GLDN vs. FGDL

Last updated Jun 18, 2026

GLDN (Nicholas Gold Income ETF) and FGDL (Franklin Responsibly Sourced Gold ETF) are both Gold funds. GLDN is actively managed, while FGDL is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. GLDN charges 1.07%/yr vs 0.15%/yr for FGDL.

Performance

GLDN vs. FGDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Gold Income ETF (GLDN) and Franklin Responsibly Sourced Gold ETF (FGDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GLDN

• 1D: -2.40%
• 1M: -4.25%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGDL

• 1D: -2.17%
• 1M: -7.00%
• YTD: -1.94%
• 6M: -2.62%
• 1Y: 24.65%
• 3Y*: 29.25%
• 5Y*: —
• 10Y*: —

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

GLDN vs. FGDL - Yearly Performance Comparison

	2026 (YTD)
GLDN Nicholas Gold Income ETF	-17.58%
FGDL Franklin Responsibly Sourced Gold ETF	-13.29%

Correlation

The correlation between GLDN and FGDL is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026	0.87

Return for Risk

GLDN vs. FGDL — Risk / Return Rank

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

GLDN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FGDL

FGDL Risk / Return Rank: 24
FGDL Sharpe Ratio Rank: 26
FGDL Sortino Ratio Rank: 23
FGDL Omega Ratio Rank: 27
FGDL Calmar Ratio Rank: 22
FGDL Martin Ratio Rank: 22

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.

GLDN vs. FGDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Gold Income ETF (GLDN) and Franklin Responsibly Sourced Gold ETF (FGDL). 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.

	GLDN	FGDL	Difference
Sharpe ratio: Return per unit of total volatility	—	0.89	—
Sortino ratio: Return per unit of downside risk	—	1.25	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.00	—
Martin ratio: Return relative to average drawdown	—	2.78	—

Drawdowns

GLDN vs. FGDL - Drawdown Comparison

The maximum GLDN drawdown since its inception was -33.32%, which is greater than FGDL's maximum drawdown of -24.73%. Use the drawdown chart below to compare losses from any high point for GLDN and FGDL.

Drawdown Indicators

	GLDN	FGDL	Difference
Max Drawdown Largest peak-to-trough decline	-33.32%	-24.73%	-8.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-24.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.73%	—
Current Drawdown Current decline from peak	-24.96%	-21.65%	-3.31%
Average Drawdown Average peak-to-trough decline	-16.67%	-4.02%	-12.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.90%	—

Volatility

Volatility by Period

	GLDN	FGDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	43.31%	27.76%	+15.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.31%	19.33%	+23.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.31%	19.33%	+23.98%

GLDN vs. FGDL - Expense Ratio Comparison

GLDN has a 1.07% expense ratio, which is higher than FGDL's 0.15% expense ratio.

Dividends

GLDN vs. FGDL - Dividend Comparison

GLDN's dividend yield for the trailing twelve months is around 4.82%, while FGDL has not paid dividends to shareholders.

Position	TTM
FGDL Franklin Responsibly Sourced Gold ETF	0.00%
GLDN Nicholas Gold Income ETF	4.82%

Frequently Asked Questions

Can I hold both GLDN and FGDL in my portfolio?

GLDN and FGDL have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLDN or FGDL?

On fees, FGDL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDN or FGDL?

FGDL is cheaper with a 0.15% expense ratio, compared with 1.07% for GLDN.

Which ETF pays a higher dividend yield, GLDN or FGDL?

GLDN has the higher dividend yield at 4.82%, compared with 0.00% for FGDL.

What is the main difference between GLDN and FGDL?

They also come from different issuers: Nicholas and Franklin Templeton. Their fees differ too: 1.07% for GLDN and 0.15% for FGDL.