ETF Versus

GLDM vs SPY

SPDR Gold MiniShares vs State Street SPDR S&P 500 ETF Trust

Last updated: 2026-04-10

GLDM SPDR

SPDR Gold MiniShares (GLDM) is an exchange-traded fund issued by SPDR that provides exposure to gold securities. It charges a low expense ratio of 0.10%. Launched in 2018, the fund has a 8-year track record.

AUM: $31.3B ER: 0.10% Yield: N/A Since: Jun 25, 2018
SPY SPDR

State Street SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund issued by SPDR that provides exposure to large-cap U.S. equities across growth and value styles. It charges a low expense ratio of 0.09%. The fund offers a moderate dividend yield of 1.09%. Launched in 1993, the fund has a 33-year track record.

AUM: $678.3B ER: 0.09% Yield: 1.09% Since: Jan 22, 1993

Quick Verdict

Both funds have nearly identical expense ratios (0.09% vs 0.10%), so fees are not a differentiator here. Over the past year, GLDM has significantly outperformed with a 50.3% return vs 29.6%.

Key Metrics

Metric GLDM SPY
Expense Ratio 0.10% 0.09%
Dividend Yield N/A 1.1%
Fund Family SPDR SPDR
Category Gold US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

85 130 175 220 265 310 2021-04 2022-07 2023-10 2025-01 2026-04
GLDM +173.7%
SPY +65.2%

Performance Comparison

Period GLDM SPY Difference
1 Month -8.03% +0.54% -8.57%
3 Months +3.80% -2.19% +5.99%
6 Months +15.97% +2.55% +13.42%
YTD +10.05% -0.47% +10.52%
1 Year +50.25% +29.62% +20.63%
3 Years +137.19% +65.95% +71.24%
5 Years +173.65% +65.18% +108.47%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period GLDM Fees SPY Fees You Save
$10,000 10 years $199 $179 $20
$10,000 20 years $856 $771 $85
$10,000 30 years $2,758 $2,486 $272
$50,000 10 years $995 $896 $99
$50,000 30 years $13,790 $12,428 $1,362
$100,000 30 years $27,580 $24,855 $2,725

Risk Metrics

Based on 5 years of daily returns

Metric GLDM SPY
Annualized Volatility 17.7% 17.1%
Max Drawdown -20.9% -25.4%
Sharpe Ratio 0.98 0.41

Dividend Comparison

Metric GLDM SPY
Annual Dividend (per share) $0.00 $7.38
Dividend Yield 0.00% 1.09%
Distribution Frequency None Quarterly

Top Holdings

SPY Top Holdings

NameWeight
NVIDIA CorporationNVDA7.61%
Apple Inc.AAPL6.54%
Microsoft CorporationMSFT4.78%
Amazon.com, Inc.AMZN3.72%
Broadcom Inc.AVGO2.86%
Alphabet Inc.GOOG2.53%
Meta Platforms, Inc.META2.31%
Tesla, Inc.TSLA1.66%
Berkshire Hathaway Inc.BRK.B1.51%

Which One Should You Choose?

Choose GLDM if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Related Comparisons