GOLY vs. GLD
Compare and contrast key facts about Strategy Shares Gold-Hedged Bond ETF (GOLY) and SPDR Gold Shares (GLD).
GOLY and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GOLY is a passively managed fund by Strategy Shares that tracks the performance of the Solactive Gold-Backed Bond Index. It was launched on May 17, 2021. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004. Both GOLY and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GOLY vs. GLD - Performance Comparison
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GOLY vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GOLY Strategy Shares Gold-Hedged Bond ETF | -14.67% | 57.98% | 19.82% | 12.74% | -19.96% | -1.30% |
GLD SPDR Gold Shares | 8.57% | 63.68% | 26.66% | 12.69% | -0.77% | -2.33% |
Returns By Period
In the year-to-date period, GOLY achieves a -14.67% return, which is significantly lower than GLD's 8.57% return.
GOLY
- 1D
- 1.45%
- 1M
- -26.37%
- YTD
- -14.67%
- 6M
- -7.13%
- 1Y
- 14.96%
- 3Y*
- 18.13%
- 5Y*
- —
- 10Y*
- —
GLD
- 1D
- 3.79%
- 1M
- -11.05%
- YTD
- 8.57%
- 6M
- 21.05%
- 1Y
- 49.33%
- 3Y*
- 32.92%
- 5Y*
- 21.58%
- 10Y*
- 13.92%
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GOLY vs. GLD - Expense Ratio Comparison
GOLY has a 0.79% expense ratio, which is higher than GLD's 0.40% expense ratio.
Return for Risk
GOLY vs. GLD — Risk / Return Rank
GOLY
GLD
GOLY vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.45 | 1.79 | -1.34 |
Sortino ratioReturn per unit of downside risk | 0.77 | 2.21 | -1.44 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.33 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 0.61 | 2.68 | -2.07 |
Martin ratioReturn relative to average drawdown | 2.44 | 9.90 | -7.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GOLY | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 1.79 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.22 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.62 | -0.27 |
Correlation
The correlation between GOLY and GLD is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GOLY vs. GLD - Dividend Comparison
GOLY's dividend yield for the trailing twelve months is around 9.09%, while GLD has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GOLY Strategy Shares Gold-Hedged Bond ETF | 9.09% | 7.22% | 3.85% | 2.94% | 2.57% | 1.11% |
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GOLY vs. GLD - Drawdown Comparison
The maximum GOLY drawdown since its inception was -35.99%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for GOLY and GLD.
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Drawdown Indicators
| GOLY | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.99% | -45.56% | +9.57% |
Max Drawdown (1Y)Largest decline over 1 year | -27.42% | -19.21% | -8.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.00% | — |
Current DrawdownCurrent decline from peak | -26.37% | -13.23% | -13.14% |
Average DrawdownAverage peak-to-trough decline | -11.32% | -16.17% | +4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.80% | 5.20% | +1.60% |
Volatility
GOLY vs. GLD - Volatility Comparison
Strategy Shares Gold-Hedged Bond ETF (GOLY) has a higher volatility of 13.19% compared to SPDR Gold Shares (GLD) at 11.06%. This indicates that GOLY's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOLY | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.19% | 11.06% | +2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 29.34% | 24.30% | +5.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.41% | 27.80% | +5.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.90% | 17.74% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 15.87% | +6.03% |