# ETFs and Stocks That Consistently Outperformed GLD (Gold)

> Source: BetterThanSPY research, https://betterthanspy.com/research/etfs-and-stocks-that-outperform-gld
> Data as of October 22, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

GLD (SPDR Gold Shares) screened against the entire market of over 10,000 stocks and ETFs over 8 periods from 1 month to 10 years, with dividends reinvested. To make the list, an investment had to outperform GLD in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period. Returns in the tables are total returns over each period; volatility and Sharpe ratio cover 5 years.

## Key findings

- How hard it was to top GLD: Of over 10,000 stocks and ETFs screened, 67 of 954 eligible ETFs, or 7.0%, and 330 of 1,502 eligible stocks, or 22%, outperformed GLD in a majority of both the short-term and long-term periods. A smaller group was all-weather, including 19 ETFs and 129 stocks that outperformed in every long-term period and all but one short-term period.
- Who came out ahead across the three groups:
  - Popular alternatives: Gold-miner funds RING and GDX qualified, each outperforming in 4 of 5 short-term periods and 3 of 3 long-term periods. SPY led in 5 of 5 short-term periods but managed only 1 of 3 long-term periods, while DGP had the opposite pattern, with 0 of 5 short-term and 3 of 3 long-term periods. Same-index funds SGOL and IAU tied GLD in every period rather than topping it.
  - Top ETFs: Technology and international funds led the top group, with 4 technology ETFs and 5 international ETFs among the top 15 shown. IYW, VGT, XLK, and FTEC each outperformed in all 5 short-term and all 3 long-term periods. The screen found 67 consistent ETFs overall.
  - Top stocks: The screen found 330 consistent stocks, and the top 10 shown include healthcare companies NTRA, MEDP, and LLY, as well as technology company FTNT. These stocks each outperformed in all 5 short-term and all 3 long-term periods.
- The risk trade-off: The top ETFs and stocks generally had larger price swings than GLD over 5 years. The top ETFs had median volatility of 26.1% versus 19.0% for GLD, and only 1 of 15 was less volatile. The top stocks had median volatility of 44.2%, with none of the 10 less volatile than GLD. Higher Sharpe ratios, which measure return relative to risk, were less common among ETFs: 5 of 15 topped GLD's 0.93. About half of the top stocks had higher Sharpe ratios.

## How popular alternatives compare

| Investment | Status | Periods outperformed | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatility | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| GLD: SPDR Gold Shares (benchmark) |  |  | −7.8% | −2.7% | −15.2% | −7.4% | −2.2% | +102% | +120% | +206% | 19.0% | 0.93 |
| RING: iShares MSCI Global Gold Miners ETF | Made the list | 4/5 short, 3/3 long, all-weather | −16.8% | +8.5% | −12.2% | −2.2% | +16.0% | +228% | +184% | +305% | 38.3% | 0.74 |
| GDX: VanEck Gold Miners ETF | Made the list | 4/5 short, 3/3 long, all-weather | −16.5% | +6.5% | −13.5% | −4.7% | +12.8% | +189% | +165% | +274% | 38.3% | 0.70 |
| DGP: DB Gold Double Long ETN | Fell short | 0/5 short, 3/3 long | −16.8% | −6.3% | −31.3% | −20.8% | −14.0% | +213% | +237% | +423% | 40.8% | 0.81 |
| [SPY](https://betterthanspy.com/research/spy): State Street SPDR S&P 500 ETF | Fell short | 5/5 short, 1/3 long | −1.2% | +2.5% | +8.0% | +12.7% | +15.6% | +88.4% | +80.3% | +316% | 17.2% | 0.78 |
| SLV: iShares Silver Trust | Fell short | 1/5 short, 1/3 long | −18.8% | −8.5% | −29.9% | −25.0% | +12.4% | +134% | +119% | +195% | 37.6% | 0.61 |
| DBC: Invesco DB Commodity Index Tracking Fund | Fell short | 5/5 short, 0/3 long | +3.5% | +12.4% | +13.8% | +49.9% | +54.5% | +53.5% | +78.5% | +159% | 19.3% | 0.70 |
| SGOL: abrdn Physical Gold Shares ETF | Same index | about the same returns | −7.8% | −2.6% | −15.1% | −7.1% | −2.0% | +103% | +123% | +212% | 18.9% | 0.95 |
| [IAU](https://betterthanspy.com/research/iau): iShares Gold Trust | Same index | about the same returns | −7.8% | −2.6% | −15.2% | −7.2% | −2.1% | +103% | +122% | +211% | 18.9% | 0.94 |
| BAR: GraniteShares Gold Trust | Fell short | 0/5 short, 0/3 long | −7.8% | −2.7% | −15.2% | −7.2% | −2.1% | +103% | +122% | — | 18.9% | 0.95 |
| GLDM: SPDR Gold MiniShares Trust | Fell short | 0/5 short, 0/3 long | −7.7% | −2.5% | −15.1% | −7.1% | −1.9% | +104% | +123% | — | 18.9% | 0.95 |

