GOLY vs. ICVT
Compare and contrast key facts about Strategy Shares Gold-Hedged Bond ETF (GOLY) and iShares Convertible Bond ETF (ICVT).
GOLY and ICVT 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. ICVT is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. It was launched on Jun 2, 2015. Both GOLY and ICVT 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. ICVT - Performance Comparison
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GOLY vs. ICVT - 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% |
ICVT iShares Convertible Bond ETF | 3.58% | 18.10% | 10.61% | 15.35% | -20.66% | 0.70% |
Returns By Period
In the year-to-date period, GOLY achieves a -14.67% return, which is significantly lower than ICVT's 3.58% return.
GOLY
- 1D
- 1.45%
- 1M
- -26.37%
- YTD
- -14.67%
- 6M
- -7.13%
- 1Y
- 14.96%
- 3Y*
- 18.13%
- 5Y*
- —
- 10Y*
- —
ICVT
- 1D
- 2.66%
- 1M
- -2.73%
- YTD
- 3.58%
- 6M
- 2.56%
- 1Y
- 23.90%
- 3Y*
- 14.18%
- 5Y*
- 3.55%
- 10Y*
- 12.24%
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GOLY vs. ICVT - Expense Ratio Comparison
GOLY has a 0.79% expense ratio, which is higher than ICVT's 0.20% expense ratio.
Return for Risk
GOLY vs. ICVT — Risk / Return Rank
GOLY
ICVT
GOLY vs. ICVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and iShares Convertible Bond ETF (ICVT). 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 | ICVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.45 | 1.71 | -1.26 |
Sortino ratioReturn per unit of downside risk | 0.77 | 2.33 | -1.55 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.32 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | 0.61 | 3.10 | -2.49 |
Martin ratioReturn relative to average drawdown | 2.44 | 10.57 | -8.13 |
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 | ICVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 1.71 | -1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.27 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.67 | -0.31 |
Correlation
The correlation between GOLY and ICVT is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GOLY vs. ICVT - Dividend Comparison
GOLY's dividend yield for the trailing twelve months is around 9.09%, more than ICVT's 1.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOLY Strategy Shares Gold-Hedged Bond ETF | 9.09% | 7.22% | 3.85% | 2.94% | 2.57% | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICVT iShares Convertible Bond ETF | 1.62% | 1.73% | 2.19% | 1.85% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% |
Drawdowns
GOLY vs. ICVT - Drawdown Comparison
The maximum GOLY drawdown since its inception was -35.99%, which is greater than ICVT's maximum drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for GOLY and ICVT.
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Drawdown Indicators
| GOLY | ICVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.99% | -33.25% | -2.74% |
Max Drawdown (1Y)Largest decline over 1 year | -27.42% | -7.55% | -19.87% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.25% | — |
Current DrawdownCurrent decline from peak | -26.37% | -3.67% | -22.70% |
Average DrawdownAverage peak-to-trough decline | -11.32% | -9.64% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.80% | 2.21% | +4.59% |
Volatility
GOLY vs. ICVT - Volatility Comparison
Strategy Shares Gold-Hedged Bond ETF (GOLY) has a higher volatility of 13.19% compared to iShares Convertible Bond ETF (ICVT) at 6.74%. This indicates that GOLY's price experiences larger fluctuations and is considered to be riskier than ICVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOLY | ICVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.19% | 6.74% | +6.45% |
Volatility (6M)Calculated over the trailing 6-month period | 29.34% | 11.65% | +17.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.41% | 14.02% | +19.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.90% | 13.20% | +8.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 15.54% | +6.36% |