CBYYX vs. GOLY
CBYYX (Victory Pioneer Cat Bond Fund Class Y) and GOLY (Strategy Shares Gold-Hedged Bond ETF) are both Nontraditional Bonds funds. CBYYX is actively managed, while GOLY is passively managed. Over the past year, CBYYX returned 11.04% vs -6.67% for GOLY. At a correlation of -0.02, they often move in opposite directions. CBYYX charges 1.46%/yr vs 0.79%/yr for GOLY.
Performance
CBYYX vs. GOLY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CBYYX achieves a 2.73% return, which is significantly higher than GOLY's -23.60% return.
CBYYX
- 1D
- 0.00%
- 1M
- 0.71%
- YTD
- 2.73%
- 6M
- 2.92%
- 1Y
- 11.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOLY
- 1D
- -1.22%
- 1M
- -6.92%
- YTD
- -23.60%
- 6M
- -25.65%
- 1Y
- -6.67%
- 3Y*
- 15.85%
- 5Y*
- 5.95%
- 10Y*
- —
CBYYX vs. GOLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CBYYX Victory Pioneer Cat Bond Fund Class Y | 2.73% | 11.09% | 15.69% | 3.43% |
GOLY Strategy Shares Gold-Hedged Bond ETF | -23.60% | 57.98% | 19.82% | 11.79% |
Correlation
The correlation between CBYYX and GOLY is -0.06, 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 | -0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023 | -0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CBYYX vs. GOLY — Risk / Return Rank
CBYYX
GOLY
CBYYX vs. GOLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Victory Pioneer Cat Bond Fund Class Y (CBYYX) and Strategy Shares Gold-Hedged Bond ETF (GOLY). 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.
| CBYYX | GOLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.30 | ||
| Sortino ratioReturn per unit of downside risk | +31.37 | ||
| Omega ratioGain probability vs. loss probability | 9.36 | 0.99 | +8.36 |
| Calmar ratioReturn relative to maximum drawdown | 122.09 | -0.19 | +122.28 |
| Martin ratioReturn relative to average drawdown | 440.62 | -0.45 | +441.07 |
Loading charts...
Drawdowns
CBYYX vs. GOLY - Drawdown Comparison
The maximum CBYYX drawdown since its inception was -8.72%, smaller than the maximum GOLY drawdown of -36.08%. Use the drawdown chart below to compare losses from any high point for CBYYX and GOLY.
Loading charts...
Drawdown Indicators
| CBYYX | GOLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.72% | -36.08% | +27.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -36.08% | +35.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.08% | — |
Current DrawdownCurrent decline from peak | 0.00% | -34.08% | +34.08% |
Average DrawdownAverage peak-to-trough decline | -1.29% | -12.04% | +10.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 14.83% | -14.80% |
Volatility
CBYYX vs. GOLY - Volatility Comparison
The current volatility for Victory Pioneer Cat Bond Fund Class Y (CBYYX) is 0.20%, while Strategy Shares Gold-Hedged Bond ETF (GOLY) has a volatility of 9.29%. This indicates that CBYYX experiences smaller price fluctuations and is considered to be less risky than GOLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CBYYX | GOLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 9.29% | -9.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.61% | 30.54% | -29.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.22% | 33.81% | -32.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.14% | 22.56% | -14.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.14% | 22.41% | -14.27% |
CBYYX vs. GOLY - Expense Ratio Comparison
CBYYX has a 1.46% expense ratio, which is higher than GOLY's 0.79% expense ratio.
Dividends
CBYYX vs. GOLY - Dividend Comparison
CBYYX's dividend yield for the trailing twelve months is around 8.89%, less than GOLY's 9.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CBYYX Victory Pioneer Cat Bond Fund Class Y | 8.89% | 9.14% | 10.33% | 9.41% | 0.00% | 0.00% |
GOLY Strategy Shares Gold-Hedged Bond ETF | 9.64% | 7.22% | 3.85% | 2.94% | 2.57% | 1.11% |
Frequently Asked Questions
CBYYX and GOLY have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOLY has higher volatility (9.29%) compared to CBYYX (0.20%). In terms of maximum drawdown, CBYYX dropped -8.72% vs GOLY's -36.08%.
CBYYX currently has the higher Sharpe Ratio (9.10 vs -0.20), 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.
Find the right allocation for CBYYX and GOLY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer