GOLY vs. OBND

Last updated Apr 2, 2026

Compare and contrast key facts about Strategy Shares Gold-Hedged Bond ETF (GOLY) and SPDR Loomis Sayles Opportunistic Bond ETF (OBND).

GOLY and OBND 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. OBND is an actively managed fund by State Street. It was launched on Sep 27, 2021.

Performance

GOLY vs. OBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategy Shares Gold-Hedged Bond ETF (GOLY) and SPDR Loomis Sayles Opportunistic Bond ETF (OBND). The values are adjusted to include any dividend payments, if applicable.

GOLY vs. OBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GOLY Strategy Shares Gold-Hedged Bond ETF	-11.63%	57.98%	19.82%	12.74%	-19.96%	4.63%
OBND SPDR Loomis Sayles Opportunistic Bond ETF	-0.55%	7.85%	4.80%	9.47%	-11.24%	0.02%

Returns By Period

In the year-to-date period, GOLY achieves a -11.63% return, which is significantly lower than OBND's -0.55% return.

GOLY

• 1D: 3.57%
• 1M: -23.39%
• YTD: -11.63%
• 6M: -3.79%
• 1Y: 18.49%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

OBND

• 1D: 0.06%
• 1M: -1.48%
• YTD: -0.55%
• 6M: 0.38%
• 1Y: 5.21%
• 3Y*: 6.13%
• 5Y*: —
• 10Y*: —

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

GOLY vs. OBND - Expense Ratio Comparison

GOLY has a 0.79% expense ratio, which is higher than OBND's 0.55% expense ratio.

GOLY

Strategy Shares Gold-Hedged Bond ETF

OBND

SPDR Loomis Sayles Opportunistic Bond ETF

Return for Risk

GOLY vs. OBND — Risk / Return Rank

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

GOLY

GOLY Risk / Return Rank: 29
GOLY Sharpe Ratio Rank: 28
GOLY Sortino Ratio Rank: 29
GOLY Omega Ratio Rank: 30
GOLY Calmar Ratio Rank: 28
GOLY Martin Ratio Rank: 30

OBND

OBND Risk / Return Rank: 69
OBND Sharpe Ratio Rank: 74
OBND Sortino Ratio Rank: 75
OBND Omega Ratio Rank: 69
OBND Calmar Ratio Rank: 64
OBND Martin Ratio Rank: 63

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. OBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and SPDR Loomis Sayles Opportunistic Bond ETF (OBND). 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	OBND	Difference
Sharpe ratio Return per unit of total volatility	0.55	1.41	-0.86
Sortino ratio Return per unit of downside risk	0.90	2.01	-1.12
Omega ratio Gain probability vs. loss probability	1.13	1.27	-0.14
Calmar ratio Return relative to maximum drawdown	0.70	1.84	-1.14
Martin ratio Return relative to average drawdown	2.74	7.06	-4.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOLY vs. OBND - Sharpe Ratio Comparison

The current GOLY Sharpe Ratio is 0.55, which is lower than the OBND Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of GOLY and OBND, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GOLY	OBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	1.41	-0.86
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.42	-0.03

Correlation

The correlation between GOLY and OBND is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GOLY vs. OBND - Dividend Comparison

GOLY's dividend yield for the trailing twelve months is around 8.77%, more than OBND's 6.35% yield.

	TTM	2025	2024	2023	2022	2021
GOLY Strategy Shares Gold-Hedged Bond ETF	8.77%	7.22%	3.85%	2.94%	2.57%	1.11%
OBND SPDR Loomis Sayles Opportunistic Bond ETF	6.35%	6.26%	6.53%	6.01%	4.56%	0.55%

Drawdowns

GOLY vs. OBND - Drawdown Comparison

The maximum GOLY drawdown since its inception was -35.99%, which is greater than OBND's maximum drawdown of -15.86%. Use the drawdown chart below to compare losses from any high point for GOLY and OBND.

Drawdown Indicators

	GOLY	OBND	Difference
Max Drawdown Largest peak-to-trough decline	-35.99%	-15.86%	-20.13%
Max Drawdown (1Y) Largest decline over 1 year	-27.42%	-2.88%	-24.54%
Current Drawdown Current decline from peak	-23.75%	-1.79%	-21.96%
Average Drawdown Average peak-to-trough decline	-11.33%	-4.55%	-6.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.96%	0.75%	+6.21%

Volatility

GOLY vs. OBND - Volatility Comparison

Strategy Shares Gold-Hedged Bond ETF (GOLY) has a higher volatility of 13.29% compared to SPDR Loomis Sayles Opportunistic Bond ETF (OBND) at 1.84%. This indicates that GOLY's price experiences larger fluctuations and is considered to be riskier than OBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLY	OBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.29%	1.84%	+11.45%
Volatility (6M) Calculated over the trailing 6-month period	29.56%	2.45%	+27.11%
Volatility (1Y) Calculated over the trailing 1-year period	33.56%	3.71%	+29.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.95%	4.69%	+17.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.95%	4.69%	+17.26%