DGICA vs. GDMN

Last updated Jul 14, 2026

DGICA (Donegal Group Inc.) is a stock, while GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) is Commodities fund actively managed by WisdomTree. Over the past 3 years, DGICA returned 15.46%/yr vs 48.33%/yr for GDMN. At a correlation of -0.01, they often move in opposite directions.

Performance

DGICA vs. GDMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Donegal Group Inc. (DGICA) 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, DGICA achieves a -2.15% return, which is significantly higher than GDMN's -24.20% return.

DGICA

• 1D: 1.43%
• 1M: 8.69%
• 6M: -1.51%
• YTD: -2.15%
• 1Y: 9.16%
• 3Y*: 15.46%
• 5Y*: 9.53%
• 10Y*: 5.84%

GDMN

• 1D: -4.67%
• 1M: -12.10%
• 6M: -35.06%
• YTD: -24.20%
• 1Y: 42.34%
• 3Y*: 48.33%
• 5Y*: —
• 10Y*: —

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

DGICA vs. GDMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DGICA Donegal Group Inc.	-2.15%	34.64%	15.93%	3.15%	4.02%	-0.69%
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	-24.20%	237.09%	28.23%	12.97%	-14.62%	6.93%

Correlation

The correlation between DGICA and GDMN is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	-0.01

The correlation between DGICA and GDMN shifts across timeframes, from -0.14 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DGICA vs. GDMN — Risk / Return Rank

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

DGICA

DGICA Risk / Return Rank: 55
DGICA Sharpe Ratio Rank: 59
DGICA Sortino Ratio Rank: 52
DGICA Omega Ratio Rank: 51
DGICA Calmar Ratio Rank: 56
DGICA Martin Ratio Rank: 56

GDMN

GDMN Risk / Return Rank: 24
GDMN Sharpe Ratio Rank: 23
GDMN Sortino Ratio Rank: 25
GDMN Omega Ratio Rank: 29
GDMN Calmar Ratio Rank: 23
GDMN Martin Ratio Rank: 20

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.

DGICA vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Donegal Group Inc. (DGICA) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DGICA	GDMN	Difference
Sharpe ratio: Return per unit of total volatility	0.39	0.66	-0.27
Sortino ratio: Return per unit of downside risk	0.70	1.17	-0.48
Omega ratio: Gain probability vs. loss probability	1.09	1.16	-0.08
Calmar ratio: Return relative to maximum drawdown	0.45	0.85	-0.40
Martin ratio: Return relative to average drawdown	0.85	1.94	-1.09

DGICA vs. GDMN - Sharpe Ratio Comparison

The current DGICA Sharpe Ratio is 0.39, which is lower than the GDMN Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of DGICA 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.

Drawdowns

DGICA vs. GDMN - Drawdown Comparison

The maximum DGICA drawdown since its inception was -43.36%, smaller than the maximum GDMN drawdown of -52.82%. Use the drawdown chart below to compare losses from any high point for DGICA and GDMN.

Drawdown Indicators

	DGICA	GDMN	Difference
Max Drawdown Largest peak-to-trough decline	-43.36%	-52.82%	+9.46%
Max Drawdown (1Y) Largest decline over 1 year	-20.43%	-50.24%	+29.81%
Max Drawdown (3Y) Largest decline over 3 years	-20.43%	-50.24%	+29.81%
Max Drawdown (5Y) Largest decline over 5 years	-22.31%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.23%	—	—
Current Drawdown Current decline from peak	-6.68%	-50.24%	+43.56%
Average Drawdown Average peak-to-trough decline	-14.18%	-19.47%	+5.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.75%	21.89%	-11.14%

Volatility

DGICA vs. GDMN - Volatility Comparison

The current volatility for Donegal Group Inc. (DGICA) is 6.26%, while WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a volatility of 19.22%. This indicates that DGICA 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

	DGICA	GDMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	19.22%	-12.96%
Volatility (6M) Calculated over the trailing 6-month period	17.16%	54.87%	-37.71%
Volatility (1Y) Calculated over the trailing 1-year period	23.71%	64.65%	-40.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.32%	48.33%	-25.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	48.33%	-22.90%

Dividends

DGICA vs. GDMN - Dividend Comparison

DGICA's dividend yield for the trailing twelve months is around 3.87%, more than GDMN's 3.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGICA Donegal Group Inc.	3.87%	3.60%	4.44%	4.82%	4.61%	4.41%	4.23%	3.90%	4.16%	3.22%	3.13%	3.81%
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	3.56%	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 DGICA and GDMN in my portfolio?

DGICA and GDMN have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGICA or GDMN?

GDMN has higher volatility (19.22%) compared to DGICA (6.26%). In terms of maximum drawdown, DGICA dropped -43.36% vs GDMN's -52.82%.

Which has better risk-adjusted returns?

GDMN currently has the higher Sharpe Ratio (0.66 vs 0.39), 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.