MAIN vs. GLDI
MAIN (Main Street Capital Corporation) is a stock, while GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) is Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Over the past 10 years, MAIN returned 13.19%/yr vs 8.20%/yr for GLDI. At a 0.05 correlation, their price movements are largely independent.
Performance
MAIN vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, MAIN achieves a -10.97% return, which is significantly lower than GLDI's -2.64% return. Over the past 10 years, MAIN has outperformed GLDI with an annualized return of 13.19%, while GLDI has yielded a comparatively lower 8.20% annualized return.
MAIN
- 1D
- 0.54%
- 1M
- 3.14%
- YTD
- -10.97%
- 6M
- -12.92%
- 1Y
- -3.16%
- 3Y*
- 18.74%
- 5Y*
- 12.76%
- 10Y*
- 13.19%
GLDI
- 1D
- 0.42%
- 1M
- -6.86%
- YTD
- -2.64%
- 6M
- -2.08%
- 1Y
- 13.60%
- 3Y*
- 17.80%
- 5Y*
- 10.20%
- 10Y*
- 8.20%
MAIN vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAIN Main Street Capital Corporation | -10.97% | 10.74% | 47.30% | 28.22% | -11.37% | 48.31% | -19.54% | 36.88% | -8.27% | 16.62% |
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | -2.64% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
Correlation
The correlation between MAIN and GLDI is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013 | 0.05 |
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Return for Risk
MAIN vs. GLDI — Risk / Return Rank
MAIN
GLDI
MAIN vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Main Street Capital Corporation (MAIN) and Credit Suisse X-Links Gold Shares Covered Call ETN (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.
| MAIN | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.20 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 1.05 | -1.23 |
| Martin ratioReturn relative to average drawdown | -0.35 | 3.77 | -4.13 |
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Drawdowns
MAIN vs. GLDI - Drawdown Comparison
The maximum MAIN drawdown since its inception was -64.53%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for MAIN and GLDI.
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Drawdown Indicators
| MAIN | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.53% | -32.26% | -32.27% |
Max Drawdown (1Y)Largest decline over 1 year | -22.43% | -14.14% | -8.29% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -14.14% | -8.29% |
Max Drawdown (5Y)Largest decline over 5 years | -27.06% | -14.14% | -12.92% |
Max Drawdown (10Y)Largest decline over 10 years | -64.53% | -14.94% | -49.59% |
Current DrawdownCurrent decline from peak | -18.28% | -11.63% | -6.65% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -13.99% | +6.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.18% | 3.94% | +7.24% |
Volatility
MAIN vs. GLDI - Volatility Comparison
The current volatility for Main Street Capital Corporation (MAIN) is 5.82%, while Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a volatility of 6.70%. This indicates that MAIN 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
| MAIN | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.82% | 6.70% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 20.12% | 14.24% | +5.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.84% | 15.75% | +9.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.57% | 11.61% | +9.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.30% | 11.50% | +15.80% |
Dividends
MAIN vs. GLDI - Dividend Comparison
MAIN's dividend yield for the trailing twelve months is around 8.25%, less than GLDI's 23.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 23.45% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
MAIN Main Street Capital Corporation | 8.25% | 7.00% | 7.02% | 8.55% | 7.97% | 5.74% | 6.99% | 6.76% | 8.43% | 7.49% | 7.42% | 9.15% |
Frequently Asked Questions
MAIN and GLDI have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDI has higher volatility (6.70%) compared to MAIN (5.82%). In terms of maximum drawdown, MAIN dropped -64.53% vs GLDI's -32.26%.
GLDI currently has the higher Sharpe Ratio (0.95 vs -0.16), 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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