GLDY vs. XRMI

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance Gold Enhanced Options Income ETF (GLDY) and Global X S&P 500 Risk Managed Income ETF (XRMI).

GLDY and XRMI 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. XRMI is a passively managed fund by Global X that tracks the performance of the Cboe S&P 500 Risk Managed Income Index. It was launched on Aug 25, 2021.

Performance

GLDY vs. XRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Gold Enhanced Options Income ETF (GLDY) and Global X S&P 500 Risk Managed Income ETF (XRMI). The values are adjusted to include any dividend payments, if applicable.

GLDY vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025
GLDY Defiance Gold Enhanced Options Income ETF	3.29%	15.40%
XRMI Global X S&P 500 Risk Managed Income ETF	-2.13%	5.99%

Returns By Period

In the year-to-date period, GLDY achieves a 3.29% return, which is significantly higher than XRMI's -2.13% return.

GLDY

• 1D: 1.55%
• 1M: -7.30%
• YTD: 3.29%
• 6M: 8.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRMI

• 1D: 0.41%
• 1M: -3.63%
• YTD: -2.13%
• 6M: 1.59%
• 1Y: 4.23%
• 3Y*: 6.19%
• 5Y*: —
• 10Y*: —

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

GLDY vs. XRMI - Expense Ratio Comparison

GLDY has a 0.99% expense ratio, which is higher than XRMI's 0.60% expense ratio.

GLDY

Defiance Gold Enhanced Options Income ETF

XRMI

Global X S&P 500 Risk Managed Income ETF

Return for Risk

GLDY vs. XRMI — Risk / Return Rank

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

XRMI

XRMI Risk / Return Rank: 30
XRMI Sharpe Ratio Rank: 31
XRMI Sortino Ratio Rank: 29
XRMI Omega Ratio Rank: 29
XRMI Calmar Ratio Rank: 30
XRMI Martin Ratio Rank: 31

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. XRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Gold Enhanced Options Income ETF (GLDY) and Global X S&P 500 Risk Managed Income ETF (XRMI). 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	XRMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.26	+0.71

Correlation

The correlation between GLDY and XRMI is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GLDY vs. XRMI - Dividend Comparison

GLDY's dividend yield for the trailing twelve months is around 47.30%, more than XRMI's 12.78% yield.

	TTM	2025	2024	2023	2022	2021
GLDY Defiance Gold Enhanced Options Income ETF	47.30%	37.38%	0.00%	0.00%	0.00%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	12.78%	12.35%	11.86%	12.62%	12.84%	2.93%

Drawdowns

GLDY vs. XRMI - Drawdown Comparison

The maximum GLDY drawdown since its inception was -13.43%, smaller than the maximum XRMI drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for GLDY and XRMI.

Drawdown Indicators

	GLDY	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-13.43%	-15.31%	+1.88%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.02%	—
Current Drawdown Current decline from peak	-8.15%	-3.86%	-4.29%
Average Drawdown Average peak-to-trough decline	-2.84%	-6.10%	+3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.47%	—

Volatility

Volatility by Period

	GLDY	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.00%	6.88%	+13.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.00%	6.99%	+13.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.00%	6.99%	+13.01%