GOLY vs. GLD
GOLY (Strategy Shares Gold Enhanced Yield ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - GOLY is a Nontraditional Bonds fund actively managed by Strategy Shares, while GLD is a Gold fund tracking the LBMA Gold Price PM. GOLY is actively managed, while GLD is passively managed. Over the past 5 years, GOLY returned 4.37%/yr vs 16.95%/yr for GLD. Their correlation of 0.83 means they have usually moved in the same direction. GOLY charges 0.79%/yr vs 0.40%/yr for GLD.
Performance
GOLY vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, GOLY achieves a -26.54% return, which is significantly lower than GLD's -6.25% return.
GOLY
- 1D
- -0.68%
- 1M
- -2.80%
- 6M
- -24.07%
- YTD
- -26.54%
- 1Y
- -9.02%
- 3Y*
- 14.14%
- 5Y*
- 4.37%
- 10Y*
- —
- ALL TIME*
- 4.18%
GLD
- 1D
- -1.49%
- 1M
- -1.74%
- 6M
- -16.50%
- YTD
- -6.25%
- 1Y
- 20.20%
- 3Y*
- 27.22%
- 5Y*
- 16.95%
- 10Y*
- 11.05%
- ALL TIME*
- 10.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.38B | $2.40B | $2.72B | |
| $645.25K | $545.45K | $1.00M |
GOLY vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GOLY Strategy Shares Gold Enhanced Yield ETF | -26.54% | 57.98% | 19.82% | 12.74% | -19.96% | -1.40% |
GLD SPDR Gold Shares | -6.25% | 63.68% | 26.66% | 12.69% | -0.77% | -2.14% |
Correlation
The correlation between GOLY and GLD is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 18, 2021 | 0.83 |
The correlation between GOLY and GLD has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.
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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 Enhanced Yield 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.
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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.17 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | 0.86 | -1.01 |
| Martin ratioReturn relative to average drawdown | -0.30 | 1.86 | -2.16 |
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Drawdowns
GOLY vs. GLD - Drawdown Comparison
The maximum GOLY drawdown since its inception was -37.99%, 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 | -37.99% | -45.56% | +7.57% |
Max Drawdown (1Y)Largest decline over 1 year | -37.99% | -26.40% | -11.59% |
Max Drawdown (3Y)Largest decline over 3 years | -37.99% | -26.40% | -11.59% |
Max Drawdown (5Y)Largest decline over 5 years | -37.99% | -26.40% | -11.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.40% | — |
Current DrawdownCurrent decline from peak | -36.62% | -25.08% | -11.54% |
Average DrawdownAverage peak-to-trough decline | -12.56% | -16.21% | +3.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.14% | 12.18% | +6.96% |
Volatility
GOLY vs. GLD - Volatility Comparison
Strategy Shares Gold Enhanced Yield ETF (GOLY) has a higher volatility of 6.91% compared to SPDR Gold Shares (GLD) at 6.40%. 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 | 6.91% | 6.40% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 30.03% | 23.52% | +6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.02% | 28.13% | +5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.76% | 18.49% | +4.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.43% | 16.14% | +6.29% |
GOLY vs. GLD - Expense Ratio Comparison
GOLY has a 0.79% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
GOLY vs. GLD - Dividend Comparison
GOLY's dividend yield for the trailing twelve months is around 9.40%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GOLY Strategy Shares Gold Enhanced Yield ETF | 9.40% | 7.22% | 3.85% | 2.94% | 2.57% | 1.11% |
Frequently Asked Questions
GOLY and GLD have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOLY has higher volatility (6.91%) compared to GLD (6.40%). In terms of maximum drawdown, GOLY dropped -37.99% vs GLD's -45.56%.
On 5-year performance, GLD leads with 16.95% vs 4.37% for GOLY. On fees, GLD is cheaper at 0.40% per year. On volatility, GLD has been the lower-risk option at 6.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLD has performed better with a 16.95% return vs 4.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.79% for GOLY.
GOLY has the higher dividend yield at 9.40%, compared with 0.00% for GLD.
GOLY is categorized as Nontraditional Bonds, while GLD is Gold. They also come from different issuers: Strategy Shares and State Street. Their fees differ too: 0.79% for GOLY and 0.40% for GLD.
GLD currently has the higher Sharpe Ratio (0.81 vs -0.17), 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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