GLDI vs. MPLX

Last updated Aug 2, 2026

GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) is Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while MPLX (MPLX LP) is a stock. Over the past 10 years, GLDI returned 7.56%/yr vs 16.18%/yr for MPLX. Their 0.06 correlation means their historical movements had little consistent relationship.

Performance

GLDI vs. MPLX - 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 MPLX LP (MPLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLDI achieves a -4.75% return, which is significantly lower than MPLX's 13.84% return. Over the past 10 years, GLDI has underperformed MPLX with an annualized return of 7.56%, while MPLX has yielded a comparatively higher 16.18% annualized return.

GLDI

• 1D: -0.61%
• 1M: -0.08%
• 6M: -7.85%
• YTD: -4.75%
• 1Y: 11.07%
• 3Y*: 16.54%
• 5Y*: 10.37%
• 10Y*: 7.56%
• ALL TIME*: 3.85%

MPLX

• 1D: 1.46%
• 1M: 2.26%
• 6M: 8.69%
• YTD: 13.84%
• 1Y: 21.94%
• 3Y*: 28.15%
• 5Y*: 26.27%
• 10Y*: 16.18%
• ALL TIME*: 14.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033	$9.09M	$8.22M	$7.58M
MPLX MPLX LP	$99.98M	$86.91M	$97.76M

GLDI vs. MPLX - 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	-4.75%	34.25%	17.76%	8.93%	-1.11%	-3.42%	23.50%	14.40%	-0.54%	8.94%
MPLX MPLX LP	13.84%	20.54%	41.72%	22.46%	21.09%	53.92%	-1.79%	-8.25%	-8.43%	9.00%

Correlation

The correlation between GLDI and MPLX is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.03
Correlation (3Y) Balances recent behavior with more history.	0.08
Correlation (5Y) Shows whether the relationship held over a longer period.	0.12
Correlation (10Y) Provides a long-term view across more market conditions.	0.09
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013	0.06

The correlation between GLDI and MPLX shifts across timeframes, from -0.03 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GLDI vs. MPLX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GLDI

GLDI Risk / Return Rank: 29
GLDI Sharpe Ratio Rank: 32
GLDI Sortino Ratio Rank: 28
GLDI Omega Ratio Rank: 34
GLDI Calmar Ratio Rank: 26
GLDI Martin Ratio Rank: 26

MPLX

MPLX Risk / Return Rank: 79
MPLX Sharpe Ratio Rank: 81
MPLX Sortino Ratio Rank: 76
MPLX Omega Ratio Rank: 73
MPLX Calmar Ratio Rank: 84
MPLX Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GLDI vs. MPLX - 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 MPLX LP (MPLX). 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	MPLX	Difference
Sharpe ratio: Return per unit of total volatility	0.76	1.25	-0.48
Sortino ratio: Return per unit of downside risk	1.05	1.77	-0.73
Omega ratio: Gain probability vs. loss probability	1.16	1.22	-0.05
Calmar ratio: Return relative to maximum drawdown	0.81	2.66	-1.85
Martin ratio: Return relative to average drawdown	2.04	6.14	-4.10

GLDI vs. MPLX - Sharpe Ratio Comparison

The current GLDI Sharpe Ratio is 0.76, which is lower than the MPLX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of GLDI and MPLX, 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. MPLX - Drawdown Comparison

The maximum GLDI drawdown since its inception was -32.26%, smaller than the maximum MPLX drawdown of -85.72%. Use the drawdown chart below to compare losses from any high point for GLDI and MPLX.

Drawdown Indicators

	GLDI	MPLX	Difference
Max Drawdown Largest peak-to-trough decline	-32.26%	-85.72%	+53.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.81%	-7.71%	-8.10%
Max Drawdown (3Y) Largest decline over 3 years	-15.81%	-14.58%	-1.23%
Max Drawdown (5Y) Largest decline over 5 years	-15.81%	-18.46%	+2.65%
Max Drawdown (10Y) Largest decline over 10 years	-15.81%	-75.21%	+59.40%
Current Drawdown Current decline from peak	-13.54%	-1.27%	-12.27%
Average Drawdown Average peak-to-trough decline	-13.99%	-29.68%	+15.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.26%	3.33%	+2.93%

Volatility

GLDI vs. MPLX - Volatility Comparison

UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) and MPLX LP (MPLX) have volatilities of 5.26% and 5.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDI	MPLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	5.31%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	15.59%	11.75%	+3.84%
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	16.45%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.85%	18.96%	-7.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.65%	30.42%	-18.77%

Dividends

GLDI vs. MPLX - Dividend Comparison

GLDI's dividend yield for the trailing twelve months is around 26.14%, more than MPLX's 7.16% 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	26.14%	16.15%	10.45%	10.02%	13.73%	10.65%	14.25%	7.25%	5.33%	7.77%	17.26%	10.07%
MPLX MPLX LP	7.16%	7.39%	7.33%	8.65%	8.80%	11.30%	12.70%	10.41%	8.22%	6.23%	5.86%	4.33%

Frequently Asked Questions

Can I hold both GLDI and MPLX in my portfolio?

GLDI and MPLX have a correlation of -0.03, 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 MPLX?

MPLX has higher volatility (5.31%) compared to GLDI (5.26%). In terms of maximum drawdown, GLDI dropped -32.26% vs MPLX's -85.72%.

Which has better risk-adjusted returns?

MPLX currently has the higher Sharpe Ratio (1.25 vs 0.76), 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.