GLDI vs. CRF

Last updated Jun 13, 2026

GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) and CRF (Cornerstone Total Return Fund, Inc.) are both funds - GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while CRF is a Large Cap Growth Equities fund managed by Cornerstone. Over the past 10 years, GLDI returned 8.20%/yr vs 11.48%/yr for CRF. At a 0.04 correlation, their price movements are largely independent. GLDI charges 0.65%/yr vs 1.84%/yr for CRF.

Performance

GLDI vs. CRF - Performance Comparison

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

Returns By Period

In the year-to-date period, GLDI achieves a -2.64% return, which is significantly higher than CRF's -3.31% return. Over the past 10 years, GLDI has underperformed CRF with an annualized return of 8.20%, while CRF has yielded a comparatively higher 11.48% annualized return.

GLDI

• 1D: 0.42%
• 1M: -6.93%
• YTD: -2.64%
• 6M: -2.08%
• 1Y: 14.82%
• 3Y*: 17.80%
• 5Y*: 10.20%
• 10Y*: 8.20%

CRF

• 1D: -0.28%
• 1M: -1.82%
• YTD: -3.31%
• 6M: -1.76%
• 1Y: 11.58%
• 3Y*: 15.78%
• 5Y*: 9.57%
• 10Y*: 11.48%

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

GLDI vs. CRF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN	-2.64%	34.25%	17.76%	8.93%	-1.11%	-3.42%	23.50%	14.40%	-0.54%	8.94%
CRF Cornerstone Total Return Fund, Inc.	-3.31%	12.46%	44.39%	19.49%	-36.70%	39.73%	28.13%	21.74%	-11.74%	21.35%

Correlation

The correlation between GLDI and CRF is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013	0.04

The correlation between GLDI and CRF shifts across timeframes, from 0.04 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GLDI vs. CRF — Risk / Return Rank

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

GLDI

GLDI Risk / Return Rank: 29
GLDI Sharpe Ratio Rank: 30
GLDI Sortino Ratio Rank: 25
GLDI Omega Ratio Rank: 33
GLDI Calmar Ratio Rank: 25
GLDI Martin Ratio Rank: 30

CRF

CRF Risk / Return Rank: 13
CRF Sharpe Ratio Rank: 14
CRF Sortino Ratio Rank: 14
CRF Omega Ratio Rank: 15
CRF Calmar Ratio Rank: 12
CRF Martin Ratio Rank: 13

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.

GLDI vs. CRF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) and Cornerstone Total Return Fund, Inc. (CRF). 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.

	GLDI	CRF	Difference
Sharpe ratio: Return per unit of total volatility	0.95	0.75	+0.19
Sortino ratio: Return per unit of downside risk	1.26	1.14	+0.12
Omega ratio: Gain probability vs. loss probability	1.20	1.15	+0.05
Calmar ratio: Return relative to maximum drawdown	1.05	0.78	+0.27
Martin ratio: Return relative to average drawdown	3.77	2.59	+1.18

GLDI vs. CRF - Sharpe Ratio Comparison

The current GLDI Sharpe Ratio is 0.95, which is comparable to the CRF Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of GLDI and CRF, 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

GLDI vs. CRF - Drawdown Comparison

The maximum GLDI drawdown since its inception was -32.26%, smaller than the maximum CRF drawdown of -80.70%. Use the drawdown chart below to compare losses from any high point for GLDI and CRF.

Drawdown Indicators

	GLDI	CRF	Difference
Max Drawdown Largest peak-to-trough decline	-32.26%	-80.70%	+48.44%
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	-14.88%	+0.74%
Max Drawdown (3Y) Largest decline over 3 years	-14.14%	-29.66%	+15.52%
Max Drawdown (5Y) Largest decline over 5 years	-14.14%	-43.12%	+28.98%
Max Drawdown (10Y) Largest decline over 10 years	-14.94%	-45.90%	+30.96%
Current Drawdown Current decline from peak	-11.63%	-5.09%	-6.54%
Average Drawdown Average peak-to-trough decline	-13.99%	-22.31%	+8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	4.48%	-0.54%

Volatility

GLDI vs. CRF - Volatility Comparison

Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a higher volatility of 6.70% compared to Cornerstone Total Return Fund, Inc. (CRF) at 4.16%. This indicates that GLDI's price experiences larger fluctuations and is considered to be riskier than CRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDI	CRF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.70%	4.16%	+2.54%
Volatility (6M) Calculated over the trailing 6-month period	14.24%	13.41%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	15.75%	15.41%	+0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.61%	25.07%	-13.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.50%	25.86%	-14.36%

GLDI vs. CRF - Expense Ratio Comparison

GLDI has a 0.65% expense ratio, which is lower than CRF's 1.84% expense ratio.

Dividends

GLDI vs. CRF - Dividend Comparison

GLDI's dividend yield for the trailing twelve months is around 23.45%, more than CRF's 19.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRF Cornerstone Total Return Fund, Inc.	19.63%	17.38%	14.32%	19.94%	29.31%	13.41%	18.91%	21.67%	24.85%	17.96%	24.08%	23.58%
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN	23.45%	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 GLDI and CRF in my portfolio?

GLDI and CRF have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLDI or CRF?

GLDI has higher volatility (6.70%) compared to CRF (4.16%). In terms of maximum drawdown, GLDI dropped -32.26% vs CRF's -80.70%.

Which has better risk-adjusted returns?

GLDI currently has the higher Sharpe Ratio (0.95 vs 0.75), 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.