GLD vs
Backtest GLD vs SLVApr 28, 2006 – Nov 12, 2026, SLV sets the start date
Growth of $10,000
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Key metrics · Apr 28, 2006 – Nov 12, 2026
| Return | GLD | SLV |
|---|---|---|
| Final balance | $54,523 | $32,667 |
| Total return | +445.23% | +226.67% |
| CAGR | +8.61% | +5.93% |
| Calendar years | GLD | SLV |
|---|---|---|
| Best year | +63.68% | +144.66% |
| Worst year | −28.33% | −36.30% |
| Positive years | 13 of 19 | 11 of 19 |
| Risk | GLD | SLV |
|---|---|---|
| Max drawdown | −45.56% | −76.28% |
| Longest drawdown | 8.9 years | 14.5 years |
| Volatility (daily, annualized) | 18.44% | 33.42% |
| Risk-adjusted | GLD | SLV |
|---|---|---|
| Sharpe ratio | 0.54 | 0.34 |
| Sortino ratio | 0.76 | 0.47 |
| Calmar ratio | 0.19 | 0.08 |
Trailing returns · Apr 28, 2006 – Nov 12, 2026
| Period | GLD | SLV | GLD − SLV |
|---|---|---|---|
| YTD | −10.45% | −29.96% | +19.51% |
| 1Y | −8.06% | −6.62% | −1.43% |
| 3Y | +25.51% | +30.42% | −4.91% |
| 5Y | +15.26% | +14.01% | +1.25% |
| 10Y | +11.73% | +10.60% | +1.12% |
| 15Y | +4.87% | +1.96% | +2.91% |
| 20Y | +9.07% | +6.43% | +2.64% |
Rolling returns · Apr 28, 2006 – Nov 12, 2026
| Period | GLD median | SLV median | More often ahead |
|---|---|---|---|
| 1Y | +8.00% | +5.31% | GLD 64% |
| 3Y | +8.66% | +6.02% | GLD 62% |
| 5Y | +7.25% | +6.25% | GLD 72% |
| 10Y | +3.86% | +1.05% | GLD 93% |
Worst drawdowns · GLD · Apr 28, 2006 – Nov 12, 2026
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −45.6% | Aug 2011 | Dec 2015 | Jul 2020 | 8.9 years |
| −29.4% | Mar 2008 | Nov 2008 | Sep 2009 | 1.5 years |
| −28.4% | Jan 2026 | Nov 2026 | Not yet | 9 months so far |
| −22.0% | Aug 2020 | Sep 2022 | Mar 2024 | 3.6 years |
| −21.8% | May 2006 | Jun 2006 | Sep 2007 | 1.4 years |
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −76.3% | Apr 2011 | Mar 2020 | Oct 2025 | 14.5 years |
| −57.8% | Jan 2026 | Oct 2026 | Not yet | 9 months so far |
| −57.1% | Mar 2008 | Oct 2008 | Sep 2010 | 2.5 years |
| −35.2% | May 2006 | Jun 2006 | Nov 2007 | 1.5 years |
| −13.8% | Oct 2025 | Oct 2025 | Nov 2025 | 1 month |
Annual returns
| Year | GLD | SLV | GLD − SLV |
|---|---|---|---|
| 2017 | +12.81% | +5.82% | +6.99% |
| 2018 | −1.94% | −9.19% | +7.25% |
| 2019 | +17.86% | +14.88% | +2.98% |
| 2020 | +24.81% | +47.30% | −22.49% |
| 2021 | −4.15% | −12.45% | +8.31% |
| 2022 | −0.77% | +2.37% | −3.14% |
| 2023 | +12.69% | −1.09% | +13.78% |
| 2024 | +26.66% | +20.89% | +5.77% |
| 2025 | +63.68% | +144.66% | −80.99% |
| 2026to Nov 12 | −10.45% | −29.96% | +19.51% |
About GLD vs SLV
GLD holds gold bars and SLV silver bars, and each follows its metal's price. More than half of each year's silver goes into industry, much of it into solar panels and electronics, so silver's price also moves with industrial demand.
GLD returned 8.6% a year from Apr 2006 to Nov 2026, against 5.9% for SLV. GLD fell furthest in 2011–2015, by 45.6%, and SLV in 2011–2020, by 76.3%. GLD beat SLV in 12 of 19 full years and in 93% of rolling 10-year periods.
Uses daily closing prices with dividends reinvested. Fund fees are included, but not taxes or trading costs. The comparison starts on Apr 28, 2006, when SLV's prices begin.