OKLS vs. GLDY

Last updated Jun 27, 2026

OKLS (Defiance Daily Target 2X Short OKLO ETF) and GLDY (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - OKLS is a Inverse Equities fund actively managed by Defiance, while GLDY is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a correlation of -0.26, they often move in opposite directions. OKLS charges 1.31%/yr vs 0.99%/yr for GLDY.

Performance

OKLS vs. GLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short OKLO ETF (OKLS) and Defiance Gold Enhanced Options Income ETF (GLDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OKLS achieves a -57.45% return, which is significantly lower than GLDY's -10.12% return.

OKLS

• 1D: 3.84%
• 1M: 50.03%
• YTD: -57.45%
• 6M: -51.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDY

• 1D: 0.87%
• 1M: -7.71%
• YTD: -10.12%
• 6M: -13.68%
• 1Y: 3.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OKLS vs. GLDY - Yearly Performance Comparison

	2026 (YTD)	2025
OKLS Defiance Daily Target 2X Short OKLO ETF	-57.45%	12.18%
GLDY Defiance Gold Enhanced Options Income ETF	-10.12%	3.78%

Correlation

The correlation between OKLS and GLDY is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	-0.26

Return for Risk

OKLS vs. GLDY — Risk / Return Rank

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

OKLS

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

GLDY

GLDY Risk / Return Rank: 11
GLDY Sharpe Ratio Rank: 11
GLDY Sortino Ratio Rank: 10
GLDY Omega Ratio Rank: 11
GLDY Calmar Ratio Rank: 10
GLDY Martin Ratio Rank: 11

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.

OKLS vs. GLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short OKLO ETF (OKLS) and Defiance Gold Enhanced Options Income ETF (GLDY). 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.

	OKLS	GLDY	Difference
Sharpe ratio: Return per unit of total volatility	—	0.13	—
Sortino ratio: Return per unit of downside risk	—	0.33	—
Omega ratio: Gain probability vs. loss probability	—	1.05	—
Calmar ratio: Return relative to maximum drawdown	—	0.13	—
Martin ratio: Return relative to average drawdown	—	0.45	—

Drawdowns

OKLS vs. GLDY - Drawdown Comparison

The maximum OKLS drawdown since its inception was -81.03%, which is greater than GLDY's maximum drawdown of -25.90%. Use the drawdown chart below to compare losses from any high point for OKLS and GLDY.

Drawdown Indicators

	OKLS	GLDY	Difference
Max Drawdown Largest peak-to-trough decline	-81.03%	-25.90%	-55.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.90%	—
Current Drawdown Current decline from peak	-65.31%	-20.08%	-45.23%
Average Drawdown Average peak-to-trough decline	-42.29%	-4.63%	-37.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.27%	—

Volatility

Volatility by Period

	OKLS	GLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	195.27%	24.80%	+170.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	195.27%	23.37%	+171.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	195.27%	23.37%	+171.90%

OKLS vs. GLDY - Expense Ratio Comparison

OKLS has a 1.31% expense ratio, which is higher than GLDY's 0.99% expense ratio.

Dividends

OKLS vs. GLDY - Dividend Comparison

OKLS has not paid dividends to shareholders, while GLDY's dividend yield for the trailing twelve months is around 52.07%.

Position	TTM	2025
GLDY Defiance Gold Enhanced Options Income ETF	52.07%	37.38%
OKLS Defiance Daily Target 2X Short OKLO ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both OKLS and GLDY in my portfolio?

OKLS and GLDY have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OKLS or GLDY?

On fees, GLDY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OKLS or GLDY?

GLDY is cheaper with a 0.99% expense ratio, compared with 1.31% for OKLS.

Which ETF pays a higher dividend yield, OKLS or GLDY?

GLDY has the higher dividend yield at 52.07%, compared with 0.00% for OKLS.

What is the main difference between OKLS and GLDY?

OKLS is categorized as Inverse Equities, while GLDY is Derivative Income. Their fees differ too: 1.31% for OKLS and 0.99% for GLDY.