GLD vs SPY
Comparison between SPDR Gold Shares ETF (GLD, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceGLD has outperformed SPY, delivering a return of +20.4% compared to +13.3%
GLD vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
GLD
$155B
Winner
SPY
$652B
Expense Ratio
GLD
0.40%
Winner
SPY
0.09%
Max Drawdown
Winner
GLD
45.56%
SPY
56.47%
Sharpe Ratio
GLD
1.24
Winner
SPY
2.07
5Y Beta
Winner
GLD
0.18
SPY
1.00
P/E Ratio
GLD
N/A
SPY
28.24
Forward P/E
GLD
N/A
SPY
21.85
5Y Dividends CAGR
GLD
N/A
SPY
5.43%
5Y EPS CAGR
GLD
N/A
SPY
25.79%
Debt to Equity
GLD
N/A
SPY
22.35%
P/S Ratio
GLD
N/A
SPY
3.55
P/B Ratio
GLD
N/A
SPY
5.29
GLD vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
GLD
-0.17%
Winner
SPY
+9.11%
3M
GLD
-7.12%
Winner
SPY
+6.59%
6M
Winner
GLD
+17.77%
SPY
+10.56%
1Y
Winner
GLD
+42.39%
SPY
+32.04%
5Y(CAGR)
Winner
GLD
+20.37%
SPY
+13.35%
10Y(CAGR)
GLD
+13.66%
Winner
SPY
+15.49%
Max(CAGR)
Winner
GLD
+11.20%
SPY
+8.50%
GLD vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | GLD | SPY |
|---|---|---|
| 2026 | +8.91% | +8.27% |
| 2025 | +61.48% | +18.00% |
| 2024 | +26.96% | +25.59% |
| 2023 | +11.76% | +26.72% |
| 2022 | +0.78% | -18.64% |
| 2021 | -6.24% | +30.52% |
| 2020 | +23.90% | +17.28% |
| 2019 | +17.78% | +31.09% |
| 2018 | -3.12% | -5.24% |
| 2017 | +11.93% | +20.78% |
| 2016 | +6.53% | +13.59% |
| 2015 | -11.06% | +1.31% |
| 2014 | -3.75% | +14.56% |
| 2013 | -28.83% | +29.00% |
| 2012 | +3.91% | +14.17% |
| 2011 | +10.14% | +0.85% |
| 2010 | +26.34% | +13.14% |
| 2009 | +24.45% | +22.67% |
| 2008 | +1.96% | -36.25% |
| 2007 | +32.40% | +5.32% |
| 2006 | +18.99% | +13.85% |
| 2005 | +19.90% | +5.32% |
| 2004 | -1.31% | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
GLD vs SPY Drawdown Comparison
The maximum drawdown for GLD was -45.56%, occurring on Dec 17, 2015. Recovery took 2248 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current GLD drawdown is -12.53%.
| Rank | GLD | SPY |
|---|---|---|
| #1 | -45.56% Aug 22, 2011 - Jul 29, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -29.41% Mar 17, 2008 - Sep 16, 2009 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -22.00% Aug 6, 2020 - Mar 4, 2024 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -21.79% May 12, 2006 - Sep 18, 2007 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -19.21% Jan 29, 2026 - Mar 26, 2026 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -12.70% Dec 2, 2009 - May 11, 2010 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -10.13% Oct 20, 2025 - Dec 22, 2025 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -9.52% Dec 3, 2004 - Sep 16, 2005 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -8.12% Oct 30, 2024 - Jan 30, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -8.04% Dec 6, 2010 - Mar 1, 2011 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -7.59% Jun 18, 2010 - Sep 14, 2010 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -7.11% Apr 21, 2025 - Jun 13, 2025 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -6.70% Dec 12, 2005 - Jan 3, 2006 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -6.08% Nov 7, 2007 - Dec 28, 2007 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -5.84% Apr 29, 2011 - Jul 12, 2011 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between GLD and SPY is 0.86 which considered as a strong positive correlation - the stocks tend to move together.
0.86
-101
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