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GLD vs. GLDI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GLD vs. GLDI

Last updated Apr 5, 2026

Compare and contrast key facts about SPDR Gold Shares (GLD) and Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI).

GLD and GLDI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004. GLDI is a passively managed fund by Credit Suisse that tracks the performance of the Credit Suisse NASDAQ Gold FLOWS 103 Index. It was launched on Jan 29, 2013. Both GLD and GLDI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GLD vs. GLDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold Shares (GLD) and Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GLD achieves a 8.35% return, which is significantly higher than GLDI's 1.58% return. Over the past 10 years, GLD has outperformed GLDI with an annualized return of 13.97%, while GLDI has yielded a comparatively lower 9.24% annualized return.

GLD

1D
-1.92%
1M
-7.88%
YTD
8.35%
6M
20.07%
1Y
53.51%
3Y*
32.51%
5Y*
21.53%
10Y*
13.97%

GLDI

1D
-1.83%
1M
-5.34%
YTD
1.58%
6M
9.25%
1Y
27.18%
3Y*
19.12%
5Y*
12.38%
10Y*
9.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GLD vs. GLDI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GLD
SPDR Gold Shares		8.35%63.68%26.66%12.69%-0.77%-4.15%24.81%17.86%-1.94%12.81%
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN		1.58%34.25%17.76%8.93%-1.11%-3.42%23.50%14.40%-0.54%8.94%

Correlation

The correlation between GLD and GLDI is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they'll tend to fall together during downturns. For meaningful risk reduction, look for holdings with correlations below 0.5.

GLD vs. GLDI - Expense Ratio Comparison

GLD has a 0.40% expense ratio, which is lower than GLDI's 0.65% expense ratio.

GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN
GLD
SPDR Gold Shares

Compare stocks, funds, or ETFs

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SPDR Gold Shares

Credit Suisse X-Links Gold Shares Covered Call ETN

Often compared with GLD:
GLD vs. IAUGLD vs. SPYGLD vs. SLVGLD vs. GOLDGLD vs. GLDMGLD vs. GDXGLD vs. SGOL
Often compared with GLDI:
GLDI vs. IGLDGLDI vs. SCHDGLDI vs. GLDYGLDI vs. BGLDGLDI vs. JEPQGLDI vs. GLDW.LGLDI vs. QYLD

Return for Risk

GLD vs. GLDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLD
GLD Risk / Return Rank: 7878
Overall Rank
GLD Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
GLD Sortino Ratio Rank: 8181
Sortino Ratio Rank
GLD Omega Ratio Rank: 8080
Omega Ratio Rank
GLD Calmar Ratio Rank: 7474
Calmar Ratio Rank
GLD Martin Ratio Rank: 7171
Martin Ratio Rank
GLDI
GLDI Risk / Return Rank: 7979
Overall Rank
GLDI Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
GLDI Sortino Ratio Rank: 8585
Sortino Ratio Rank
GLDI Omega Ratio Rank: 8888
Omega Ratio Rank
GLDI Calmar Ratio Rank: 5959
Calmar Ratio Rank
GLDI Martin Ratio Rank: 7979
Martin Ratio Rank
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.

GLD vs. GLDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and Credit Suisse X-Links Gold Shares Covered Call ETN (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.

GLDGLDIDifference

Sharpe ratio

Return per unit of total volatility

1.77

1.84

-0.07

Sortino ratio

Return per unit of downside risk

2.19

2.36

-0.17

Omega ratio

Gain probability vs. loss probability

1.32

1.38

-0.05

Calmar ratio

Return relative to maximum drawdown

2.57

1.89

+0.68

Martin ratio

Return relative to average drawdown

9.28

10.55

-1.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLD vs. GLDI - Sharpe Ratio Comparison

The current GLD Sharpe Ratio is 1.77, which is comparable to the GLDI Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of GLD and GLDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

GLDGLDIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

1.84

-0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.22

1.13

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

0.82

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.37

+0.25

Drawdowns

GLD vs. GLDI - Drawdown Comparison

The maximum GLD drawdown since its inception was -45.56%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for GLD and GLDI.

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Drawdown Indicators

GLDGLDIDifference

Max Drawdown

Largest peak-to-trough decline

-45.56%

-32.26%

-13.30%

Max Drawdown (1Y)

Largest decline over 1 year

-19.21%

-13.73%

-5.48%

Max Drawdown (5Y)

Largest decline over 5 years

-21.03%

-14.07%

-6.96%

Max Drawdown (10Y)

Largest decline over 10 years

-22.00%

-14.94%

-7.06%

Current Drawdown

Current decline from peak

-13.41%

-7.80%

-5.61%

Average Drawdown

Average peak-to-trough decline

-16.17%

-14.10%

-2.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.32%

2.45%

+2.87%

Volatility

GLD vs. GLDI - Volatility Comparison

SPDR Gold Shares (GLD) has a higher volatility of 10.54% compared to Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) at 9.68%. This indicates that GLD'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

GLDGLDIDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.54%

9.68%

+0.86%

Volatility (6M)

Calculated over the trailing 6-month period

24.43%

12.19%

+12.24%

Volatility (1Y)

Calculated over the trailing 1-year period

27.89%

14.10%

+13.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.76%

11.02%

+6.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.89%

11.26%

+4.63%

Dividends

GLD vs. GLDI - Dividend Comparison

GLD has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 20.56%.

TTM20252024202320222021202020192018201720162015
GLD
SPDR Gold Shares		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
Credit Suisse X-Links Gold Shares Covered Call ETN		20.56%16.15%10.45%10.02%13.73%10.65%14.25%7.25%5.33%7.77%17.26%10.07%