CXSE vs. GDMN

Last updated Jun 4, 2026

CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - CXSE is a China Equities fund tracking the WisdomTree China ex-State-Owned Enterprises Index, while GDMN is a Commodities fund actively managed by WisdomTree. CXSE is passively managed, while GDMN is actively managed. Over the past 3 years, CXSE returned 10.95%/yr vs 60.95%/yr for GDMN. At a 0.30 correlation, their price movements are largely independent. CXSE charges 0.32%/yr vs 0.45%/yr for GDMN.

Performance

CXSE vs. GDMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CXSE achieves a 0.93% return, which is significantly higher than GDMN's -4.13% return.

CXSE

• 1D: -1.05%
• 1M: 0.71%
• YTD: 0.93%
• 6M: 0.61%
• 1Y: 24.36%
• 3Y*: 10.95%
• 5Y*: -8.07%
• 10Y*: 7.43%

GDMN

• 1D: -3.68%
• 1M: -2.43%
• YTD: -4.13%
• 6M: 2.73%
• 1Y: 76.93%
• 3Y*: 60.95%
• 5Y*: —
• 10Y*: —

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

CXSE vs. GDMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CXSE WisdomTree China ex-State-Owned Enterprises Fund	0.93%	37.00%	8.56%	-18.02%	-29.32%	-0.88%
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	-4.13%	237.09%	28.23%	12.97%	-14.62%	5.11%

Correlation

The correlation between CXSE and GDMN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.30

CXSE vs. GDMN - Sectors Allocation Comparison

Sectors	CXSE	GDMN
Consumer Cyclical	26.2%	-
Technology	22.6%	-
Industrials	16.6%	-
Communication Services	10.1%	-
Healthcare	8.8%	-
Financial Services	6.2%	-
Consumer Defensive	3.9%	-
Basic Materials	3.4%	100.0%
Real Estate	0.9%	-
Energy	0.4%	-
Utilities	0.3%	-

Return for Risk

CXSE vs. GDMN — Risk / Return Rank

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

CXSE

CXSE Risk / Return Rank: 28
CXSE Sharpe Ratio Rank: 31
CXSE Sortino Ratio Rank: 30
CXSE Omega Ratio Rank: 30
CXSE Calmar Ratio Rank: 28
CXSE Martin Ratio Rank: 22

GDMN

GDMN Risk / Return Rank: 34
GDMN Sharpe Ratio Rank: 34
GDMN Sortino Ratio Rank: 30
GDMN Omega Ratio Rank: 36
GDMN Calmar Ratio Rank: 39
GDMN Martin Ratio Rank: 31

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.

CXSE vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN). 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.

	CXSE	GDMN	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.26	-0.12
Sortino ratio: Return per unit of downside risk	1.67	1.68	-0.01
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.38	1.98	-0.60
Martin ratio: Return relative to average drawdown	2.90	4.68	-1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CXSE vs. GDMN - Sharpe Ratio Comparison

The current CXSE Sharpe Ratio is 1.14, which is comparable to the GDMN Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of CXSE and GDMN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CXSE	GDMN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.26	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.80	-0.61

Drawdowns

CXSE vs. GDMN - Drawdown Comparison

The maximum CXSE drawdown since its inception was -70.01%, which is greater than GDMN's maximum drawdown of -52.82%. Use the drawdown chart below to compare losses from any high point for CXSE and GDMN.

Drawdown Indicators

	CXSE	GDMN	Difference
Max Drawdown Largest peak-to-trough decline	-70.01%	-52.82%	-17.19%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-39.03%	+21.33%
Max Drawdown (3Y) Largest decline over 3 years	-32.12%	-39.03%	+6.91%
Max Drawdown (5Y) Largest decline over 5 years	-64.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.01%	—	—
Current Drawdown Current decline from peak	-46.01%	-37.06%	-8.95%
Average Drawdown Average peak-to-trough decline	-27.83%	-18.89%	-8.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.42%	16.51%	-8.09%

Volatility

CXSE vs. GDMN - Volatility Comparison

The current volatility for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) is 7.29%, while WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a volatility of 17.94%. This indicates that CXSE experiences smaller price fluctuations and is considered to be less risky than GDMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXSE	GDMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	17.94%	-10.65%
Volatility (6M) Calculated over the trailing 6-month period	14.54%	51.79%	-37.25%
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	61.32%	-39.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.30%	47.59%	-15.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.70%	47.59%	-18.89%

CXSE vs. GDMN - Expense Ratio Comparison

CXSE has a 0.32% expense ratio, which is lower than GDMN's 0.45% expense ratio.

Dividends

CXSE vs. GDMN - Dividend Comparison

CXSE's dividend yield for the trailing twelve months is around 1.99%, less than GDMN's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CXSE WisdomTree China ex-State-Owned Enterprises Fund	1.99%	1.95%	1.70%	1.71%	1.55%	0.86%	0.54%	0.96%	1.49%	1.24%	1.39%	2.50%
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	2.82%	2.70%	9.44%	7.69%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CXSE and GDMN in my portfolio?

CXSE and GDMN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CXSE or GDMN?

GDMN has higher volatility (17.94%) compared to CXSE (7.29%). In terms of maximum drawdown, CXSE dropped -70.01% vs GDMN's -52.82%.

Which ETF is better, CXSE or GDMN?

On 3-year performance, GDMN leads with 60.95% vs 10.95% for CXSE. On fees, CXSE is cheaper at 0.32% per year. On volatility, CXSE has been the lower-risk option at 7.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CXSE or GDMN?

Over the 3-year period, GDMN has performed better with a 60.95% return vs 10.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CXSE or GDMN?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.45% for GDMN.

Which ETF pays a higher dividend yield, CXSE or GDMN?

GDMN has the higher dividend yield at 2.82%, compared with 1.99% for CXSE.

What is the main difference between CXSE and GDMN?

CXSE is categorized as China Equities, while GDMN is Commodities. Their fees differ too: 0.32% for CXSE and 0.45% for GDMN.

Which has better risk-adjusted returns?

GDMN currently has the higher Sharpe Ratio (1.26 vs 1.14), 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.