GLDN vs. GLDY

Last updated Jun 6, 2026

GLDN (Nicholas Gold Income ETF) and GLDY (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - GLDN is a Gold fund actively managed by Nicholas, while GLDY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. GLDN charges 1.07%/yr vs 0.99%/yr for GLDY.

Performance

GLDN vs. GLDY - Performance Comparison

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

Returns By Period

GLDN

• 1D: -6.72%
• 1M: -12.29%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDY

• 1D: -3.20%
• 1M: -6.81%
• YTD: -5.06%
• 6M: -3.13%
• 1Y: 10.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLDN vs. GLDY - Yearly Performance Comparison

	2026 (YTD)
GLDN Nicholas Gold Income ETF	-21.20%
GLDY Defiance Gold Enhanced Options Income ETF	-8.99%

Correlation

The correlation between GLDN and GLDY is 0.82, 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 19, 2026	0.82

Return for Risk

GLDN vs. GLDY — Risk / Return Rank

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

GLDY

GLDY Risk / Return Rank: 18
GLDY Sharpe Ratio Rank: 18
GLDY Sortino Ratio Rank: 16
GLDY Omega Ratio Rank: 20
GLDY Calmar Ratio Rank: 18
GLDY Martin Ratio Rank: 18

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. GLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Gold Income ETF (GLDN) and Defiance Gold Enhanced Options Income ETF (GLDY). 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.

Sharpe Ratios by Period

	GLDN	GLDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.33	0.41	-1.74

Drawdowns

GLDN vs. GLDY - Drawdown Comparison

The maximum GLDN drawdown since its inception was -28.04%, which is greater than GLDY's maximum drawdown of -15.57%. Use the drawdown chart below to compare losses from any high point for GLDN and GLDY.

Drawdown Indicators

	GLDN	GLDY	Difference
Max Drawdown Largest peak-to-trough decline	-28.04%	-15.57%	-12.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.57%	—
Current Drawdown Current decline from peak	-28.04%	-15.57%	-12.47%
Average Drawdown Average peak-to-trough decline	-15.70%	-3.98%	-11.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.75%	—

Volatility

Volatility by Period

	GLDN	GLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.94%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	41.85%	20.12%	+21.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.85%	19.75%	+22.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.85%	19.75%	+22.10%

GLDN vs. GLDY - Expense Ratio Comparison

GLDN has a 1.07% expense ratio, which is higher than GLDY's 0.99% expense ratio.

Dividends

GLDN vs. GLDY - Dividend Comparison

GLDN's dividend yield for the trailing twelve months is around 4.42%, less than GLDY's 48.65% yield.

Position	TTM	2025
GLDN Nicholas Gold Income ETF	4.42%	0.00%
GLDY Defiance Gold Enhanced Options Income ETF	48.65%	37.38%

Frequently Asked Questions

Can I hold both GLDN and GLDY in my portfolio?

GLDN and GLDY have a correlation of 0.82, 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 GLDY?

On fees, GLDY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDN or GLDY?

GLDY is cheaper with a 0.99% expense ratio, compared with 1.07% for GLDN.

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

GLDY has the higher dividend yield at 48.65%, compared with 4.42% for GLDN.

What is the main difference between GLDN and GLDY?

GLDN is categorized as Gold, while GLDY is Derivative Income. They also come from different issuers: Nicholas and Defiance. Their fees differ too: 1.07% for GLDN and 0.99% for GLDY.