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

Thu 2004-11-18? to Fri 2025-05-16	YTD Return	TRR Price
GLD ×	+19.43% 2025-05-16	3.943 TRR 2025-05-16
SPDR Gold Shares Exchange-Traded Fund
SPY ×	−0.05% 2025-05-16	10.79 TRR 2025-05-16
SPDR S&P 500 ETF Trust Exchange-Traded Fund

---

Returns

Thu 2004-11-18? to Fri 2025-05-16	Overall Return	Exponential Trendline
GLD ×	+294.27% +6.92%/yr	+3.68%/yr (R2=0.489)
SPDR Gold Shares Exchange-Traded Fund
SPY ×	+336.94% +7.46%/yr	+8.48%/yr (R2=0.886)
SPDR S&P 500 ETF Trust Exchange-Traded Fund

---

Growth of $10,000

Thu 2004-11-18? to Fri 2025-05-16	Start Value	End Value
GLD ×	$10,000.00 2004-11-18	$39,426.50 2025-05-16
SPDR Gold Shares Exchange-Traded Fund
SPY ×	$10,000.00 2004-11-18	$43,694.39 2025-05-16
SPDR S&P 500 ETF Trust Exchange-Traded Fund

---

Annual Returns

Year	GLD	SPY
2025 (YTD)	+19.43%	−0.05%
2024	+23.11%	+21.39%
2023	+9.04%	+22.09%
2022	−6.80%	−23.15%
2021	−10.45%	+20.27%
2020	+23.14%	+16.74%
2019	+15.22%	+28.29%
2018	−3.77%	−6.35%
2017	+10.47%	+19.18%
2016	+5.84%	+9.73%
2015	−11.32%	+0.50%
2014	−2.92%	+12.61%
2013	−29.39%	+30.35%
2012	+4.78%	+14.02%
2011	+6.41%	−1.05%
2010	+27.37%	+13.36%
2009	+20.74%	+23.00%
2008	+4.83%	−36.85%
2007	+25.33%	+1.01%
2006	+19.54%	+13.00%
2005	+13.85%	+1.35%
2004	−0.96%	+7.21%
2003	—	+25.81%
2002	—	−23.40%
2001	—	−13.10%
2000	—	−12.70%
1999	—	+17.24%
1998	—	+26.65%
1997	—	+31.23%
1996	—	+18.57%
1995	—	+34.64%
1994	—	−2.22%
1993	—	+6.28%

---

Drawdowns

Thu 2004-11-18? to Fri 2025-05-16	Current Drawdown	Worst Drawdown
GLD ×	−6.94%	−47.98% 2015-12-17
SPDR Gold Shares Exchange-Traded Fund
SPY ×	−3.52%	−55.97% 2009-03-09
SPDR S&P 500 ETF Trust Exchange-Traded Fund