DWM vs. GDMN

Last updated Jul 14, 2026

DWM (WisdomTree International Equity Fund) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - DWM is a Foreign Large Cap Equities fund tracking the WisdomTree International Equity Index, while GDMN is a Commodities fund actively managed by WisdomTree. DWM is passively managed, while GDMN is actively managed. Over the past 3 years, DWM returned 16.54%/yr vs 48.33%/yr for GDMN. At a 0.45 correlation, their price movements are largely independent. DWM charges 0.48%/yr vs 0.45%/yr for GDMN.

Performance

DWM vs. GDMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International Equity Fund (DWM) 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, DWM achieves a 8.22% return, which is significantly higher than GDMN's -24.20% return.

DWM

• 1D: -0.91%
• 1M: 0.02%
• 6M: 4.95%
• YTD: 8.22%
• 1Y: 18.52%
• 3Y*: 16.54%
• 5Y*: 9.90%
• 10Y*: 8.63%

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)

DWM vs. GDMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DWM WisdomTree International Equity Fund	8.22%	34.83%	4.15%	16.63%	-9.04%	1.85%
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 DWM and GDMN is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.45

The correlation between DWM and GDMN has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.

DWM vs. GDMN - Sectors Allocation Comparison

Sectors	DWM	GDMN
Industrials	18.9%	-
Financial Services	18.1%	-
Consumer Cyclical	9.6%	-
Healthcare	8.1%	-
Technology	7.7%	-
Consumer Defensive	6.9%	-
Basic Materials	5.5%	100.0%
Utilities	5.2%	-
Communication Services	4.7%	-
Energy	3.8%	-
Real Estate	2.8%	-

Return for Risk

DWM vs. GDMN — Risk / Return Rank

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

DWM

DWM Risk / Return Rank: 45
DWM Sharpe Ratio Rank: 46
DWM Sortino Ratio Rank: 46
DWM Omega Ratio Rank: 47
DWM Calmar Ratio Rank: 42
DWM Martin Ratio Rank: 46

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.

DWM vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International Equity Fund (DWM) 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.

	DWM	GDMN	Difference
Sharpe ratio: Return per unit of total volatility	1.28	0.66	+0.62
Sortino ratio: Return per unit of downside risk	1.89	1.17	+0.72
Omega ratio: Gain probability vs. loss probability	1.24	1.16	+0.08
Calmar ratio: Return relative to maximum drawdown	1.70	0.85	+0.86
Martin ratio: Return relative to average drawdown	6.10	1.94	+4.16

DWM vs. GDMN - Sharpe Ratio Comparison

The current DWM Sharpe Ratio is 1.28, which is higher than the GDMN Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of DWM 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

DWM vs. GDMN - Drawdown Comparison

The maximum DWM drawdown since its inception was -62.10%, which is greater than GDMN's maximum drawdown of -52.82%. Use the drawdown chart below to compare losses from any high point for DWM and GDMN.

Drawdown Indicators

	DWM	GDMN	Difference
Max Drawdown Largest peak-to-trough decline	-62.10%	-52.82%	-9.28%
Max Drawdown (1Y) Largest decline over 1 year	-10.93%	-50.24%	+39.31%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-50.24%	+37.55%
Max Drawdown (5Y) Largest decline over 5 years	-25.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.82%	—	—
Current Drawdown Current decline from peak	-2.13%	-50.24%	+48.11%
Average Drawdown Average peak-to-trough decline	-13.44%	-19.47%	+6.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	21.89%	-18.84%

Volatility

DWM vs. GDMN - Volatility Comparison

The current volatility for WisdomTree International Equity Fund (DWM) is 4.01%, while WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a volatility of 19.22%. This indicates that DWM 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

	DWM	GDMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	19.22%	-15.21%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	54.87%	-42.39%
Volatility (1Y) Calculated over the trailing 1-year period	14.53%	64.65%	-50.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.32%	48.33%	-33.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.25%	48.33%	-32.08%

DWM vs. GDMN - Expense Ratio Comparison

DWM has a 0.48% expense ratio, which is higher than GDMN's 0.45% expense ratio.

Dividends

DWM vs. GDMN - Dividend Comparison

DWM's dividend yield for the trailing twelve months is around 2.77%, less than GDMN's 3.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWM WisdomTree International Equity Fund	2.77%	3.06%	3.86%	4.15%	4.36%	3.64%	2.74%	3.46%	3.86%	2.99%	3.43%	3.55%
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 DWM and GDMN in my portfolio?

DWM and GDMN have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DWM or GDMN?

GDMN has higher volatility (19.22%) compared to DWM (4.01%). In terms of maximum drawdown, DWM dropped -62.10% vs GDMN's -52.82%.

Which ETF is better, DWM or GDMN?

On 3-year performance, GDMN leads with 48.33% vs 16.54% for DWM. On fees, GDMN is cheaper at 0.45% per year. On volatility, DWM has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWM or GDMN?

Over the 3-year period, GDMN has performed better with a 48.33% return vs 16.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWM or GDMN?

GDMN is cheaper with a 0.45% expense ratio, compared with 0.48% for DWM.

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

GDMN has the higher dividend yield at 3.56%, compared with 2.77% for DWM.

What is the main difference between DWM and GDMN?

DWM is categorized as Foreign Large Cap Equities, while GDMN is Commodities. Their fees differ too: 0.48% for DWM and 0.45% for GDMN.

Which has better risk-adjusted returns?

DWM currently has the higher Sharpe Ratio (1.28 vs 0.66), 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.