Data as of Oct 28, 2026.
ACWX vs GLDM: Differences, Returns & Fees
ACWX is an equity index fund and GLDM a commodity fund, and over the year to Oct 28, 2026, ACWX returned +14.3% against +2.8%.
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Net assets on Oct 27, 2026: $17.9bn for iShares MSCI ACWI ex U.S. ETF and $30.6bn for SPDR Gold MiniShares Trust.
Pair scorecard
GLDM costs 0.22 points a year less; their one-year returns differ by 11.5 points; GLDM is 1.7 times larger.
| Measure | ACWX | GLDM |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.3% | +2.8% |
| Drawdown | ||
| Below its high | 4.9%, high on Sep 4, 2026 | 24.5%, high on Jan 29, 2026 |
| Benchmark | ||
| What it tracks | MSCI ACWI ex USA Index | Gold |
| Cost and size | ||
| Expense ratio | 0.32% | 0.10% |
| Net assets, as of Oct 27, 2026 | $17.9bn | $30.6bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 15.6% | |
Risk and return
Jul 6, 2018 to Oct 23, 2026 · 433 weekly returnsGLDM returned more: +215.1% to +91.7%. GLDM swung slightly less: 16.0% to 17.4%. GLDM fell less at its worst: −24.0% to −33.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWX | GLDM | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +91.7% | +215.1% | GLDM | Price change plus distributions, reinvested. |
| Annualized | +8.1% | +14.8% | GLDM | Total return as a yearly rate. |
| Price return | +54.5% | +215.1% | GLDM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.4% | 16.0% | GLDM (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.5% | 10.5% | GLDM | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −33.2% | −24.0% | GLDM | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.38 | 0.77 | GLDM | Return above Treasury bills per unit of volatility. |
| Sortino | 0.53 | 1.17 | GLDM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.25 | 0.62 | GLDM | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 433 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
ACWX and GLDM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWX and GLDM do different jobs. What does each one do in a portfolio?
- What each follows. ACWX follows MSCI ACWI ex USA Index and GLDM follows Gold.
- One-year total return. Over 1 year to Oct 28, 2026 ACWX returned +14.3% and GLDM +2.8% with distributions reinvested, a gap of 11.5 points.
- Cost. ACWX charges 0.32% of assets a year and GLDM 0.10%, a gap of 0.22 points.
Data as of Oct 28, 2026.
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ACWX
ACWX tracks the MSCI ACWI ex U.S.. Over the year to Oct 28, 2026 it returned +14.3% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,939 positions, with the top ten at 15.6%. It sat 4.9% below its high of Sep 4, 2026 on Oct 28, 2026.
Its expense ratio is 0.10% a year, for the three months to Jun 30, 2026, as its 10-Q states.
GLDM holds gold. Over the year to Oct 28, 2026 it returned +2.8% with distributions reinvested, against +2.5% for its benchmark, the price of gold. It sat 24.5% below its high of Jan 29, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, ACWX or GLDM?
- In the year to Oct 28, 2026, with distributions reinvested, ACWX returned +14.3% and GLDM +2.8%.
- Which is cheaper, ACWX or GLDM?
- GLDM is cheaper, by 0.22 percentage points a year. That is about $22 on $10,000 held for a year. Fees come from each fund's own filings.
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ETFIQ, ACWX against GLDM, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwx-vs-gldm
ETFIQ. (Oct 28, 2026). ACWX against GLDM. Retrieved from https://etfiq.com/compare/any/acwx-vs-gldm
[ACWX against GLDM (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwx-vs-gldm)
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