GLDN vs. RING
GLDN (Nicholas Gold Income ETF) and RING (iShares MSCI Global Gold Miners ETF) are both Gold funds. GLDN is actively managed, while RING is passively managed. With a 0.97 correlation, they move nearly in lockstep. GLDN charges 1.07%/yr vs 0.39%/yr for RING.
Performance
GLDN vs. RING - Performance Comparison
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Returns By Period
GLDN
- 1D
- 1.27%
- 1M
- -14.34%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RING
- 1D
- 1.46%
- 1M
- -10.92%
- YTD
- -9.75%
- 6M
- -15.46%
- 1Y
- 51.02%
- 3Y*
- 44.27%
- 5Y*
- 20.50%
- 10Y*
- 12.85%
GLDN vs. RING - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
GLDN Nicholas Gold Income ETF | -25.75% |
RING iShares MSCI Global Gold Miners ETF | -23.14% |
Correlation
The correlation between GLDN and RING is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026 | 0.97 |
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Return for Risk
GLDN vs. RING — Risk / Return Rank
GLDN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
RING
GLDN vs. RING - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Gold Income ETF (GLDN) and iShares MSCI Global Gold Miners ETF (RING). 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 | RING | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.20 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.44 | — |
| Martin ratioReturn relative to average drawdown | — | 3.68 | — |
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Drawdowns
GLDN vs. RING - Drawdown Comparison
The maximum GLDN drawdown since its inception was -33.32%, smaller than the maximum RING drawdown of -79.47%. Use the drawdown chart below to compare losses from any high point for GLDN and RING.
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Drawdown Indicators
| GLDN | RING | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.32% | -79.47% | +46.15% |
Max Drawdown (1Y)Largest decline over 1 year | — | -35.72% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.04% | — |
Current DrawdownCurrent decline from peak | -32.40% | -33.15% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -17.43% | -47.32% | +29.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 13.91% | — |
Volatility
GLDN vs. RING - Volatility Comparison
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Volatility by Period
| GLDN | RING | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.08% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 39.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 43.22% | 48.19% | -4.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.22% | 36.99% | +6.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.22% | 36.74% | +6.48% |
GLDN vs. RING - Expense Ratio Comparison
GLDN has a 1.07% expense ratio, which is higher than RING's 0.39% expense ratio.
Dividends
GLDN vs. RING - Dividend Comparison
GLDN's dividend yield for the trailing twelve months is around 5.69%, more than RING's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDN Nicholas Gold Income ETF | 5.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RING iShares MSCI Global Gold Miners ETF | 1.37% | 0.84% | 1.43% | 2.01% | 2.29% | 2.38% | 0.83% | 0.83% | 0.70% | 0.42% | 1.41% | 0.96% |
Frequently Asked Questions
With a correlation of 0.97, GLDN and RING move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, RING is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RING is cheaper with a 0.39% expense ratio, compared with 1.07% for GLDN.
GLDN has the higher dividend yield at 5.69%, compared with 1.37% for RING.
They also come from different issuers: Nicholas and iShares. Their fees differ too: 1.07% for GLDN and 0.39% for RING.
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