GOLY vs. ENFR
GOLY (Strategy Shares Gold-Hedged Bond ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - GOLY is a Nontraditional Bonds fund tracking the Solactive Gold-Backed Bond Index, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. Both are passively managed. Over the past 5 years, GOLY returned 5.95%/yr vs 19.69%/yr for ENFR. At a 0.13 correlation, their price movements are largely independent. GOLY charges 0.79%/yr vs 0.35%/yr for ENFR.
Performance
GOLY vs. ENFR - Performance Comparison
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Returns By Period
In the year-to-date period, GOLY achieves a -23.60% return, which is significantly lower than ENFR's 23.07% return.
GOLY
- 1D
- -1.22%
- 1M
- -6.92%
- YTD
- -23.60%
- 6M
- -25.65%
- 1Y
- -6.67%
- 3Y*
- 15.85%
- 5Y*
- 5.95%
- 10Y*
- —
ENFR
- 1D
- 1.01%
- 1M
- -5.94%
- YTD
- 23.07%
- 6M
- 24.76%
- 1Y
- 24.84%
- 3Y*
- 28.26%
- 5Y*
- 19.69%
- 10Y*
- 11.81%
GOLY vs. ENFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GOLY Strategy Shares Gold-Hedged Bond ETF | -23.60% | 57.98% | 19.82% | 12.74% | -19.96% | -1.40% |
ENFR Alerian Energy Infrastructure ETF | 23.07% | 5.88% | 42.17% | 15.63% | 17.48% | 2.21% |
Correlation
The correlation between GOLY and ENFR is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 18, 2021 | 0.13 |
The correlation between GOLY and ENFR shifts across timeframes, from -0.12 (1 year) to 0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GOLY vs. ENFR — Risk / Return Rank
GOLY
ENFR
GOLY vs. ENFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and Alerian Energy Infrastructure ETF (ENFR). 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.
| GOLY | ENFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.29 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 2.89 | -3.07 |
| Martin ratioReturn relative to average drawdown | -0.45 | 7.40 | -7.85 |
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Drawdowns
GOLY vs. ENFR - Drawdown Comparison
The maximum GOLY drawdown since its inception was -36.08%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for GOLY and ENFR.
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Drawdown Indicators
| GOLY | ENFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.08% | -68.28% | +32.20% |
Max Drawdown (1Y)Largest decline over 1 year | -36.08% | -8.64% | -27.44% |
Max Drawdown (3Y)Largest decline over 3 years | -36.08% | -15.58% | -20.50% |
Max Drawdown (5Y)Largest decline over 5 years | -36.08% | -20.29% | -15.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.64% | — |
Current DrawdownCurrent decline from peak | -34.08% | -6.12% | -27.96% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -15.94% | +3.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.83% | 3.36% | +11.47% |
Volatility
GOLY vs. ENFR - Volatility Comparison
Strategy Shares Gold-Hedged Bond ETF (GOLY) has a higher volatility of 9.29% compared to Alerian Energy Infrastructure ETF (ENFR) at 5.42%. This indicates that GOLY's price experiences larger fluctuations and is considered to be riskier than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOLY | ENFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.29% | 5.42% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 30.54% | 11.57% | +18.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.81% | 14.82% | +18.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.56% | 19.24% | +3.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.41% | 24.68% | -2.27% |
GOLY vs. ENFR - Expense Ratio Comparison
GOLY has a 0.79% expense ratio, which is higher than ENFR's 0.35% expense ratio.
Dividends
GOLY vs. ENFR - Dividend Comparison
GOLY's dividend yield for the trailing twelve months is around 9.64%, more than ENFR's 4.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 4.08% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
GOLY Strategy Shares Gold-Hedged Bond ETF | 9.64% | 7.22% | 3.85% | 2.94% | 2.57% | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOLY and ENFR have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOLY has higher volatility (9.29%) compared to ENFR (5.42%). In terms of maximum drawdown, GOLY dropped -36.08% vs ENFR's -68.28%.
On 5-year performance, ENFR leads with 19.69% vs 5.95% for GOLY. On fees, ENFR is cheaper at 0.35% per year. On volatility, ENFR has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ENFR has performed better with a 19.69% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ENFR is cheaper with a 0.35% expense ratio, compared with 0.79% for GOLY.
GOLY has the higher dividend yield at 9.64%, compared with 4.08% for ENFR.
GOLY is categorized as Nontraditional Bonds, while ENFR is Energy Equities. GOLY tracks Solactive Gold-Backed Bond Index, while ENFR tracks Alerian Midstream Energy Select Index. They also come from different issuers: Strategy Shares and SS&C. Their fees differ too: 0.79% for GOLY and 0.35% for ENFR.
ENFR currently has the higher Sharpe Ratio (1.69 vs -0.20), 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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