EPU vs. GOLY
EPU (iShares MSCI Peru ETF) and GOLY (Strategy Shares Gold-Hedged Bond ETF) are both exchange-traded funds - EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index, while GOLY is a Nontraditional Bonds fund tracking the Solactive Gold-Backed Bond Index. Both are passively managed. Over the past 5 years, EPU returned 30.02%/yr vs 5.95%/yr for GOLY. At a 0.42 correlation, their price movements are largely independent. EPU charges 0.59%/yr vs 0.79%/yr for GOLY.
Performance
EPU vs. GOLY - Performance Comparison
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Returns By Period
In the year-to-date period, EPU achieves a 22.98% return, which is significantly higher than GOLY's -20.76% return.
EPU
- 1D
- 1.62%
- 1M
- 11.20%
- YTD
- 22.98%
- 6M
- 29.01%
- 1Y
- 88.50%
- 3Y*
- 46.17%
- 5Y*
- 30.02%
- 10Y*
- 15.10%
GOLY
- 1D
- 2.90%
- 1M
- -4.38%
- YTD
- -20.76%
- 6M
- -20.23%
- 1Y
- -1.82%
- 3Y*
- 16.55%
- 5Y*
- 5.95%
- 10Y*
- —
EPU vs. GOLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EPU iShares MSCI Peru ETF | 22.98% | 86.87% | 21.73% | 25.34% | 2.05% | -12.84% |
GOLY Strategy Shares Gold-Hedged Bond ETF | -20.76% | 57.98% | 19.82% | 12.74% | -19.96% | -1.40% |
Correlation
The correlation between EPU and GOLY is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 18, 2021 | 0.42 |
Over the past year, EPU and GOLY have become more correlated (0.62) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
EPU vs. GOLY — Risk / Return Rank
EPU
GOLY
EPU vs. GOLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Peru ETF (EPU) 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.
| EPU | GOLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.92 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.02 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | -0.05 | +4.32 |
| Martin ratioReturn relative to average drawdown | 12.29 | -0.13 | +12.42 |
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Drawdowns
EPU vs. GOLY - Drawdown Comparison
The maximum EPU drawdown since its inception was -60.62%, which is greater than GOLY's maximum drawdown of -36.08%. Use the drawdown chart below to compare losses from any high point for EPU and GOLY.
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Drawdown Indicators
| EPU | GOLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.62% | -36.08% | -24.54% |
Max Drawdown (1Y)Largest decline over 1 year | -20.85% | -36.08% | +15.23% |
Max Drawdown (3Y)Largest decline over 3 years | -20.85% | -36.08% | +15.23% |
Max Drawdown (5Y)Largest decline over 5 years | -35.59% | -36.08% | +0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -50.97% | — | — |
Current DrawdownCurrent decline from peak | -5.18% | -31.62% | +26.44% |
Average DrawdownAverage peak-to-trough decline | -18.81% | -11.98% | -6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.22% | 14.24% | -7.02% |
Volatility
EPU vs. GOLY - Volatility Comparison
iShares MSCI Peru ETF (EPU) has a higher volatility of 13.56% compared to Strategy Shares Gold-Hedged Bond ETF (GOLY) at 9.83%. This indicates that EPU's price experiences larger fluctuations and is considered to be riskier than GOLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EPU | GOLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.56% | 9.83% | +3.73% |
Volatility (6M)Calculated over the trailing 6-month period | 26.92% | 30.46% | -3.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.12% | 33.73% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 22.57% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.64% | 22.41% | +1.23% |
EPU vs. GOLY - Expense Ratio Comparison
EPU has a 0.59% expense ratio, which is lower than GOLY's 0.79% expense ratio.
Dividends
EPU vs. GOLY - Dividend Comparison
EPU's dividend yield for the trailing twelve months is around 2.97%, less than GOLY's 9.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPU iShares MSCI Peru ETF | 2.97% | 1.63% | 5.78% | 4.17% | 5.56% | 3.13% | 1.91% | 2.67% | 1.53% | 3.30% | 0.85% | 1.90% |
GOLY Strategy Shares Gold-Hedged Bond ETF | 9.29% | 7.22% | 3.85% | 2.94% | 2.57% | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EPU and GOLY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPU has higher volatility (13.56%) compared to GOLY (9.83%). In terms of maximum drawdown, EPU dropped -60.62% vs GOLY's -36.08%.
On 5-year performance, EPU leads with 30.02% vs 5.95% for GOLY. On fees, EPU is cheaper at 0.59% per year. On volatility, GOLY has been the lower-risk option at 9.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EPU has performed better with a 30.02% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPU is cheaper with a 0.59% expense ratio, compared with 0.79% for GOLY.
GOLY has the higher dividend yield at 9.29%, compared with 2.97% for EPU.
EPU is categorized as Mid Cap Blend Equities, while GOLY is Nontraditional Bonds. EPU tracks MSCI All Peru Capped Index, while GOLY tracks Solactive Gold-Backed Bond Index. They also come from different issuers: iShares and Strategy Shares. Their fees differ too: 0.59% for EPU and 0.79% for GOLY.
EPU currently has the higher Sharpe Ratio (2.87 vs -0.05), 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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