GLDN vs. GIAX
GLDN (Nicholas Gold Income ETF) and GIAX (Nicholas Global Equity and Income ETF) are both exchange-traded funds - GLDN is a Gold fund actively managed by Nicholas, while GIAX is a Derivative Income fund actively managed by Nicholas. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. GLDN charges 1.07%/yr vs 0.97%/yr for GIAX.
Performance
GLDN vs. GIAX - Performance Comparison
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Returns By Period
GLDN
- 1D
- -6.72%
- 1M
- -12.29%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GIAX
- 1D
- -5.30%
- 1M
- 1.99%
- YTD
- 15.26%
- 6M
- 11.99%
- 1Y
- 25.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDN vs. GIAX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
GLDN Nicholas Gold Income ETF | -21.20% |
GIAX Nicholas Global Equity and Income ETF | 17.72% |
Correlation
The correlation between GLDN and GIAX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026 | 0.48 |
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Return for Risk
GLDN vs. GIAX — Risk / Return Rank
GLDN
GIAX
GLDN vs. GIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Gold Income ETF (GLDN) and Nicholas Global Equity and Income ETF (GIAX). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| GLDN | GIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.33 | 0.78 | -2.11 |
Drawdowns
GLDN vs. GIAX - Drawdown Comparison
The maximum GLDN drawdown since its inception was -28.04%, which is greater than GIAX's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for GLDN and GIAX.
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Drawdown Indicators
| GLDN | GIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.04% | -20.38% | -7.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -17.62% | — |
Current DrawdownCurrent decline from peak | -28.04% | -8.34% | -19.70% |
Average DrawdownAverage peak-to-trough decline | -15.70% | -3.00% | -12.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.11% | — |
Volatility
GLDN vs. GIAX - Volatility Comparison
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Volatility by Period
| GLDN | GIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.57% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.56% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 41.85% | 22.44% | +19.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.85% | 21.78% | +20.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.85% | 21.78% | +20.07% |
GLDN vs. GIAX - Expense Ratio Comparison
GLDN has a 1.07% expense ratio, which is higher than GIAX's 0.97% expense ratio.
Dividends
GLDN vs. GIAX - Dividend Comparison
GLDN's dividend yield for the trailing twelve months is around 4.42%, less than GIAX's 24.27% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GIAX Nicholas Global Equity and Income ETF | 24.27% | 25.62% | 10.58% |
GLDN Nicholas Gold Income ETF | 4.42% | 0.00% | 0.00% |
Frequently Asked Questions
GLDN and GIAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GIAX is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GIAX is cheaper with a 0.97% expense ratio, compared with 1.07% for GLDN.
GIAX has the higher dividend yield at 24.27%, compared with 4.42% for GLDN.
GLDN is categorized as Gold, while GIAX is Derivative Income. Their fees differ too: 1.07% for GLDN and 0.97% for GIAX.
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