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SGOL vs. GLDI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SGOL vs. GLDI

Last updated Jun 4, 2026

SGOL (abrdn Physical Gold Shares ETF) and GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) are both Precious Metals funds - SGOL tracks the LBMA Gold Price PM ($/ozt) while GLDI tracks the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, SGOL returned 13.32%/yr vs 8.99%/yr for GLDI. Their correlation of 0.84 suggests significant overlap in exposure. SGOL charges 0.17%/yr vs 0.65%/yr for GLDI.

Performance

SGOL vs. GLDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Gold Shares ETF (SGOL) and Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SGOL achieves a 2.97% return, which is significantly higher than GLDI's 2.06% return. Over the past 10 years, SGOL has outperformed GLDI with an annualized return of 13.32%, while GLDI has yielded a comparatively lower 8.99% annualized return.

SGOL

1D
-0.98%
1M
-1.67%
YTD
2.97%
6M
5.51%
1Y
32.27%
3Y*
31.36%
5Y*
18.40%
10Y*
13.32%

GLDI

1D
-0.81%
1M
0.90%
YTD
2.06%
6M
4.42%
1Y
21.23%
3Y*
19.54%
5Y*
11.15%
10Y*
8.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SGOL vs. GLDI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SGOL
abrdn Physical Gold Shares ETF		2.97%63.99%26.90%12.99%-0.51%-3.94%25.03%18.21%-1.94%12.86%
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN		2.06%34.25%17.76%8.93%-1.11%-3.42%23.50%14.40%-0.54%8.94%

Correlation

The correlation between SGOL and GLDI is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (5Y)
Calculated over the trailing 5-year period

0.86

Correlation (10Y)
Calculated over the trailing 10-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Jan 30, 2013

0.84

The correlation between SGOL and GLDI has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

abrdn Physical Gold Shares ETF

Credit Suisse X-Links Gold Shares Covered Call ETN

Often compared with SGOL:
SGOL vs. GLDSGOL vs. IAUSGOL vs. GLDMSGOL vs. PHYSSGOL vs. BARSGOL vs. IAUMSGOL vs. AAAU
Often compared with GLDI:
GLDI vs. IGLDGLDI vs. GLDGLDI vs. SCHDGLDI vs. GLDYGLDI vs. GLDW.LGLDI vs. BGLDGLDI vs. JEPQ

Return for Risk

SGOL vs. GLDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SGOL
SGOL Risk / Return Rank: 3232
Overall Rank
SGOL Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
SGOL Sortino Ratio Rank: 2929
Sortino Ratio Rank
SGOL Omega Ratio Rank: 3636
Omega Ratio Rank
SGOL Calmar Ratio Rank: 3434
Calmar Ratio Rank
SGOL Martin Ratio Rank: 2929
Martin Ratio Rank
GLDI
GLDI Risk / Return Rank: 3838
Overall Rank
GLDI Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
GLDI Sortino Ratio Rank: 3535
Sortino Ratio Rank
GLDI Omega Ratio Rank: 4747
Omega Ratio Rank
GLDI Calmar Ratio Rank: 3131
Calmar Ratio Rank
GLDI Martin Ratio Rank: 3838
Martin Ratio Rank
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.

SGOL vs. GLDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Gold Shares ETF (SGOL) 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.

SGOLGLDIDifference
Sharpe ratioReturn per unit of total volatility
1.23
1.46

-0.23

Sortino ratioReturn per unit of downside risk
1.63
1.90

-0.27

Omega ratioGain probability vs. loss probability

1.25

1.30

-0.05

Calmar ratioReturn relative to maximum drawdown

1.69

1.55

+0.14

Martin ratioReturn relative to average drawdown

4.20

6.07

-1.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGOL vs. GLDI - Sharpe Ratio Comparison

The current SGOL Sharpe Ratio is 1.23, which is comparable to the GLDI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of SGOL and GLDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SGOLGLDIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.23

1.46

-0.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.99

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

0.79

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.37

+0.18

Drawdowns

SGOL vs. GLDI - Drawdown Comparison

The maximum SGOL drawdown since its inception was -45.51%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for SGOL and GLDI.

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Drawdown Indicators

SGOLGLDIDifference

Max Drawdown

Largest peak-to-trough decline

-45.51%

-32.26%

-13.25%

Max Drawdown (1Y)

Largest decline over 1 year

-19.14%

-13.73%

-5.41%

Max Drawdown (3Y)

Largest decline over 3 years

-19.14%

-13.73%

-5.41%

Max Drawdown (5Y)

Largest decline over 5 years

-20.92%

-14.07%

-6.85%

Max Drawdown (10Y)

Largest decline over 10 years

-21.56%

-14.94%

-6.62%

Current Drawdown

Current decline from peak

-17.72%

-7.37%

-10.35%

Average Drawdown

Average peak-to-trough decline

-18.41%

-14.00%

-4.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.71%

3.50%

+4.21%

Volatility

SGOL vs. GLDI - Volatility Comparison

abrdn Physical Gold Shares ETF (SGOL) has a higher volatility of 5.46% compared to Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) at 3.88%. This indicates that SGOL's price experiences larger fluctuations and is considered to be riskier 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

SGOLGLDIDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.46%

3.88%

+1.58%

Volatility (6M)

Calculated over the trailing 6-month period

22.93%

12.87%

+10.06%

Volatility (1Y)

Calculated over the trailing 1-year period

26.33%

14.57%

+11.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.89%

11.31%

+6.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.91%

11.35%

+4.56%

SGOL vs. GLDI - Expense Ratio Comparison

SGOL has a 0.17% expense ratio, which is lower than GLDI's 0.65% expense ratio.

Dividends

SGOL vs. GLDI - Dividend Comparison

SGOL has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 22.37%.

PositionTTM20252024202320222021202020192018201720162015
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN		22.37%16.15%10.45%10.02%13.73%10.65%14.25%7.25%5.33%7.77%17.26%10.07%
SGOL
abrdn Physical Gold Shares ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SGOL and GLDI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SGOL has higher volatility (5.46%) compared to GLDI (3.88%). In terms of maximum drawdown, SGOL dropped -45.51% vs GLDI's -32.26%.

On 10-year performance, SGOL leads with 13.32% vs 8.99% for GLDI. On fees, SGOL is cheaper at 0.17% per year. On volatility, GLDI has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SGOL has performed better with a 13.32% return vs 8.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SGOL is cheaper with a 0.17% expense ratio, compared with 0.65% for GLDI.

GLDI has the higher dividend yield at 22.37%, compared with 0.00% for SGOL.

SGOL tracks LBMA Gold Price PM ($/ozt), while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: abrdn and Credit Suisse. Their fees differ too: 0.17% for SGOL and 0.65% for GLDI.

GLDI currently has the higher Sharpe Ratio (1.46 vs 1.23), 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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