WDTE vs. GLDY

Last updated Jun 23, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and GLDY (Defiance Gold Enhanced Options Income ETF) are both Derivative Income funds from Defiance. Both are actively managed. Over the past year, WDTE returned 21.42% vs 5.66% for GLDY. At a 0.13 correlation, their price movements are largely independent. WDTE charges 1.01%/yr vs 0.99%/yr for GLDY.

Performance

WDTE vs. GLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) 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, WDTE achieves a 9.31% return, which is significantly higher than GLDY's -7.66% return.

WDTE

• 1D: -0.09%
• 1M: -0.26%
• YTD: 9.31%
• 6M: 9.03%
• 1Y: 21.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDY

• 1D: -0.54%
• 1M: -6.13%
• YTD: -7.66%
• 6M: -9.83%
• 1Y: 5.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. GLDY - Yearly Performance Comparison

	2026 (YTD)	2025
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	9.31%	15.55%
GLDY Defiance Gold Enhanced Options Income ETF	-7.66%	15.15%

Correlation

The correlation between WDTE and GLDY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.13

The correlation between WDTE and GLDY shifts across timeframes, from 0.13 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

WDTE vs. GLDY — Risk / Return Rank

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

WDTE

WDTE Risk / Return Rank: 63
WDTE Sharpe Ratio Rank: 61
WDTE Sortino Ratio Rank: 56
WDTE Omega Ratio Rank: 67
WDTE Calmar Ratio Rank: 58
WDTE Martin Ratio Rank: 72

GLDY

GLDY Risk / Return Rank: 12
GLDY Sharpe Ratio Rank: 11
GLDY Sortino Ratio Rank: 11
GLDY Omega Ratio Rank: 13
GLDY Calmar Ratio Rank: 10
GLDY Martin Ratio Rank: 12

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.

WDTE vs. GLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) 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.

	WDTE	GLDY	Difference
Sharpe ratio: Return per unit of total volatility	1.98	0.23	+1.75
Sortino ratio: Return per unit of downside risk	2.59	0.46	+2.13
Omega ratio: Gain probability vs. loss probability	1.39	1.08	+0.31
Calmar ratio: Return relative to maximum drawdown	2.81	0.22	+2.59
Martin ratio: Return relative to average drawdown	13.06	0.83	+12.23

WDTE vs. GLDY - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 1.98, which is higher than the GLDY Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of WDTE 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

WDTE vs. GLDY - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, smaller than the maximum GLDY drawdown of -25.90%. Use the drawdown chart below to compare losses from any high point for WDTE and GLDY.

Drawdown Indicators

	WDTE	GLDY	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-25.90%	+10.05%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-25.90%	+18.25%
Current Drawdown Current decline from peak	-1.68%	-17.88%	+16.20%
Average Drawdown Average peak-to-trough decline	-1.83%	-4.42%	+2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	6.80%	-5.16%

Volatility

WDTE vs. GLDY - Volatility Comparison

The current volatility for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) is 4.24%, while Defiance Gold Enhanced Options Income ETF (GLDY) has a volatility of 14.80%. This indicates that WDTE experiences smaller price fluctuations and is considered to be less risky than GLDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	GLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	14.80%	-10.56%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	23.16%	-13.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.90%	24.59%	-13.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.49%	23.27%	-11.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.49%	23.27%	-11.78%

WDTE vs. GLDY - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is higher than GLDY's 0.99% expense ratio.

Dividends

WDTE vs. GLDY - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 32.54%, less than GLDY's 50.87% yield.

Position	TTM	2025	2024	2023
GLDY Defiance Gold Enhanced Options Income ETF	50.87%	37.38%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.54%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both WDTE and GLDY in my portfolio?

WDTE and GLDY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WDTE or GLDY?

GLDY has higher volatility (14.80%) compared to WDTE (4.24%). In terms of maximum drawdown, WDTE dropped -15.85% vs GLDY's -25.90%.

Which ETF is better, WDTE or GLDY?

On 1-year performance, WDTE leads with 21.42% vs 5.66% for GLDY. On fees, GLDY is cheaper at 0.99% per year. On volatility, WDTE has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDTE or GLDY?

Over the 1-year period, WDTE has performed better with a 21.42% return vs 5.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or GLDY?

GLDY is cheaper with a 0.99% expense ratio, compared with 1.01% for WDTE.

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

GLDY has the higher dividend yield at 50.87%, compared with 32.54% for WDTE.

What is the main difference between WDTE and GLDY?

Their fees differ too: 1.01% for WDTE and 0.99% for GLDY.

Which has better risk-adjusted returns?

WDTE currently has the higher Sharpe Ratio (1.98 vs 0.23), 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.