GLDY vs. IAU
GLDY (Defiance Gold Enhanced Options Income ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - GLDY is a Derivative Income fund actively managed by Defiance, while IAU is a Gold fund tracking the LBMA Gold Price. GLDY is actively managed, while IAU is passively managed. Over the past year, GLDY returned 13.84% vs 32.20% for IAU. Their correlation of 0.89 suggests significant overlap in exposure. GLDY charges 0.99%/yr vs 0.25%/yr for IAU.
Performance
GLDY vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, GLDY achieves a -2.30% return, which is significantly lower than IAU's 2.98% return.
GLDY
- 1D
- -0.58%
- 1M
- -1.38%
- YTD
- -2.30%
- 6M
- -0.58%
- 1Y
- 13.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAU
- 1D
- -0.98%
- 1M
- -1.62%
- YTD
- 2.98%
- 6M
- 5.50%
- 1Y
- 32.20%
- 3Y*
- 31.29%
- 5Y*
- 18.32%
- 10Y*
- 13.31%
GLDY vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | -2.30% | 15.40% |
IAU iShares Gold Trust | 2.98% | 37.69% |
Correlation
The correlation between GLDY and IAU is 0.89, 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 | 0.89 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | 0.89 |
The correlation between GLDY and IAU has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.
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Return for Risk
GLDY vs. IAU — Risk / Return Rank
GLDY
IAU
GLDY vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Gold Enhanced Options Income ETF (GLDY) and iShares Gold Trust (IAU). 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.
| GLDY | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.69 | -0.65 |
| Martin ratioReturn relative to average drawdown | 2.47 | 4.19 | -1.71 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GLDY | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.70 | 1.23 | -0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.03 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.62 | -0.07 |
Drawdowns
GLDY vs. IAU - Drawdown Comparison
The maximum GLDY drawdown since its inception was -13.43%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for GLDY and IAU.
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Drawdown Indicators
| GLDY | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.43% | -45.14% | +31.71% |
Max Drawdown (1Y)Largest decline over 1 year | -13.43% | -19.18% | +5.75% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.82% | — |
Current DrawdownCurrent decline from peak | -13.12% | -17.70% | +4.58% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -15.96% | +12.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.61% | 7.71% | -2.10% |
Volatility
GLDY vs. IAU - Volatility Comparison
The current volatility for Defiance Gold Enhanced Options Income ETF (GLDY) is 4.56%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that GLDY experiences smaller price fluctuations and is considered to be less risky than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDY | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.56% | 5.50% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 18.27% | 23.02% | -4.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.87% | 26.42% | -6.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.58% | 17.95% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 15.90% | +3.68% |
GLDY vs. IAU - Expense Ratio Comparison
GLDY has a 0.99% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
GLDY vs. IAU - Dividend Comparison
GLDY's dividend yield for the trailing twelve months is around 46.42%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | 46.42% | 37.38% |
IAU iShares Gold Trust | 0.00% | 0.00% |
Frequently Asked Questions
GLDY and IAU have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (5.50%) compared to GLDY (4.56%). In terms of maximum drawdown, GLDY dropped -13.43% vs IAU's -45.14%.
On 1-year performance, IAU leads with 32.20% vs 13.84% for GLDY. On fees, IAU is cheaper at 0.25% per year. On volatility, GLDY has been the lower-risk option at 4.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IAU has performed better with a 32.20% return vs 13.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAU is cheaper with a 0.25% expense ratio, compared with 0.99% for GLDY.
GLDY has the higher dividend yield at 46.42%, compared with 0.00% for IAU.
GLDY is categorized as Derivative Income, while IAU is Gold. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.99% for GLDY and 0.25% for IAU.
IAU currently has the higher Sharpe Ratio (1.23 vs 0.70), 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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