Which returned more over the last year, GLDM or SGOV?

In the year to Oct 28, 2026, with distributions reinvested, GLDM returned +2.8% and SGOV +3.7%.

Which is cheaper, GLDM or SGOV?

SGOV is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's own filings.

Data as of Oct 28, 2026.

Across categories

GLDM vs SGOV: Differences, Returns & Fees

Share on X Download as PDF

GLDM is a commodity fund and SGOV a short-term Treasury fund, and over the year to Oct 28, 2026, SGOV returned +3.7% against +2.8%.

askIQ about this page

askIQ about GLDM and SGOV

Net assets on Oct 27, 2026: $30.6bn for SPDR Gold MiniShares Trust and $117.0bn for iShares 0-3 Month Treasury Bond ETF.

GLDM on its own →SGOV on its own →

At a glance

+2.8%

GLDM total return, 1 year

+3.7%

SGOV total return, 1 year

0.10%

GLDM expense ratio

0.09%

SGOV expense ratio

Pair scorecard

SGOV costs 0.01 points a year less; their one-year returns differ by 0.9 points; SGOV is 3.8 times larger.

GLDM vs SGOV: Differences, Returns & Fees
Measure	GLDM	SGOV
Return
Measure	GLDM	SGOV
Total return, 1 year	+2.8%	+3.7%
Drawdown
Measure	GLDM	SGOV
Below its high	24.5%, high on Jan 29, 2026
Benchmark
Measure	GLDM	SGOV
What it tracks	Gold	ICE 0-3 Month US Treasury Securities Index
Cost and size
Measure	GLDM	SGOV
Expense ratio	0.10%	0.09%
Net assets, as of Oct 27, 2026	$30.6bn	$117.0bn
Holdings
Measure	GLDM	SGOV
Holdings in common	not published

Method

Risk and return

Jun 5, 2020 to Oct 23, 2026 · 333 weekly returns

GLDM SGOV

Return

Total return edge GLDM +136.2% +20.8%

Annualized edge GLDM +14.4% +3.0%

Price return edge GLDM +136.2% +0.6%

Risk

Volatility edge SGOV 16.5% 0.3%

Max drawdown edge SGOV −24.0% 0.0%

Risk-adjusted

Sharpe edge GLDM 0.71 −0.46

Sortino edge GLDM 1.07 −0.57

Calmar 0.60 Not measured

Reading

GLDM returned more: +136.2% to +20.8%. SGOV swung less: 0.3% to 16.5%. SGOV fell less at its worst: 0.0% to −24.0%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: GLDM vs SGOV: Differences, Returns & Fees
Measure	GLDM	SGOV	Edge	How it is measured
Return
Total return	+136.2%	+20.8%	GLDM	Price change plus distributions, reinvested.
Annualized	+14.4%	+3.0%	GLDM	Total return as a yearly rate.
Price return	+136.2%	+0.6%	GLDM	Price change alone, distributions left out.
Risk
Volatility	16.5%	0.3%	SGOV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	10.9%	0.2%	SGOV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−24.0%	0.0%	SGOV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.71	−0.46	GLDM	Return above Treasury bills per unit of volatility.
Sortino	1.07	−0.57	GLDM	Return above Treasury bills per unit of downside deviation.
Calmar	0.60	Not measured		Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 333 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

GLDM SPDR Gold MiniShares Trust SGOV iShares 0-3 Month Treasury Bond ETF

Where it sits Commodity ETF Bond ETF

Issuer State Street iShares

What it is Holds gold Tracks an index of 0-3 month T-bills

Total return, 1 year +2.8% +3.7%

Its benchmark over the same days +2.5% (GLD) not measured

Gap to its benchmark +0.3 pts vs GLD not measured

Expense ratio 0.10% 0.09%

Holdings not counted 22

Net assets, as of Oct 27, 2026 $30.6bn $117.0bn

GLDM and SGOV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-74DA190982

GLDM and SGOV do different jobs. What does each one do in a portfolio?

What each follows. GLDM follows Gold and SGOV follows ICE 0-3 Month US Treasury Securities Index.
Size. GLDM has $30.6bn in net assets and SGOV $117.0bn (net assets, as of Oct 27, 2026); SGOV is 3.8 times larger.
One-year total return (similar). Over 1 year to Oct 28, 2026 GLDM returned +2.8% and SGOV +3.7% with distributions reinvested, a gap of 0.9 points.

Data as of Oct 28, 2026.

The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.

Your saved page · Privacy.

Alert

About each fund

GLDM

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.

SGOV

SGOV tracks an index of 0-3 month T-bills. Over the year to Oct 28, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.09% a year.

Questions people ask

Which returned more over the last year, GLDM or SGOV?: In the year to Oct 28, 2026, with distributions reinvested, GLDM returned +2.8% and SGOV +3.7%.
Which is cheaper, GLDM or SGOV?: SGOV is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

BIL vs GLDM GLDM vs PULS GLDM vs VBIL GLDM vs VUSB IAU vs SGOV SGOV vs USO SGOV vs SLV SGOV vs SIVR

Where to next

GLDM on its own →SGOV on its own →Hold both: look the portfolio through →Rankings →SGOV dividend history →SGOV holdings →Standards and sources →

Sources and dates

State Street website ↗

SGOV filings on SEC EDGAR ↗

SGOV prospectus with the expense ratio (SEC) ↗

iShares page for SGOV ↗

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

Cite this pageCitation, APA and Markdown

ETFIQ, GLDM against SGOV, data as of Oct 28, 2026. https://etfiq.com/compare/any/gldm-vs-sgov

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.