GOLI vs. IVVW
GOLI (Defiance Gold Enhanced Options Income ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. GOLI is actively managed, while IVVW is passively managed. Over the past year, GOLI returned 2.62% vs 17.61% for IVVW. At a 0.12 correlation, their price movements are largely independent. GOLI charges 0.99%/yr vs 0.25%/yr for IVVW.
Performance
GOLI vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, GOLI achieves a -11.06% return, which is significantly lower than IVVW's 5.72% return.
GOLI
- 1D
- 1.46%
- 1M
- -9.25%
- 6M
- -11.06%
- YTD
- -11.06%
- 1Y
- 2.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- 0.02%
- 1M
- 0.75%
- 6M
- 5.72%
- YTD
- 5.72%
- 1Y
- 17.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOLI vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GOLI Defiance Gold Enhanced Options Income ETF | -11.06% | 15.16% |
IVVW iShares S&P 500 BuyWrite ETF | 5.72% | 15.13% |
Correlation
The correlation between GOLI and IVVW is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | 0.12 |
The correlation between GOLI and IVVW shifts across timeframes, from 0.12 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GOLI vs. IVVW — Risk / Return Rank
GOLI
IVVW
GOLI vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Gold Enhanced Options Income ETF (GOLI) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| GOLI | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.48 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 3.04 | -2.94 |
| Martin ratioReturn relative to average drawdown | 0.34 | 16.16 | -15.81 |
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Drawdowns
GOLI vs. IVVW - Drawdown Comparison
The maximum GOLI drawdown since its inception was -25.88%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for GOLI and IVVW.
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Drawdown Indicators
| GOLI | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.88% | -16.79% | -9.09% |
Max Drawdown (1Y)Largest decline over 1 year | -25.88% | -5.81% | -20.07% |
Current DrawdownCurrent decline from peak | -20.91% | 0.00% | -20.91% |
Average DrawdownAverage peak-to-trough decline | -4.79% | -1.72% | -3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.62% | 1.09% | +6.53% |
Volatility
GOLI vs. IVVW - Volatility Comparison
Defiance Gold Enhanced Options Income ETF (GOLI) has a higher volatility of 15.20% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 3.61%. This indicates that GOLI's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOLI | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.20% | 3.61% | +11.59% |
Volatility (6M)Calculated over the trailing 6-month period | 23.23% | 6.98% | +16.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.87% | 8.09% | +16.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.35% | 12.65% | +10.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.35% | 12.65% | +10.70% |
GOLI vs. IVVW - Expense Ratio Comparison
GOLI has a 0.99% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
GOLI vs. IVVW - Dividend Comparison
GOLI's dividend yield for the trailing twelve months is around 52.65%, more than IVVW's 19.54% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GOLI Defiance Gold Enhanced Options Income ETF | 52.65% | 37.38% | 0.00% |
IVVW iShares S&P 500 BuyWrite ETF | 19.54% | 18.55% | 13.72% |
Frequently Asked Questions
GOLI and IVVW have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOLI has higher volatility (15.20%) compared to IVVW (3.61%). In terms of maximum drawdown, GOLI dropped -25.88% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 17.61% vs 2.62% for GOLI. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 17.61% return vs 2.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.99% for GOLI.
GOLI has the higher dividend yield at 52.65%, compared with 19.54% for IVVW.
They also come from different issuers: Defiance and iShares. Their fees differ too: 0.99% for GOLI and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.19 vs 0.11), 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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