XSLV vs. GLDI
XSLV (Invesco S&P SmallCap Low Volatility ETF) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both exchange-traded funds - XSLV is a Volatility Hedged Equity fund tracking the S&P SmallCap 600 Low Volatility Index, while GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, XSLV returned 6.15%/yr vs 7.83%/yr for GLDI. At a 0.02 correlation, their price movements are largely independent. XSLV charges 0.25%/yr vs 0.65%/yr for GLDI.
Performance
XSLV vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, XSLV achieves a 11.98% return, which is significantly higher than GLDI's -4.45% return. Over the past 10 years, XSLV has underperformed GLDI with an annualized return of 6.15%, while GLDI has yielded a comparatively higher 7.83% annualized return.
XSLV
- 1D
- 1.45%
- 1M
- 3.35%
- YTD
- 11.98%
- 6M
- 11.04%
- 1Y
- 15.35%
- 3Y*
- 12.03%
- 5Y*
- 4.17%
- 10Y*
- 6.15%
GLDI
- 1D
- -1.62%
- 1M
- -7.19%
- YTD
- -4.45%
- 6M
- -5.42%
- 1Y
- 11.67%
- 3Y*
- 17.47%
- 5Y*
- 10.96%
- 10Y*
- 7.83%
XSLV vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSLV Invesco S&P SmallCap Low Volatility ETF | 11.98% | 0.31% | 9.81% | 1.34% | -11.83% | 29.34% | -17.40% | 22.35% | -5.41% | 8.57% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.45% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
Correlation
The correlation between XSLV and GLDI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2013 | 0.02 |
The correlation between XSLV and GLDI shifts across timeframes, from 0.02 (all time) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XSLV vs. GLDI — Risk / Return Rank
XSLV
GLDI
XSLV vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Low Volatility ETF (XSLV) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (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.
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.
| XSLV | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 0.83 | +1.24 |
| Martin ratioReturn relative to average drawdown | 5.87 | 2.73 | +3.15 |
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Drawdowns
XSLV vs. GLDI - Drawdown Comparison
The maximum XSLV drawdown since its inception was -44.34%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for XSLV and GLDI.
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Drawdown Indicators
| XSLV | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.34% | -32.26% | -12.08% |
Max Drawdown (1Y)Largest decline over 1 year | -7.46% | -14.14% | +6.68% |
Max Drawdown (3Y)Largest decline over 3 years | -18.35% | -14.14% | -4.21% |
Max Drawdown (5Y)Largest decline over 5 years | -24.72% | -14.14% | -10.58% |
Max Drawdown (10Y)Largest decline over 10 years | -44.34% | -14.94% | -29.40% |
Current DrawdownCurrent decline from peak | 0.00% | -13.28% | +13.28% |
Average DrawdownAverage peak-to-trough decline | -7.26% | -13.99% | +6.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 4.30% | -1.68% |
Volatility
XSLV vs. GLDI - Volatility Comparison
The current volatility for Invesco S&P SmallCap Low Volatility ETF (XSLV) is 4.59%, while UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) has a volatility of 7.18%. This indicates that XSLV experiences smaller price fluctuations and is considered to be less risky 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
| XSLV | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.59% | 7.18% | -2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 9.42% | 14.58% | -5.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.50% | 15.99% | -2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 11.58% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.94% | 11.52% | +8.42% |
XSLV vs. GLDI - Expense Ratio Comparison
XSLV has a 0.25% expense ratio, which is lower than GLDI's 0.65% expense ratio.
Dividends
XSLV vs. GLDI - Dividend Comparison
XSLV's dividend yield for the trailing twelve months is around 2.15%, less than GLDI's 26.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.67% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
XSLV Invesco S&P SmallCap Low Volatility ETF | 2.15% | 2.14% | 2.55% | 2.35% | 2.78% | 1.05% | 2.49% | 2.43% | 2.75% | 1.87% | 1.96% | 2.20% |
Frequently Asked Questions
XSLV and GLDI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDI has higher volatility (7.18%) compared to XSLV (4.59%). In terms of maximum drawdown, XSLV dropped -44.34% vs GLDI's -32.26%.
On 10-year performance, GLDI leads with 7.83% vs 6.15% for XSLV. On fees, XSLV is cheaper at 0.25% per year. On volatility, XSLV has been the lower-risk option at 4.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLDI has performed better with a 7.83% return vs 6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSLV is cheaper with a 0.25% expense ratio, compared with 0.65% for GLDI.
GLDI has the higher dividend yield at 26.67%, compared with 2.15% for XSLV.
XSLV is categorized as Volatility Hedged Equity, while GLDI is Gold. XSLV tracks S&P SmallCap 600 Low Volatility Index, while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.25% for XSLV and 0.65% for GLDI.
XSLV currently has the higher Sharpe Ratio (1.15 vs 0.73), 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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