GLDM vs. GOLI
GLDM (SPDR Gold MiniShares Trust) and GOLI (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while GOLI is a Derivative Income fund actively managed by Defiance. GLDM is passively managed, while GOLI is actively managed. Over the past year, GLDM returned 20.58% vs 4.70% for GOLI. Their correlation of 0.88 means they have usually moved in the same direction. GLDM charges 0.10%/yr vs 0.99%/yr for GOLI.
Performance
GLDM vs. GOLI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GLDM achieves a -6.13% return, which is significantly higher than GOLI's -9.80% return.
GLDM
- 1D
- 0.00%
- 1M
- -1.72%
- 6M
- -12.88%
- YTD
- -6.13%
- 1Y
- 20.58%
- 3Y*
- 27.67%
- 5Y*
- 17.32%
- 10Y*
- —
- ALL TIME*
- 15.35%
GOLI
- 1D
- 0.00%
- 1M
- -0.36%
- 6M
- -9.71%
- YTD
- -9.80%
- 1Y
- 4.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $270.09M | $250.20M | $318.17M | |
| $218.07K | $245.45K | $411.06K |
GLDM vs. GOLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDM SPDR Gold MiniShares Trust | -6.13% | 38.16% |
GOLI Defiance Gold Enhanced Options Income ETF | -9.80% | 15.16% |
Correlation
The correlation between GLDM and GOLI is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | 0.88 |
The correlation between GLDM and GOLI has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLDM vs. GOLI — Risk / Return Rank
GLDM
GOLI
GLDM vs. GOLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Defiance Gold Enhanced Options Income ETF (GOLI). 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.
| GLDM | GOLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.06 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 0.18 | +0.60 |
| Martin ratioReturn relative to average drawdown | 1.69 | 0.49 | +1.20 |
Loading charts...
Drawdowns
GLDM vs. GOLI - Drawdown Comparison
The maximum GLDM drawdown since its inception was -26.27%, roughly equal to the maximum GOLI drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for GLDM and GOLI.
Loading charts...
Drawdown Indicators
| GLDM | GOLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.27% | -25.88% | -0.39% |
Max Drawdown (1Y)Largest decline over 1 year | -26.27% | -25.88% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | — | — |
Current DrawdownCurrent decline from peak | -24.94% | -19.79% | -5.15% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -5.77% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.22% | 9.59% | +2.63% |
Volatility
GLDM vs. GOLI - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 6.00% compared to Defiance Gold Enhanced Options Income ETF (GOLI) at 4.55%. This indicates that GLDM's price experiences larger fluctuations and is considered to be riskier than GOLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLDM | GOLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 4.55% | +1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 20.89% | 21.57% | -0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.91% | 25.26% | +2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.40% | 22.95% | -4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 22.95% | -5.86% |
GLDM vs. GOLI - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than GOLI's 0.99% expense ratio.
Dividends
GLDM vs. GOLI - Dividend Comparison
GLDM has not paid dividends to shareholders, while GOLI's dividend yield for the trailing twelve months is around 49.92%.
| Position | TTM | 2025 |
|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% |
GOLI Defiance Gold Enhanced Options Income ETF | 49.92% | 37.38% |
Frequently Asked Questions
GLDM and GOLI have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (6.00%) compared to GOLI (4.55%). In terms of maximum drawdown, GLDM dropped -26.27% vs GOLI's -25.88%.
On 1-year performance, GLDM leads with 20.58% vs 4.70% for GOLI. On fees, GLDM is cheaper at 0.10% per year. On volatility, GOLI has been the lower-risk option at 4.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GLDM has performed better with a 20.58% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.99% for GOLI.
GOLI has the higher dividend yield at 49.92%, compared with 0.00% for GLDM.
GLDM is categorized as Gold, while GOLI is Derivative Income. They also come from different issuers: State Street and Defiance. Their fees differ too: 0.10% for GLDM and 0.99% for GOLI.
GLDM currently has the higher Sharpe Ratio (0.74 vs 0.19), 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.
Find the right allocation for GLDM and GOLI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer