GLDI vs. GBUG

Last updated Jun 24, 2026

GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) and GBUG (Sprott Active Gold & Silver Miners ETF) are both Gold funds. GLDI is passively managed, while GBUG is actively managed. Over the past year, GLDI returned 11.67% vs 54.84% for GBUG. A 0.73 correlation means they provide meaningful diversification when combined. GLDI charges 0.65%/yr vs 0.89%/yr for GBUG.

Performance

GLDI vs. GBUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) and Sprott Active Gold & Silver Miners ETF (GBUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLDI achieves a -4.45% return, which is significantly higher than GBUG's -9.70% return.

GLDI

• 1D: -1.62%
• 1M: -7.19%
• YTD: -4.45%
• 6M: -5.42%
• 1Y: 11.67%
• 3Y*: 17.47%
• 5Y*: 10.96%
• 10Y*: 7.83%

GBUG

• 1D: -4.85%
• 1M: -7.18%
• YTD: -9.70%
• 6M: -13.65%
• 1Y: 54.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLDI vs. GBUG - Yearly Performance Comparison

	2026 (YTD)	2025
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033	-4.45%	28.08%
GBUG Sprott Active Gold & Silver Miners ETF	-9.70%	122.37%

Correlation

The correlation between GLDI and GBUG is 0.74, 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	0.74
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.73

The correlation between GLDI and GBUG has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.

Return for Risk

GLDI vs. GBUG — Risk / Return Rank

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

GLDI

GLDI Risk / Return Rank: 21
GLDI Sharpe Ratio Rank: 22
GLDI Sortino Ratio Rank: 19
GLDI Omega Ratio Rank: 23
GLDI Calmar Ratio Rank: 19
GLDI Martin Ratio Rank: 23

GBUG

GBUG Risk / Return Rank: 31
GBUG Sharpe Ratio Rank: 32
GBUG Sortino Ratio Rank: 30
GBUG Omega Ratio Rank: 33
GBUG Calmar Ratio Rank: 31
GBUG Martin Ratio Rank: 29

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. GBUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) and Sprott Active Gold & Silver Miners ETF (GBUG). 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	GBUG	Difference
Sharpe ratio: Return per unit of total volatility	0.73	1.10	-0.36
Sortino ratio: Return per unit of downside risk	1.01	1.54	-0.53
Omega ratio: Gain probability vs. loss probability	1.16	1.21	-0.05
Calmar ratio: Return relative to maximum drawdown	0.83	1.49	-0.67
Martin ratio: Return relative to average drawdown	2.73	3.92	-1.19

GLDI vs. GBUG - Sharpe Ratio Comparison

The current GLDI Sharpe Ratio is 0.73, which is lower than the GBUG Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of GLDI and GBUG, 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. GBUG - Drawdown Comparison

The maximum GLDI drawdown since its inception was -32.26%, smaller than the maximum GBUG drawdown of -36.90%. Use the drawdown chart below to compare losses from any high point for GLDI and GBUG.

Drawdown Indicators

	GLDI	GBUG	Difference
Max Drawdown Largest peak-to-trough decline	-32.26%	-36.90%	+4.64%
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	-36.90%	+22.76%
Max Drawdown (3Y) Largest decline over 3 years	-14.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-14.94%	—	—
Current Drawdown Current decline from peak	-13.28%	-32.19%	+18.91%
Average Drawdown Average peak-to-trough decline	-13.99%	-8.47%	-5.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	14.05%	-9.75%

Volatility

GLDI vs. GBUG - Volatility Comparison

The current volatility for UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) is 7.18%, while Sprott Active Gold & Silver Miners ETF (GBUG) has a volatility of 19.27%. This indicates that GLDI experiences smaller price fluctuations and is considered to be less risky than GBUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDI	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.18%	19.27%	-12.09%
Volatility (6M) Calculated over the trailing 6-month period	14.58%	42.41%	-27.83%
Volatility (1Y) Calculated over the trailing 1-year period	15.99%	50.26%	-34.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.58%	48.59%	-37.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.52%	48.59%	-37.07%

GLDI vs. GBUG - Expense Ratio Comparison

GLDI has a 0.65% expense ratio, which is lower than GBUG's 0.89% expense ratio.

Dividends

GLDI vs. GBUG - Dividend Comparison

GLDI's dividend yield for the trailing twelve months is around 26.67%, more than GBUG's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBUG Sprott Active Gold & Silver Miners ETF	1.72%	1.56%	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	26.67%	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 GBUG in my portfolio?

GLDI and GBUG have a correlation of 0.74, 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 GBUG?

GBUG has higher volatility (19.27%) compared to GLDI (7.18%). In terms of maximum drawdown, GLDI dropped -32.26% vs GBUG's -36.90%.

Which ETF is better, GLDI or GBUG?

On 1-year performance, GBUG leads with 54.84% vs 11.67% for GLDI. On fees, GLDI is cheaper at 0.65% per year. On volatility, GLDI has been the lower-risk option at 7.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLDI or GBUG?

Over the 1-year period, GBUG has performed better with a 54.84% return vs 11.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLDI or GBUG?

GLDI is cheaper with a 0.65% expense ratio, compared with 0.89% for GBUG.

Which ETF pays a higher dividend yield, GLDI or GBUG?

GLDI has the higher dividend yield at 26.67%, compared with 1.72% for GBUG.

What is the main difference between GLDI and GBUG?

They also come from different issuers: UBS and Sprott. Their fees differ too: 0.65% for GLDI and 0.89% for GBUG.

Which has better risk-adjusted returns?

GBUG currently has the higher Sharpe Ratio (1.10 vs 0.73), 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.