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YAFFX vs. GLDM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

YAFFX vs. GLDM

Last updated Jun 13, 2026

YAFFX (AMG Yacktman Focused Fund) and GLDM (SPDR Gold MiniShares Trust) are both funds - YAFFX is a Large Cap Value Equities fund managed by AMG, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, YAFFX returned 9.34%/yr vs 17.41%/yr for GLDM. At a 0.12 correlation, their price movements are largely independent. YAFFX charges 1.25%/yr vs 0.10%/yr for GLDM.

Performance

YAFFX vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG Yacktman Focused Fund (YAFFX) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, YAFFX achieves a 25.77% return, which is significantly higher than GLDM's -2.40% return.

YAFFX

1D
2.63%
1M
1.94%
YTD
25.77%
6M
8.10%
1Y
21.71%
3Y*
16.12%
5Y*
9.34%
10Y*
12.50%

GLDM

1D
0.11%
1M
-7.40%
YTD
-2.40%
6M
-2.09%
1Y
22.58%
3Y*
29.27%
5Y*
17.41%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

YAFFX vs. GLDM - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
YAFFX
AMG Yacktman Focused Fund		25.77%3.89%9.30%16.53%-8.20%16.48%17.22%19.21%0.10%
GLDM
SPDR Gold MiniShares Trust		-2.40%64.20%27.08%13.04%-0.47%-4.01%25.10%18.10%1.75%

Correlation

The correlation between YAFFX and GLDM is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.19

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (All Time)
Calculated using the full available price history since Jun 26, 2018

0.12

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AMG Yacktman Focused Fund

SPDR Gold MiniShares Trust

Often compared with YAFFX:
YAFFX vs. IVEYAFFX vs. AKREXYAFFX vs. BACAXYAFFX vs. CZAYAFFX vs. DSEEXYAFFX vs. VIGYAFFX vs. VTV
Often compared with GLDM:
GLDM vs. GLDGLDM vs. IAUGLDM vs. IAUMGLDM vs. GDXGLDM vs. SGOLGLDM vs. VOOGLDM vs. SPY

Return for Risk

YAFFX vs. GLDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
YAFFX
YAFFX Risk / Return Rank: 2222
Overall Rank
YAFFX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
YAFFX Sortino Ratio Rank: 1313
Sortino Ratio Rank
YAFFX Omega Ratio Rank: 3939
Omega Ratio Rank
YAFFX Calmar Ratio Rank: 2020
Calmar Ratio Rank
YAFFX Martin Ratio Rank: 2222
Martin Ratio Rank
GLDM
GLDM Risk / Return Rank: 2727
Overall Rank
GLDM Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GLDM Sortino Ratio Rank: 2525
Sortino Ratio Rank
GLDM Omega Ratio Rank: 3131
Omega Ratio Rank
GLDM Calmar Ratio Rank: 2424
Calmar Ratio Rank
GLDM Martin Ratio Rank: 2525
Martin Ratio Rank
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.

YAFFX vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG Yacktman Focused Fund (YAFFX) 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.

YAFFXGLDMDifference
Sharpe ratioReturn per unit of total volatility
0.94
0.90

+0.05

Sortino ratioReturn per unit of downside risk
1.12
1.26

-0.14

Omega ratioGain probability vs. loss probability

1.26

1.19

+0.07

Calmar ratioReturn relative to maximum drawdown

1.26

1.00

+0.26

Martin ratioReturn relative to average drawdown

4.47

2.87

+1.60

YAFFX vs. GLDM - Sharpe Ratio Comparison

The current YAFFX Sharpe Ratio is 0.94, which is comparable to the GLDM Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of YAFFX 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.

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Drawdowns

YAFFX vs. GLDM - Drawdown Comparison

The maximum YAFFX drawdown since its inception was -43.80%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for YAFFX and GLDM.

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Drawdown Indicators

YAFFXGLDMDifference

Max Drawdown

Largest peak-to-trough decline

-43.80%

-24.35%

-19.45%

Max Drawdown (1Y)

Largest decline over 1 year

-17.08%

-24.35%

+7.27%

Max Drawdown (3Y)

Largest decline over 3 years

-18.88%

-24.35%

+5.47%

Max Drawdown (5Y)

Largest decline over 5 years

-21.31%

-24.35%

+3.04%

Max Drawdown (10Y)

Largest decline over 10 years

-30.62%

—

—

Current Drawdown

Current decline from peak

-4.28%

-21.96%

+17.68%

Average Drawdown

Average peak-to-trough decline

-6.21%

-6.27%

+0.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.77%

8.44%

-3.67%

Volatility

YAFFX vs. GLDM - Volatility Comparison

The current volatility for AMG Yacktman Focused Fund (YAFFX) is 7.30%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 7.73%. This indicates that YAFFX experiences smaller price fluctuations and is considered to be less risky 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

YAFFXGLDMDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.30%

7.73%

-0.43%

Volatility (6M)

Calculated over the trailing 6-month period

22.77%

23.93%

-1.16%

Volatility (1Y)

Calculated over the trailing 1-year period

22.71%

27.15%

-4.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.22%

18.13%

+0.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.59%

16.98%

-0.39%

YAFFX vs. GLDM - Expense Ratio Comparison

YAFFX has a 1.25% expense ratio, which is higher than GLDM's 0.10% expense ratio.

Dividends

YAFFX vs. GLDM - Dividend Comparison

Neither YAFFX nor GLDM has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
YAFFX
AMG Yacktman Focused Fund		0.00%0.00%18.44%4.42%7.60%4.70%11.87%15.84%22.15%11.82%11.81%24.36%

Frequently Asked Questions

YAFFX and GLDM have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GLDM has higher volatility (7.73%) compared to YAFFX (7.30%). In terms of maximum drawdown, YAFFX dropped -43.80% vs GLDM's -24.35%.

YAFFX currently has the higher Sharpe Ratio (0.94 vs 0.90), 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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