AAPY.L vs. GLDI.L
AAPY.L (IncomeShares Apple (AAPL) Options ETP) and GLDI.L (IncomeShares Gold+ Yield ETP) are both Derivative Income funds from Leverage Shares. Both are actively managed. Over the past year, AAPY.L returned 17.30% vs 27.00% for GLDI.L. At a correlation of -0.01, they often move in opposite directions. AAPY.L charges 0.55%/yr vs 0.35%/yr for GLDI.L.
Performance
AAPY.L vs. GLDI.L - Performance Comparison
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Returns By Period
In the year-to-date period, AAPY.L achieves a 3.14% return, which is significantly higher than GLDI.L's -0.81% return.
AAPY.L
- 1D
- -1.00%
- 1M
- 6.95%
- YTD
- 3.14%
- 6M
- 1.59%
- 1Y
- 17.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDI.L
- 1D
- -0.21%
- 1M
- -3.74%
- YTD
- -0.81%
- 6M
- 1.10%
- 1Y
- 27.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AAPY.L vs. GLDI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AAPY.L IncomeShares Apple (AAPL) Options ETP | 3.14% | -6.59% | 12.62% |
GLDI.L IncomeShares Gold+ Yield ETP | -0.81% | 61.04% | -3.79% |
Correlation
The correlation between AAPY.L and GLDI.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | -0.01 |
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Return for Risk
AAPY.L vs. GLDI.L — Risk / Return Rank
AAPY.L
GLDI.L
AAPY.L vs. GLDI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares Apple (AAPL) Options ETP (AAPY.L) and IncomeShares Gold+ Yield ETP (GLDI.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AAPY.L | GLDI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.24 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.62 | -0.69 |
| Martin ratioReturn relative to average drawdown | 2.36 | 4.13 | -1.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAPY.L | GLDI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 1.23 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 1.74 | -1.54 |
Drawdowns
AAPY.L vs. GLDI.L - Drawdown Comparison
The maximum AAPY.L drawdown since its inception was -30.25%, which is greater than GLDI.L's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for AAPY.L and GLDI.L.
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Drawdown Indicators
| AAPY.L | GLDI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.25% | -16.47% | -13.78% |
Max Drawdown (1Y)Largest decline over 1 year | -18.86% | -16.47% | -2.39% |
Current DrawdownCurrent decline from peak | -4.43% | -15.11% | +10.68% |
Average DrawdownAverage peak-to-trough decline | -10.78% | -3.38% | -7.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.42% | 6.46% | +0.96% |
Volatility
AAPY.L vs. GLDI.L - Volatility Comparison
IncomeShares Apple (AAPL) Options ETP (AAPY.L) and IncomeShares Gold+ Yield ETP (GLDI.L) have volatilities of 4.71% and 4.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPY.L | GLDI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 4.55% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.59% | 18.56% | -3.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.04% | 21.67% | -1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.34% | 18.78% | +5.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.34% | 18.78% | +5.56% |
AAPY.L vs. GLDI.L - Expense Ratio Comparison
AAPY.L has a 0.55% expense ratio, which is higher than GLDI.L's 0.35% expense ratio.
Dividends
AAPY.L vs. GLDI.L - Dividend Comparison
AAPY.L's dividend yield for the trailing twelve months is around 11.15%, less than GLDI.L's 12.75% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AAPY.L IncomeShares Apple (AAPL) Options ETP | 11.15% | 10.77% | 1.08% |
GLDI.L IncomeShares Gold+ Yield ETP | 12.75% | 9.15% | 1.08% |
Frequently Asked Questions
AAPY.L and GLDI.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDI.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDI.L is cheaper with a 0.35% expense ratio, compared with 0.55% for AAPY.L.
Their fees differ too: 0.55% for AAPY.L and 0.35% for GLDI.L.
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