GLDY vs. GLDI
GLDY (Defiance Gold Enhanced Options Income ETF) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both exchange-traded funds - GLDY is a Derivative Income fund actively managed by Defiance, while GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. GLDY is actively managed, while GLDI is passively managed. Over the past year, GLDY returned 3.71% vs 11.67% for GLDI. A 0.80 correlation means they provide meaningful diversification when combined. GLDY charges 0.99%/yr vs 0.65%/yr for GLDI.
Performance
GLDY vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, GLDY achieves a -8.97% return, which is significantly lower than GLDI's -4.45% return.
GLDY
- 1D
- -1.42%
- 1M
- -7.47%
- YTD
- -8.97%
- 6M
- -11.98%
- 1Y
- 3.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDI
- 1D
- -1.62%
- 1M
- -7.19%
- YTD
- -4.45%
- 6M
- -5.42%
- 1Y
- 11.67%
- 3Y*
- 17.47%
- 5Y*
- 10.96%
- 10Y*
- 7.83%
GLDY vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | -8.97% | 15.15% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.45% | 23.94% |
Correlation
The correlation between GLDY and GLDI is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | 0.80 |
The correlation between GLDY and GLDI has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.
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Return for Risk
GLDY vs. GLDI — Risk / Return Rank
GLDY
GLDI
GLDY vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Gold Enhanced Options Income ETF (GLDY) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). 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.
| GLDY | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.16 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 0.83 | -0.68 |
| Martin ratioReturn relative to average drawdown | 0.54 | 2.73 | -2.19 |
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Drawdowns
GLDY vs. GLDI - Drawdown Comparison
The maximum GLDY drawdown since its inception was -25.90%, smaller than the maximum GLDI drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for GLDY and GLDI.
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Drawdown Indicators
| GLDY | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.90% | -32.26% | +6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -25.90% | -14.14% | -11.76% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.14% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.94% | — |
Current DrawdownCurrent decline from peak | -19.05% | -13.28% | -5.77% |
Average DrawdownAverage peak-to-trough decline | -4.47% | -13.99% | +9.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.91% | 4.30% | +2.61% |
Volatility
GLDY vs. GLDI - Volatility Comparison
Defiance Gold Enhanced Options Income ETF (GLDY) has a higher volatility of 14.83% compared to UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) at 7.18%. This indicates that GLDY's price experiences larger fluctuations and is considered to be riskier than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDY | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.83% | 7.18% | +7.65% |
Volatility (6M)Calculated over the trailing 6-month period | 23.20% | 14.58% | +8.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.59% | 15.99% | +8.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.27% | 11.58% | +11.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.27% | 11.52% | +11.75% |
GLDY vs. GLDI - Expense Ratio Comparison
GLDY has a 0.99% expense ratio, which is higher than GLDI's 0.65% expense ratio.
Dividends
GLDY vs. GLDI - Dividend Comparison
GLDY's dividend yield for the trailing twelve months is around 51.60%, more than GLDI's 26.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.67% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
GLDY Defiance Gold Enhanced Options Income ETF | 51.60% | 37.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLDY and GLDI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDY has higher volatility (14.83%) compared to GLDI (7.18%). In terms of maximum drawdown, GLDY dropped -25.90% vs GLDI's -32.26%.
On 1-year performance, GLDI leads with 11.67% vs 3.71% for GLDY. On fees, GLDI is cheaper at 0.65% per year. On volatility, GLDI has been the lower-risk option at 7.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GLDI has performed better with a 11.67% return vs 3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.99% for GLDY.
GLDY has the higher dividend yield at 51.60%, compared with 26.67% for GLDI.
GLDY is categorized as Derivative Income, while GLDI is Gold. They also come from different issuers: Defiance and UBS. Their fees differ too: 0.99% for GLDY and 0.65% for GLDI.
GLDI currently has the higher Sharpe Ratio (0.73 vs 0.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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