Data as of Oct 28, 2026.
GLDM vs VWO: Differences, Returns & Fees
GLDM is a commodity fund and VWO an equity index fund, and over the year to Oct 28, 2026, VWO returned +4.8% against +2.8%.
askIQ about this page
askIQ about GLDM and VWO
Net assets: $30.6bn on Oct 27, 2026 for SPDR Gold MiniShares Trust, and $125.4bn on Sep 30, 2026 for Vanguard FTSE Emerging Markets ETF.
Pair scorecard
VWO costs 0.04 points a year less; their one-year returns differ by 2.0 points; VWO is 4.1 times larger.
| Measure | GLDM | VWO |
|---|---|---|
| Return | ||
| Total return, 1 year | +2.8% | +4.8% |
| Drawdown | ||
| Below its high | 24.5%, high on Jan 29, 2026 | 7.0%, high on Sep 4, 2026 |
| Benchmark | ||
| What it tracks | Gold | FTSE Emerging Markets All Cap China A Inclusion Index |
| Cost and size | ||
| Expense ratio | 0.10% | 0.06% |
| Net assets, as of Sep 30, 2026 | $30.7bn | $125.4bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 29.8% | |
Risk and return
Jul 6, 2018 to Oct 23, 2026 · 433 weekly returnsGLDM returned more: +215.1% to +70.8%. GLDM swung slightly less: 16.0% to 17.8%. GLDM fell less at its worst: −24.0% to −33.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | GLDM | VWO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +215.1% | +70.8% | GLDM | Price change plus distributions, reinvested. |
| Annualized | +14.8% | +6.6% | GLDM | Total return as a yearly rate. |
| Price return | +215.1% | +34.5% | GLDM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.0% | 17.8% | GLDM (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.5% | 12.8% | GLDM | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −24.0% | −33.5% | GLDM | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.77 | 0.29 | GLDM | Return above Treasury bills per unit of volatility. |
| Sortino | 1.17 | 0.41 | GLDM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.62 | 0.20 | 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
GLDM and VWO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
GLDM and VWO do different jobs. What does each one do in a portfolio?
- What each follows. GLDM follows Gold and VWO follows FTSE Emerging Markets All Cap China A Inclusion Index.
- One-year total return. Over 1 year to Oct 28, 2026 GLDM returned +2.8% and VWO +4.8% with distributions reinvested, a gap of 2.0 points.
- Size. GLDM has $30.7bn in net assets and VWO $125.4bn (net assets, as of Sep 30, 2026); VWO is 4.1 times larger.
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.
VWO
VWO tracks an index of Emerging markets. Over the year to Oct 28, 2026 it returned +4.8% with distributions reinvested. The prospectus expense ratio is 0.06% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 6,515 positions, with the top ten at 29.8%. It sat 7.0% below its high of Sep 4, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, GLDM or VWO?
- In the year to Oct 28, 2026, with distributions reinvested, GLDM returned +2.8% and VWO +4.8%.
- Which is cheaper, GLDM or VWO?
- VWO is cheaper, by 0.04 percentage points a year. That is about $4 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 VWO, data as of Oct 28, 2026. https://etfiq.com/compare/any/gldm-vs-vwo
ETFIQ. (Oct 28, 2026). GLDM against VWO. Retrieved from https://etfiq.com/compare/any/gldm-vs-vwo
[GLDM against VWO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/gldm-vs-vwo)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.