GDMA vs. GLDI
GDMA (Gadsden Dynamic Multi-Asset ETF) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both exchange-traded funds - GDMA is a Hedge Fund fund actively managed by Gadsden, while GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. GDMA is actively managed, while GLDI is passively managed. Over the past 5 years, GDMA returned 8.19%/yr vs 10.96%/yr for GLDI. At a 0.26 correlation, their price movements are largely independent. GDMA charges 0.77%/yr vs 0.65%/yr for GLDI.
Performance
GDMA vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, GDMA achieves a 10.22% return, which is significantly higher than GLDI's -4.45% return.
GDMA
- 1D
- -3.51%
- 1M
- 2.90%
- YTD
- 10.22%
- 6M
- 9.52%
- 1Y
- 30.24%
- 3Y*
- 16.68%
- 5Y*
- 8.19%
- 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%
GDMA vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GDMA Gadsden Dynamic Multi-Asset ETF | 10.22% | 25.29% | 7.44% | 1.72% | -2.08% | 3.95% | 21.08% | 11.59% | -3.70% |
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% | 5.05% |
Correlation
The correlation between GDMA and GLDI is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018 | 0.26 |
The correlation between GDMA and GLDI shifts across timeframes, from 0.21 (5 years) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GDMA vs. GLDI — Risk / Return Rank
GDMA
GLDI
GDMA vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gadsden Dynamic Multi-Asset ETF (GDMA) 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.
| GDMA | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.16 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | 0.83 | +3.20 |
| Martin ratioReturn relative to average drawdown | 10.70 | 2.73 | +7.97 |
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Drawdowns
GDMA vs. GLDI - Drawdown Comparison
The maximum GDMA drawdown since its inception was -16.66%, smaller than the maximum GLDI drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for GDMA and GLDI.
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Drawdown Indicators
| GDMA | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.66% | -32.26% | +15.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -14.14% | +6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.53% | -14.14% | +6.61% |
Max Drawdown (5Y)Largest decline over 5 years | -12.74% | -14.14% | +1.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.94% | — |
Current DrawdownCurrent decline from peak | -3.51% | -13.28% | +9.77% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -13.99% | +10.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 4.30% | -1.47% |
Volatility
GDMA vs. GLDI - Volatility Comparison
Gadsden Dynamic Multi-Asset ETF (GDMA) has a higher volatility of 8.71% compared to UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) at 7.18%. This indicates that GDMA'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
| GDMA | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.71% | 7.18% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 12.85% | 14.58% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.24% | 15.99% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.21% | 11.58% | -1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.32% | 11.52% | -0.20% |
GDMA vs. GLDI - Expense Ratio Comparison
GDMA has a 0.77% expense ratio, which is higher than GLDI's 0.65% expense ratio.
Dividends
GDMA vs. GLDI - Dividend Comparison
GDMA's dividend yield for the trailing twelve months is around 2.53%, less than GLDI's 26.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDMA Gadsden Dynamic Multi-Asset ETF | 2.53% | 2.79% | 2.32% | 4.14% | 1.18% | 2.10% | 0.62% | 3.17% | 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
GDMA and GLDI have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDMA has higher volatility (8.71%) compared to GLDI (7.18%). In terms of maximum drawdown, GDMA dropped -16.66% vs GLDI's -32.26%.
On 5-year performance, GLDI leads with 10.96% vs 8.19% for GDMA. On fees, GLDI is cheaper at 0.65% 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, GLDI has performed better with a 10.96% return vs 8.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.77% for GDMA.
GLDI has the higher dividend yield at 26.67%, compared with 2.53% for GDMA.
GDMA is categorized as Hedge Fund, while GLDI is Gold. They also come from different issuers: Gadsden and UBS. Their fees differ too: 0.77% for GDMA and 0.65% for GLDI.
GDMA currently has the higher Sharpe Ratio (2.00 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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