GLDA.DE vs. GLDI

Last updated Jun 26, 2026

GLDA.DE (Amundi Physical Gold ETC (C)) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both Gold funds - GLDA.DE tracks the Gold while GLDI tracks the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 5 years, GLDA.DE returned 18.68%/yr vs 11.53%/yr for GLDI. A 0.65 correlation means they provide meaningful diversification when combined. GLDA.DE charges 0.12%/yr vs 0.65%/yr for GLDI.

Performance

GLDA.DE vs. GLDI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Physical Gold ETC (C) (GLDA.DE) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GLDA.DE is traded in EUR, while GLDI is traded in USD. To make them comparable, the GLDI values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLDA.DE achieves a -5.73% return, which is significantly lower than GLDI's -3.21% return.

GLDA.DE

• 1D: 0.00%
• 1M: -8.94%
• YTD: -5.73%
• 6M: -6.84%
• 1Y: 23.36%
• 3Y*: 25.84%
• 5Y*: 18.68%
• 10Y*: —

GLDI

• 1D: 0.90%
• 1M: -6.84%
• YTD: -3.21%
• 6M: -3.98%
• 1Y: 13.55%
• 3Y*: 14.98%
• 5Y*: 11.53%
• 10Y*: 7.27%

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

GLDA.DE vs. GLDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GLDA.DE Amundi Physical Gold ETC (C)	-5.73%	48.99%	34.24%	9.40%	7.00%	3.88%	12.92%	6.37%
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033	-3.21%	18.31%	25.54%	5.67%	5.02%	3.80%	13.32%	6.51%

Correlation

The correlation between GLDA.DE and GLDI is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jul 22, 2019	0.65

The correlation between GLDA.DE and GLDI has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

Return for Risk

GLDA.DE vs. GLDI — Risk / Return Rank

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

GLDA.DE

GLDA.DE Risk / Return Rank: 27
GLDA.DE Sharpe Ratio Rank: 29
GLDA.DE Sortino Ratio Rank: 27
GLDA.DE Omega Ratio Rank: 31
GLDA.DE Calmar Ratio Rank: 24
GLDA.DE Martin Ratio Rank: 24

GLDI

GLDI Risk / Return Rank: 20
GLDI Sharpe Ratio Rank: 21
GLDI Sortino Ratio Rank: 18
GLDI Omega Ratio Rank: 22
GLDI Calmar Ratio Rank: 18
GLDI Martin Ratio Rank: 21

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.

GLDA.DE vs. GLDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC (C) (GLDA.DE) 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.

	GLDA.DE	GLDI	Difference
Sharpe ratio: Return per unit of total volatility	0.97	0.88	+0.09
Sortino ratio: Return per unit of downside risk	1.38	1.18	+0.19
Omega ratio: Gain probability vs. loss probability	1.20	1.19	+0.01
Calmar ratio: Return relative to maximum drawdown	1.07	0.99	+0.08
Martin ratio: Return relative to average drawdown	2.95	3.10	-0.15

GLDA.DE vs. GLDI - Sharpe Ratio Comparison

The current GLDA.DE Sharpe Ratio is 0.97, which is comparable to the GLDI Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of GLDA.DE 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.

Drawdowns

GLDA.DE vs. GLDI - Drawdown Comparison

The maximum GLDA.DE drawdown since its inception was -22.00%, smaller than the maximum GLDI drawdown of -27.73%. Use the drawdown chart below to compare losses from any high point for GLDA.DE and GLDI.

Drawdown Indicators

	GLDA.DE	GLDI	Difference
Max Drawdown Largest peak-to-trough decline	-22.00%	-27.73%	+5.73%
Max Drawdown (1Y) Largest decline over 1 year	-22.00%	-13.78%	-8.22%
Max Drawdown (3Y) Largest decline over 3 years	-22.00%	-13.78%	-8.22%
Max Drawdown (5Y) Largest decline over 5 years	-22.00%	-13.78%	-8.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.80%	—
Current Drawdown Current decline from peak	-22.00%	-13.01%	-8.99%
Average Drawdown Average peak-to-trough decline	-5.89%	-8.81%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.94%	4.37%	+3.57%

Volatility

GLDA.DE vs. GLDI - Volatility Comparison

Amundi Physical Gold ETC (C) (GLDA.DE) has a higher volatility of 7.96% compared to UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) at 6.91%. This indicates that GLDA.DE'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.

Volatility by Period

	GLDA.DE	GLDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.96%	6.91%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	21.33%	14.11%	+7.22%
Volatility (1Y) Calculated over the trailing 1-year period	24.15%	15.45%	+8.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	11.36%	+4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	11.34%	+4.74%

GLDA.DE vs. GLDI - Expense Ratio Comparison

GLDA.DE has a 0.12% expense ratio, which is lower than GLDI's 0.65% expense ratio.

Dividends

GLDA.DE vs. GLDI - Dividend Comparison

GLDA.DE has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 27.21%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLDA.DE Amundi Physical Gold ETC (C)	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 UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033	27.21%	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

Can I hold both GLDA.DE and GLDI in my portfolio?

GLDA.DE and GLDI have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLDA.DE or GLDI?

On fees, GLDA.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDA.DE or GLDI?

GLDA.DE is cheaper with a 0.12% expense ratio, compared with 0.65% for GLDI.

What is the main difference between GLDA.DE and GLDI?

GLDA.DE tracks Gold, while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: Amundi and UBS. Their fees differ too: 0.12% for GLDA.DE and 0.65% for GLDI.