BAR vs. GLDI
BAR (GraniteShares Gold Trust) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both Gold funds - BAR tracks the LBMA Gold Price PM ($/ozt) while GLDI tracks the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 5 years, BAR returned 18.08%/yr vs 10.96%/yr for GLDI. Their correlation of 0.82 suggests significant overlap in exposure. BAR charges 0.17%/yr vs 0.65%/yr for GLDI.
Performance
BAR vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, BAR achieves a -4.82% return, which is significantly lower than GLDI's -4.45% return.
BAR
- 1D
- -1.94%
- 1M
- -8.92%
- YTD
- -4.82%
- 6M
- -8.73%
- 1Y
- 21.40%
- 3Y*
- 28.63%
- 5Y*
- 18.08%
- 10Y*
- —
GLDI
- 1D
- -1.62%
- 1M
- -7.19%
- YTD
- -4.45%
- 6M
- -5.42%
- 1Y
- 11.67%
- 3Y*
- 17.47%
- 5Y*
- 10.96%
- 10Y*
- 7.83%
BAR vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | -4.82% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | -1.87% | -0.79% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.45% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | -1.20% |
Correlation
The correlation between BAR and GLDI is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2017 | 0.82 |
The correlation between BAR and GLDI has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
BAR vs. GLDI — Risk / Return Rank
BAR
GLDI
BAR vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). 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.
| BAR | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.83 | +0.05 |
| Martin ratioReturn relative to average drawdown | 2.37 | 2.73 | -0.36 |
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Drawdowns
BAR vs. GLDI - Drawdown Comparison
The maximum BAR drawdown since its inception was -24.38%, smaller than the maximum GLDI drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for BAR and GLDI.
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Drawdown Indicators
| BAR | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.38% | -32.26% | +7.88% |
Max Drawdown (1Y)Largest decline over 1 year | -24.38% | -14.14% | -10.24% |
Max Drawdown (3Y)Largest decline over 3 years | -24.38% | -14.14% | -10.24% |
Max Drawdown (5Y)Largest decline over 5 years | -24.38% | -14.14% | -10.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.94% | — |
Current DrawdownCurrent decline from peak | -23.93% | -13.28% | -10.65% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -13.99% | +7.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.07% | 4.30% | +4.77% |
Volatility
BAR vs. GLDI - Volatility Comparison
GraniteShares Gold Trust (BAR) has a higher volatility of 8.11% compared to UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) at 7.18%. This indicates that BAR's price experiences larger fluctuations and is considered to be riskier than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAR | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.11% | 7.18% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 24.24% | 14.58% | +9.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.39% | 15.99% | +11.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.14% | 11.58% | +6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 11.52% | +5.02% |
BAR vs. GLDI - Expense Ratio Comparison
BAR has a 0.17% expense ratio, which is lower than GLDI's 0.65% expense ratio.
Dividends
BAR vs. GLDI - Dividend Comparison
BAR has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 26.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.67% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
Frequently Asked Questions
BAR and GLDI have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAR has higher volatility (8.11%) compared to GLDI (7.18%). In terms of maximum drawdown, BAR dropped -24.38% vs GLDI's -32.26%.
On 5-year performance, BAR leads with 18.08% vs 10.96% for GLDI. On fees, BAR is cheaper at 0.17% per year. On volatility, GLDI has been the lower-risk option at 7.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BAR has performed better with a 18.08% return vs 10.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 0.65% for GLDI.
GLDI has the higher dividend yield at 26.67%, compared with 0.00% for BAR.
BAR tracks LBMA Gold Price PM ($/ozt), while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: GraniteShares and UBS. Their fees differ too: 0.17% for BAR and 0.65% for GLDI.
BAR currently has the higher Sharpe Ratio (0.78 vs 0.73), 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.
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