DFE vs. GDMN

Last updated Jun 4, 2026

DFE (WisdomTree Europe SmallCap Dividend Fund) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - DFE is a Europe Equities fund tracking the WisdomTree Europe SmallCap Dividend Index, while GDMN is a Commodities fund actively managed by WisdomTree. DFE is passively managed, while GDMN is actively managed. Over the past 3 years, DFE returned 14.44%/yr vs 60.95%/yr for GDMN. At a 0.41 correlation, their price movements are largely independent. DFE charges 0.58%/yr vs 0.45%/yr for GDMN.

Performance

DFE vs. GDMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Europe SmallCap Dividend Fund (DFE) 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, DFE achieves a 5.19% return, which is significantly higher than GDMN's -4.13% return.

DFE

• 1D: -1.08%
• 1M: 1.12%
• YTD: 5.19%
• 6M: 8.60%
• 1Y: 14.01%
• 3Y*: 14.44%
• 5Y*: 4.05%
• 10Y*: 6.78%

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)

DFE vs. GDMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFE WisdomTree Europe SmallCap Dividend Fund	5.19%	32.85%	-0.61%	14.94%	-22.15%	5.10%
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 DFE and GDMN is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.41

DFE vs. GDMN - Sectors Allocation Comparison

Sectors	DFE	GDMN
Industrials	25.3%	-
Financial Services	9.7%	-
Consumer Cyclical	9.5%	-
Basic Materials	7.5%	100.0%
Technology	7.1%	-
Energy	6.9%	-
Real Estate	6.3%	-
Communication Services	5.5%	-
Consumer Defensive	4.3%	-
Healthcare	3.5%	-
Utilities	3.5%	-

Return for Risk

DFE vs. GDMN — Risk / Return Rank

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

DFE

DFE Risk / Return Rank: 27
DFE Sharpe Ratio Rank: 27
DFE Sortino Ratio Rank: 26
DFE Omega Ratio Rank: 26
DFE Calmar Ratio Rank: 26
DFE Martin Ratio Rank: 29

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.

DFE vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe SmallCap Dividend Fund (DFE) 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.

	DFE	GDMN	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.26	-0.30
Sortino ratio: Return per unit of downside risk	1.43	1.68	-0.25
Omega ratio: Gain probability vs. loss probability	1.18	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	1.23	1.98	-0.75
Martin ratio: Return relative to average drawdown	4.24	4.68	-0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFE vs. GDMN - Sharpe Ratio Comparison

The current DFE Sharpe Ratio is 0.96, which is comparable to the GDMN Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of DFE 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

	DFE	GDMN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.26	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.80	-0.51

Drawdowns

DFE vs. GDMN - Drawdown Comparison

The maximum DFE drawdown since its inception was -69.38%, which is greater than GDMN's maximum drawdown of -52.82%. Use the drawdown chart below to compare losses from any high point for DFE and GDMN.

Drawdown Indicators

	DFE	GDMN	Difference
Max Drawdown Largest peak-to-trough decline	-69.38%	-52.82%	-16.56%
Max Drawdown (1Y) Largest decline over 1 year	-11.41%	-39.03%	+27.62%
Max Drawdown (3Y) Largest decline over 3 years	-16.41%	-39.03%	+22.62%
Max Drawdown (5Y) Largest decline over 5 years	-40.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.66%	—	—
Current Drawdown Current decline from peak	-3.11%	-37.06%	+33.95%
Average Drawdown Average peak-to-trough decline	-17.73%	-18.89%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	16.51%	-13.20%

Volatility

DFE vs. GDMN - Volatility Comparison

The current volatility for WisdomTree Europe SmallCap Dividend Fund (DFE) is 5.06%, while WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a volatility of 17.94%. This indicates that DFE 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

	DFE	GDMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	17.94%	-12.88%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	51.79%	-39.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	61.32%	-46.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	47.59%	-28.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	47.59%	-27.82%

DFE vs. GDMN - Expense Ratio Comparison

DFE has a 0.58% expense ratio, which is higher than GDMN's 0.45% expense ratio.

Dividends

DFE vs. GDMN - Dividend Comparison

DFE's dividend yield for the trailing twelve months is around 3.89%, more than GDMN's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFE WisdomTree Europe SmallCap Dividend Fund	3.89%	4.38%	4.93%	4.97%	5.84%	2.56%	2.43%	3.39%	4.97%	2.53%	4.05%	2.78%
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 DFE and GDMN in my portfolio?

DFE and GDMN have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFE or GDMN?

GDMN has higher volatility (17.94%) compared to DFE (5.06%). In terms of maximum drawdown, DFE dropped -69.38% vs GDMN's -52.82%.

Which ETF is better, DFE or GDMN?

On 3-year performance, GDMN leads with 60.95% vs 14.44% for DFE. On fees, GDMN is cheaper at 0.45% per year. On volatility, DFE has been the lower-risk option at 5.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFE or GDMN?

Over the 3-year period, GDMN has performed better with a 60.95% return vs 14.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFE or GDMN?

GDMN is cheaper with a 0.45% expense ratio, compared with 0.58% for DFE.

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

DFE has the higher dividend yield at 3.89%, compared with 2.82% for GDMN.

What is the main difference between DFE and GDMN?

DFE is categorized as Europe Equities, while GDMN is Commodities. Their fees differ too: 0.58% for DFE and 0.45% for GDMN.

Which has better risk-adjusted returns?

GDMN currently has the higher Sharpe Ratio (1.26 vs 0.96), 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.