IFED vs. GLDI
IFED (ETRACS IFED Invest with the Fed TR Index ETN) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both exchange-traded funds - IFED is a Leveraged Equities fund tracking the IFED Large-Cap US Equity Index - Benchmark TR Gross, while GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 3 years, IFED returned 16.54%/yr vs 17.47%/yr for GLDI. At a 0.13 correlation, their price movements are largely independent. IFED charges 0.45%/yr vs 0.65%/yr for GLDI.
Performance
IFED vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, IFED achieves a -3.07% return, which is significantly higher than GLDI's -4.45% return.
IFED
- 1D
- -0.05%
- 1M
- 2.47%
- YTD
- -3.07%
- 6M
- -3.90%
- 1Y
- 2.52%
- 3Y*
- 16.54%
- 5Y*
- —
- 10Y*
- —
GLDI
- 1D
- -1.62%
- 1M
- -7.19%
- YTD
- -4.45%
- 6M
- -5.42%
- 1Y
- 11.67%
- 3Y*
- 17.47%
- 5Y*
- 10.96%
- 10Y*
- 7.83%
IFED vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.07% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.45% | 34.25% | 17.76% | 8.93% | -1.11% | 0.91% |
Correlation
The correlation between IFED and GLDI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.13 |
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Return for Risk
IFED vs. GLDI — Risk / Return Rank
IFED
GLDI
IFED vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS IFED Invest with the Fed TR Index ETN (IFED) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). 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.
| IFED | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.16 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.17 | 0.83 | -0.66 |
| Martin ratioReturn relative to average drawdown | 0.43 | 2.73 | -2.30 |
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Drawdowns
IFED vs. GLDI - Drawdown Comparison
The maximum IFED drawdown since its inception was -22.36%, smaller than the maximum GLDI drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for IFED and GLDI.
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Drawdown Indicators
| IFED | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.36% | -32.26% | +9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -14.65% | -14.14% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -22.36% | -14.14% | -8.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.94% | — |
Current DrawdownCurrent decline from peak | -5.05% | -13.28% | +8.23% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -13.99% | +8.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.88% | 4.30% | +1.58% |
Volatility
IFED vs. GLDI - Volatility Comparison
The current volatility for ETRACS IFED Invest with the Fed TR Index ETN (IFED) is 6.74%, while UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) has a volatility of 7.18%. This indicates that IFED experiences smaller price fluctuations and is considered to be less risky than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IFED | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 7.18% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 14.58% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.84% | 15.99% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.92% | 11.58% | +8.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.92% | 11.52% | +8.40% |
IFED vs. GLDI - Expense Ratio Comparison
IFED has a 0.45% expense ratio, which is lower than GLDI's 0.65% expense ratio.
Dividends
IFED vs. GLDI - Dividend Comparison
IFED has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 26.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.67% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IFED and GLDI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDI has higher volatility (7.18%) compared to IFED (6.74%). In terms of maximum drawdown, IFED dropped -22.36% vs GLDI's -32.26%.
On 3-year performance, GLDI leads with 17.47% vs 16.54% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 6.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GLDI has performed better with a 17.47% return vs 16.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.65% for GLDI.
GLDI has the higher dividend yield at 26.67%, compared with 0.00% for IFED.
IFED is categorized as Leveraged Equities, while GLDI is Gold. IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross, while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. Their fees differ too: 0.45% for IFED and 0.65% for GLDI.
GLDI currently has the higher Sharpe Ratio (0.73 vs 0.15), 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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