SGDJ vs. GLDY

Last updated Jun 24, 2026

SGDJ (Sprott Junior Gold Miners ETF) and GLDY (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - SGDJ is a Gold fund tracking the Solactive Junior Gold Miners Custom Factors Index, while GLDY is a Derivative Income fund actively managed by Defiance. SGDJ is passively managed, while GLDY is actively managed. Over the past year, SGDJ returned 72.25% vs 3.71% for GLDY. A 0.70 correlation means they provide meaningful diversification when combined. SGDJ charges 0.50%/yr vs 0.99%/yr for GLDY.

Performance

SGDJ vs. GLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Gold Miners ETF (SGDJ) 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, SGDJ achieves a -5.38% return, which is significantly higher than GLDY's -8.97% return.

SGDJ

• 1D: -5.01%
• 1M: -6.84%
• YTD: -5.38%
• 6M: -10.31%
• 1Y: 72.25%
• 3Y*: 50.80%
• 5Y*: 17.28%
• 10Y*: 10.08%

GLDY

• 1D: -1.42%
• 1M: -7.47%
• YTD: -8.97%
• 6M: -11.98%
• 1Y: 3.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGDJ vs. GLDY - Yearly Performance Comparison

	2026 (YTD)	2025
SGDJ Sprott Junior Gold Miners ETF	-5.38%	117.46%
GLDY Defiance Gold Enhanced Options Income ETF	-8.97%	15.15%

Correlation

The correlation between SGDJ and GLDY is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.70

The correlation between SGDJ and GLDY has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.

Return for Risk

SGDJ vs. GLDY — Risk / Return Rank

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

SGDJ

SGDJ Risk / Return Rank: 39
SGDJ Sharpe Ratio Rank: 42
SGDJ Sortino Ratio Rank: 37
SGDJ Omega Ratio Rank: 40
SGDJ Calmar Ratio Rank: 41
SGDJ Martin Ratio Rank: 35

GLDY

GLDY Risk / Return Rank: 11
GLDY Sharpe Ratio Rank: 10
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.

SGDJ vs. GLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Gold Miners ETF (SGDJ) 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.

	SGDJ	GLDY	Difference
Sharpe ratio: Return per unit of total volatility	1.43	0.15	+1.28
Sortino ratio: Return per unit of downside risk	1.82	0.36	+1.46
Omega ratio: Gain probability vs. loss probability	1.25	1.06	+0.19
Calmar ratio: Return relative to maximum drawdown	1.97	0.14	+1.83
Martin ratio: Return relative to average drawdown	5.11	0.54	+4.57

SGDJ vs. GLDY - Sharpe Ratio Comparison

The current SGDJ Sharpe Ratio is 1.43, which is higher than the GLDY Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of SGDJ and GLDY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SGDJ vs. GLDY - Drawdown Comparison

The maximum SGDJ drawdown since its inception was -59.27%, which is greater than GLDY's maximum drawdown of -25.90%. Use the drawdown chart below to compare losses from any high point for SGDJ and GLDY.

Drawdown Indicators

	SGDJ	GLDY	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-25.90%	-33.37%
Max Drawdown (1Y) Largest decline over 1 year	-36.84%	-25.90%	-10.94%
Max Drawdown (3Y) Largest decline over 3 years	-36.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-52.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.27%	—	—
Current Drawdown Current decline from peak	-31.02%	-19.05%	-11.97%
Average Drawdown Average peak-to-trough decline	-26.25%	-4.47%	-21.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.18%	6.91%	+7.27%

Volatility

SGDJ vs. GLDY - Volatility Comparison

Sprott Junior Gold Miners ETF (SGDJ) has a higher volatility of 18.68% compared to Defiance Gold Enhanced Options Income ETF (GLDY) at 14.83%. This indicates that SGDJ's price experiences larger fluctuations and is considered to be riskier than GLDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDJ	GLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.68%	14.83%	+3.85%
Volatility (6M) Calculated over the trailing 6-month period	42.77%	23.20%	+19.57%
Volatility (1Y) Calculated over the trailing 1-year period	50.78%	24.59%	+26.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.87%	23.27%	+17.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.96%	23.27%	+17.69%

SGDJ vs. GLDY - Expense Ratio Comparison

SGDJ has a 0.50% expense ratio, which is lower than GLDY's 0.99% expense ratio.

Dividends

SGDJ vs. GLDY - Dividend Comparison

SGDJ's dividend yield for the trailing twelve months is around 8.85%, less than GLDY's 51.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLDY Defiance Gold Enhanced Options Income ETF	51.60%	37.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SGDJ Sprott Junior Gold Miners ETF	8.85%	8.37%	6.55%	4.55%	2.46%	2.20%	1.97%	0.65%	0.00%	0.14%	1.77%	0.85%

Frequently Asked Questions

Can I hold both SGDJ and GLDY in my portfolio?

SGDJ and GLDY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDJ or GLDY?

SGDJ has higher volatility (18.68%) compared to GLDY (14.83%). In terms of maximum drawdown, SGDJ dropped -59.27% vs GLDY's -25.90%.

Which ETF is better, SGDJ or GLDY?

On 1-year performance, SGDJ leads with 72.25% vs 3.71% for GLDY. On fees, SGDJ is cheaper at 0.50% per year. On volatility, GLDY has been the lower-risk option at 14.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDJ or GLDY?

Over the 1-year period, SGDJ has performed better with a 72.25% return vs 3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDJ or GLDY?

SGDJ is cheaper with a 0.50% expense ratio, compared with 0.99% for GLDY.

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

GLDY has the higher dividend yield at 51.60%, compared with 8.85% for SGDJ.

What is the main difference between SGDJ and GLDY?

SGDJ is categorized as Gold, while GLDY is Derivative Income. They also come from different issuers: Sprott and Defiance. Their fees differ too: 0.50% for SGDJ and 0.99% for GLDY.

Which has better risk-adjusted returns?

SGDJ currently has the higher Sharpe Ratio (1.43 vs 0.15), 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.