GOLY vs. QQQ

Last updated Jun 16, 2026

GOLY (Strategy Shares Gold-Hedged Bond ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - GOLY is a Nontraditional Bonds fund tracking the Solactive Gold-Backed Bond Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, GOLY returned 5.95%/yr vs 17.59%/yr for QQQ. At a 0.15 correlation, their price movements are largely independent. GOLY charges 0.79%/yr vs 0.18%/yr for QQQ.

Performance

GOLY vs. QQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, GOLY achieves a -20.76% return, which is significantly lower than QQQ's 21.26% return.

GOLY

• 1D: 2.90%
• 1M: -4.38%
• YTD: -20.76%
• 6M: -20.23%
• 1Y: -1.82%
• 3Y*: 16.55%
• 5Y*: 5.95%
• 10Y*: —

QQQ

• 1D: 3.14%
• 1M: 4.95%
• YTD: 21.26%
• 6M: 22.17%
• 1Y: 41.87%
• 3Y*: 27.20%
• 5Y*: 17.59%
• 10Y*: 22.31%

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

GOLY vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GOLY Strategy Shares Gold-Hedged Bond ETF	-20.76%	57.98%	19.82%	12.74%	-19.96%	-1.40%
QQQ Invesco QQQ ETF	21.26%	20.77%	25.58%	54.86%	-32.58%	23.07%

Correlation

The correlation between GOLY and QQQ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since May 18, 2021	0.15

Over the past year, GOLY and QQQ have become more correlated (0.37) than their long-term average of 0.15, meaning their price movements have been converging.

Return for Risk

GOLY vs. QQQ — Risk / Return Rank

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

GOLY

GOLY Risk / Return Rank: 9
GOLY Sharpe Ratio Rank: 9
GOLY Sortino Ratio Rank: 9
GOLY Omega Ratio Rank: 9
GOLY Calmar Ratio Rank: 9
GOLY Martin Ratio Rank: 9

QQQ

QQQ Risk / Return Rank: 79
QQQ Sharpe Ratio Rank: 84
QQQ Sortino Ratio Rank: 79
QQQ Omega Ratio Rank: 81
QQQ Calmar Ratio Rank: 76
QQQ Martin Ratio Rank: 76

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GOLY) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	2.42	-2.47
Sortino ratio: Return per unit of downside risk	0.15	3.12	-2.97
Omega ratio: Gain probability vs. loss probability	1.02	1.42	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.05	3.52	-3.57
Martin ratio: Return relative to average drawdown	-0.13	13.12	-13.25

GOLY vs. QQQ - Sharpe Ratio Comparison

The current GOLY Sharpe Ratio is -0.05, which is lower than the QQQ Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of GOLY and QQQ, 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. QQQ - Drawdown Comparison

The maximum GOLY drawdown since its inception was -36.08%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for GOLY and QQQ.

Drawdown Indicators

	GOLY	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-36.08%	-82.97%	+46.89%
Max Drawdown (1Y) Largest decline over 1 year	-36.08%	-11.96%	-24.12%
Max Drawdown (3Y) Largest decline over 3 years	-36.08%	-22.77%	-13.31%
Max Drawdown (5Y) Largest decline over 5 years	-36.08%	-35.12%	-0.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-31.62%	-0.29%	-31.33%
Average Drawdown Average peak-to-trough decline	-11.98%	-32.75%	+20.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.24%	3.20%	+11.04%

Volatility

GOLY vs. QQQ - Volatility Comparison

Strategy Shares Gold-Hedged Bond ETF (GOLY) has a higher volatility of 9.83% compared to Invesco QQQ ETF (QQQ) at 8.14%. This indicates that GOLY's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLY	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.83%	8.14%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	30.46%	14.12%	+16.34%
Volatility (1Y) Calculated over the trailing 1-year period	33.73%	17.43%	+16.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	22.59%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	22.41%	0.00%

GOLY vs. QQQ - Expense Ratio Comparison

GOLY has a 0.79% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

GOLY vs. QQQ - Dividend Comparison

GOLY's dividend yield for the trailing twelve months is around 9.29%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOLY Strategy Shares Gold-Hedged Bond ETF	9.29%	7.22%	3.85%	2.94%	2.57%	1.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both GOLY and QQQ in my portfolio?

GOLY and QQQ have a correlation of 0.37, 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 QQQ?

GOLY has higher volatility (9.83%) compared to QQQ (8.14%). In terms of maximum drawdown, GOLY dropped -36.08% vs QQQ's -82.97%.

Which ETF is better, GOLY or QQQ?

On 5-year performance, QQQ leads with 17.59% vs 5.95% for GOLY. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOLY or QQQ?

Over the 5-year period, QQQ has performed better with a 17.59% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOLY or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.79% for GOLY.

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

GOLY has the higher dividend yield at 9.29%, compared with 0.38% for QQQ.

What is the main difference between GOLY and QQQ?

GOLY is categorized as Nontraditional Bonds, while QQQ is Nasdaq-100. GOLY tracks Solactive Gold-Backed Bond Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Strategy Shares and Invesco. Their fees differ too: 0.79% for GOLY and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.42 vs -0.05), 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.