GLDI vs. GLDW.L

Last updated Apr 1, 2026

Compare and contrast key facts about Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) and WisdomTree Core Physical Gold (GLDW.L).

GLDI and GLDW.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLDI is a passively managed fund by Credit Suisse that tracks the performance of the Credit Suisse NASDAQ Gold FLOWS 103 Index. It was launched on Jan 29, 2013. GLDW.L is a passively managed fund by WisdomTree that tracks the performance of the Gold. It was launched on Nov 30, 2020. Both GLDI and GLDW.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GLDI vs. GLDW.L - 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 WisdomTree Core Physical Gold (GLDW.L). The values are adjusted to include any dividend payments, if applicable.

GLDI vs. GLDW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN	1.47%	34.25%	17.76%	8.93%	-1.11%	4.45%
GLDW.L WisdomTree Core Physical Gold	7.25%	65.15%	26.05%	12.92%	-0.13%	6.27%

Different Trading Currencies

GLDI is traded in USD, while GLDW.L is traded in GBp. To make them comparable, the GLDW.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLDI achieves a 1.47% return, which is significantly lower than GLDW.L's 7.25% return.

GLDI

• 1D: 3.40%
• 1M: -7.27%
• YTD: 1.47%
• 6M: 9.54%
• 1Y: 25.68%
• 3Y*: 19.06%
• 5Y*: 12.36%
• 10Y*: 9.15%

GLDW.L

• 1D: 1.99%
• 1M: -11.87%
• YTD: 7.25%
• 6M: 20.41%
• 1Y: 47.92%
• 3Y*: 32.67%
• 5Y*: 21.59%
• 10Y*: —

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

GLDI vs. GLDW.L - Expense Ratio Comparison

GLDI has a 0.65% expense ratio, which is higher than GLDW.L's 0.12% expense ratio.

GLDI

Credit Suisse X-Links Gold Shares Covered Call ETN

GLDW.L

WisdomTree Core Physical Gold

Return for Risk

GLDI vs. GLDW.L — Risk / Return Rank

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

GLDI

GLDI Risk / Return Rank: 87
GLDI Sharpe Ratio Rank: 89
GLDI Sortino Ratio Rank: 88
GLDI Omega Ratio Rank: 92
GLDI Calmar Ratio Rank: 75
GLDI Martin Ratio Rank: 89

GLDW.L

GLDW.L Risk / Return Rank: 87
GLDW.L Sharpe Ratio Rank: 89
GLDW.L Sortino Ratio Rank: 87
GLDW.L Omega Ratio Rank: 88
GLDW.L Calmar Ratio Rank: 85
GLDW.L Martin Ratio Rank: 88

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. GLDW.L - 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 WisdomTree Core Physical Gold (GLDW.L). 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	GLDW.L	Difference
Sharpe ratio Return per unit of total volatility	1.86	1.84	+0.02
Sortino ratio Return per unit of downside risk	2.39	2.32	+0.06
Omega ratio Gain probability vs. loss probability	1.39	1.33	+0.06
Calmar ratio Return relative to maximum drawdown	1.87	2.68	-0.80
Martin ratio Return relative to average drawdown	10.83	10.49	+0.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLDI vs. GLDW.L - Sharpe Ratio Comparison

The current GLDI Sharpe Ratio is 1.86, which is comparable to the GLDW.L Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of GLDI and GLDW.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GLDI	GLDW.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.84	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.13	1.26	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.26	-0.89

Correlation

The correlation between GLDI and GLDW.L is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GLDI vs. GLDW.L - Dividend Comparison

GLDI's dividend yield for the trailing twelve months is around 20.58%, while GLDW.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN	20.58%	16.15%	10.45%	10.02%	13.73%	10.65%	14.25%	7.25%	5.33%	7.77%	17.26%	10.07%
GLDW.L WisdomTree Core Physical Gold	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

GLDI vs. GLDW.L - Drawdown Comparison

The maximum GLDI drawdown since its inception was -32.26%, which is greater than GLDW.L's maximum drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for GLDI and GLDW.L.

Drawdown Indicators

	GLDI	GLDW.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.26%	-17.86%	-14.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.73%	-17.86%	+4.13%
Max Drawdown (5Y) Largest decline over 5 years	-14.07%	-17.86%	+3.79%
Max Drawdown (10Y) Largest decline over 10 years	-14.94%	—	—
Current Drawdown Current decline from peak	-7.90%	-11.81%	+3.91%
Average Drawdown Average peak-to-trough decline	-14.11%	-3.26%	-10.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	4.23%	-1.86%

Volatility

GLDI vs. GLDW.L - Volatility Comparison

The current volatility for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) is 9.68%, while WisdomTree Core Physical Gold (GLDW.L) has a volatility of 10.68%. This indicates that GLDI experiences smaller price fluctuations and is considered to be less risky than GLDW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDI	GLDW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.68%	10.68%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	21.45%	-9.56%
Volatility (1Y) Calculated over the trailing 1-year period	13.84%	25.88%	-12.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	17.10%	-6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.23%	17.07%	-5.84%