GLDI vs. CSHP
GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. GLDI is passively managed, while CSHP is actively managed. Over the past year, GLDI returned 21.23% vs 3.96% for CSHP. At a 0.01 correlation, their price movements are largely independent. GLDI charges 0.65%/yr vs 0.20%/yr for CSHP.
Performance
GLDI vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, GLDI achieves a 2.06% return, which is significantly higher than CSHP's 1.63% return.
GLDI
- 1D
- -0.81%
- 1M
- 0.90%
- YTD
- 2.06%
- 6M
- 4.42%
- 1Y
- 21.23%
- 3Y*
- 19.54%
- 5Y*
- 11.15%
- 10Y*
- 8.99%
CSHP
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.63%
- 6M
- 1.93%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDI vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 2.06% | 34.25% | 7.42% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.63% | 4.10% | 2.24% |
Correlation
The correlation between GLDI and CSHP is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024 | 0.01 |
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Return for Risk
GLDI vs. CSHP — Risk / Return Rank
GLDI
CSHP
GLDI vs. CSHP - 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 iShares Enhanced Short-Term Bond Active ETF (CSHP). 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.
| GLDI | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.44 | ||
| Sortino ratioReturn per unit of downside risk | -29.36 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 7.44 | -6.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 65.71 | -64.15 |
| Martin ratioReturn relative to average drawdown | 6.07 | 432.16 | -426.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GLDI | CSHP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 11.91 | -10.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 10.75 | -10.39 |
Drawdowns
GLDI vs. CSHP - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for GLDI and CSHP.
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Drawdown Indicators
| GLDI | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -0.08% | -32.18% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -0.06% | -13.67% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -7.37% | 0.00% | -7.37% |
Average DrawdownAverage peak-to-trough decline | -14.00% | -0.00% | -14.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 0.01% | +3.49% |
Volatility
GLDI vs. CSHP - Volatility Comparison
Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a higher volatility of 3.88% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that GLDI's price experiences larger fluctuations and is considered to be riskier than CSHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDI | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 0.07% | +3.81% |
Volatility (6M)Calculated over the trailing 6-month period | 12.87% | 0.24% | +12.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 0.33% | +14.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 0.40% | +10.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 0.40% | +10.95% |
GLDI vs. CSHP - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
GLDI vs. CSHP - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 22.37%, more than CSHP's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.92% | 5.39% | 1.96% | 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 | 22.37% | 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
GLDI and CSHP have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDI has higher volatility (3.88%) compared to CSHP (0.07%). In terms of maximum drawdown, GLDI dropped -32.26% vs CSHP's -0.08%.
On 1-year performance, GLDI leads with 21.23% vs 3.96% for CSHP. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GLDI has performed better with a 21.23% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CSHP is cheaper with a 0.20% expense ratio, compared with 0.65% for GLDI.
GLDI has the higher dividend yield at 22.37%, compared with 3.92% for CSHP.
GLDI is categorized as Precious Metals, while CSHP is Ultrashort Bond. They also come from different issuers: Credit Suisse and iShares. Their fees differ too: 0.65% for GLDI and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.91 vs 1.46), 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.
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