SPDR Gold Mini Shares

10-Year Study

GLDM.US · · US · ETF

Executive Summary: SPDR Gold Mini Shares has compounded at 18.5% annually over the last 10 years, with a maximum drawdown of 17.7% and an annualized volatility of 14.3%.

1Y CAGR
+50.4%
3Y CAGR
+35.7%
5Y CAGR
+20.5%
10Y CAGR
+18.5%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
17.7%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
1.01
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
1.99
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
15.2%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +64.2%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2021 · -4.6%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
88%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
202612.58.5-11.02.3————————11.1%
20256.71.99.55.4-0.00.4-0.65.011.83.65.42.364.2%
2024-1.40.58.73.11.6-0.15.42.15.14.3-3.1-1.327.1%
20235.8-5.37.91.0-1.4-2.22.3-1.3-4.77.42.61.313.0%
2022-1.06.21.3-2.1-3.2-1.6-2.5-2.9-2.9-1.78.43.00.2%
2021-3.2-6.3-1.13.57.6-7.02.40.1-3.31.5-0.72.6-4.6%
20204.6-0.6-0.17.12.62.810.9-0.4-4.1-0.5-5.47.025.1%
20192.8-0.5-1.6-0.71.78.10.17.8-3.32.7-3.23.618.1%
2018——————-2.2-2.0-0.72.10.54.92.4%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 14.3%. The dominant macroeconomic risk driver is GLD.US, accounting for 100.0% of variance. Idiosyncratic stock-specific factors contribute 0.0%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2018-06-0110000
2018-07-019780.439121756486
2018-08-019580.838323353293
2018-09-019508.982035928144
2018-10-019708.582834331337
2018-11-019756.487025948103
2018-12-0110235.528942115769
2019-01-0110526.946107784432
2019-02-0110475.0499001996
2019-03-0110307.385229540918
2019-04-0110235.528942115769
2019-05-0110411.177644710579
2019-06-0111249.500998003992
2019-07-0111256.127744510977
2019-08-0112135.72854291417
2019-09-0111736.526946107784
2019-10-0112047.904191616764
2019-11-0111664.670658682635
2019-12-0112087.824351297404
2020-01-0112638.722554890219
2020-02-0112566.86626746507
2020-03-0112550.898203592815
2020-04-0113445.109780439121
2020-05-0113788.423153692615
2020-06-0114179.640718562876
2020-07-0115720.55888223553
2020-08-0115656.686626746505
2020-09-0115009.98003992016
2020-10-0114938.12375249501
2020-11-0114131.736526946106
2020-12-0115121.756487025948
2021-01-0114642.714570858285
2021-02-0113724.550898203594
2021-03-0113572.854291417165
2021-04-0114051.89620758483
2021-05-0115113.77245508982
2021-06-0114059.880239520957
2021-07-0114403.19361277445
2021-08-0114419.161676646705
2021-09-0113940.119760479041
2021-10-0114155.688622754493
2021-11-0114059.880239520957
2021-12-0114419.161676646705
2022-01-0114275.449101796406
2022-02-0115153.69261477046
2022-03-0115357.285429141715
2022-04-0115037.924151696607
2022-05-0114554.890219560879
2022-06-0114323.353293413174
2022-07-0113968.063872255489
2022-08-0113560.878243512972
2022-09-0113165.66866267465
2022-10-0112938.123752495008
2022-11-0114027.944111776447
2022-12-0114447.10578842315
2023-01-0115281.437125748502
2023-02-0114467.065868263473
2023-03-0115612.774451097805
2023-04-0115764.471057884233
2023-05-0115548.902195608782
2023-06-0115205.58882235529
2023-07-0115560.878243512972
2023-08-0115361.277445109778
2023-09-0114634.730538922155
2023-10-0115716.566866267463
2023-11-0116119.760479041915
2023-12-0116331.3373253493
2024-01-0116103.792415169662
2024-02-0116183.632734530936
2024-03-0117584.830339321357
2024-04-0118123.75249500998
2024-05-0118415.169660678643
2024-06-0118399.201596806386
2024-07-0119389.221556886227
2024-08-0119796.407185628745
2024-09-0120810.379241516966
2024-10-0121712.5748502994
2024-11-0121037.924151696607
2024-12-0120754.491017964072
2025-01-0122147.70459081836
2025-02-0122570.858283433132
2025-03-0124706.586826347302
2025-04-0126051.896207584832
2025-05-0126043.912175648697
2025-06-0126155.68862275449
2025-07-0126007.98403193613
2025-08-0127305.38922155689
2025-09-0130518.962075848303
2025-10-0131612.7744510978
2025-11-0133317.36526946107
2025-12-0134079.840319361276
2026-01-0138327.34530938124
2026-02-0141572.85429141717
2026-03-0137001.99600798403
2026-04-0137860.27944111777
Annual Return Matrix
YearAnnual Return
20190.18096723868954756
20200.25099075297225903
2021-0.046462513199577726
20220.0019379844961240345
20230.13042276872064096
20240.27083842581275985
20250.642046547412964
20260.11092889773925263
Total Factor Risk
0.14328980172824662
VTI.US Exposure
-0.0008866105013843281
VEA.US Exposure
0.00038724715715233413
VWO.US Exposure
-0.0006251896286904367
QQQ.US Exposure
0.00008597019023963552
VTV.US Exposure
-0.0005087073180168277
IJR.US Exposure
0.0008512707030850475
QUAL.US Exposure
0.00035642141885901593
SHV.US Exposure
0.00020519343510450977
TLT.US Exposure
-0.0008741427659474814
LQD.US Exposure
0.0009075524592868165
HYG.US Exposure
-0.00028269641695570025
GLD.US Exposure
0.9995265113106089
USO.US Exposure
0.00007660260256072695
VNQ.US Exposure
0.0004449731599508322
BTC-USD.CC Exposure
0.0000245260302084256
CPER.US Exposure
-0.0004141972817800525
VIX.INDX Exposure
-0.000007889351171518248
UUP.US Exposure
0.000009531651295322646
TIP.US Exposure
0.0006687322144108796
Idiosyncratic Exposure
0.000054900931184143424
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
14.3%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-2.1%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+14.5%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
11.2% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
0.67
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is SPDR Gold Mini Shares a high-risk investment?

SPDR Gold Mini Shares (GLDM.US) has an annualized volatility of 14.3% and experienced a maximum drawdown of 17.7% over the last 10 years. Its primary macro risk driver is GLD.US.

What is the 10-year return of GLDM.US?

Over the past 10 years, GLDM.US has generated a Compound Annual Growth Rate (CAGR) of 18.5%. It has had a positive return in 88% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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