Data as of Oct 28, 2026.
GLDM vs VGSH: Differences, Returns & Fees
GLDM is a commodity fund and VGSH a bond index fund, and over the year to Oct 28, 2026, GLDM returned +2.8% against +1.7%.
askIQ about this page
askIQ about GLDM and VGSH
Net assets: $30.6bn on Oct 27, 2026 for SPDR Gold MiniShares Trust, and $35.1bn on Sep 30, 2026 for Vanguard Short-Term Treasury ETF.
Pair scorecard
VGSH costs 0.07 points a year less; their one-year returns differ by 1.1 points; VGSH is 1.1 times larger.
| Measure | GLDM | VGSH |
|---|---|---|
| Return | ||
| Total return, 1 year | +2.8% | +1.7% |
| Drawdown | ||
| Below its high | 24.5%, high on Jan 29, 2026 | |
| Benchmark | ||
| What it tracks | Gold | Bloomberg U.S. Treasury 1-3 Year Index |
| Cost and size | ||
| Expense ratio | 0.10% | 0.03% |
| Net assets, as of Sep 30, 2026 | $30.7bn | $35.1bn |
| Holdings | ||
| Holdings in common | not published | |
Risk and return
Jul 6, 2018 to Oct 23, 2026 · 433 weekly returnsEach against its own benchmark: GLDM against GLD, Jul 6, 2018 to Oct 23, 2026; VGSH against SCHO, Aug 13, 2010 to Oct 23, 2026.
GLDM returned more: +215.1% to +19.3%. VGSH swung less: 1.6% to 16.0%. VGSH fell less at its worst: −5.5% to −24.0%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GLDM | VGSH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +215.1% | +19.3% | GLDM | Price change plus distributions, reinvested. |
| Annualized | +14.8% | +2.1% | GLDM | Total return as a yearly rate. |
| Price return | +215.1% | −3.5% | GLDM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.0% | 1.6% | VGSH | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.5% | 1.1% | VGSH | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −24.0% | −5.5% | VGSH | Deepest fall from a high to the low after it. |
| Upside capture | 100.0% | 97.7% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.6% | 96.0% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 0.98 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.94 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.77 | −0.42 | GLDM | Return above Treasury bills per unit of volatility. |
| Sortino | 1.17 | −0.59 | GLDM | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.123 | −0.002 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.62 | 0.39 | GLDM | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | GLD | SCHO | The ETF each fund is measured against. | |
| Alpha | +0.3% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 1.42 | 0.22 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.1% to +0.7% | −0.1% to +0.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.43 | 0.07 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.6% | 0.3% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
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
GLDM and VGSH on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
GLDM and VGSH do different jobs. What does each one do in a portfolio?
- What each follows. GLDM follows Gold and VGSH follows Bloomberg U.S. Treasury 1-3 Year Index.
- One-year total return (similar). Over 1 year to Oct 28, 2026 GLDM returned +2.8% and VGSH +1.7% with distributions reinvested, a gap of 1.1 points.
- Cost (similar). GLDM charges 0.10% of assets a year and VGSH 0.03%, a gap of 0.07 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.
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.
VGSH
VGSH tracks an index of Short-Term Treasury. Over the year to Oct 28, 2026 it returned +1.7% with distributions reinvested, against +1.8% for its benchmark, the Bloomberg U.S. Treasury 1-3 Year Index. The prospectus expense ratio is 0.03% a year.
Questions people ask
- Which returned more over the last year, GLDM or VGSH?
- In the year to Oct 28, 2026, with distributions reinvested, GLDM returned +2.8% and VGSH +1.7%.
- Which is cheaper, GLDM or VGSH?
- VGSH is cheaper, by 0.07 percentage points a year. That is about $7 on $10,000 held for a year. Fees come from each fund's own filings.
Links are sources, not endorsements. A comparison is not a recommendation.
Cite this pageCitation, APA and Markdown
ETFIQ, GLDM against VGSH, data as of Oct 28, 2026. https://etfiq.com/compare/any/gldm-vs-vgsh
ETFIQ. (Oct 28, 2026). GLDM against VGSH. Retrieved from https://etfiq.com/compare/any/gldm-vs-vgsh
[GLDM against VGSH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/gldm-vs-vgsh)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.