Data as of Oct 28, 2026.
GLDM vs HGER: Differences, Returns & Fees
GLDM is a commodity fund and HGER an equity index fund, and over the year to Oct 28, 2026, HGER returned +46.9% against +2.8%.
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Net assets: $30.6bn on Oct 27, 2026 for SPDR Gold MiniShares Trust, and $5.0bn on Oct 28, 2026 for Harbor Commodity All-Weather Strategy ETF.
Pair scorecard
GLDM costs 0.58 points a year less; their one-year returns differ by 44.1 points; GLDM is 6.1 times larger.
| Measure | GLDM | HGER |
|---|---|---|
| Return | ||
| Total return, 1 year | +2.8% | +46.9% |
| Drawdown | ||
| Below its high | 24.5%, high on Jan 29, 2026 | |
| Benchmark | ||
| What it tracks | Gold | Quantix Commodity Index |
| Cost and size | ||
| Expense ratio | 0.10% | 0.68% |
| Net assets, as of Oct 27, 2026 | $30.6bn | $5.0bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 0% | |
| Holdings dated | Jul 31, 2026 | |
Risk and return
Feb 18, 2022 to Oct 23, 2026 · 244 weekly returnsHGER returned slightly more: +114.7% to +110.0%. GLDM and HGER swung about the same: 17.2% and 17.0%. HGER fell less at its worst: −18.2% to −24.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | GLDM | HGER | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +110.0% | +114.7% | HGER (slight) | Price change plus distributions, reinvested. |
| Annualized | +17.1% | +17.7% | HGER (slight) | Total return as a yearly rate. |
| Price return | +110.0% | +79.8% | GLDM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.2% | 17.0% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.1% | 10.0% | HGER (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −24.0% | −18.2% | HGER | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.76 | 0.80 | HGER (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.18 | 1.35 | HGER | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.71 | 0.97 | HGER | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 244 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
GLDM and HGER on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
GLDM and HGER do different jobs. What does each one do in a portfolio?
- What each follows. GLDM follows Gold and HGER follows Quantix Commodity Index.
- One-year total return. Over 1 year to Oct 28, 2026 GLDM returned +2.8% and HGER +46.9% with distributions reinvested, a gap of 44.1 points.
- Cost. GLDM charges 0.10% of assets a year and HGER 0.68%, a gap of 0.58 points.
Data as of Oct 28, 2026.
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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.
HGER
HGER tracks an index of Harbor Commodity All-Weather Strategy. Over the year to Oct 28, 2026 it returned +46.9% with distributions reinvested. The prospectus expense ratio is 0.68% a year. By its holdings filed for Jul 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 0 positions, with the top ten at not published.
Questions people ask
- Which returned more over the last year, GLDM or HGER?
- In the year to Oct 28, 2026, with distributions reinvested, GLDM returned +2.8% and HGER +46.9%.
- Which is cheaper, GLDM or HGER?
- GLDM is cheaper, by 0.58 percentage points a year. That is about $58 on $10,000 held for a year. Fees come from each fund's own filings.
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ETFIQ, GLDM against HGER, data as of Oct 28, 2026. https://etfiq.com/compare/any/gldm-vs-hger
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[GLDM against HGER (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/gldm-vs-hger)
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