## ETFs that consistently outperformed GLD

| Investment | Periods outperformed | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatility | Sharpe | Expense | Assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| GLD: SPDR Gold Shares (benchmark) |  | −7.8% | −2.7% | −15.2% | −7.4% | −2.2% | +102% | +120% | +206% | 19.0% | 0.93 |  |  |
| IYW: iShares U.S. Technology ETF | 5/5 short, 3/3 long, all-weather | −6.4% | +2.4% | +16.3% | +24.7% | +26.1% | +138% | +135% | +773% | 26.7% | 0.78 | 0.37% | $24B |
| [VGT](https://betterthanspy.com/research/vgt): Vanguard Information Technology ETF | 5/5 short, 3/3 long, all-weather | −6.1% | +2.7% | +15.4% | +25.9% | +26.7% | +135% | +130% | +753% | 26.1% | 0.77 | 0.09% | $178B |
| [XLK](https://betterthanspy.com/research/xlk): State Street Technology Select Sector SPDR ETF | 5/5 short, 3/3 long, all-weather | −7.1% | +1.3% | +15.6% | +26.8% | +28.4% | +126% | +139% | +741% | 26.1% | 0.80 | 0.08% | $125B |
| FTEC: Fidelity MSCI Information Technology Index ETF | 5/5 short, 3/3 long, all-weather | −6.1% | +2.6% | +15.4% | +25.9% | +26.9% | +136% | +132% | +737% | 26.1% | 0.78 | 0.08% | $22B |
| DXJ: WisdomTree Japan Hedged Equity Fund | 5/5 short, 3/3 long, all-weather | −2.3% | +0.4% | +10.4% | +23.0% | +34.3% | +125% | +225% | +415% | 19.1% | 1.34 | 0.48% | $8.1B |
| UGA: United States Gasoline Fund, LP | 5/5 short, 3/3 long, all-weather | −0.6% | +16.0% | +32.8% | +132% | +125% | +117% | +227% | +401% | 35.1% | 0.85 | 1.08% | $167M |
| BNO: United States Brent Oil Fund LP | 5/5 short, 3/3 long, all-weather | +19.0% | +34.0% | +36.4% | +144% | +139% | +118% | +205% | +359% | 37.1% | 0.79 | 1.15% | $768M |
| OPPJ: WisdomTree Japan Opportunities Fund | 5/5 short, 3/3 long, all-weather | −6.3% | 0.0% | +5.4% | +22.7% | +35.9% | +124% | +195% | +352% | 18.4% | 1.27 | 0.58% | $333M |
| DBJP: Xtrackers MSCI Japan Hedged Equity ETF | 5/5 short, 3/3 long, all-weather | −4.5% | −0.8% | +8.0% | +19.7% | +27.7% | +110% | +158% | +339% | 19.3% | 1.09 | 0.45% | $726M |
| HEWJ: iShares Currency Hedged MSCI Japan ETF | 5/5 short, 3/3 long, all-weather | −4.3% | −0.8% | +7.8% | +19.7% | +27.4% | +110% | +157% | +336% | 19.4% | 1.07 | 1.02% | $639M |
| CRAK: VanEck Oil Refiners ETF | 5/5 short, 3/3 long, all-weather | +0.5% | +15.8% | +36.4% | +69.7% | +74.3% | +118% | +143% | +325% | 20.9% | 0.96 | 0.61% | $810M |
| EPOL: iShares MSCI Poland ETF | 5/5 short, 3/3 long, all-weather | −3.2% | +6.6% | +12.3% | +22.6% | +35.8% | +171% | +125% | +222% | 29.2% | 0.70 | 0.59% | $1.0B |
| IXN: iShares Global Tech ETF | 4/5 short, 3/3 long, all-weather | −8.8% | −0.5% | +14.3% | +28.7% | +31.1% | +140% | +137% | +693% | 26.2% | 0.79 | 0.37% | $9.1B |
| IGM: iShares Expanded Tech Sector ETF | 4/5 short, 3/3 long, all-weather | −7.9% | +0.2% | +11.0% | +21.4% | +23.1% | +149% | +126% | +686% | 26.6% | 0.75 | 0.37% | $11B |
| EWT: iShares MSCI Taiwan ETF | 4/5 short, 3/3 long, all-weather | −9.7% | +2.3% | +20.7% | +60.6% | +67.3% | +187% | +147% | +448% | 24.3% | 0.87 | 0.59% | $12B |

