Compare/Updated Oct 26, 2026, refreshed every trading day
GLD vs GLDM
SPDR Gold Shares against SPDR Gold MiniShares Trust: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
GLDM did better over the 1,000-trading-day period from Oct 28, 2022 to Oct 23, 2026: $1,000 grew to $2,422 (+142.2%), versus $2,394 (+139.4%) for GLD. GLDM also led over 1 year and 3 years, while the funds were nearly identical over shorter periods. The main reason is GLDM’s lower 0.10% expense ratio versus GLD’s 0.40%, which matters because both funds closely track gold and had a 0.999 daily-move correlation. GLDM’s lower costs supported the modest performance advantage. Risk was essentially comparable: 12-month volatility was 28.3% for GLDM versus 28.5% for GLD, while worst drawdown was -26.3% versus -26.4%, respectively. GLD offers the larger fund at $136B versus GLDM’s $30B, but GLDM was the stronger performer with slightly lower reported risk.
- Price is below its 200-day average ($414); 50-day at $395.
- RSI 34, neutral. Supertrend says sell. ADX 22, so the trend is developing.
- Price is below its 200-day average ($89); 50-day at $85.
- RSI 34, neutral. Supertrend says sell. ADX 20, so the trend is weak.
Head to head
Which has returned more, GLD or GLDM?
GLD beat GLDM in 10 of the last 48 months; GLDM won the other 38. The typical monthly gap was 0.03 points.
Total return by period
Which is riskier?
Both: Jan 29, 2026 to Jul 16, 2026
- 0.999
- correlation of daily moves, 4 years
- 1.00
- GLD move per 1% in GLDM
- 1.000
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.03 points.
When did they diverge?
| Month | GLD | GLDM | Gap |
|---|---|---|---|
| February 2026 | +8.7% | +8.5% | +0.25 pts |
| December 2025 | +2.1% | +2.3% | -0.22 pts |
| January 2026 | +12.3% | +12.5% | -0.19 pts |
| April 2026 | -1.6% | -1.4% | -0.13 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with GLD and GLDM?
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