GLDI vs. GLD
GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) and GLD (SPDR Gold Shares) are both Gold funds - GLDI tracks the Credit Suisse NASDAQ Gold FLOWS 103 Index while GLD tracks the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, GLDI returned 8.00%/yr vs 11.80%/yr for GLD. Their correlation of 0.85 suggests significant overlap in exposure. GLDI charges 0.65%/yr vs 0.40%/yr for GLD.
Performance
GLDI vs. GLD - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with GLDI having a -2.88% return and GLD slightly lower at -2.96%. Over the past 10 years, GLDI has underperformed GLD with an annualized return of 8.00%, while GLD has yielded a comparatively higher 11.80% annualized return.
GLDI
- 1D
- -0.50%
- 1M
- -5.67%
- YTD
- -2.88%
- 6M
- -3.64%
- 1Y
- 14.20%
- 3Y*
- 18.11%
- 5Y*
- 11.32%
- 10Y*
- 8.00%
GLD
- 1D
- -0.65%
- 1M
- -7.06%
- YTD
- -2.96%
- 6M
- -5.79%
- 1Y
- 24.01%
- 3Y*
- 29.23%
- 5Y*
- 18.28%
- 10Y*
- 11.80%
GLDI vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -2.88% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
GLD SPDR Gold Shares | -2.96% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between GLDI and GLD is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013 | 0.85 |
The correlation between GLDI and GLD has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLDI vs. GLD — Risk / Return Rank
GLDI
GLD
GLDI vs. GLD - 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 SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 0.99 | +0.02 |
| Martin ratioReturn relative to average drawdown | 3.38 | 2.68 | +0.69 |
Loading charts...
Drawdowns
GLDI vs. GLD - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for GLDI and GLD.
Loading charts...
Drawdown Indicators
| GLDI | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -45.56% | +13.30% |
Max Drawdown (1Y)Largest decline over 1 year | -14.14% | -24.46% | +10.32% |
Max Drawdown (3Y)Largest decline over 3 years | -14.14% | -24.46% | +10.32% |
Max Drawdown (5Y)Largest decline over 5 years | -14.14% | -24.46% | +10.32% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -24.46% | +9.52% |
Current DrawdownCurrent decline from peak | -11.85% | -22.45% | +10.60% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -16.16% | +2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.21% | 8.97% | -4.76% |
Volatility
GLDI vs. GLD - Volatility Comparison
The current volatility for UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) is 7.07%, while SPDR Gold Shares (GLD) has a volatility of 8.05%. This indicates that GLDI experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLDI | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 8.05% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 24.31% | -9.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.94% | 27.56% | -11.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.55% | 18.22% | -6.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.53% | 16.10% | -4.57% |
GLDI vs. GLD - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
GLDI vs. GLD - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 26.24%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 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 | 26.24% | 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 GLD have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.05%) compared to GLDI (7.07%). In terms of maximum drawdown, GLDI dropped -32.26% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.80% vs 8.00% for GLDI. On fees, GLD is cheaper at 0.40% per year. On volatility, GLDI has been the lower-risk option at 7.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.80% return vs 8.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.65% for GLDI.
GLDI has the higher dividend yield at 26.24%, compared with 0.00% for GLD.
GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: UBS and State Street. Their fees differ too: 0.65% for GLDI and 0.40% for GLD.
GLDI currently has the higher Sharpe Ratio (0.90 vs 0.88), 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.
Find the right allocation for GLDI and GLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer