GLDN vs. GOLI

Last updated Jul 17, 2026

GLDN (Nicholas Gold Income ETF) and GOLI (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - GLDN is a Gold fund actively managed by Nicholas, while GOLI is a Derivative Income fund actively managed by Defiance. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. GLDN charges 1.07%/yr vs 0.99%/yr for GOLI.

Performance

GLDN vs. GOLI - 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 (GOLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GLDN

• 1D: -3.48%
• 1M: -16.49%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GOLI

• 1D: -2.04%
• 1M: -6.39%
• 6M: -15.65%
• YTD: -11.41%
• 1Y: 1.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLDN vs. GOLI - Yearly Performance Comparison

	2026 (YTD)
GLDN Nicholas Gold Income ETF	-29.47%
GOLI Defiance Gold Enhanced Options Income ETF	-14.01%

Correlation

The correlation between GLDN and GOLI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026	0.79

Return for Risk

GLDN vs. GOLI — 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.

GOLI

GOLI Risk / Return Rank: 11
GOLI Sharpe Ratio Rank: 11
GOLI Sortino Ratio Rank: 10
GOLI Omega Ratio Rank: 11
GOLI Calmar Ratio Rank: 10
GOLI Martin Ratio Rank: 11

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. GOLI - 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 (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.

	GLDN	GOLI	Difference
Sharpe ratio: Return per unit of total volatility	—	0.07	—
Sortino ratio: Return per unit of downside risk	—	0.25	—
Omega ratio: Gain probability vs. loss probability	—	1.04	—
Calmar ratio: Return relative to maximum drawdown	—	0.06	—
Martin ratio: Return relative to average drawdown	—	0.19	—

Drawdowns

GLDN vs. GOLI - Drawdown Comparison

The maximum GLDN drawdown since its inception was -35.79%, which is greater than GOLI's maximum drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for GLDN and GOLI.

Drawdown Indicators

	GLDN	GOLI	Difference
Max Drawdown Largest peak-to-trough decline	-35.79%	-25.88%	-9.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.88%	—
Current Drawdown Current decline from peak	-35.79%	-21.22%	-14.57%
Average Drawdown Average peak-to-trough decline	-19.45%	-5.25%	-14.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.57%	—

Volatility

Volatility by Period

	GLDN	GOLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	42.06%	25.12%	+16.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.06%	23.24%	+18.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.06%	23.24%	+18.82%

GLDN vs. GOLI - Expense Ratio Comparison

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

Dividends

GLDN vs. GOLI - Dividend Comparison

GLDN's dividend yield for the trailing twelve months is around 6.95%, less than GOLI's 52.98% yield.

Position	TTM	2025
GLDN Nicholas Gold Income ETF	6.95%	0.00%
GOLI Defiance Gold Enhanced Options Income ETF	52.98%	37.38%

Frequently Asked Questions

Can I hold both GLDN and GOLI in my portfolio?

GLDN and GOLI have a correlation of 0.79, 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 GOLI?

On fees, GOLI 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 GOLI?

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

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

GOLI has the higher dividend yield at 52.98%, compared with 6.95% for GLDN.

What is the main difference between GLDN and GOLI?

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