SPDR Gold Shares (GLD) Performance
GLD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −7.5% since Dec 31, 2025
- 1 year
- −3.2% total return
- 5 years
- +16.9% a year
- 10 years
- +11.7% a year
- Since first price
- +10.1% a year since 2004
GLD trailing returns vs SPY, QQQ, AGG
| Period | GLD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −6.7% | −6.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.3% | −1.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −14.9% | −14.9% | +7.8% | +8.4% | −1.5% |
| YTD | −7.5% | −7.5% | +12.3% | +15.1% | −1.0% |
| 1 year | −3.2% | −3.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +100.4%+26.1%/yr | +100.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +118.5%+16.9%/yr | +118.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +203.4%+11.7%/yr | +203.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +129.8%+5.7%/yr | +129.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +534.7%+9.7%/yr | +534.7% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionNov 18, 2004 | +726.1%+10.1%/yr | +726.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GLD vs SPY
From Nov 18, 2004: GLD grew to $82,607, SPY to $95,539.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GLD returns by calendar year
15 of 21 full years positive. Best 2025 (+63.7%), worst 2013 (−28.3%). 2026 is year to date.
GLD annual returns table
| Year | GLD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −7.5% | −26.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +63.7% | −10.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +26.7% | −8.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +12.7% | −11.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −0.8% | −21.0% | −18.2% | −32.6% | −13.0% |
| 2021 | −4.1% | −13.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +24.8% | −14.0% | +18.3% | +48.6% | +7.5% |
| 2019 | +17.9% | −6.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −1.9% | −13.8% | −4.6% | −0.1% | +0.1% |
| 2017 | +12.8% | −7.9% | +21.7% | +32.7% | +3.6% |
| 2016 | +8.0% | −17.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −10.7% | −19.7% | +1.2% | +9.4% | +0.5% |
| 2014 | −2.2% | −17.5% | +13.5% | +19.2% | +6.0% |
| 2013 | −28.3% | −29.8% | +32.3% | +36.6% | −2.0% |
| 2012 | +6.6% | −13.9% | +16.0% | +18.1% | +3.8% |
| 2011 | +9.6% | −18.6% | +1.9% | +3.4% | +7.7% |
| 2010 | +29.3% | −7.8% | +15.1% | +19.9% | +6.4% |
| 2009 | +24.0% | −12.9% | +26.4% | +54.7% | +3.0% |
| 2008 | +4.9% | −29.4% | −36.8% | −41.7% | +7.9% |
| 2007 | +30.5% | −7.6% | +5.1% | +19.0% | +6.6% |
| 2006 | +22.5% | −21.8% | +15.8% | +7.1% | +3.9% |
| 2005 | +17.8% | −6.7% | +4.8% | +1.6% | +2.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GLD largest drawdowns
Now 26.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 22, 2011 | −45.6% | Dec 17, 2015 | Jul 29, 2020 | 4.3 years | 8.9 years |
| Mar 17, 2008 | −29.4% | Nov 12, 2008 | Sep 16, 2009 | 8 months | 1.5 years |
| Jan 29, 2026 | −26.4% | Jul 16, 2026 | not yet | 6 months | 9 months so far |
| Aug 6, 2020 | −22.0% | Sep 26, 2022 | Mar 4, 2024 | 2.1 years | 3.6 years |
| May 12, 2006 | −21.8% | Jun 14, 2006 | Sep 18, 2007 | 33 days | 1.4 years |
| Dec 2, 2009 | −12.7% | Feb 8, 2010 | May 11, 2010 | 2 months | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
GLD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2004 |
|---|---|---|---|---|
| Annualized return | +30.5% | +18.3% | +11.7% | +10.3% |
| Volatility (annualized) | 19.0% | 17.2% | 15.5% | 17.3% |
| Sharpe ratio | 1.28 | 0.86 | 0.65 | — |
| Sortino ratio | 2.25 | 1.52 | 1.13 | — |
| Best month | +12.3% | +12.3% | +12.3% | +12.8% |
| Worst month | −11.7% | −11.7% | −11.7% | −16.1% |
| Best 12 months | +83.7% | +83.7% | +83.7% | +83.7% |
| Worst 12 months | +7.1% | −8.8% | −9.8% | −28.3% |
| Positive months | 69% | 58% | 52% | 53% |
| Beta vs S&P 500 | -0.02 | 0.18 | 0.14 | — |
| Correlation with S&P 500 | -0.02 | 0.16 | 0.14 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GLD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 252 | −28.3% | +10.1% | +83.7% | 70% |
| 3-year (a year) | 228 | −15.0% | +10.2% | +41.8% | 79% |
| 5-year (a year) | 204 | −8.1% | +8.2% | +24.5% | 76% |
| 10-year (a year) | 144 | −1.1% | +4.6% | +15.3% | 94% |
Every holding period starting at a month-end since 2004. Returns for 3 years and longer are annualized.
GLD performance overview
SPDR Gold Shares (GLD) returned −3.2% over the past year and +11.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2004 it has returned +10.1% a year, turning $10,000 into about $82,607. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −45.6%, from Aug 22, 2011 to Dec 17, 2015, and it took 4.6 years to get back to the old high. GLD finished 15 of its 21 full calendar years with a gain; the best year was 2025 (+63.7%) and the worst 2013 (−28.3%). Volatility has been 17.3% a year.
Related: GLD chart. See the GLD overview for the latest quote and fund facts.
GLD performance FAQ
What is the GLD return over the past year?
GLD returned −3.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.2%.
What is the average annual return of GLD?
GLD has returned +16.9% a year over 5 years, +11.7% a year over 10 years, +10.1% a year since November 18, 2004 (total return, distributions reinvested).
How much would $10,000 invested in GLD be worth?
$10,000 invested in GLD at its first recorded close on November 18, 2004 would be worth about $82,607 on October 23, 2026 with distributions reinvested.
What was the worst year for GLD?
The worst calendar year was 2013, with a total return of −28.3%. The best was 2025 at +63.7%.
What is the biggest drawdown of GLD?
The largest peak-to-trough decline was −45.6% between August 22, 2011 and December 17, 2015. It recovered to the old high on July 29, 2020, 4.6 years after the bottom.
How volatile is GLD?
Over the past 3 years GLD had an annualized volatility of 19.0% and a Sharpe ratio of 1.28 (excess return over 1–3 month T-bills per unit of risk).