GLDB vs. UCON
GLDB (Strategy Shares Gold-Hedged Bond ETF) and UCON (First Trust TCW Unconstrained Plus Bond ETF) are both Nontraditional Bonds funds. GLDB is passively managed, while UCON is actively managed. At a 0.26 correlation, their price movements are largely independent. GLDB charges 0.79%/yr vs 0.86%/yr for UCON.
Performance
GLDB vs. UCON - Performance Comparison
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Returns By Period
In the year-to-date period, GLDB achieves a -18.19% return, which is significantly lower than UCON's 0.72% return.
GLDB
- 1D
- 0.25%
- 1M
- -5.20%
- 6M
- -22.97%
- YTD
- -18.19%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UCON
- 1D
- -0.10%
- 1M
- -0.02%
- 6M
- 0.62%
- YTD
- 0.72%
- 1Y
- 4.85%
- 3Y*
- 5.93%
- 5Y*
- 2.75%
- 10Y*
- —
GLDB vs. UCON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDB Strategy Shares Gold-Hedged Bond ETF | -18.19% | -3.56% |
UCON First Trust TCW Unconstrained Plus Bond ETF | 0.72% | 0.44% |
Correlation
The correlation between GLDB and UCON is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025 | 0.26 |
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Return for Risk
GLDB vs. UCON — Risk / Return Rank
GLDB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UCON
GLDB vs. UCON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GLDB) and First Trust TCW Unconstrained Plus Bond ETF (UCON). 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.
| GLDB | UCON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.88 | — |
| Martin ratioReturn relative to average drawdown | — | 7.20 | — |
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Drawdowns
GLDB vs. UCON - Drawdown Comparison
The maximum GLDB drawdown since its inception was -38.30%, which is greater than UCON's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for GLDB and UCON.
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Drawdown Indicators
| GLDB | UCON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.30% | -15.31% | -22.99% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.45% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.60% | — |
Current DrawdownCurrent decline from peak | -34.89% | -0.52% | -34.37% |
Average DrawdownAverage peak-to-trough decline | -16.22% | -1.47% | -14.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.64% | — |
Volatility
GLDB vs. UCON - Volatility Comparison
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Volatility by Period
| GLDB | UCON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.82% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.41% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 39.71% | 2.98% | +36.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.71% | 3.90% | +35.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.71% | 5.86% | +33.85% |
GLDB vs. UCON - Expense Ratio Comparison
GLDB has a 0.79% expense ratio, which is lower than UCON's 0.86% expense ratio.
Dividends
GLDB vs. UCON - Dividend Comparison
GLDB's dividend yield for the trailing twelve months is around 0.23%, less than UCON's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLDB Strategy Shares Gold-Hedged Bond ETF | 0.23% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UCON First Trust TCW Unconstrained Plus Bond ETF | 4.70% | 4.63% | 4.95% | 4.75% | 3.12% | 2.20% | 3.14% | 3.25% | 1.76% |
Frequently Asked Questions
GLDB and UCON have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDB is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDB is cheaper with a 0.79% expense ratio, compared with 0.86% for UCON.
UCON has the higher dividend yield at 4.70%, compared with 0.23% for GLDB.
They also come from different issuers: Strategy Shares and First Trust. Their fees differ too: 0.79% for GLDB and 0.86% for UCON.
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