SDEM vs. GLDI
SDEM (Global X MSCI SuperDividend Emerging Markets ETF) and GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) are both exchange-traded funds - SDEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Top 50 Dividend, while GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, SDEM returned 5.26%/yr vs 8.20%/yr for GLDI. At a 0.20 correlation, their price movements are largely independent. SDEM charges 0.67%/yr vs 0.65%/yr for GLDI.
Performance
SDEM vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, SDEM achieves a 11.17% return, which is significantly higher than GLDI's -2.64% return. Over the past 10 years, SDEM has underperformed GLDI with an annualized return of 5.26%, while GLDI has yielded a comparatively higher 8.20% annualized return.
SDEM
- 1D
- 0.93%
- 1M
- 0.85%
- YTD
- 11.17%
- 6M
- 12.41%
- 1Y
- 28.12%
- 3Y*
- 19.18%
- 5Y*
- 4.51%
- 10Y*
- 5.26%
GLDI
- 1D
- 0.42%
- 1M
- -6.93%
- YTD
- -2.64%
- 6M
- -2.08%
- 1Y
- 14.82%
- 3Y*
- 17.80%
- 5Y*
- 10.20%
- 10Y*
- 8.20%
SDEM vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDEM Global X MSCI SuperDividend Emerging Markets ETF | 11.17% | 32.01% | 4.02% | 12.64% | -21.53% | 2.11% | -11.13% | 17.56% | -17.40% | 16.57% |
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 SDEM and GLDI is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2015 | 0.20 |
The correlation between SDEM and GLDI shifts across timeframes, from 0.20 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SDEM vs. GLDI — Risk / Return Rank
SDEM
GLDI
SDEM vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MSCI SuperDividend Emerging Markets ETF (SDEM) 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.
| SDEM | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.20 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 1.05 | +2.08 |
| Martin ratioReturn relative to average drawdown | 10.28 | 3.77 | +6.51 |
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Drawdowns
SDEM vs. GLDI - Drawdown Comparison
The maximum SDEM drawdown since its inception was -47.38%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for SDEM and GLDI.
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Drawdown Indicators
| SDEM | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.38% | -32.26% | -15.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.03% | -14.14% | +5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -12.34% | -14.14% | +1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -36.25% | -14.14% | -22.11% |
Max Drawdown (10Y)Largest decline over 10 years | -47.38% | -14.94% | -32.44% |
Current DrawdownCurrent decline from peak | -3.49% | -11.63% | +8.14% |
Average DrawdownAverage peak-to-trough decline | -20.66% | -13.99% | -6.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 3.94% | -1.20% |
Volatility
SDEM vs. GLDI - Volatility Comparison
The current volatility for Global X MSCI SuperDividend Emerging Markets ETF (SDEM) is 4.90%, while Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a volatility of 6.70%. This indicates that SDEM 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
| SDEM | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 6.70% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 11.48% | 14.24% | -2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.91% | 15.75% | -1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.47% | 11.61% | +5.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.22% | 11.50% | +7.72% |
SDEM vs. GLDI - Expense Ratio Comparison
SDEM has a 0.67% expense ratio, which is higher than GLDI's 0.65% expense ratio.
Dividends
SDEM vs. GLDI - Dividend Comparison
SDEM's dividend yield for the trailing twelve months is around 4.99%, 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% |
SDEM Global X MSCI SuperDividend Emerging Markets ETF | 4.99% | 5.27% | 7.28% | 7.50% | 8.86% | 8.14% | 6.30% | 6.47% | 6.55% | 5.01% | 5.06% | 6.14% |
Frequently Asked Questions
SDEM and GLDI have a correlation of 0.34, 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 SDEM (4.90%). In terms of maximum drawdown, SDEM dropped -47.38% vs GLDI's -32.26%.
On 10-year performance, GLDI leads with 8.20% vs 5.26% for SDEM. On fees, GLDI is cheaper at 0.65% per year. On volatility, SDEM has been the lower-risk option at 4.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLDI has performed better with a 8.20% return vs 5.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.67% for SDEM.
GLDI has the higher dividend yield at 23.45%, compared with 4.99% for SDEM.
SDEM is categorized as Emerging Markets Equities, while GLDI is Precious Metals. SDEM tracks MSCI Emerging Markets Top 50 Dividend, while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: Global X and Credit Suisse. Their fees differ too: 0.67% for SDEM and 0.65% for GLDI.
SDEM currently has the higher Sharpe Ratio (2.03 vs 0.95), 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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