AGD vs. GIAX

Last updated Jul 14, 2026

AGD (abrdn Global Dynamic Dividend Fund) and GIAX (Nicholas Global Equity and Income ETF) are both funds - AGD is a Global Equity Income fund actively managed by abrdn, while GIAX is a Derivative Income fund actively managed by Nicholas. Both are actively managed. Over the past year, AGD returned 21.35% vs 16.87% for GIAX. A 0.53 correlation means they provide meaningful diversification when combined. AGD charges 1.14%/yr vs 0.97%/yr for GIAX.

Performance

AGD vs. GIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Global Dynamic Dividend Fund (AGD) and Nicholas Global Equity and Income ETF (GIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGD achieves a 9.87% return, which is significantly lower than GIAX's 11.86% return.

AGD

• 1D: -0.74%
• 1M: 0.23%
• 6M: 5.35%
• YTD: 9.87%
• 1Y: 21.35%
• 3Y*: 20.20%
• 5Y*: 10.01%
• 10Y*: 12.86%

GIAX

• 1D: -2.03%
• 1M: -4.40%
• 6M: 6.86%
• YTD: 11.86%
• 1Y: 16.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGD vs. GIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGD abrdn Global Dynamic Dividend Fund	9.87%	34.31%	5.01%
GIAX Nicholas Global Equity and Income ETF	11.86%	11.73%	2.94%

Correlation

The correlation between AGD and GIAX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jul 30, 2024	0.53

The correlation between AGD and GIAX has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.

Return for Risk

AGD vs. GIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGD

AGD Risk / Return Rank: 17
AGD Sharpe Ratio Rank: 18
AGD Sortino Ratio Rank: 15
AGD Omega Ratio Rank: 23
AGD Calmar Ratio Rank: 17
AGD Martin Ratio Rank: 11

GIAX

GIAX Risk / Return Rank: 26
GIAX Sharpe Ratio Rank: 25
GIAX Sortino Ratio Rank: 24
GIAX Omega Ratio Rank: 24
GIAX Calmar Ratio Rank: 25
GIAX Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGD vs. GIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Global Dynamic Dividend Fund (AGD) and Nicholas Global Equity and Income ETF (GIAX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AGD	GIAX	Difference
Sharpe ratio: Return per unit of total volatility	0.88	0.71	+0.17
Sortino ratio: Return per unit of downside risk	1.17	1.10	+0.07
Omega ratio: Gain probability vs. loss probability	1.18	1.14	+0.04
Calmar ratio: Return relative to maximum drawdown	1.06	0.96	+0.10
Martin ratio: Return relative to average drawdown	2.24	3.56	-1.32

AGD vs. GIAX - Sharpe Ratio Comparison

The current AGD Sharpe Ratio is 0.88, which is comparable to the GIAX Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of AGD and GIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGD vs. GIAX - Drawdown Comparison

The maximum AGD drawdown since its inception was -76.36%, which is greater than GIAX's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for AGD and GIAX.

Drawdown Indicators

	AGD	GIAX	Difference
Max Drawdown Largest peak-to-trough decline	-76.36%	-20.38%	-55.98%
Max Drawdown (1Y) Largest decline over 1 year	-20.25%	-17.62%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	-20.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.12%	—	—
Current Drawdown Current decline from peak	-4.98%	-11.04%	+6.06%
Average Drawdown Average peak-to-trough decline	-29.76%	-3.21%	-26.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.54%	4.74%	+4.80%

Volatility

AGD vs. GIAX - Volatility Comparison

The current volatility for abrdn Global Dynamic Dividend Fund (AGD) is 6.06%, while Nicholas Global Equity and Income ETF (GIAX) has a volatility of 8.37%. This indicates that AGD experiences smaller price fluctuations and is considered to be less risky than GIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGD	GIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	8.37%	-2.31%
Volatility (6M) Calculated over the trailing 6-month period	15.93%	21.56%	-5.63%
Volatility (1Y) Calculated over the trailing 1-year period	24.49%	23.98%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	22.16%	-3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	22.16%	-2.57%

AGD vs. GIAX - Expense Ratio Comparison

AGD has a 1.14% expense ratio, which is higher than GIAX's 0.97% expense ratio.

Dividends

AGD vs. GIAX - Dividend Comparison

AGD's dividend yield for the trailing twelve months is around 11.59%, less than GIAX's 25.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGD abrdn Global Dynamic Dividend Fund	11.59%	11.41%	10.46%	8.35%	8.25%	6.45%	7.47%	7.50%	9.17%	7.22%	8.89%	8.77%
GIAX Nicholas Global Equity and Income ETF	25.81%	25.62%	10.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGD and GIAX in my portfolio?

AGD and GIAX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGD or GIAX?

GIAX has higher volatility (8.37%) compared to AGD (6.06%). In terms of maximum drawdown, AGD dropped -76.36% vs GIAX's -20.38%.

Which has better risk-adjusted returns?

AGD currently has the higher Sharpe Ratio (0.88 vs 0.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.