GLD vs GLDM
SPDR Gold Shares vs SPDR Gold MiniShares Trust
Quick Verdict
GLDM has a lower expense ratio. GLDM delivered stronger 1-year returns.
Side-by-Side Comparison
| Metric | GLD | GLDM | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.10% | |
| AUM | $143.8B | $30.1B | |
| Dividend Yield | 0.00% | 0.00% | |
| Holdings | 2 | 2 | |
| YTD Return | +0.80% | +0.98% | |
| 1Y Return | +30.67% | +31.02% | |
| 3Y Return (annualized) | +31.52% | +31.90% | |
| 5Y Return (annualized) | +19.17% | +19.52% | |
| Volatility (annualized) | 17.2% | 15.9% | |
| Max Drawdown | -45.6% | -26.3% | |
| Fund Family | SPDR State Street Global Advisors | SPDR State Street Global Advisors | |
| Category | Commodity | Commodity | |
| Inception | Nov 18, 2004 | Jun 25, 2018 |
GLD vs GLDM Performance
SPDR Gold Shares (GLD) is a ETF from SPDR State Street Global Advisors and SPDR Gold MiniShares Trust (GLDM) is a ETF from SPDR State Street Global Advisors. Over the past year GLD returned +30.67% while GLDM returned +31.02%. Year to date, GLD is up 0.80% versus a gain of 0.98% for GLDM.
Over three years, GLD compounded at +31.52% per year against +31.90% for GLDM; over five years the annualized figures are +19.17% and +19.52% respectively. Across the full 8-year window we track, GLDM has the edge at +16.40% annualized vs +10.66%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GLD has been the more volatile fund, with annualized monthly volatility of 17.2% compared with 15.9% for GLDM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -45.6% for GLD and -26.3% for GLDM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GLD charges 0.40% per year while GLDM charges 0.10%. On a $10,000 position that is $40 vs $10 annually, a gap of $30 per year that compounds over a long holding period. On income, GLD currently yields 0.00% against 0.00% for GLDM.
Frequently Asked Questions
Which is cheaper, GLD or GLDM?
GLD has an expense ratio of 0.40% while GLDM charges 0.10%. GLDM is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, GLD or GLDM?
Over the past year GLD returned +30.67% vs +31.02% for GLDM, so GLDM leads on 1-year performance. Over the longest common window we track (8 years), GLD annualized +10.66% vs +16.40% for GLDM. Past performance does not guarantee future results.
Which is riskier, GLD or GLDM?
GLD has been the more volatile fund at 17.2% annualized versus 15.9% for GLDM. Worst drawdown: GLD -45.6% vs GLDM -26.3%.
Should I hold both GLD and GLDM?
GLD and GLDM have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, GLD or GLDM?
GLD yields 0.00% while GLDM yields 0.00%, so GLDM currently pays the higher dividend yield.
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