SPIB vs. GOLY
SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) and GOLY (Strategy Shares Gold-Hedged Bond ETF) are both exchange-traded funds - SPIB is a Corporate Bonds fund tracking the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while GOLY is a Nontraditional Bonds fund tracking the Solactive Gold-Backed Bond Index. Both are passively managed. Over the past 5 years, SPIB returned 1.79%/yr vs 6.03%/yr for GOLY. At a 0.47 correlation, their price movements are largely independent. SPIB charges 0.07%/yr vs 0.79%/yr for GOLY.
Performance
SPIB vs. GOLY - Performance Comparison
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Returns By Period
In the year-to-date period, SPIB achieves a 0.46% return, which is significantly higher than GOLY's -19.06% return.
SPIB
- 1D
- -0.09%
- 1M
- 0.25%
- YTD
- 0.46%
- 6M
- 0.59%
- 1Y
- 5.27%
- 3Y*
- 5.79%
- 5Y*
- 1.79%
- 10Y*
- 2.86%
GOLY
- 1D
- -1.46%
- 1M
- -1.57%
- YTD
- -19.06%
- 6M
- -16.22%
- 1Y
- 3.60%
- 3Y*
- 17.40%
- 5Y*
- 6.03%
- 10Y*
- —
SPIB vs. GOLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.46% | 7.91% | 4.28% | 7.27% | -9.65% | 0.19% |
GOLY Strategy Shares Gold-Hedged Bond ETF | -19.06% | 57.98% | 19.82% | 12.74% | -19.96% | -1.30% |
Correlation
The correlation between SPIB and GOLY 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 | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 19, 2021 | 0.47 |
The correlation between SPIB and GOLY shifts across timeframes, from 0.34 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPIB vs. GOLY — Risk / Return Rank
SPIB
GOLY
SPIB vs. GOLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and Strategy Shares Gold-Hedged Bond ETF (GOLY). 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.
| SPIB | GOLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.05 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 0.12 | +2.50 |
| Martin ratioReturn relative to average drawdown | 9.13 | 0.28 | +8.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPIB | GOLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 0.11 | +1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.27 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.29 | +0.59 |
Drawdowns
SPIB vs. GOLY - Drawdown Comparison
The maximum SPIB drawdown since its inception was -14.94%, smaller than the maximum GOLY drawdown of -35.99%. Use the drawdown chart below to compare losses from any high point for SPIB and GOLY.
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Drawdown Indicators
| SPIB | GOLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -35.99% | +21.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -30.16% | +28.14% |
Max Drawdown (3Y)Largest decline over 3 years | -3.18% | -30.16% | +26.98% |
Max Drawdown (5Y)Largest decline over 5 years | -14.80% | -35.99% | +21.19% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -0.78% | -30.16% | +29.38% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -11.86% | +9.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 12.99% | -12.41% |
Volatility
SPIB vs. GOLY - Volatility Comparison
The current volatility for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is 0.93%, while Strategy Shares Gold-Hedged Bond ETF (GOLY) has a volatility of 6.64%. This indicates that SPIB experiences smaller price fluctuations and is considered to be less risky than GOLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIB | GOLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 6.64% | -5.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 29.51% | -27.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.83% | 32.89% | -30.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 22.30% | -17.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 22.21% | -17.61% |
SPIB vs. GOLY - Expense Ratio Comparison
SPIB has a 0.07% expense ratio, which is lower than GOLY's 0.79% expense ratio.
Dividends
SPIB vs. GOLY - Dividend Comparison
SPIB's dividend yield for the trailing twelve months is around 4.46%, less than GOLY's 9.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOLY Strategy Shares Gold-Hedged Bond ETF | 9.74% | 7.22% | 3.85% | 2.94% | 2.57% | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.46% | 4.42% | 4.41% | 3.84% | 2.65% | 1.58% | 2.18% | 3.03% | 3.04% | 2.79% | 2.68% | 2.69% |
Frequently Asked Questions
SPIB and GOLY 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.
GOLY has higher volatility (6.64%) compared to SPIB (0.93%). In terms of maximum drawdown, SPIB dropped -14.94% vs GOLY's -35.99%.
On 5-year performance, GOLY leads with 6.03% vs 1.79% for SPIB. On fees, SPIB is cheaper at 0.07% per year. On volatility, SPIB has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GOLY has performed better with a 6.03% return vs 1.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPIB is cheaper with a 0.07% expense ratio, compared with 0.79% for GOLY.
GOLY has the higher dividend yield at 9.74%, compared with 4.46% for SPIB.
SPIB is categorized as Corporate Bonds, while GOLY is Nontraditional Bonds. SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while GOLY tracks Solactive Gold-Backed Bond Index. They also come from different issuers: State Street and Strategy Shares. Their fees differ too: 0.07% for SPIB and 0.79% for GOLY.
SPIB currently has the higher Sharpe Ratio (1.87 vs 0.11), 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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