GLDY vs. IYW
GLDY (Defiance Gold Enhanced Options Income ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - GLDY is a Derivative Income fund actively managed by Defiance, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. GLDY is actively managed, while IYW is passively managed. Over the past year, GLDY returned 5.56% vs 50.17% for IYW. At a 0.08 correlation, their price movements are largely independent. GLDY charges 0.99%/yr vs 0.38%/yr for IYW.
Performance
GLDY vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, GLDY achieves a -7.57% return, which is significantly lower than IYW's 22.66% return.
GLDY
- 1D
- 10.92%
- 1M
- -7.14%
- YTD
- -7.57%
- 6M
- -7.59%
- 1Y
- 5.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYW
- 1D
- 0.61%
- 1M
- 2.53%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 50.17%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
GLDY vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | -7.57% | 15.15% |
IYW iShares U.S. Technology ETF | 22.66% | 40.92% |
Correlation
The correlation between GLDY and IYW is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | 0.08 |
The correlation between GLDY and IYW shifts across timeframes, from 0.08 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDY vs. IYW — Risk / Return Rank
GLDY
IYW
GLDY vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Gold Enhanced Options Income ETF (GLDY) and iShares U.S. Technology ETF (IYW). 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 | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.38 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 2.70 | -2.46 |
| Martin ratioReturn relative to average drawdown | 1.01 | 8.68 | -7.67 |
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Drawdowns
GLDY vs. IYW - Drawdown Comparison
The maximum GLDY drawdown since its inception was -25.90%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for GLDY and IYW.
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Drawdown Indicators
| GLDY | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.90% | -81.90% | +56.00% |
Max Drawdown (1Y)Largest decline over 1 year | -25.90% | -17.81% | -8.09% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.44% | — |
Current DrawdownCurrent decline from peak | -17.80% | -5.81% | -11.99% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -34.62% | +30.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 5.54% | +0.83% |
Volatility
GLDY vs. IYW - Volatility Comparison
Defiance Gold Enhanced Options Income ETF (GLDY) has a higher volatility of 14.74% compared to iShares U.S. Technology ETF (IYW) at 9.41%. This indicates that GLDY's price experiences larger fluctuations and is considered to be riskier than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDY | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.74% | 9.41% | +5.33% |
Volatility (6M)Calculated over the trailing 6-month period | 23.06% | 17.67% | +5.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.44% | 21.47% | +2.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.33% | 26.07% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.33% | 25.20% | -1.87% |
GLDY vs. IYW - Expense Ratio Comparison
GLDY has a 0.99% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
GLDY vs. IYW - Dividend Comparison
GLDY's dividend yield for the trailing twelve months is around 50.86%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | 50.86% | 37.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
GLDY and IYW have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDY has higher volatility (14.74%) compared to IYW (9.41%). In terms of maximum drawdown, GLDY dropped -25.90% vs IYW's -81.90%.
On 1-year performance, IYW leads with 50.17% vs 5.56% for GLDY. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 9.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYW has performed better with a 50.17% return vs 5.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.99% for GLDY.
GLDY has the higher dividend yield at 50.86%, compared with 0.11% for IYW.
GLDY is categorized as Derivative Income, while IYW is Technology Equities. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.99% for GLDY and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.24 vs 0.26), 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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