GLDI vs. MLPB
GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both exchange-traded funds - GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 10 years, GLDI returned 7.83%/yr vs 8.03%/yr for MLPB. At a 0.09 correlation, their price movements are largely independent. GLDI charges 0.65%/yr vs 0.85%/yr for MLPB.
Performance
GLDI vs. MLPB - Performance Comparison
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Returns By Period
In the year-to-date period, GLDI achieves a -4.45% return, which is significantly lower than MLPB's 17.00% return. Both investments have delivered pretty close results over the past 10 years, with GLDI having a 7.83% annualized return and MLPB not far ahead at 8.03%.
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%
MLPB
- 1D
- 2.04%
- 1M
- -6.13%
- YTD
- 17.00%
- 6M
- 16.53%
- 1Y
- 18.65%
- 3Y*
- 21.94%
- 5Y*
- 18.51%
- 10Y*
- 8.03%
GLDI vs. MLPB - 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 | -4.45% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 17.00% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -30.80% | 5.69% | -8.79% | -9.71% |
Correlation
The correlation between GLDI and MLPB 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 (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015 | 0.09 |
The correlation between GLDI and MLPB shifts across timeframes, from -0.08 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLDI vs. MLPB — Risk / Return Rank
GLDI
MLPB
GLDI vs. MLPB - 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 ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). 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 | MLPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.93 | -1.11 |
| Martin ratioReturn relative to average drawdown | 2.73 | 5.43 | -2.71 |
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Drawdowns
GLDI vs. MLPB - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, smaller than the maximum MLPB drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for GLDI and MLPB.
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Drawdown Indicators
| GLDI | MLPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -71.93% | +39.67% |
Max Drawdown (1Y)Largest decline over 1 year | -14.14% | -9.68% | -4.46% |
Max Drawdown (3Y)Largest decline over 3 years | -14.14% | -16.49% | +2.35% |
Max Drawdown (5Y)Largest decline over 5 years | -14.14% | -20.41% | +6.27% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -71.93% | +56.99% |
Current DrawdownCurrent decline from peak | -13.28% | -6.86% | -6.42% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -14.78% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 3.44% | +0.86% |
Volatility
GLDI vs. MLPB - Volatility Comparison
UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) has a higher volatility of 7.18% compared to ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) at 5.33%. This indicates that GLDI's price experiences larger fluctuations and is considered to be riskier than MLPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDI | MLPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.18% | 5.33% | +1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 14.58% | 10.30% | +4.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 13.70% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.58% | 19.90% | -8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.52% | 27.16% | -15.64% |
GLDI vs. MLPB - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is lower than MLPB's 0.85% expense ratio.
Dividends
GLDI vs. MLPB - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 26.67%, more than MLPB's 5.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.99% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% | 0.00% |
Frequently Asked Questions
GLDI and MLPB 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 (7.18%) compared to MLPB (5.33%). In terms of maximum drawdown, GLDI dropped -32.26% vs MLPB's -71.93%.
On 10-year performance, MLPB leads with 8.03% vs 7.83% for GLDI. On fees, GLDI is cheaper at 0.65% per year. On volatility, MLPB has been the lower-risk option at 5.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MLPB has performed better with a 8.03% return vs 7.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.85% for MLPB.
GLDI has the higher dividend yield at 26.67%, compared with 5.99% for MLPB.
GLDI is categorized as Gold, while MLPB is MLPs. GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while MLPB tracks Alerian MLP Infrastructure Index. Their fees differ too: 0.65% for GLDI and 0.85% for MLPB.
MLPB currently has the higher Sharpe Ratio (1.37 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.
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