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GLDI vs. IAUM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

GLDI vs. IAUM - 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 iShares Gold Trust Micro (IAUM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GLDI achieves a 2.06% return, which is significantly lower than IAUM's 3.00% 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%

IAUM

1D
-0.96%
1M
-1.62%
YTD
3.00%
6M
5.58%
1Y
32.42%
3Y*
31.53%
5Y*
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

GLDI vs. IAUM - Yearly Performance Comparison


2026 (YTD)20252024202320222021
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN
2.06%34.25%17.76%8.93%-1.11%4.10%
IAUM
iShares Gold Trust Micro
3.00%64.27%27.04%13.12%-0.49%3.87%

Correlation

The correlation between GLDI and IAUM is 0.85, 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

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2021

0.86

The correlation between GLDI and IAUM has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

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Return for Risk

GLDI vs. IAUM — Risk / Return Rank

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

GLDI
GLDI Risk / Return Rank: 3838
Overall Rank
GLDI Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
GLDI Sortino Ratio Rank: 3535
Sortino Ratio Rank
GLDI Omega Ratio Rank: 4747
Omega Ratio Rank
GLDI Calmar Ratio Rank: 3131
Calmar Ratio Rank
GLDI Martin Ratio Rank: 3838
Martin Ratio Rank

IAUM
IAUM Risk / Return Rank: 3232
Overall Rank
IAUM Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
IAUM Sortino Ratio Rank: 2929
Sortino Ratio Rank
IAUM Omega Ratio Rank: 3636
Omega Ratio Rank
IAUM Calmar Ratio Rank: 3434
Calmar Ratio Rank
IAUM Martin Ratio Rank: 2929
Martin Ratio Rank
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. IAUM - 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 Gold Trust Micro (IAUM). 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.


GLDIIAUMDifference
Sharpe ratioReturn per unit of total volatility

+0.23

Sortino ratioReturn per unit of downside risk

+0.26

Omega ratioGain probability vs. loss probability

1.30

1.25

+0.05

Calmar ratioReturn relative to maximum drawdown

1.55

1.70

-0.15

Martin ratioReturn relative to average drawdown

6.07

4.22

+1.86

GLDI vs. IAUM - Sharpe Ratio Comparison

The current GLDI Sharpe Ratio is 1.46, which is comparable to the IAUM Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of GLDI and IAUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Sharpe Ratios by Period


GLDIIAUMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

1.24

+0.23

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

1.16

-0.79

Drawdowns

GLDI vs. IAUM - Drawdown Comparison

The maximum GLDI drawdown since its inception was -32.26%, which is greater than IAUM's maximum drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for GLDI and IAUM.


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Drawdown Indicators


GLDIIAUMDifference

Max Drawdown

Largest peak-to-trough decline

-32.26%

-20.87%

-11.39%

Max Drawdown (1Y)

Largest decline over 1 year

-13.73%

-19.15%

+5.42%

Max Drawdown (3Y)

Largest decline over 3 years

-13.73%

-19.15%

+5.42%

Max Drawdown (5Y)

Largest decline over 5 years

-14.07%

Max Drawdown (10Y)

Largest decline over 10 years

-14.94%

Current Drawdown

Current decline from peak

-7.37%

-17.68%

+10.31%

Average Drawdown

Average peak-to-trough decline

-14.00%

-5.30%

-8.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.50%

7.70%

-4.20%

Volatility

GLDI vs. IAUM - Volatility Comparison

The current volatility for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) is 3.88%, while iShares Gold Trust Micro (IAUM) has a volatility of 5.50%. This indicates that GLDI experiences smaller price fluctuations and is considered to be less risky than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


GLDIIAUMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

5.50%

-1.62%

Volatility (6M)

Calculated over the trailing 6-month period

12.87%

22.89%

-10.02%

Volatility (1Y)

Calculated over the trailing 1-year period

14.57%

26.31%

-11.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.31%

17.86%

-6.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.35%

17.86%

-6.51%

GLDI vs. IAUM - Expense Ratio Comparison

GLDI has a 0.65% expense ratio, which is higher than IAUM's 0.09% expense ratio.


Dividends

GLDI vs. IAUM - Dividend Comparison

GLDI's dividend yield for the trailing twelve months is around 22.37%, while IAUM has not paid dividends to shareholders.


PositionTTM20252024202320222021202020192018201720162015
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%
IAUM
iShares Gold Trust Micro
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions


GLDI and IAUM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IAUM has higher volatility (5.50%) compared to GLDI (3.88%). In terms of maximum drawdown, GLDI dropped -32.26% vs IAUM's -20.87%.

On 3-year performance, IAUM leads with 31.53% vs 19.54% for GLDI. On fees, IAUM is cheaper at 0.09% per year. On volatility, GLDI has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IAUM has performed better with a 31.53% return vs 19.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAUM is cheaper with a 0.09% expense ratio, compared with 0.65% for GLDI.

GLDI has the higher dividend yield at 22.37%, compared with 0.00% for IAUM.

GLDI is categorized as Precious Metals, while IAUM is Gold. GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while IAUM tracks LBMA Gold Price PM. They also come from different issuers: Credit Suisse and iShares. Their fees differ too: 0.65% for GLDI and 0.09% for IAUM.

GLDI currently has the higher Sharpe Ratio (1.46 vs 1.24), 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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