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XSLV vs. GLDI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSLV vs. GLDI

Last updated Jun 4, 2026

XSLV (Invesco S&P SmallCap Low Volatility ETF) and GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) 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 Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, XSLV returned 5.44%/yr vs 8.99%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Low Volatility ETF (XSLV) 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, XSLV achieves a 6.15% return, which is significantly higher than GLDI's 2.06% return. Over the past 10 years, XSLV has underperformed GLDI with an annualized return of 5.44%, while GLDI has yielded a comparatively higher 8.99% annualized return.

XSLV

1D
-1.47%
1M
-1.16%
YTD
6.15%
6M
6.31%
1Y
9.97%
3Y*
8.56%
5Y*
2.94%
10Y*
5.44%

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)

XSLV vs. GLDI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XSLV
Invesco S&P SmallCap Low Volatility ETF		6.15%0.31%9.81%1.34%-11.83%29.34%-17.40%22.35%-5.41%8.57%
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 XSLV and GLDI is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.12

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

0.12

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

0.13

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

0.04

Correlation (All Time)
Calculated using the full available price history since Feb 19, 2013

0.02

The correlation between XSLV and GLDI shifts across timeframes, from 0.02 (all time) to 0.13 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

Invesco S&P SmallCap Low Volatility ETF

Credit Suisse X-Links Gold Shares Covered Call ETN

Often compared with XSLV:
XSLV vs. SMLVXSLV vs. SPYXSLV vs. USMVXSLV vs. VBRXSLV vs. FSPGXXSLV vs. FTBFXXSLV vs. VOO
Often compared with GLDI:
GLDI vs. IGLDGLDI vs. GLDGLDI vs. SCHDGLDI vs. GLDYGLDI vs. GLDW.LGLDI vs. BGLDGLDI vs. JEPQ

Return for Risk

XSLV vs. GLDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSLV
XSLV Risk / Return Rank: 2424
Overall Rank
XSLV Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
XSLV Sortino Ratio Rank: 2222
Sortino Ratio Rank
XSLV Omega Ratio Rank: 2020
Omega Ratio Rank
XSLV Calmar Ratio Rank: 2828
Calmar Ratio Rank
XSLV Martin Ratio Rank: 2727
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.

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 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.

XSLVGLDIDifference

Sharpe ratio

Return per unit of total volatility

0.76

1.46

-0.70

Sortino ratio

Return per unit of downside risk

1.21

1.90

-0.69

Omega ratio

Gain probability vs. loss probability

1.13

1.30

-0.17

Calmar ratio

Return relative to maximum drawdown

1.34

1.55

-0.21

Martin ratio

Return relative to average drawdown

3.80

6.07

-2.28

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

XSLV vs. GLDI - Sharpe Ratio Comparison

The current XSLV Sharpe Ratio is 0.76, which is lower than the GLDI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of XSLV 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

XSLVGLDIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.76

1.46

-0.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

0.99

-0.81

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.27

0.79

-0.52

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.37

+0.04

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

XSLVGLDIDifference

Max Drawdown

Largest peak-to-trough decline

-44.34%

-32.26%

-12.08%

Max Drawdown (1Y)

Largest decline over 1 year

-7.46%

-13.73%

+6.27%

Max Drawdown (3Y)

Largest decline over 3 years

-18.35%

-13.73%

-4.62%

Max Drawdown (5Y)

Largest decline over 5 years

-24.72%

-14.07%

-10.65%

Max Drawdown (10Y)

Largest decline over 10 years

-44.34%

-14.94%

-29.40%

Current Drawdown

Current decline from peak

-2.77%

-7.37%

+4.60%

Average Drawdown

Average peak-to-trough decline

-7.29%

-14.00%

+6.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.63%

3.50%

-0.87%

Volatility

XSLV vs. GLDI - Volatility Comparison

Invesco S&P SmallCap Low Volatility ETF (XSLV) and Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) have volatilities of 3.92% and 3.88%, 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.

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Volatility by Period

XSLVGLDIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.92%

3.88%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

8.94%

12.87%

-3.93%

Volatility (1Y)

Calculated over the trailing 1-year period

13.16%

14.57%

-1.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.66%

11.31%

+5.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.93%

11.35%

+8.58%

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 2.61%, less than GLDI's 22.37% yield.

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%
XSLV
Invesco S&P SmallCap Low Volatility ETF		2.61%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 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XSLV has higher volatility (3.92%) compared to GLDI (3.88%). In terms of maximum drawdown, XSLV dropped -44.34% vs GLDI's -32.26%.

On 10-year performance, GLDI leads with 8.99% vs 5.44% for XSLV. On fees, XSLV is cheaper at 0.25% per year. Their volatility is very similar. 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 8.99% return vs 5.44%. 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 22.37%, compared with 2.61% for XSLV.

XSLV is categorized as Volatility Hedged Equity, while GLDI is Precious Metals. 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 Credit Suisse. Their fees differ too: 0.25% for XSLV and 0.65% for GLDI.

GLDI currently has the higher Sharpe Ratio (1.46 vs 0.76), 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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