SPY vs GLD — 20-Year Performance Comparison
S&P 500 vs Gold — backtested 2005–2024
SPY wins$70,709 vs $55,289 on $10,000 over 20 years
SPYS&P 500
Final value$70,709
CAGR+10.3%
Max drawdown-37.0%
Best year+32% (2013)
Years won10 of 20
GLDGold
Final value$55,289
CAGR+8.9%
Max drawdown-37.4%
Best year+31% (2007)
Years won10 of 20
Growth of $10,000
2005–2024SPYGLD
SPY$70,709
GLD$55,289
50/50 mix$70,105
50/50 blend: $70,105 (+10.2%/yr CAGR)
Splitting equally between SPY and GLD would have landed between the two — slightly lower CAGR than SPY but less volatility. Try a custom split →
Year-by-year: SPY vs GLD
| Year | SPY | GLD | Winner |
|---|---|---|---|
| 2024 | +23.3% | +26.7% | GLD |
| 2023 | +26.3% | +12.7% | SPY |
| 2022 | -18.2% | -0.8% | GLD |
| 2021 | +28.7% | -4.2% | SPY |
| 2020 | +18.4% | +24.8% | GLD |
| 2019 | +31.5% | +17.9% | SPY |
| 2018 | -4.4% | -1.9% | GLD |
| 2017 | +21.8% | +12.8% | SPY |
| 2016 | +12.0% | +8.0% | SPY |
| 2015 | +1.4% | -10.7% | SPY |
| 2014 | +13.7% | -2.2% | SPY |
| 2013 | +32.4% | -28.3% | SPY |
| 2012 | +16.0% | +6.6% | SPY |
| 2011 | +2.1% | +9.6% | GLD |
| 2010 | +15.1% | +29.3% | GLD |
| 2009 | +26.5% | +24.0% | SPY |
| 2008 | -37.0% | +5.0% | GLD |
| 2007 | +5.5% | +30.6% | GLD |
| 2006 | +15.8% | +22.2% | GLD |
| 2005 | +4.9% | +18.0% | GLD |
More comparisons
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