DULL vs. GDE
DULL (MicroSectors Gold -3X Inverse Leveraged ETN) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - DULL is a Inverse Commodities fund tracking the LBMA Gold Price PM ($/ozt) (-300%), while GDE is a Gold fund actively managed by WisdomTree. DULL is passively managed, while GDE is actively managed. Over the past 3 years, DULL returned -61.47%/yr vs 46.68%/yr for GDE. At a correlation of -0.75, they often move in opposite directions. DULL charges 0.95%/yr vs 0.20%/yr for GDE.
Performance
DULL vs. GDE - Performance Comparison
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Returns By Period
In the year-to-date period, DULL achieves a -29.67% return, which is significantly lower than GDE's 9.79% return.
DULL
- 1D
- 2.86%
- 1M
- 3.73%
- YTD
- -29.67%
- 6M
- -35.43%
- 1Y
- -69.39%
- 3Y*
- -61.47%
- 5Y*
- —
- 10Y*
- —
GDE
- 1D
- -1.35%
- 1M
- 1.88%
- YTD
- 9.79%
- 6M
- 11.87%
- 1Y
- 53.13%
- 3Y*
- 46.68%
- 5Y*
- —
- 10Y*
- —
DULL vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DULL MicroSectors Gold -3X Inverse Leveraged ETN | -29.67% | -80.59% | -51.68% | -29.56% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 9.79% | 73.76% | 44.79% | 28.96% |
Correlation
The correlation between DULL and GDE is -0.86, 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 | -0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2023 | -0.75 |
The correlation between DULL and GDE shifts across timeframes, from -0.86 (1 year) to -0.75 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DULL vs. GDE — Risk / Return Rank
DULL
GDE
DULL vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold -3X Inverse Leveraged ETN (DULL) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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.
| DULL | GDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.77 | ||
| Sortino ratioReturn per unit of downside risk | -3.99 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.34 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 2.36 | -3.20 |
| Martin ratioReturn relative to average drawdown | -1.24 | 7.34 | -8.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DULL | GDE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | 1.88 | -2.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.05 | 1.15 | -2.20 |
Drawdowns
DULL vs. GDE - Drawdown Comparison
The maximum DULL drawdown since its inception was -97.12%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for DULL and GDE.
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Drawdown Indicators
| DULL | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.12% | -32.01% | -65.11% |
Max Drawdown (1Y)Largest decline over 1 year | -81.97% | -22.66% | -59.31% |
Max Drawdown (3Y)Largest decline over 3 years | -97.12% | -22.66% | -74.46% |
Current DrawdownCurrent decline from peak | -95.46% | -11.17% | -84.29% |
Average DrawdownAverage peak-to-trough decline | -59.30% | -7.88% | -51.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.01% | 7.26% | +48.75% |
Volatility
DULL vs. GDE - Volatility Comparison
MicroSectors Gold -3X Inverse Leveraged ETN (DULL) has a higher volatility of 16.82% compared to WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) at 6.65%. This indicates that DULL's price experiences larger fluctuations and is considered to be riskier than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DULL | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.82% | 6.65% | +10.17% |
Volatility (6M)Calculated over the trailing 6-month period | 66.66% | 24.24% | +42.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.11% | 28.39% | +49.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.97% | 26.12% | +31.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.97% | 26.12% | +31.85% |
DULL vs. GDE - Expense Ratio Comparison
DULL has a 0.95% expense ratio, which is higher than GDE's 0.20% expense ratio.
Dividends
DULL vs. GDE - Dividend Comparison
DULL has not paid dividends to shareholders, while GDE's dividend yield for the trailing twelve months is around 3.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DULL MicroSectors Gold -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 3.94% | 4.32% | 7.14% | 2.22% | 0.81% |
Frequently Asked Questions
DULL and GDE have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DULL has higher volatility (16.82%) compared to GDE (6.65%). In terms of maximum drawdown, DULL dropped -97.12% vs GDE's -32.01%.
On 3-year performance, GDE leads with 46.68% vs -61.47% for DULL. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 6.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDE has performed better with a 46.68% return vs -61.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDE is cheaper with a 0.20% expense ratio, compared with 0.95% for DULL.
GDE has the higher dividend yield at 3.94%, compared with 0.00% for DULL.
DULL is categorized as Inverse Commodities, while GDE is Gold. They also come from different issuers: REX and WisdomTree. Their fees differ too: 0.95% for DULL and 0.20% for GDE.
GDE currently has the higher Sharpe Ratio (1.88 vs -0.89), 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.
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