SGDM vs. GOLI

Last updated Jul 14, 2026

SGDM (Sprott Gold Miners ETF) and GOLI (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - SGDM is a Gold fund tracking the Solactive Gold Miners Custom Factors Index, while GOLI is a Derivative Income fund actively managed by Defiance. SGDM is passively managed, while GOLI is actively managed. Over the past year, SGDM returned 35.60% vs 2.36% for GOLI. A 0.72 correlation means they provide meaningful diversification when combined. SGDM charges 0.50%/yr vs 0.99%/yr for GOLI.

Performance

SGDM vs. GOLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Gold Miners ETF (SGDM) and Defiance Gold Enhanced Options Income ETF (GOLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGDM achieves a -12.51% return, which is significantly lower than GOLI's -10.70% return.

SGDM

• 1D: -2.92%
• 1M: -8.31%
• 6M: -21.49%
• YTD: -12.51%
• 1Y: 35.60%
• 3Y*: 32.22%
• 5Y*: 17.55%
• 10Y*: 8.81%

GOLI

• 1D: -1.71%
• 1M: -3.41%
• 6M: -14.24%
• YTD: -10.70%
• 1Y: 2.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGDM vs. GOLI - Yearly Performance Comparison

	2026 (YTD)	2025
SGDM Sprott Gold Miners ETF	-12.51%	85.70%
GOLI Defiance Gold Enhanced Options Income ETF	-10.70%	15.16%

Correlation

The correlation between SGDM and GOLI is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.72

The correlation between SGDM and GOLI has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.

Return for Risk

SGDM vs. GOLI — Risk / Return Rank

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

SGDM

SGDM Risk / Return Rank: 26
SGDM Sharpe Ratio Rank: 26
SGDM Sortino Ratio Rank: 26
SGDM Omega Ratio Rank: 29
SGDM Calmar Ratio Rank: 25
SGDM Martin Ratio Rank: 23

GOLI

GOLI Risk / Return Rank: 11
GOLI Sharpe Ratio Rank: 11
GOLI Sortino Ratio Rank: 11
GOLI Omega Ratio Rank: 12
GOLI Calmar Ratio Rank: 10
GOLI 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.

SGDM vs. GOLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) and Defiance Gold Enhanced Options Income ETF (GOLI). 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.

	SGDM	GOLI	Difference
Sharpe ratio: Return per unit of total volatility	0.76	0.09	+0.66
Sortino ratio: Return per unit of downside risk	1.19	0.29	+0.91
Omega ratio: Gain probability vs. loss probability	1.16	1.05	+0.12
Calmar ratio: Return relative to maximum drawdown	0.99	0.09	+0.90
Martin ratio: Return relative to average drawdown	2.29	0.29	+2.00

SGDM vs. GOLI - Sharpe Ratio Comparison

The current SGDM Sharpe Ratio is 0.76, which is higher than the GOLI Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of SGDM and GOLI, 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

SGDM vs. GOLI - Drawdown Comparison

The maximum SGDM drawdown since its inception was -54.95%, which is greater than GOLI's maximum drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for SGDM and GOLI.

Drawdown Indicators

	SGDM	GOLI	Difference
Max Drawdown Largest peak-to-trough decline	-54.95%	-25.88%	-29.07%
Max Drawdown (1Y) Largest decline over 1 year	-36.10%	-25.88%	-10.22%
Max Drawdown (3Y) Largest decline over 3 years	-36.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.69%	—	—
Current Drawdown Current decline from peak	-36.10%	-20.59%	-15.51%
Average Drawdown Average peak-to-trough decline	-25.50%	-5.11%	-20.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.61%	8.28%	+7.33%

Volatility

SGDM vs. GOLI - Volatility Comparison

Sprott Gold Miners ETF (SGDM) and Defiance Gold Enhanced Options Income ETF (GOLI) have volatilities of 14.97% and 14.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDM	GOLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.97%	14.48%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	39.69%	23.37%	+16.32%
Volatility (1Y) Calculated over the trailing 1-year period	47.34%	25.07%	+22.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.43%	23.26%	+13.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.02%	23.26%	+13.76%

SGDM vs. GOLI - Expense Ratio Comparison

SGDM has a 0.50% expense ratio, which is lower than GOLI's 0.99% expense ratio.

Dividends

SGDM vs. GOLI - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 1.19%, less than GOLI's 51.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOLI Defiance Gold Enhanced Options Income ETF	51.67%	37.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SGDM Sprott Gold Miners ETF	1.19%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%

Frequently Asked Questions

Can I hold both SGDM and GOLI in my portfolio?

SGDM and GOLI have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDM or GOLI?

SGDM has higher volatility (14.97%) compared to GOLI (14.48%). In terms of maximum drawdown, SGDM dropped -54.95% vs GOLI's -25.88%.

Which ETF is better, SGDM or GOLI?

On 1-year performance, SGDM leads with 35.60% vs 2.36% for GOLI. On fees, SGDM is cheaper at 0.50% per year. On volatility, GOLI has been the lower-risk option at 14.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDM or GOLI?

Over the 1-year period, SGDM has performed better with a 35.60% return vs 2.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDM or GOLI?

SGDM is cheaper with a 0.50% expense ratio, compared with 0.99% for GOLI.

Which ETF pays a higher dividend yield, SGDM or GOLI?

GOLI has the higher dividend yield at 51.67%, compared with 1.19% for SGDM.

What is the main difference between SGDM and GOLI?

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

Which has better risk-adjusted returns?

SGDM currently has the higher Sharpe Ratio (0.76 vs 0.09), 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.