GOLI vs. IWMY

Last updated Jul 2, 2026

GOLI (Defiance Gold Enhanced Options Income ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - GOLI is a Derivative Income fund actively managed by Defiance, while IWMY is a Options Trading fund tracking the Russell 2000 Index. GOLI is actively managed, while IWMY is passively managed. Over the past year, GOLI returned 2.62% vs 21.05% for IWMY. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

GOLI vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Gold Enhanced Options Income ETF (GOLI) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOLI achieves a -11.06% return, which is significantly lower than IWMY's 16.19% return.

GOLI

• 1D: 1.46%
• 1M: -9.25%
• 6M: -11.06%
• YTD: -11.06%
• 1Y: 2.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: -0.20%
• 1M: 3.08%
• 6M: 16.19%
• YTD: 16.19%
• 1Y: 21.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GOLI vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025
GOLI Defiance Gold Enhanced Options Income ETF	-11.06%	15.16%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	16.19%	13.10%

Correlation

The correlation between GOLI and IWMY is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.18

The correlation between GOLI and IWMY shifts across timeframes, from 0.18 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GOLI vs. IWMY — Risk / Return Rank

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

GOLI

GOLI Risk / Return Rank: 10
GOLI Sharpe Ratio Rank: 10
GOLI Sortino Ratio Rank: 10
GOLI Omega Ratio Rank: 11
GOLI Calmar Ratio Rank: 10
GOLI Martin Ratio Rank: 11

IWMY

IWMY Risk / Return Rank: 41
IWMY Sharpe Ratio Rank: 41
IWMY Sortino Ratio Rank: 39
IWMY Omega Ratio Rank: 39
IWMY Calmar Ratio Rank: 41
IWMY Martin Ratio Rank: 43

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.

GOLI vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Gold Enhanced Options Income ETF (GOLI) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	0.11	1.30	-1.19
Sortino ratio: Return per unit of downside risk	0.30	1.79	-1.49
Omega ratio: Gain probability vs. loss probability	1.05	1.23	-0.18
Calmar ratio: Return relative to maximum drawdown	0.10	1.83	-1.73
Martin ratio: Return relative to average drawdown	0.34	5.97	-5.62

GOLI vs. IWMY - Sharpe Ratio Comparison

The current GOLI Sharpe Ratio is 0.11, which is lower than the IWMY Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of GOLI and IWMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GOLI vs. IWMY - Drawdown Comparison

The maximum GOLI drawdown since its inception was -25.88%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for GOLI and IWMY.

Drawdown Indicators

	GOLI	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-25.88%	-18.72%	-7.16%
Max Drawdown (1Y) Largest decline over 1 year	-25.88%	-11.57%	-14.31%
Current Drawdown Current decline from peak	-20.91%	-0.20%	-20.71%
Average Drawdown Average peak-to-trough decline	-4.79%	-2.92%	-1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.62%	3.54%	+4.08%

Volatility

GOLI vs. IWMY - Volatility Comparison

Defiance Gold Enhanced Options Income ETF (GOLI) has a higher volatility of 15.20% compared to Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) at 5.96%. This indicates that GOLI's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLI	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.20%	5.96%	+9.24%
Volatility (6M) Calculated over the trailing 6-month period	23.23%	13.53%	+9.70%
Volatility (1Y) Calculated over the trailing 1-year period	24.87%	16.34%	+8.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.35%	15.89%	+7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.35%	15.89%	+7.46%

GOLI vs. IWMY - Expense Ratio Comparison

Both GOLI and IWMY have an expense ratio of 0.99%.

Dividends

GOLI vs. IWMY - Dividend Comparison

GOLI's dividend yield for the trailing twelve months is around 52.65%, more than IWMY's 42.89% yield.

Position	TTM	2025	2024	2023
GOLI Defiance Gold Enhanced Options Income ETF	52.65%	37.38%	0.00%	0.00%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	42.89%	63.33%	107.92%	11.34%

Frequently Asked Questions

Can I hold both GOLI and IWMY in my portfolio?

GOLI and IWMY have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOLI or IWMY?

GOLI has higher volatility (15.20%) compared to IWMY (5.96%). In terms of maximum drawdown, GOLI dropped -25.88% vs IWMY's -18.72%.

Which ETF is better, GOLI or IWMY?

On 1-year performance, IWMY leads with 21.05% vs 2.62% for GOLI. Both ETFs have the same 0.99% expense ratio. On volatility, IWMY has been the lower-risk option at 5.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOLI or IWMY?

Over the 1-year period, IWMY has performed better with a 21.05% return vs 2.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOLI or IWMY?

GOLI and IWMY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, GOLI or IWMY?

GOLI has the higher dividend yield at 52.65%, compared with 42.89% for IWMY.

What is the main difference between GOLI and IWMY?

GOLI is categorized as Derivative Income, while IWMY is Options Trading.

Which has better risk-adjusted returns?

IWMY currently has the higher Sharpe Ratio (1.30 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.