HYBI vs. GOLY

Last updated Jun 26, 2026

HYBI (NEOS Enhanced Income Credit Select ETF) and GOLY (Strategy Shares Gold-Hedged Bond ETF) are both Nontraditional Bonds funds. HYBI is actively managed, while GOLY is passively managed. Over the past year, HYBI returned 6.27% vs -7.98% for GOLY. At a 0.33 correlation, their price movements are largely independent. HYBI charges 0.68%/yr vs 0.79%/yr for GOLY.

Performance

HYBI vs. GOLY - Performance Comparison

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

Returns By Period

In the year-to-date period, HYBI achieves a 1.72% return, which is significantly higher than GOLY's -26.33% return.

HYBI

• 1D: 0.09%
• 1M: 0.21%
• YTD: 1.72%
• 6M: 1.74%
• 1Y: 6.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GOLY

• 1D: 0.84%
• 1M: -10.09%
• YTD: -26.33%
• 6M: -28.77%
• 1Y: -7.98%
• 3Y*: 14.36%
• 5Y*: 5.25%
• 10Y*: —

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

HYBI vs. GOLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	1.72%	6.97%	-0.53%
GOLY Strategy Shares Gold-Hedged Bond ETF	-26.33%	57.98%	-5.90%

Correlation

The correlation between HYBI and GOLY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 30, 2024	0.33

Return for Risk

HYBI vs. GOLY — Risk / Return Rank

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

HYBI

HYBI Risk / Return Rank: 76
HYBI Sharpe Ratio Rank: 67
HYBI Sortino Ratio Rank: 74
HYBI Omega Ratio Rank: 71
HYBI Calmar Ratio Rank: 88
HYBI Martin Ratio Rank: 82

GOLY

GOLY Risk / Return Rank: 7
GOLY Sharpe Ratio Rank: 7
GOLY Sortino Ratio Rank: 7
GOLY Omega Ratio Rank: 7
GOLY Calmar Ratio Rank: 7
GOLY Martin Ratio Rank: 7

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.

HYBI vs. GOLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income Credit Select ETF (HYBI) and Strategy Shares Gold-Hedged Bond ETF (GOLY). 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.

	HYBI	GOLY	Difference
Sharpe ratio: Return per unit of total volatility	1.88	-0.24	+2.12
Sortino ratio: Return per unit of downside risk	2.87	-0.09	+2.96
Omega ratio: Gain probability vs. loss probability	1.36	0.99	+0.38
Calmar ratio: Return relative to maximum drawdown	4.41	-0.22	+4.63
Martin ratio: Return relative to average drawdown	14.13	-0.52	+14.65

HYBI vs. GOLY - Sharpe Ratio Comparison

The current HYBI Sharpe Ratio is 1.88, which is higher than the GOLY Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of HYBI and GOLY, 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

HYBI vs. GOLY - Drawdown Comparison

The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum GOLY drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for HYBI and GOLY.

Drawdown Indicators

	HYBI	GOLY	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-36.97%	+32.29%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	-36.97%	+35.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-36.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.97%	—
Current Drawdown Current decline from peak	-0.24%	-36.44%	+36.20%
Average Drawdown Average peak-to-trough decline	-0.61%	-12.10%	+11.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	15.33%	-14.89%

Volatility

HYBI vs. GOLY - Volatility Comparison

The current volatility for NEOS Enhanced Income Credit Select ETF (HYBI) is 1.27%, while Strategy Shares Gold-Hedged Bond ETF (GOLY) has a volatility of 9.74%. This indicates that HYBI experiences smaller price fluctuations and is considered to be less risky than GOLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBI	GOLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	9.74%	-8.47%
Volatility (6M) Calculated over the trailing 6-month period	2.35%	30.59%	-28.24%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	33.84%	-30.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.93%	22.61%	-17.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.93%	22.44%	-17.51%

HYBI vs. GOLY - Expense Ratio Comparison

HYBI has a 0.68% expense ratio, which is lower than GOLY's 0.79% expense ratio.

Dividends

HYBI vs. GOLY - Dividend Comparison

HYBI's dividend yield for the trailing twelve months is around 8.35%, less than GOLY's 9.99% yield.

Position	TTM	2025	2024	2023	2022	2021
GOLY Strategy Shares Gold-Hedged Bond ETF	9.99%	7.22%	3.85%	2.94%	2.57%	1.11%
HYBI NEOS Enhanced Income Credit Select ETF	8.35%	8.48%	2.21%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBI and GOLY in my portfolio?

HYBI and GOLY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYBI or GOLY?

GOLY has higher volatility (9.74%) compared to HYBI (1.27%). In terms of maximum drawdown, HYBI dropped -4.68% vs GOLY's -36.97%.

Which ETF is better, HYBI or GOLY?

On 1-year performance, HYBI leads with 6.27% vs -7.98% for GOLY. On fees, HYBI is cheaper at 0.68% per year. On volatility, HYBI has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYBI or GOLY?

Over the 1-year period, HYBI has performed better with a 6.27% return vs -7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYBI or GOLY?

HYBI is cheaper with a 0.68% expense ratio, compared with 0.79% for GOLY.

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

GOLY has the higher dividend yield at 9.99%, compared with 8.35% for HYBI.

What is the main difference between HYBI and GOLY?

They also come from different issuers: Neos and Strategy Shares. Their fees differ too: 0.68% for HYBI and 0.79% for GOLY.

Which has better risk-adjusted returns?

HYBI currently has the higher Sharpe Ratio (1.88 vs -0.24), 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.