DBEF vs. GDMA

Last updated Jun 4, 2026

DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and GDMA (Gadsden Dynamic Multi-Asset ETF) are both Hedge Fund funds. DBEF is passively managed, while GDMA is actively managed. Over the past 5 years, DBEF returned 13.11%/yr vs 7.66%/yr for GDMA. At a 0.40 correlation, their price movements are largely independent. DBEF charges 0.36%/yr vs 0.77%/yr for GDMA.

Performance

DBEF vs. GDMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and Gadsden Dynamic Multi-Asset ETF (GDMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBEF achieves a 10.25% return, which is significantly lower than GDMA's 11.18% return.

DBEF

• 1D: -0.47%
• 1M: 4.76%
• YTD: 10.25%
• 6M: 12.54%
• 1Y: 24.51%
• 3Y*: 17.72%
• 5Y*: 13.11%
• 10Y*: 12.12%

GDMA

• 1D: 0.30%
• 1M: 1.83%
• YTD: 11.18%
• 6M: 14.08%
• 1Y: 32.26%
• 3Y*: 16.91%
• 5Y*: 7.66%
• 10Y*: —

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

DBEF vs. GDMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	10.25%	23.16%	13.40%	20.15%	-5.13%	19.60%	2.03%	24.94%	-6.39%
GDMA Gadsden Dynamic Multi-Asset ETF	11.18%	25.29%	7.44%	1.72%	-2.08%	3.95%	21.08%	11.59%	-3.93%

Correlation

The correlation between DBEF and GDMA is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018	0.40

The correlation between DBEF and GDMA shifts across timeframes, from 0.33 (5 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.

DBEF vs. GDMA - Sectors Allocation Comparison

Sectors	DBEF	GDMA
Financial Services	24.6%	14.5%
Industrials	19.9%	14.4%
Healthcare	10.5%	5.5%
Technology	10.3%	23.4%
Consumer Cyclical	7.5%	8.8%
Consumer Defensive	6.8%	3.5%
Basic Materials	5.9%	9.0%
Communication Services	4.5%	7.0%
Energy	4.1%	10.0%
Utilities	3.9%	2.4%
Real Estate	1.9%	1.6%

Return for Risk

DBEF vs. GDMA — Risk / Return Rank

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

DBEF

DBEF Risk / Return Rank: 57
DBEF Sharpe Ratio Rank: 57
DBEF Sortino Ratio Rank: 58
DBEF Omega Ratio Rank: 59
DBEF Calmar Ratio Rank: 52
DBEF Martin Ratio Rank: 60

GDMA

GDMA Risk / Return Rank: 74
GDMA Sharpe Ratio Rank: 75
GDMA Sortino Ratio Rank: 70
GDMA Omega Ratio Rank: 77
GDMA Calmar Ratio Rank: 82
GDMA Martin Ratio Rank: 65

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.

DBEF vs. GDMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and Gadsden Dynamic Multi-Asset ETF (GDMA). 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.

	DBEF	GDMA	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.47	-0.48
Sortino ratio: Return per unit of downside risk	2.80	3.21	-0.40
Omega ratio: Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio: Return relative to maximum drawdown	2.62	4.30	-1.69
Martin ratio: Return relative to average drawdown	11.01	11.92	-0.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBEF vs. GDMA - Sharpe Ratio Comparison

The current DBEF Sharpe Ratio is 1.99, which is comparable to the GDMA Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of DBEF and GDMA, 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

	DBEF	GDMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	2.47	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.80	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.89	-0.34

Drawdowns

DBEF vs. GDMA - Drawdown Comparison

The maximum DBEF drawdown since its inception was -32.46%, which is greater than GDMA's maximum drawdown of -16.66%. Use the drawdown chart below to compare losses from any high point for DBEF and GDMA.

Drawdown Indicators

	DBEF	GDMA	Difference
Max Drawdown Largest peak-to-trough decline	-32.46%	-16.66%	-15.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-7.53%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	-7.53%	-7.09%
Max Drawdown (5Y) Largest decline over 5 years	-14.95%	-12.74%	-2.21%
Max Drawdown (10Y) Largest decline over 10 years	-32.46%	—	—
Current Drawdown Current decline from peak	-0.47%	-1.06%	+0.59%
Average Drawdown Average peak-to-trough decline	-4.74%	-3.78%	-0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	2.71%	-0.48%

Volatility

DBEF vs. GDMA - Volatility Comparison

The current volatility for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) is 3.99%, while Gadsden Dynamic Multi-Asset ETF (GDMA) has a volatility of 6.18%. This indicates that DBEF experiences smaller price fluctuations and is considered to be less risky than GDMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBEF	GDMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	6.18%	-2.19%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	10.03%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	13.12%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.74%	9.67%	+4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	10.97%	+4.82%

DBEF vs. GDMA - Expense Ratio Comparison

DBEF has a 0.36% expense ratio, which is lower than GDMA's 0.77% expense ratio.

Dividends

DBEF vs. GDMA - Dividend Comparison

DBEF's dividend yield for the trailing twelve months is around 5.03%, more than GDMA's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	5.03%	5.55%	1.29%	4.46%	15.85%	2.28%	2.41%	3.03%	3.22%	2.98%	2.55%	3.70%
GDMA Gadsden Dynamic Multi-Asset ETF	2.51%	2.79%	2.32%	4.14%	1.18%	2.10%	0.62%	3.17%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBEF and GDMA in my portfolio?

DBEF and GDMA have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBEF or GDMA?

GDMA has higher volatility (6.18%) compared to DBEF (3.99%). In terms of maximum drawdown, DBEF dropped -32.46% vs GDMA's -16.66%.

Which ETF is better, DBEF or GDMA?

On 5-year performance, DBEF leads with 13.11% vs 7.66% for GDMA. On fees, DBEF is cheaper at 0.36% per year. On volatility, DBEF has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEF or GDMA?

Over the 5-year period, DBEF has performed better with a 13.11% return vs 7.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEF or GDMA?

DBEF is cheaper with a 0.36% expense ratio, compared with 0.77% for GDMA.

Which ETF pays a higher dividend yield, DBEF or GDMA?

DBEF has the higher dividend yield at 5.03%, compared with 2.51% for GDMA.

What is the main difference between DBEF and GDMA?

They also come from different issuers: DWS and Gadsden. Their fees differ too: 0.36% for DBEF and 0.77% for GDMA.

Which has better risk-adjusted returns?

GDMA currently has the higher Sharpe Ratio (2.47 vs 1.99), 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.