Are GLD and THEQ in the same category?

GLD is a commodity ETF and THEQ is an alternatives ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, GLD or THEQ?

In the year to Nov 4, 2026, with distributions reinvested, GLD returned +2.8% and THEQ +9.1%.

Which is cheaper, GLD or THEQ?

GLD is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's own filings.

Data as of Nov 4, 2026.

Across categories

GLD vs THEQ: Differences, Returns & Fees

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Over the year to Nov 4, 2026, GLD returned +2.8% to THEQ's +9.1%, and GLD charges 0.40% to THEQ's 0.46%.

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Net assets on Nov 3, 2026: $131.3bn for SPDR Gold Shares and $38m for T. Rowe Price Hedged Equity ETF.

GLD on its own →THEQ on its own →

At a glance

+2.8%

GLD total return, 1 year

+9.1%

THEQ total return, 1 year

0.40%

GLD expense ratio

0.46%

THEQ expense ratio

Pair scorecard

GLD costs 0.06 points a year less; their one-year returns differ by 6.3 points; GLD is far larger, $131.3bn against $38m.

GLD vs THEQ: Differences, Returns & Fees
Measure	GLD	THEQ
Return
Measure	GLD	THEQ
Total return, 1 year	+2.8%	+9.1%
Total return, 52 weeks		+9.0%
Drawdown
Measure	GLD	THEQ
Below its high	24.9%, high on Jan 29, 2026
Against its benchmark
Measure	GLD	THEQ
What it tracks	Gold	not published
Treasury bills, 52 weeks		+3.7%
Against cash		5.3 points ahead
Cost and size
Measure	GLD	THEQ
Expense ratio	0.40%	0.46%
Net assets, as of Nov 3, 2026	$131.3bn	$38m
Holdings
Measure	GLD	THEQ
Holdings in common	not published
Risk
Measure	GLD	THEQ
Correlation with the S&P 500’s weekly returns		+0.99
Beta to the S&P 500		+0.69: about 0.69% for each 1%
Its average week when the S&P 500 fell		fell 0.77%
Down-week capture		72.3%
Weeks the S&P 500 fell		26 of 52, by 1.07% on average

Method

Side by side

GLD SPDR Gold Shares THEQ T. Rowe Price Hedged Equity ETF

Where it sits Commodity ETF Alternatives ETF

Issuer State Street T. Rowe Price

What it is Holds gold Hedged equity

Total return, 1 year +2.8% +9.1%

Its benchmark over the same days +2.9% (IAU) +14.8% (IWV)

Gap to its benchmark −0.1 pts vs IAU −5.7 pts vs IWV

Expense ratio 0.40% 0.46%

Net assets, as of Nov 3, 2026 $131.3bn $38m

GLD and THEQ on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

Alert

About each fund

GLD

Its expense ratio is 0.40% a year, for the three months to Jun 30, 2026, as its 10-Q states.

GLD holds gold. Over the year to Nov 4, 2026 it returned +2.8% with distributions reinvested, against +2.9% for its benchmark, the price of gold. It sat 24.9% below its high of Jan 29, 2026 on Nov 4, 2026.

THEQ

THEQ is a hedged equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.99 with the S&P 500’s and a beta of +0.69, so for each 1% the index moved it moved about 0.69% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks THEQ fell 0.77% on average, a down-week capture of 72.3%. Over the same 52 weeks THEQ returned +9.0% and a Treasury bill fund +3.7%, so it finished 5.3 percentage points ahead of cash.

Questions people ask

Are GLD and THEQ in the same category?: GLD is a commodity ETF and THEQ is an alternatives ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, GLD or THEQ?: In the year to Nov 4, 2026, with distributions reinvested, GLD returned +2.8% and THEQ +9.1%.
Which is cheaper, GLD or THEQ?: GLD is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

GLD vs ZHDG GLD vs HEQQ CCOR vs GLD GLD vs QBUL THEQ vs VOO QQQ vs THEQ SPY vs THEQ IVV vs THEQ

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →GLD on its own →THEQ on its own →Hold both: look the portfolio through →Rankings →THEQ dividend history →Standards and sources →

Sources and dates

State Street website ↗

THEQ filings on SEC EDGAR ↗

THEQ prospectus with the expense ratio (SEC) ↗

T. Rowe Price website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, GLD against THEQ, data as of Nov 4, 2026. https://etfiq.com/compare/any/gld-vs-theq

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