OBND vs. GLDB

Last updated Jun 26, 2026

OBND (SPDR Loomis Sayles Opportunistic Bond ETF) and GLDB (Strategy Shares Gold-Hedged Bond ETF) are both Nontraditional Bonds funds. OBND is actively managed, while GLDB is passively managed. At a 0.37 correlation, their price movements are largely independent. OBND charges 0.55%/yr vs 0.79%/yr for GLDB.

Performance

OBND vs. GLDB - Performance Comparison

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

Returns By Period

In the year-to-date period, OBND achieves a 1.76% return, which is significantly higher than GLDB's -22.16% return.

OBND

• 1D: 0.17%
• 1M: 0.59%
• YTD: 1.76%
• 6M: 1.60%
• 1Y: 5.78%
• 3Y*: 6.91%
• 5Y*: —
• 10Y*: —

GLDB

• 1D: 0.40%
• 1M: -20.84%
• YTD: -22.16%
• 6M: -23.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OBND vs. GLDB - Yearly Performance Comparison

	2026 (YTD)	2025
OBND SPDR Loomis Sayles Opportunistic Bond ETF	1.76%	0.55%
GLDB Strategy Shares Gold-Hedged Bond ETF	-22.16%	-3.56%

Correlation

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

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.37

Return for Risk

OBND vs. GLDB — Risk / Return Rank

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

OBND

OBND Risk / Return Rank: 54
OBND Sharpe Ratio Rank: 56
OBND Sortino Ratio Rank: 59
OBND Omega Ratio Rank: 57
OBND Calmar Ratio Rank: 44
OBND Martin Ratio Rank: 56

GLDB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

OBND vs. GLDB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Loomis Sayles Opportunistic Bond ETF (OBND) and Strategy Shares Gold-Hedged Bond ETF (GLDB). 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.

	OBND	GLDB	Difference
Sharpe ratio: Return per unit of total volatility	1.67	—	—
Sortino ratio: Return per unit of downside risk	2.48	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.01	—	—
Martin ratio: Return relative to average drawdown	8.75	—	—

Drawdowns

OBND vs. GLDB - Drawdown Comparison

The maximum OBND drawdown since its inception was -15.86%, smaller than the maximum GLDB drawdown of -38.30%. Use the drawdown chart below to compare losses from any high point for OBND and GLDB.

Drawdown Indicators

	OBND	GLDB	Difference
Max Drawdown Largest peak-to-trough decline	-15.86%	-38.30%	+22.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.17%	—	—
Current Drawdown Current decline from peak	0.00%	-38.05%	+38.05%
Average Drawdown Average peak-to-trough decline	-4.35%	-15.04%	+10.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	—	—

Volatility

Volatility by Period

	OBND	GLDB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	40.36%	-36.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.65%	40.36%	-35.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.65%	40.36%	-35.71%

OBND vs. GLDB - Expense Ratio Comparison

OBND has a 0.55% expense ratio, which is lower than GLDB's 0.79% expense ratio.

Dividends

OBND vs. GLDB - Dividend Comparison

OBND's dividend yield for the trailing twelve months is around 6.25%, more than GLDB's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021
GLDB Strategy Shares Gold-Hedged Bond ETF	0.24%	0.19%	0.00%	0.00%	0.00%	0.00%
OBND SPDR Loomis Sayles Opportunistic Bond ETF	6.25%	6.26%	6.53%	6.01%	4.56%	0.55%

Frequently Asked Questions

Can I hold both OBND and GLDB in my portfolio?

OBND and GLDB 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 ETF is better, OBND or GLDB?

On fees, OBND is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OBND or GLDB?

OBND is cheaper with a 0.55% expense ratio, compared with 0.79% for GLDB.

Which ETF pays a higher dividend yield, OBND or GLDB?

OBND has the higher dividend yield at 6.25%, compared with 0.24% for GLDB.

What is the main difference between OBND and GLDB?

They also come from different issuers: State Street and Strategy Shares. Their fees differ too: 0.55% for OBND and 0.79% for GLDB.