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EPU vs. GDMN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPU vs. GDMN

Last updated Jun 13, 2026

EPU (iShares MSCI Peru ETF) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index, while GDMN is a Commodities fund actively managed by WisdomTree. EPU is passively managed, while GDMN is actively managed. Over the past 3 years, EPU returned 46.38%/yr vs 56.30%/yr for GDMN. A 0.61 correlation means they provide meaningful diversification when combined. EPU charges 0.59%/yr vs 0.45%/yr for GDMN.

Performance

EPU vs. GDMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Peru ETF (EPU) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EPU achieves a 21.02% return, which is significantly higher than GDMN's -13.77% return.

EPU

1D
2.12%
1M
4.37%
YTD
21.02%
6M
26.87%
1Y
85.51%
3Y*
46.38%
5Y*
28.15%
10Y*
15.16%

GDMN

1D
2.11%
1M
-21.24%
YTD
-13.77%
6M
-13.73%
1Y
51.90%
3Y*
56.30%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EPU vs. GDMN - Yearly Performance Comparison

2026 (YTD)20252024202320222021
EPU
iShares MSCI Peru ETF		21.02%86.87%21.73%25.34%2.05%9.14%
GDMN
WisdomTree Efficient Gold Plus Gold Miners Strategy Fund		-13.77%237.09%28.23%12.97%-14.62%6.93%

Correlation

The correlation between EPU and GDMN is 0.68, 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

0.68

Correlation (3Y)
Calculated over the trailing 3-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Dec 16, 2021

0.61

The correlation between EPU and GDMN has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

EPU vs. GDMN - Sectors Allocation Comparison

Sectors
EPU
GDMN

Basic Materials

52.7%
100.0%

Financial Services

28.8%

-

Consumer Cyclical

4.1%

-

Real Estate

3.2%

-

Consumer Defensive

3.0%

-

Utilities

2.8%

-

Industrials

2.8%

-

Communication Services

1.6%

-

Healthcare

1.2%

-

Energy

-

-

Technology

-

-

Basic Materials

EPU
52.7%
GDMN
100.0%

Financial Services

EPU
28.8%
GDMN

-

Consumer Cyclical

EPU
4.1%
GDMN

-

Real Estate

EPU
3.2%
GDMN

-

Consumer Defensive

EPU
3.0%
GDMN

-

Utilities

EPU
2.8%
GDMN

-

Industrials

EPU
2.8%
GDMN

-

Communication Services

EPU
1.6%
GDMN

-

Healthcare

EPU
1.2%
GDMN

-

Energy

EPU

-

GDMN

-

Technology

EPU

-

GDMN

-

Compare stocks, funds, or ETFs

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iShares MSCI Peru ETF

WisdomTree Efficient Gold Plus Gold Miners Strategy Fund

Often compared with EPU:
EPU vs. ECHEPU vs. ILFEPU vs. ARGTEPU vs. EISEPU vs. EVXEPU vs. EWSEPU vs. EPI
Often compared with GDMN:
GDMN vs. GDXGDMN vs. GDEGDMN vs. GldGDMN vs. GLDGDMN vs. IAUMGDMN vs. IAUGDMN vs. AUMI

Return for Risk

EPU vs. GDMN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EPU
EPU Risk / Return Rank: 8282
Overall Rank
EPU Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
EPU Sortino Ratio Rank: 8181
Sortino Ratio Rank
EPU Omega Ratio Rank: 8383
Omega Ratio Rank
EPU Calmar Ratio Rank: 8585
Calmar Ratio Rank
EPU Martin Ratio Rank: 7272
Martin Ratio Rank
GDMN
GDMN Risk / Return Rank: 2929
Overall Rank
GDMN Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GDMN Sortino Ratio Rank: 2828
Sortino Ratio Rank
GDMN Omega Ratio Rank: 3333
Omega Ratio Rank
GDMN Calmar Ratio Rank: 2727
Calmar Ratio Rank
GDMN Martin Ratio Rank: 2626
Martin Ratio Rank
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.

EPU vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Peru ETF (EPU) 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.

EPUGDMNDifference
Sharpe ratioReturn per unit of total volatility
2.73
0.90

+1.84

Sortino ratioReturn per unit of downside risk
3.14
1.38

+1.77

Omega ratioGain probability vs. loss probability

1.43

1.20

+0.23

Calmar ratioReturn relative to maximum drawdown

4.07

1.17

+2.90

Martin ratioReturn relative to average drawdown

11.73

3.15

+8.58

EPU vs. GDMN - Sharpe Ratio Comparison

The current EPU Sharpe Ratio is 2.73, which is higher than the GDMN Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of EPU 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.

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Drawdowns

EPU vs. GDMN - Drawdown Comparison

The maximum EPU drawdown since its inception was -60.62%, which is greater than GDMN's maximum drawdown of -52.82%. Use the drawdown chart below to compare losses from any high point for EPU and GDMN.

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Drawdown Indicators

EPUGDMNDifference

Max Drawdown

Largest peak-to-trough decline

-60.62%

-52.82%

-7.80%

Max Drawdown (1Y)

Largest decline over 1 year

-20.85%

-48.76%

+27.91%

Max Drawdown (3Y)

Largest decline over 3 years

-20.85%

-48.76%

+27.91%

Max Drawdown (5Y)

Largest decline over 5 years

-35.59%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-50.97%

—

—

Current Drawdown

Current decline from peak

-6.69%

-43.39%

+36.70%

Average Drawdown

Average peak-to-trough decline

-18.81%

-19.02%

+0.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.22%

18.01%

-10.79%

Volatility

EPU vs. GDMN - Volatility Comparison

The current volatility for iShares MSCI Peru ETF (EPU) is 13.52%, while WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a volatility of 21.98%. This indicates that EPU 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.

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Volatility by Period

EPUGDMNDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.52%

21.98%

-8.46%

Volatility (6M)

Calculated over the trailing 6-month period

26.94%

54.30%

-27.36%

Volatility (1Y)

Calculated over the trailing 1-year period

31.04%

63.44%

-32.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.11%

48.07%

-22.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.64%

48.07%

-24.43%

EPU vs. GDMN - Expense Ratio Comparison

EPU has a 0.59% expense ratio, which is higher than GDMN's 0.45% expense ratio.

Dividends

EPU vs. GDMN - Dividend Comparison

EPU's dividend yield for the trailing twelve months is around 1.35%, less than GDMN's 3.13% yield.

PositionTTM20252024202320222021202020192018201720162015
EPU
iShares MSCI Peru ETF		1.35%1.63%5.78%4.17%5.56%3.13%1.91%2.67%1.53%3.30%0.85%1.90%
GDMN
WisdomTree Efficient Gold Plus Gold Miners Strategy Fund		3.13%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

EPU and GDMN have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GDMN has higher volatility (21.98%) compared to EPU (13.52%). In terms of maximum drawdown, EPU dropped -60.62% vs GDMN's -52.82%.

On 3-year performance, GDMN leads with 56.30% vs 46.38% for EPU. On fees, GDMN is cheaper at 0.45% per year. On volatility, EPU has been the lower-risk option at 13.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, GDMN has performed better with a 56.30% return vs 46.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GDMN is cheaper with a 0.45% expense ratio, compared with 0.59% for EPU.

GDMN has the higher dividend yield at 3.13%, compared with 1.35% for EPU.

EPU is categorized as Mid Cap Blend Equities, while GDMN is Commodities. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.59% for EPU and 0.45% for GDMN.

EPU currently has the higher Sharpe Ratio (2.73 vs 0.90), 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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