GOLY vs. EPU
GOLY (Strategy Shares Gold-Hedged Bond ETF) and EPU (iShares MSCI Peru ETF) are both exchange-traded funds - GOLY is a Nontraditional Bonds fund tracking the Solactive Gold-Backed Bond Index, while EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index. Both are passively managed. Over the past 5 years, GOLY returned 5.95%/yr vs 30.02%/yr for EPU. At a 0.42 correlation, their price movements are largely independent. GOLY charges 0.79%/yr vs 0.59%/yr for EPU.
Performance
GOLY vs. EPU - Performance Comparison
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Returns By Period
In the year-to-date period, GOLY achieves a -20.76% return, which is significantly lower than EPU's 22.98% return.
GOLY
- 1D
- 2.90%
- 1M
- -4.38%
- YTD
- -20.76%
- 6M
- -20.23%
- 1Y
- -1.82%
- 3Y*
- 16.55%
- 5Y*
- 5.95%
- 10Y*
- —
EPU
- 1D
- 1.62%
- 1M
- 11.20%
- YTD
- 22.98%
- 6M
- 29.01%
- 1Y
- 88.50%
- 3Y*
- 46.17%
- 5Y*
- 30.02%
- 10Y*
- 15.10%
GOLY vs. EPU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GOLY Strategy Shares Gold-Hedged Bond ETF | -20.76% | 57.98% | 19.82% | 12.74% | -19.96% | -1.40% |
EPU iShares MSCI Peru ETF | 22.98% | 86.87% | 21.73% | 25.34% | 2.05% | -12.84% |
Correlation
The correlation between GOLY and EPU is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 18, 2021 | 0.42 |
Over the past year, GOLY and EPU have become more correlated (0.62) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
GOLY vs. EPU — Risk / Return Rank
GOLY
EPU
GOLY vs. EPU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and iShares MSCI Peru ETF (EPU). 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 | EPU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.92 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.45 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 4.27 | -4.32 |
| Martin ratioReturn relative to average drawdown | -0.13 | 12.29 | -12.42 |
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Drawdowns
GOLY vs. EPU - Drawdown Comparison
The maximum GOLY drawdown since its inception was -36.08%, smaller than the maximum EPU drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for GOLY and EPU.
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Drawdown Indicators
| GOLY | EPU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.08% | -60.62% | +24.54% |
Max Drawdown (1Y)Largest decline over 1 year | -36.08% | -20.85% | -15.23% |
Max Drawdown (3Y)Largest decline over 3 years | -36.08% | -20.85% | -15.23% |
Max Drawdown (5Y)Largest decline over 5 years | -36.08% | -35.59% | -0.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.97% | — |
Current DrawdownCurrent decline from peak | -31.62% | -5.18% | -26.44% |
Average DrawdownAverage peak-to-trough decline | -11.98% | -18.81% | +6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.24% | 7.22% | +7.02% |
Volatility
GOLY vs. EPU - Volatility Comparison
The current volatility for Strategy Shares Gold-Hedged Bond ETF (GOLY) is 9.83%, while iShares MSCI Peru ETF (EPU) has a volatility of 13.56%. This indicates that GOLY experiences smaller price fluctuations and is considered to be less risky than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOLY | EPU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.83% | 13.56% | -3.73% |
Volatility (6M)Calculated over the trailing 6-month period | 30.46% | 26.92% | +3.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.73% | 31.12% | +2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.57% | 25.09% | -2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.41% | 23.64% | -1.23% |
GOLY vs. EPU - Expense Ratio Comparison
GOLY has a 0.79% expense ratio, which is higher than EPU's 0.59% expense ratio.
Dividends
GOLY vs. EPU - Dividend Comparison
GOLY's dividend yield for the trailing twelve months is around 9.29%, more than EPU's 2.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPU iShares MSCI Peru ETF | 2.97% | 1.63% | 5.78% | 4.17% | 5.56% | 3.13% | 1.91% | 2.67% | 1.53% | 3.30% | 0.85% | 1.90% |
GOLY Strategy Shares Gold-Hedged Bond ETF | 9.29% | 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 EPU have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPU has higher volatility (13.56%) compared to GOLY (9.83%). In terms of maximum drawdown, GOLY dropped -36.08% vs EPU's -60.62%.
On 5-year performance, EPU leads with 30.02% vs 5.95% for GOLY. On fees, EPU is cheaper at 0.59% per year. On volatility, GOLY has been the lower-risk option at 9.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EPU has performed better with a 30.02% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPU is cheaper with a 0.59% expense ratio, compared with 0.79% for GOLY.
GOLY has the higher dividend yield at 9.29%, compared with 2.97% for EPU.
GOLY is categorized as Nontraditional Bonds, while EPU is Mid Cap Blend Equities. GOLY tracks Solactive Gold-Backed Bond Index, while EPU tracks MSCI All Peru Capped Index. They also come from different issuers: Strategy Shares and iShares. Their fees differ too: 0.79% for GOLY and 0.59% for EPU.
EPU currently has the higher Sharpe Ratio (2.87 vs -0.05), 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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