GLDB vs. UCON

Last updated Apr 1, 2026

Compare and contrast key facts about Strategy Shares Gold-Hedged Bond ETF (GLDB) and First Trust TCW Unconstrained Plus Bond ETF (UCON).

GLDB and UCON are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLDB is a passively managed fund by Strategy Shares that tracks the performance of the Solactive Gold Backed Bond Index - Benchmark TR Gross. It was launched on May 17, 2021. UCON is an actively managed fund by First Trust. It was launched on Jun 4, 2018.

Performance

GLDB vs. UCON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategy Shares Gold-Hedged Bond ETF (GLDB) and First Trust TCW Unconstrained Plus Bond ETF (UCON). The values are adjusted to include any dividend payments, if applicable.

GLDB vs. UCON - Yearly Performance Comparison

	2026 (YTD)	2025
GLDB Strategy Shares Gold-Hedged Bond ETF	-2.60%	-3.51%
UCON First Trust TCW Unconstrained Plus Bond ETF	-0.52%	0.36%

Returns By Period

In the year-to-date period, GLDB achieves a -2.60% return, which is significantly lower than UCON's -0.52% return.

GLDB

• 1D: 3.72%
• 1M: -6.76%
• YTD: -2.60%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCON

• 1D: 0.53%
• 1M: -1.66%
• YTD: -0.52%
• 6M: 0.71%
• 1Y: 4.82%
• 3Y*: 5.73%
• 5Y*: 2.65%
• 10Y*: —

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

GLDB vs. UCON - Expense Ratio Comparison

GLDB has a 0.79% expense ratio, which is lower than UCON's 0.86% expense ratio.

UCON

First Trust TCW Unconstrained Plus Bond ETF

GLDB

Strategy Shares Gold-Hedged Bond ETF

Return for Risk

GLDB vs. UCON — Risk / Return Rank

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

UCON

UCON Risk / Return Rank: 82
UCON Sharpe Ratio Rank: 84
UCON Sortino Ratio Rank: 87
UCON Omega Ratio Rank: 81
UCON Calmar Ratio Rank: 75
UCON Martin Ratio Rank: 80

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.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GLDB	UCON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.65	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.31	0.62	-0.92

Correlation

The correlation between GLDB and UCON is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GLDB vs. UCON - Dividend Comparison

GLDB's dividend yield for the trailing twelve months is around 0.20%, less than UCON's 4.66% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GLDB Strategy Shares Gold-Hedged Bond ETF	0.20%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UCON First Trust TCW Unconstrained Plus Bond ETF	4.66%	4.63%	4.95%	4.75%	3.12%	2.20%	3.14%	3.25%	1.76%

Drawdowns

GLDB vs. UCON - Drawdown Comparison

The maximum GLDB drawdown since its inception was -27.36%, 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.

Drawdown Indicators

	GLDB	UCON	Difference
Max Drawdown Largest peak-to-trough decline	-27.36%	-15.31%	-12.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.60%	—
Current Drawdown Current decline from peak	-22.48%	-1.70%	-20.78%
Average Drawdown Average peak-to-trough decline	-10.62%	-1.50%	-9.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.55%	—

Volatility

Volatility by Period

	GLDB	UCON	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.54%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	44.68%	2.92%	+41.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.68%	3.84%	+40.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.68%	5.94%	+38.74%