GLDI vs. TSPY
GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) and TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) are both exchange-traded funds - GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while TSPY is a Derivative Income fund actively managed by TappAlpha. GLDI is passively managed, while TSPY is actively managed. Over the past year, GLDI returned 14.82% vs 23.35% for TSPY. At a 0.13 correlation, their price movements are largely independent. GLDI charges 0.65%/yr vs 0.68%/yr for TSPY.
Performance
GLDI vs. TSPY - Performance Comparison
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Returns By Period
In the year-to-date period, GLDI achieves a -2.64% return, which is significantly lower than TSPY's 6.81% return.
GLDI
- 1D
- 0.42%
- 1M
- -6.93%
- YTD
- -2.64%
- 6M
- -2.08%
- 1Y
- 14.82%
- 3Y*
- 17.80%
- 5Y*
- 10.20%
- 10Y*
- 8.20%
TSPY
- 1D
- 0.91%
- 1M
- -0.08%
- YTD
- 6.81%
- 6M
- 6.94%
- 1Y
- 23.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDI vs. TSPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | -2.64% | 34.25% | 6.31% |
TSPY TappAlpha S&P 500 Growth & Daily Income ETF | 6.81% | 17.29% | 6.59% |
Correlation
The correlation between GLDI and TSPY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024 | 0.13 |
The correlation between GLDI and TSPY shifts across timeframes, from 0.13 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDI vs. TSPY — Risk / Return Rank
GLDI
TSPY
GLDI vs. TSPY - 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 TappAlpha S&P 500 Growth & Daily Income ETF (TSPY). 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 | TSPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.36 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 2.44 | -1.38 |
| Martin ratioReturn relative to average drawdown | 3.77 | 10.57 | -6.80 |
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Drawdowns
GLDI vs. TSPY - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, which is greater than TSPY's maximum drawdown of -18.02%. Use the drawdown chart below to compare losses from any high point for GLDI and TSPY.
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Drawdown Indicators
| GLDI | TSPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -18.02% | -14.24% |
Max Drawdown (1Y)Largest decline over 1 year | -14.14% | -9.63% | -4.51% |
Max Drawdown (3Y)Largest decline over 3 years | -14.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -11.63% | -2.32% | -9.31% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -2.52% | -11.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 2.21% | +1.73% |
Volatility
GLDI vs. TSPY - Volatility Comparison
Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a higher volatility of 6.70% compared to TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) at 4.11%. This indicates that GLDI's price experiences larger fluctuations and is considered to be riskier than TSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDI | TSPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.70% | 4.11% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 14.24% | 9.40% | +4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.75% | 12.11% | +3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.61% | 16.13% | -4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 16.13% | -4.63% |
GLDI vs. TSPY - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is lower than TSPY's 0.68% expense ratio.
Dividends
GLDI vs. TSPY - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 23.45%, more than TSPY's 13.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 23.45% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
TSPY TappAlpha S&P 500 Growth & Daily Income ETF | 13.98% | 13.69% | 3.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLDI and TSPY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDI has higher volatility (6.70%) compared to TSPY (4.11%). In terms of maximum drawdown, GLDI dropped -32.26% vs TSPY's -18.02%.
On 1-year performance, TSPY leads with 23.35% vs 14.82% for GLDI. On fees, GLDI is cheaper at 0.65% per year. On volatility, TSPY has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSPY has performed better with a 23.35% return vs 14.82%. 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 0.68% for TSPY.
GLDI has the higher dividend yield at 23.45%, compared with 13.98% for TSPY.
GLDI is categorized as Precious Metals, while TSPY is Derivative Income. They also come from different issuers: Credit Suisse and TappAlpha. Their fees differ too: 0.65% for GLDI and 0.68% for TSPY.
TSPY currently has the higher Sharpe Ratio (1.94 vs 0.95), 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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