GLDY vs. GDX

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Gold Enhanced Options Income ETF (GLDY) and VanEck Gold Miners ETF (GDX).

GLDY and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLDY is an actively managed fund by Defiance. It was launched on Apr 1, 2025. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE MarketVector Global Gold Miners Index. It was launched on May 16, 2006.

Performance

GLDY vs. GDX - Performance Comparison

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

GLDY vs. GDX - Yearly Performance Comparison

	2026 (YTD)	2025
GLDY Defiance Gold Enhanced Options Income ETF	1.71%	15.40%
GDX VanEck Gold Miners ETF	7.00%	88.80%

Returns By Period

In the year-to-date period, GLDY achieves a 1.71% return, which is significantly lower than GDX's 7.00% return.

GLDY

• 1D: 1.38%
• 1M: -7.41%
• YTD: 1.71%
• 6M: 7.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDX

• 1D: 6.97%
• 1M: -20.78%
• YTD: 7.00%
• 6M: 20.99%
• 1Y: 101.08%
• 3Y*: 43.23%
• 5Y*: 23.96%
• 10Y*: 17.53%

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

GLDY vs. GDX - Expense Ratio Comparison

GLDY has a 0.99% expense ratio, which is higher than GDX's 0.51% expense ratio.

GLDY

Defiance Gold Enhanced Options Income ETF

GDX

VanEck Gold Miners ETF

Return for Risk

GLDY vs. GDX — Risk / Return Rank

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

GDX

GDX Risk / Return Rank: 92
GDX Sharpe Ratio Rank: 94
GDX Sortino Ratio Rank: 90
GDX Omega Ratio Rank: 89
GDX Calmar Ratio Rank: 93
GDX Martin Ratio Rank: 92

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.

GLDY vs. GDX - Risk-Adjusted Trends Comparison

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

	GLDY	GDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.21	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.14	+0.74

Correlation

The correlation between GLDY and GDX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GLDY vs. GDX - Dividend Comparison

GLDY's dividend yield for the trailing twelve months is around 48.03%, more than GDX's 0.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLDY Defiance Gold Enhanced Options Income ETF	48.03%	37.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GDX VanEck Gold Miners ETF	0.69%	0.74%	1.19%	1.61%	1.66%	1.67%	0.53%	0.67%	0.50%	0.76%	0.26%	0.85%

Drawdowns

GLDY vs. GDX - Drawdown Comparison

The maximum GLDY drawdown since its inception was -13.43%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for GLDY and GDX.

Drawdown Indicators

	GLDY	GDX	Difference
Max Drawdown Largest peak-to-trough decline	-13.43%	-80.34%	+66.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-30.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.79%	—
Current Drawdown Current decline from peak	-9.56%	-20.78%	+11.22%
Average Drawdown Average peak-to-trough decline	-2.82%	-40.61%	+37.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.52%	—

Volatility

Volatility by Period

	GLDY	GDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.99%	46.00%	-26.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.99%	35.73%	-15.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	37.44%	-17.45%