GLDY vs. IAUM
GLDY (Defiance Gold Enhanced Options Income ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - GLDY is a Derivative Income fund actively managed by Defiance, while IAUM is a Gold fund tracking the LBMA Gold Price PM. GLDY is actively managed, while IAUM is passively managed. Over the past year, GLDY returned 3.71% vs 21.67% for IAUM. Their correlation of 0.88 suggests significant overlap in exposure. GLDY charges 0.99%/yr vs 0.09%/yr for IAUM.
Performance
GLDY vs. IAUM - 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 IAUM's -4.68% return.
GLDY
- 1D
- -1.42%
- 1M
- -7.47%
- YTD
- -8.97%
- 6M
- -11.98%
- 1Y
- 3.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAUM
- 1D
- -1.87%
- 1M
- -8.79%
- YTD
- -4.68%
- 6M
- -8.59%
- 1Y
- 21.67%
- 3Y*
- 28.82%
- 5Y*
- —
- 10Y*
- —
GLDY vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | -8.97% | 15.15% |
IAUM iShares Gold Trust Micro | -4.68% | 38.19% |
Correlation
The correlation between GLDY and IAUM is 0.88, 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 | 0.88 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | 0.88 |
The correlation between GLDY and IAUM has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.
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Return for Risk
GLDY vs. IAUM — Risk / Return Rank
GLDY
IAUM
GLDY vs. IAUM - 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 Micro (IAUM). 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 | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.17 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 0.89 | -0.75 |
| Martin ratioReturn relative to average drawdown | 0.54 | 2.40 | -1.86 |
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Drawdowns
GLDY vs. IAUM - Drawdown Comparison
The maximum GLDY drawdown since its inception was -25.90%, which is greater than IAUM's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for GLDY and IAUM.
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Drawdown Indicators
| GLDY | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.90% | -24.37% | -1.53% |
Max Drawdown (1Y)Largest decline over 1 year | -25.90% | -24.37% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.37% | — |
Current DrawdownCurrent decline from peak | -19.05% | -23.81% | +4.76% |
Average DrawdownAverage peak-to-trough decline | -4.47% | -5.46% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.91% | 9.06% | -2.15% |
Volatility
GLDY vs. IAUM - Volatility Comparison
Defiance Gold Enhanced Options Income ETF (GLDY) has a higher volatility of 14.83% compared to iShares Gold Trust Micro (IAUM) at 8.12%. This indicates that GLDY's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDY | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.83% | 8.12% | +6.71% |
Volatility (6M)Calculated over the trailing 6-month period | 23.20% | 24.11% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.59% | 27.27% | -2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.27% | 18.10% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.27% | 18.10% | +5.17% |
GLDY vs. IAUM - Expense Ratio Comparison
GLDY has a 0.99% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
GLDY vs. IAUM - Dividend Comparison
GLDY's dividend yield for the trailing twelve months is around 51.60%, while IAUM has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | 51.60% | 37.38% |
IAUM iShares Gold Trust Micro | 0.00% | 0.00% |
Frequently Asked Questions
GLDY and IAUM have a correlation of 0.88, 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 IAUM (8.12%). In terms of maximum drawdown, GLDY dropped -25.90% vs IAUM's -24.37%.
On 1-year performance, IAUM leads with 21.67% vs 3.71% for GLDY. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IAUM has performed better with a 21.67% return vs 3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.99% for GLDY.
GLDY has the higher dividend yield at 51.60%, compared with 0.00% for IAUM.
GLDY is categorized as Derivative Income, while IAUM is Gold. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.99% for GLDY and 0.09% for IAUM.
IAUM currently has the higher Sharpe Ratio (0.80 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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