GOLY vs. GDE

Last updated Jun 23, 2026

GOLY (Strategy Shares Gold-Hedged Bond ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - GOLY is a Nontraditional Bonds fund tracking the Solactive Gold-Backed Bond Index, while GDE is a Gold fund actively managed by WisdomTree. GOLY is passively managed, while GDE is actively managed. Over the past 3 years, GOLY returned 15.85%/yr vs 42.34%/yr for GDE. A 0.65 correlation means they provide meaningful diversification when combined. GOLY charges 0.79%/yr vs 0.20%/yr for GDE.

Performance

GOLY vs. GDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategy Shares Gold-Hedged Bond ETF (GOLY) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOLY achieves a -23.60% return, which is significantly lower than GDE's 2.73% return.

GOLY

• 1D: -1.22%
• 1M: -6.92%
• YTD: -23.60%
• 6M: -25.65%
• 1Y: -6.67%
• 3Y*: 15.85%
• 5Y*: 5.95%
• 10Y*: —

GDE

• 1D: -1.07%
• 1M: -7.12%
• YTD: 2.73%
• 6M: -0.30%
• 1Y: 43.92%
• 3Y*: 42.34%
• 5Y*: —
• 10Y*: —

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

GOLY vs. GDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GOLY Strategy Shares Gold-Hedged Bond ETF	-23.60%	57.98%	19.82%	12.74%	-16.54%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	2.73%	73.76%	44.79%	33.85%	-8.58%

Correlation

The correlation between GOLY and GDE is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.65

The correlation between GOLY and GDE shifts across timeframes, from 0.65 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GOLY vs. GDE — Risk / Return Rank

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

GOLY

GOLY Risk / Return Rank: 7
GOLY Sharpe Ratio Rank: 7
GOLY Sortino Ratio Rank: 7
GOLY Omega Ratio Rank: 7
GOLY Calmar Ratio Rank: 7
GOLY Martin Ratio Rank: 7

GDE

GDE Risk / Return Rank: 40
GDE Sharpe Ratio Rank: 43
GDE Sortino Ratio Rank: 37
GDE Omega Ratio Rank: 43
GDE Calmar Ratio Rank: 40
GDE Martin Ratio Rank: 36

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. GDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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	GDE	Difference
Sharpe ratio: Return per unit of total volatility	-0.20	1.46	-1.66
Sortino ratio: Return per unit of downside risk	-0.04	1.88	-1.92
Omega ratio: Gain probability vs. loss probability	0.99	1.27	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.19	1.95	-2.13
Martin ratio: Return relative to average drawdown	-0.45	5.49	-5.94

GOLY vs. GDE - Sharpe Ratio Comparison

The current GOLY Sharpe Ratio is -0.20, which is lower than the GDE Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of GOLY and GDE, 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

GOLY vs. GDE - Drawdown Comparison

The maximum GOLY drawdown since its inception was -36.08%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for GOLY and GDE.

Drawdown Indicators

	GOLY	GDE	Difference
Max Drawdown Largest peak-to-trough decline	-36.08%	-32.01%	-4.07%
Max Drawdown (1Y) Largest decline over 1 year	-36.08%	-22.66%	-13.42%
Max Drawdown (3Y) Largest decline over 3 years	-36.08%	-22.66%	-13.42%
Max Drawdown (5Y) Largest decline over 5 years	-36.08%	—	—
Current Drawdown Current decline from peak	-34.08%	-16.89%	-17.19%
Average Drawdown Average peak-to-trough decline	-12.04%	-7.96%	-4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.83%	8.03%	+6.80%

Volatility

GOLY vs. GDE - Volatility Comparison

The current volatility for Strategy Shares Gold-Hedged Bond ETF (GOLY) is 9.29%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 11.06%. This indicates that GOLY experiences smaller price fluctuations and is considered to be less risky than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLY	GDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.29%	11.06%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	30.54%	26.33%	+4.21%
Volatility (1Y) Calculated over the trailing 1-year period	33.81%	30.21%	+3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.56%	27.12%	-4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	27.12%	-4.71%

GOLY vs. GDE - Expense Ratio Comparison

GOLY has a 0.79% expense ratio, which is higher than GDE's 0.20% expense ratio.

Dividends

GOLY vs. GDE - Dividend Comparison

GOLY's dividend yield for the trailing twelve months is around 9.64%, more than GDE's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.21%	4.32%	7.14%	2.22%	0.81%	0.00%
GOLY Strategy Shares Gold-Hedged Bond ETF	9.64%	7.22%	3.85%	2.94%	2.57%	1.11%

Frequently Asked Questions

Can I hold both GOLY and GDE in my portfolio?

GOLY and GDE have a correlation of 0.77, 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 GDE?

GDE has higher volatility (11.06%) compared to GOLY (9.29%). In terms of maximum drawdown, GOLY dropped -36.08% vs GDE's -32.01%.

Which ETF is better, GOLY or GDE?

On 3-year performance, GDE leads with 42.34% vs 15.85% for GOLY. On fees, GDE is cheaper at 0.20% per year. On volatility, GOLY has been the lower-risk option at 9.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOLY or GDE?

Over the 3-year period, GDE has performed better with a 42.34% return vs 15.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOLY or GDE?

GDE is cheaper with a 0.20% expense ratio, compared with 0.79% for GOLY.

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

GOLY has the higher dividend yield at 9.64%, compared with 4.21% for GDE.

What is the main difference between GOLY and GDE?

GOLY is categorized as Nontraditional Bonds, while GDE is Gold. They also come from different issuers: Strategy Shares and WisdomTree. Their fees differ too: 0.79% for GOLY and 0.20% for GDE.

Which has better risk-adjusted returns?

GDE currently has the higher Sharpe Ratio (1.46 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.