GLDI vs SPY
ETRACS Gold Shares Covered Call ETN vs State Street SPDR S&P 500 ETF Trust
Which is better, GLDI or SPY?
Gold against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | GLDI | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $181M | $823.2B |
| Dividend Yield | 22.20% | 0.99% |
| Holdings | - | 1,515 |
| YTD Return | -3.32% | +13.53%Best |
| 1Y Return | +2.72% | +17.47%Best |
| 3Y Return (annualized) | +18.25% | +22.36%Best |
| 5Y Return (annualized) | +11.08% | +13.21%Best |
| Volatility (annualized) | 11.0%Best | 16.3% |
| Max Drawdown | -19.6%Best | -34.1% |
| $10,000 over 5 years | $16,911 | $18,596Best |
| Fund Family | UBS AG | State Street Investment Management |
| Category | Commodity | Equity |
| Style | Gold | Large Cap Blend |
| Inception | Jan 29, 2013 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 22, 2018 to Oct 14, 2026 (8.6 years).
GLDI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.6 years both funds cover.
GLDI vs SPY Performance
ETRACS Gold Shares Covered Call ETN (GLDI) is an ETF from UBS AG and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GLDI returned +2.72% while SPY returned +17.47%. Year to date, GLDI is down 3.32% versus a gain of 13.53% for SPY.
Over three years, GLDI compounded at +18.25% per year against +22.36% for SPY; over five years the annualized figures are +11.08% and +13.21% respectively. Across the full 9-year window we track, SPY has the edge at +13.87% annualized vs +6.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.3% compared with 11.0% for GLDI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.6% for GLDI and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.18. They move largely independently of each other.
Fees and Cost Over Time
GLDI charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, GLDI currently yields 22.20% against 0.99% for SPY.
You are not choosing between two funds in isolation.
Whichever of GLDI and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GLDI or SPY?
GLDI has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, GLDI or SPY?
Over the past year GLDI returned +2.72% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), GLDI annualized +6.29% vs +13.87% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GLDI or SPY?
SPY has been the more volatile fund at 16.3% annualized versus 11.0% for GLDI. Worst drawdown: GLDI -19.6% vs SPY -34.1%.
Should I hold both GLDI and SPY?
GLDI and SPY have a monthly-return correlation of 0.18, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GLDI or SPY?
GLDI yields 22.20% while SPY yields 0.99%, so GLDI currently pays the higher dividend yield.
Is SPY better than GLDI?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.