RCAX vs. GLDY

Last updated Jun 6, 2026

RCAX (Defiance Daily Target 2X Long RCAT ETF) and GLDY (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - RCAX is a Leveraged Equities fund tracking the Red Cat Holdings, Inc. (RCAT), while GLDY is a Derivative Income fund actively managed by Defiance. RCAX is passively managed, while GLDY is actively managed. At a 0.24 correlation, their price movements are largely independent. RCAX charges 1.31%/yr vs 0.99%/yr for GLDY.

Performance

RCAX vs. GLDY - Performance Comparison

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

Returns By Period

RCAX

• 1D: -28.03%
• 1M: 16.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDY

• 1D: -3.20%
• 1M: -6.81%
• YTD: -5.06%
• 6M: -3.13%
• 1Y: 10.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RCAX vs. GLDY - Yearly Performance Comparison

	2026 (YTD)
RCAX Defiance Daily Target 2X Long RCAT ETF	-56.40%
GLDY Defiance Gold Enhanced Options Income ETF	-8.20%

Correlation

The correlation between RCAX and GLDY is 0.24, 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 Feb 4, 2026	0.24

Return for Risk

RCAX vs. GLDY — Risk / Return Rank

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

GLDY

GLDY Risk / Return Rank: 18
GLDY Sharpe Ratio Rank: 18
GLDY Sortino Ratio Rank: 16
GLDY Omega Ratio Rank: 20
GLDY Calmar Ratio Rank: 18
GLDY Martin Ratio Rank: 18

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.

RCAX vs. GLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RCAT ETF (RCAX) 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.

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

Sharpe Ratios by Period

	RCAX	GLDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.37	0.41	-0.79

Drawdowns

RCAX vs. GLDY - Drawdown Comparison

The maximum RCAX drawdown since its inception was -81.30%, which is greater than GLDY's maximum drawdown of -15.57%. Use the drawdown chart below to compare losses from any high point for RCAX and GLDY.

Drawdown Indicators

	RCAX	GLDY	Difference
Max Drawdown Largest peak-to-trough decline	-81.30%	-15.57%	-65.73%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.57%	—
Current Drawdown Current decline from peak	-63.85%	-15.57%	-48.28%
Average Drawdown Average peak-to-trough decline	-44.08%	-3.98%	-40.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.75%	—

Volatility

Volatility by Period

	RCAX	GLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.94%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	245.47%	20.12%	+225.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	245.47%	19.75%	+225.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	245.47%	19.75%	+225.72%

RCAX vs. GLDY - Expense Ratio Comparison

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

Dividends

RCAX vs. GLDY - Dividend Comparison

RCAX has not paid dividends to shareholders, while GLDY's dividend yield for the trailing twelve months is around 48.65%.

Position	TTM	2025
GLDY Defiance Gold Enhanced Options Income ETF	48.65%	37.38%
RCAX Defiance Daily Target 2X Long RCAT ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RCAX and GLDY in my portfolio?

RCAX and GLDY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RCAX 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, RCAX or GLDY?

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

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

GLDY has the higher dividend yield at 48.65%, compared with 0.00% for RCAX.

What is the main difference between RCAX and GLDY?

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