GLDM’s worst drop since 2018 was 26%
SPDR Gold MiniShares (GLDM) fell 26% from Jan 2026 to Jul 2026. It has not closed above that Jan 2026 peak since, 0.7 years later. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 166th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2018 to now
How GLDM held up in each crash
| Crash | Years | GLDM | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −12.5% | −33.7% |
| 2022 rate shock | 2022 | −20.9% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
See how GLDM behaves inside your whole mix, with the worst 12 months, loss odds and crash replays. Free, no signup, and the math runs in your browser.
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What was GLDM’s maximum drawdown?
GLDM’s deepest fall since 2018 was 26.3%, from its high on January 29, 2026 to its low on July 16, 2026. The figure uses daily prices with dividends reinvested.
How long did GLDM take to recover?
It has not recovered yet. As of October 13, 2026 it sits 22.8% below that Jan 2026 high.
Was GLDM riskier than the S&P 500?
Over the same years, GLDM’s worst drop was 26.3% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −15.0% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, June 27, 2018 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.