GOLY vs. ENDW

Last updated Jun 5, 2026

GOLY (Strategy Shares Gold-Hedged Bond ETF) and ENDW (Cambria Endowment Style ETF) are both exchange-traded funds - GOLY is a Nontraditional Bonds fund tracking the Solactive Gold-Backed Bond Index, while ENDW is a Global Allocation fund actively managed by Cambria. GOLY is passively managed, while ENDW is actively managed. Over the past year, GOLY returned 3.79% vs 28.01% for ENDW. At a 0.33 correlation, their price movements are largely independent. GOLY charges 0.79%/yr vs 0.29%/yr for ENDW.

Performance

GOLY vs. ENDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategy Shares Gold-Hedged Bond ETF (GOLY) and Cambria Endowment Style ETF (ENDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOLY achieves a -18.09% return, which is significantly lower than ENDW's 11.17% return.

GOLY

• 1D: 1.19%
• 1M: -1.96%
• YTD: -18.09%
• 6M: -15.05%
• 1Y: 3.79%
• 3Y*: 17.72%
• 5Y*: 6.28%
• 10Y*: —

ENDW

• 1D: 0.36%
• 1M: 1.31%
• YTD: 11.17%
• 6M: 11.61%
• 1Y: 28.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GOLY vs. ENDW - Yearly Performance Comparison

	2026 (YTD)	2025
GOLY Strategy Shares Gold-Hedged Bond ETF	-18.09%	38.01%
ENDW Cambria Endowment Style ETF	11.17%	30.77%

Correlation

The correlation between GOLY and ENDW is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Apr 11, 2025	0.33

The correlation between GOLY and ENDW shifts across timeframes, from 0.33 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GOLY vs. ENDW — Risk / Return Rank

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

GOLY

GOLY Risk / Return Rank: 11
GOLY Sharpe Ratio Rank: 11
GOLY Sortino Ratio Rank: 11
GOLY Omega Ratio Rank: 12
GOLY Calmar Ratio Rank: 11
GOLY Martin Ratio Rank: 10

ENDW

ENDW Risk / Return Rank: 85
ENDW Sharpe Ratio Rank: 86
ENDW Sortino Ratio Rank: 85
ENDW Omega Ratio Rank: 84
ENDW Calmar Ratio Rank: 83
ENDW Martin Ratio Rank: 86

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.

GOLY vs. ENDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and Cambria Endowment Style ETF (ENDW). 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.

	GOLY	ENDW	Difference
Sharpe ratio: Return per unit of total volatility	0.12	2.78	-2.66
Sortino ratio: Return per unit of downside risk	0.36	3.77	-3.41
Omega ratio: Gain probability vs. loss probability	1.05	1.50	-0.45
Calmar ratio: Return relative to maximum drawdown	0.13	4.37	-4.25
Martin ratio: Return relative to average drawdown	0.29	17.84	-17.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOLY vs. ENDW - Sharpe Ratio Comparison

The current GOLY Sharpe Ratio is 0.12, which is lower than the ENDW Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of GOLY and ENDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GOLY	ENDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	2.78	-2.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	3.53	-3.24

Drawdowns

GOLY vs. ENDW - Drawdown Comparison

The maximum GOLY drawdown since its inception was -35.99%, which is greater than ENDW's maximum drawdown of -6.44%. Use the drawdown chart below to compare losses from any high point for GOLY and ENDW.

Drawdown Indicators

	GOLY	ENDW	Difference
Max Drawdown Largest peak-to-trough decline	-35.99%	-6.44%	-29.55%
Max Drawdown (1Y) Largest decline over 1 year	-30.16%	-6.44%	-23.72%
Max Drawdown (3Y) Largest decline over 3 years	-30.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.99%	—	—
Current Drawdown Current decline from peak	-29.33%	-0.27%	-29.06%
Average Drawdown Average peak-to-trough decline	-11.87%	-0.81%	-11.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.12%	1.57%	+11.55%

Volatility

GOLY vs. ENDW - Volatility Comparison

Strategy Shares Gold-Hedged Bond ETF (GOLY) has a higher volatility of 6.55% compared to Cambria Endowment Style ETF (ENDW) at 2.66%. This indicates that GOLY's price experiences larger fluctuations and is considered to be riskier than ENDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLY	ENDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.55%	2.66%	+3.89%
Volatility (6M) Calculated over the trailing 6-month period	29.54%	7.62%	+21.92%
Volatility (1Y) Calculated over the trailing 1-year period	32.90%	10.12%	+22.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.30%	10.98%	+11.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.21%	10.98%	+11.23%

GOLY vs. ENDW - Expense Ratio Comparison

GOLY has a 0.79% expense ratio, which is higher than ENDW's 0.29% expense ratio.

Dividends

GOLY vs. ENDW - Dividend Comparison

GOLY's dividend yield for the trailing twelve months is around 9.62%, more than ENDW's 2.18% yield.

Position	TTM	2025	2024	2023	2022	2021
ENDW Cambria Endowment Style ETF	2.18%	1.91%	0.00%	0.00%	0.00%	0.00%
GOLY Strategy Shares Gold-Hedged Bond ETF	9.62%	7.22%	3.85%	2.94%	2.57%	1.11%

Frequently Asked Questions

Can I hold both GOLY and ENDW in my portfolio?

GOLY and ENDW have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOLY or ENDW?

GOLY has higher volatility (6.55%) compared to ENDW (2.66%). In terms of maximum drawdown, GOLY dropped -35.99% vs ENDW's -6.44%.

Which ETF is better, GOLY or ENDW?

On 1-year performance, ENDW leads with 28.01% vs 3.79% for GOLY. On fees, ENDW is cheaper at 0.29% per year. On volatility, ENDW has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOLY or ENDW?

Over the 1-year period, ENDW has performed better with a 28.01% return vs 3.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOLY or ENDW?

ENDW is cheaper with a 0.29% expense ratio, compared with 0.79% for GOLY.

Which ETF pays a higher dividend yield, GOLY or ENDW?

GOLY has the higher dividend yield at 9.62%, compared with 2.18% for ENDW.

What is the main difference between GOLY and ENDW?

GOLY is categorized as Nontraditional Bonds, while ENDW is Global Allocation. They also come from different issuers: Strategy Shares and Cambria. Their fees differ too: 0.79% for GOLY and 0.29% for ENDW.

Which has better risk-adjusted returns?

ENDW currently has the higher Sharpe Ratio (2.78 vs 0.12), 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.