GLD vs
Backtest GLD vs GLDMJun 26, 2018 – Nov 12, 2026, GLDM sets the start date
Growth of $10,000
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Key metrics · Jun 26, 2018 – Nov 12, 2026
| Return | GLD | GLDM |
|---|---|---|
| Final balance | $29,758 | $30,426 |
| Total return | +197.58% | +204.26% |
| CAGR | +13.90% | +14.20% |
| Calendar years | GLD | GLDM |
|---|---|---|
| Best year | +63.68% | +64.20% |
| Worst year | −4.15% | −4.01% |
| Positive years | 5 of 7 | 5 of 7 |
| Risk | GLD | GLDM |
|---|---|---|
| Max drawdown | −28.44% | −28.26% |
| Longest drawdown | 3.6 years | 3.4 years |
| Volatility (daily, annualized) | 17.55% | 17.46% |
| Risk-adjusted | GLD | GLDM |
|---|---|---|
| Sharpe ratio | 0.83 | 0.85 |
| Sortino ratio | 1.17 | 1.20 |
| Calmar ratio | 0.49 | 0.50 |
Trailing returns · Jun 26, 2018 – Nov 12, 2026
| Period | GLD | GLDM | GLD − GLDM |
|---|---|---|---|
| YTD | −10.45% | −10.27% | −0.18% |
| 1Y | −8.06% | −7.77% | −0.29% |
| 3Y | +25.51% | +25.88% | −0.38% |
| 5Y | +15.26% | +15.60% | −0.34% |
Rolling returns · Jun 26, 2018 – Nov 12, 2026
| Period | GLD median | GLDM median | More often ahead |
|---|---|---|---|
| 1Y | +18.64% | +18.91% | GLDM >99% |
| 3Y | +12.60% | +12.89% | GLDM 100% |
| 5Y | +12.35% | +12.62% | GLDM 100% |
Worst drawdowns · GLD · Jun 26, 2018 – Nov 12, 2026
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −28.4% | Jan 2026 | Nov 2026 | Not yet | 9 months so far |
| −22.0% | Aug 2020 | Sep 2022 | Mar 2024 | 3.6 years |
| −12.5% | Mar 2020 | Mar 2020 | Apr 2020 | 1 month |
| −10.1% | Oct 2025 | Nov 2025 | Dec 2025 | 2 months |
| −8.1% | Oct 2024 | Nov 2024 | Jan 2025 | 3 months |
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −28.3% | Jan 2026 | Nov 2026 | Not yet | 9 months so far |
| −21.6% | Aug 2020 | Sep 2022 | Dec 2023 | 3.4 years |
| −12.5% | Mar 2020 | Mar 2020 | Apr 2020 | 1 month |
| −10.1% | Oct 2025 | Nov 2025 | Dec 2025 | 2 months |
| −8.1% | Oct 2024 | Nov 2024 | Jan 2025 | 3 months |
Annual returns
| Year | GLD | GLDM | GLD − GLDM |
|---|---|---|---|
| 2018from Jun 26 | +1.67% | +1.84% | −0.17% |
| 2019 | +17.86% | +18.10% | −0.24% |
| 2020 | +24.81% | +25.10% | −0.28% |
| 2021 | −4.15% | −4.01% | −0.14% |
| 2022 | −0.77% | −0.47% | −0.30% |
| 2023 | +12.69% | +13.04% | −0.35% |
| 2024 | +26.66% | +27.08% | −0.43% |
| 2025 | +63.68% | +64.20% | −0.53% |
| 2026to Nov 12 | −10.45% | −10.27% | −0.18% |
About GLD vs GLDM
Both hold gold bars in vaults and follow the price of gold. GLDM, launched in June 2018, charges a lower fee. GLD dates from 2004, trades far more, and is the only one of the two with listed options.
GLD returned 13.9% a year from Jun 2018 to Nov 2026, against 14.2% for GLDM. Both fell furthest in 2026, GLD by 28.4% and GLDM by 28.3%. GLDM beat GLD in all 7 full years and in every rolling 5-year period.
Uses daily closing prices with dividends reinvested. Fund fees are included, but not taxes or trading costs. The comparison starts on Jun 26, 2018, when GLDM's prices begin.