GLD,SPY: Total Real Return Chart (Dividends Reinvested, Inflation Adjusted)

Thu 2004-11-18? to Fri 2026-01-09	YTD Return	TRR Price
GLD ×	+4.52% 2026-01-09	5.487 TRR 2026-01-09
SPDR Gold Shares Exchange-Traded Fund
SPY ×	+1.72% 2026-01-09	12.56 TRR 2026-01-09
SPDR S&P 500 ETF Trust Exchange-Traded Fund

---

Returns

Thu 2004-11-18? to Fri 2026-01-09	Overall Return	Exponential Trendline
GLD ×	+448.75% +8.39%/yr	+4.01%/yr (R2=0.534)
SPDR Gold Shares Exchange-Traded Fund
SPY ×	+408.70% +8.00%/yr	+8.63%/yr (R2=0.896)
SPDR S&P 500 ETF Trust Exchange-Traded Fund

---

Growth of $10,000

Thu 2004-11-18? to Fri 2026-01-09	Start Value	End Value
GLD ×	$10,000.00 2004-11-18	$54,874.88 2026-01-09
SPDR Gold Shares Exchange-Traded Fund
SPY ×	$10,000.00 2004-11-18	$50,869.98 2026-01-09
SPDR S&P 500 ETF Trust Exchange-Traded Fund

---

Annual Returns

Year	GLD	SPY
2026 (YTD)	+4.52%	+1.72%
2025	+59.05%	+14.39%
2024	+23.11%	+21.39%
2023	+9.04%	+22.09%
2022	−6.80%	−23.14%
2021	−10.45%	+20.27%
2020	+23.13%	+16.74%
2019	+15.22%	+28.29%
2018	−3.77%	−6.35%
2017	+10.47%	+19.19%
2016	+5.85%	+9.73%
2015	−11.32%	+0.50%
2014	−2.92%	+12.61%
2013	−29.39%	+30.35%
2012	+4.78%	+14.01%
2011	+6.40%	−1.04%
2010	+27.37%	+13.36%
2009	+20.74%	+23.01%
2008	+4.83%	−36.85%
2007	+25.32%	+1.01%
2006	+19.54%	+13.00%
2005	+13.86%	+1.36%
2004	−0.97%	+7.20%
2003	—	+25.82%
2002	—	−23.40%
2001	—	−13.11%
2000	—	−12.70%
1999	—	+17.25%
1998	—	+26.65%
1997	—	+31.24%
1996	—	+18.57%
1995	—	+34.63%
1994	—	−2.21%
1993	—	+6.28%

---

Drawdowns

Thu 2004-11-18? to Fri 2026-01-09	Current Drawdown	Worst Drawdown
GLD ×	−0.64%	−47.98% 2015-12-17
SPDR Gold Shares Exchange-Traded Fund
SPY ×	0.00%	−55.98% 2009-03-09
SPDR S&P 500 ETF Trust Exchange-Traded Fund