and US Global GO GOLD and Precious Metal Miners ETF (GOAU) have volatilities of 14.30% and 14.84%, 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.
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Volatility by Period
| XME | GOAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.30% | 14.84% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 27.85% | 38.30% | -10.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.53% | 46.48% | -10.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.72% | 36.62% | -3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.93% | 35.61% | -2.68% |
XME vs. GOAU - Expense Ratio Comparison
XME has a 0.35% expense ratio, which is lower than GOAU's 0.60% expense ratio.
Dividends
XME vs. GOAU - Dividend Comparison
XME's dividend yield for the trailing twelve months is around 0.32%, less than GOAU's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOAU US Global GO GOLD and Precious Metal Miners ETF | 1.04% | 0.94% | 2.11% | 0.99% | 1.55% | 1.28% | 0.74% | 0.16% | 0.47% | 0.27% | 0.00% | 0.00% |
XME SPDR S&P Metals & Mining ETF | 0.32% | 0.38% | 0.65% | 1.00% | 1.64% | 0.70% | 0.99% | 2.43% | 2.23% | 1.15% | 1.02% | 2.61% |
Frequently Asked Questions
XME and GOAU have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOAU has higher volatility (14.84%) compared to XME (14.30%). In terms of maximum drawdown, XME dropped -85.89% vs GOAU's -55.41%.
On 5-year performance, XME leads with 21.62% vs 13.64% for GOAU. On fees, XME is cheaper at 0.35% per year. On volatility, XME has been the lower-risk option at 14.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XME has performed better with a 21.62% return vs 13.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XME is cheaper with a 0.35% expense ratio, compared with 0.60% for GOAU.
GOAU has the higher dividend yield at 1.04%, compared with 0.32% for XME.
XME tracks S&P Metals & Mining Select Industry Index, while GOAU tracks U.S. Global GO GOLD and Precious Metal Miners Index. They also come from different issuers: State Street and US Global. Their fees differ too: 0.35% for XME and 0.60% for GOAU.
XME currently has the higher Sharpe Ratio (2.43 vs 0.57), 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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