FGDL vs. GOLI

Last updated Jul 15, 2026

FGDL (Franklin Responsibly Sourced Gold ETF) and GOLI (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - FGDL is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while GOLI is a Derivative Income fund actively managed by Defiance. FGDL is passively managed, while GOLI is actively managed. Over the past year, FGDL returned 20.86% vs 3.39% for GOLI. Their correlation of 0.85 suggests significant overlap in exposure. FGDL charges 0.15%/yr vs 0.99%/yr for GOLI.

Performance

FGDL vs. GOLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Responsibly Sourced Gold ETF (FGDL) and Defiance Gold Enhanced Options Income ETF (GOLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGDL achieves a -6.39% return, which is significantly higher than GOLI's -9.90% return.

FGDL

• 1D: 1.35%
• 1M: -3.68%
• 6M: -11.71%
• YTD: -6.39%
• 1Y: 20.86%
• 3Y*: 27.30%
• 5Y*: —
• 10Y*: —

GOLI

• 1D: 0.90%
• 1M: -2.54%
• 6M: -13.72%
• YTD: -9.90%
• 1Y: 3.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FGDL vs. GOLI - Yearly Performance Comparison

	2026 (YTD)	2025
FGDL Franklin Responsibly Sourced Gold ETF	-6.39%	38.56%
GOLI Defiance Gold Enhanced Options Income ETF	-9.90%	15.16%

Correlation

The correlation between FGDL and GOLI is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.85

The correlation between FGDL and GOLI has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.

Return for Risk

FGDL vs. GOLI — Risk / Return Rank

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

FGDL

FGDL Risk / Return Rank: 23
FGDL Sharpe Ratio Rank: 25
FGDL Sortino Ratio Rank: 23
FGDL Omega Ratio Rank: 27
FGDL Calmar Ratio Rank: 21
FGDL Martin Ratio Rank: 21

GOLI

GOLI Risk / Return Rank: 12
GOLI Sharpe Ratio Rank: 12
GOLI Sortino Ratio Rank: 11
GOLI Omega Ratio Rank: 12
GOLI Calmar Ratio Rank: 11
GOLI Martin Ratio Rank: 11

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.

FGDL vs. GOLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) and Defiance Gold Enhanced Options Income ETF (GOLI). 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.

	FGDL	GOLI	Difference
Sharpe ratio: Return per unit of total volatility	0.74	0.14	+0.61
Sortino ratio: Return per unit of downside risk	1.09	0.34	+0.75
Omega ratio: Gain probability vs. loss probability	1.16	1.05	+0.10
Calmar ratio: Return relative to maximum drawdown	0.79	0.13	+0.66
Martin ratio: Return relative to average drawdown	1.91	0.41	+1.50

FGDL vs. GOLI - Sharpe Ratio Comparison

The current FGDL Sharpe Ratio is 0.74, which is higher than the GOLI Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of FGDL and GOLI, 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

FGDL vs. GOLI - Drawdown Comparison

The maximum FGDL drawdown since its inception was -26.48%, roughly equal to the maximum GOLI drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for FGDL and GOLI.

Drawdown Indicators

	FGDL	GOLI	Difference
Max Drawdown Largest peak-to-trough decline	-26.48%	-25.88%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-26.48%	-25.88%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-26.48%	—	—
Current Drawdown Current decline from peak	-25.20%	-19.88%	-5.32%
Average Drawdown Average peak-to-trough decline	-4.36%	-5.15%	+0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.94%	8.37%	+2.57%

Volatility

FGDL vs. GOLI - Volatility Comparison

The current volatility for Franklin Responsibly Sourced Gold ETF (FGDL) is 7.17%, while Defiance Gold Enhanced Options Income ETF (GOLI) has a volatility of 12.21%. This indicates that FGDL experiences smaller price fluctuations and is considered to be less risky than GOLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGDL	GOLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.17%	12.21%	-5.04%
Volatility (6M) Calculated over the trailing 6-month period	24.42%	23.39%	+1.03%
Volatility (1Y) Calculated over the trailing 1-year period	28.14%	25.04%	+3.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.40%	23.23%	-3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.40%	23.23%	-3.83%

FGDL vs. GOLI - Expense Ratio Comparison

FGDL has a 0.15% expense ratio, which is lower than GOLI's 0.99% expense ratio.

Dividends

FGDL vs. GOLI - Dividend Comparison

FGDL has not paid dividends to shareholders, while GOLI's dividend yield for the trailing twelve months is around 51.21%.

Position	TTM	2025
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%
GOLI Defiance Gold Enhanced Options Income ETF	51.21%	37.38%

Frequently Asked Questions

Can I hold both FGDL and GOLI in my portfolio?

FGDL and GOLI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGDL or GOLI?

GOLI has higher volatility (12.21%) compared to FGDL (7.17%). In terms of maximum drawdown, FGDL dropped -26.48% vs GOLI's -25.88%.

Which ETF is better, FGDL or GOLI?

On 1-year performance, FGDL leads with 20.86% vs 3.39% for GOLI. On fees, FGDL is cheaper at 0.15% per year. On volatility, FGDL has been the lower-risk option at 7.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FGDL or GOLI?

Over the 1-year period, FGDL has performed better with a 20.86% return vs 3.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FGDL or GOLI?

FGDL is cheaper with a 0.15% expense ratio, compared with 0.99% for GOLI.

Which ETF pays a higher dividend yield, FGDL or GOLI?

GOLI has the higher dividend yield at 51.21%, compared with 0.00% for FGDL.

What is the main difference between FGDL and GOLI?

FGDL is categorized as Gold, while GOLI is Derivative Income. They also come from different issuers: Franklin Templeton and Defiance. Their fees differ too: 0.15% for FGDL and 0.99% for GOLI.

Which has better risk-adjusted returns?

FGDL currently has the higher Sharpe Ratio (0.74 vs 0.14), 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.