## Stocks that consistently outperformed GLD

| Investment | Periods outperformed | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatility | Sharpe | Market cap |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| GLD: SPDR Gold Shares (benchmark) |  | −7.8% | −2.7% | −15.2% | −7.4% | −2.2% | +102% | +120% | +206% | 19.0% | 0.93 |  |
| [NTRA](https://betterthanspy.com/research/ntra): Natera, Inc. | 5/5 short, 3/3 long, all-weather | +2.7% | +51.9% | +93.2% | +75.4% | +113% | +901% | +249% | +3,934% | 57.6% | 0.73 | $58B |
| [FTNT](https://betterthanspy.com/research/ftnt): Fortinet, Inc. | 5/5 short, 3/3 long, all-weather | −0.7% | +11.6% | +98.6% | +122% | +104% | +208% | +158% | +2,668% | 44.8% | 0.65 | $127B |
| BWLP: BW LPG Limited | 5/5 short, 3/3 long, all-weather | +1.2% | +20.7% | +46.1% | +116% | +129% | +232% | +966% | +2,648% | 50.9% | 1.19 | $3.8B |
| MEDP: Medpace Holdings, Inc. | 5/5 short, 3/3 long, all-weather | +3.8% | +23.8% | +28.6% | +14.5% | +19.6% | +187% | +250% | +2,003% | 52.1% | 0.73 | $18B |
| [LLY](https://betterthanspy.com/research/lly): Eli Lilly and Company | 5/5 short, 3/3 long, all-weather | +11.7% | +12.5% | +42.3% | +21.5% | +61.9% | +131% | +461% | +1,870% | 32.8% | 1.22 | $1.2T |
| LPG: Dorian LPG Ltd. | 5/5 short, 3/3 long, all-weather | −3.9% | +19.7% | +49.2% | +123% | +107% | +123% | +817% | +1,827% | 43.6% | 1.24 | $2.2B |
| COKE: Coca-Cola Consolidated, Inc. | 5/5 short, 3/3 long, all-weather | +12.5% | +16.7% | +15.1% | +44.1% | +67.4% | +257% | +468% | +1,564% | 38.0% | 1.11 | $14B |
| [URI](https://betterthanspy.com/research/uri): United Rentals, Inc. | 5/5 short, 3/3 long, all-weather | +6.5% | +7.5% | +38.9% | +32.3% | +13.0% | +179% | +213% | +1,407% | 39.1% | 0.78 | $69B |
| [MPC](https://betterthanspy.com/research/mpc): Marathon Petroleum Corporation | 5/5 short, 3/3 long, all-weather | +17.9% | +45.8% | +108% | +181% | +148% | +226% | +660% | +1,314% | 33.4% | 1.39 | $129B |
| CVI: CVR Energy, Inc. | 5/5 short, 3/3 long, all-weather | +12.5% | +68.6% | +88.5% | +134% | +62.6% | +105% | +289% | +1,306% | 52.4% | 0.79 | $5.9B |

## What stands out

The ETF results point to leadership from technology and international markets, while commodity funds also appeared among the top ETFs. Technology ETFs such as IYW, VGT, XLK, and FTEC kept ahead of GLD in both the short and long term, rather than relying only on recent gains. Among popular alternatives, gold-miner funds RING and GDX also cleared the screen, but their returns need not match the price of physical gold.

The stock leaders came from a wider set of sectors, including healthcare, technology, industrials, and energy. The all-period records of the leading names show that their advantage extended across the measured windows, but the top stocks' median volatility was roughly double or more GLD's. Their median Sharpe ratio was 0.95, just above GLD's 0.93, and about half had higher Sharpe ratios. The returns came with a bumpier ride, and the risk-adjusted results varied among the winners.

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## Explore further

- Full page: https://betterthanspy.com/research/etfs-and-stocks-that-outperform-gld
- All research pages: https://betterthanspy.com/llms.txt