EWY vs. GDE
EWY (iShares MSCI South Korea ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - EWY is a South Korea Equities fund tracking the MSCI Korea Index, while GDE is a Gold fund actively managed by WisdomTree. EWY is passively managed, while GDE is actively managed. Over the past 3 years, EWY returned 38.38%/yr vs 39.14%/yr for GDE. A 0.55 correlation means they provide meaningful diversification when combined. EWY charges 0.59%/yr vs 0.20%/yr for GDE.
Performance
EWY vs. GDE - Performance Comparison
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Returns By Period
In the year-to-date period, EWY achieves a 67.52% return, which is significantly higher than GDE's -1.30% return.
EWY
- 1D
- 0.20%
- 1M
- -25.70%
- 6M
- 45.13%
- YTD
- 67.52%
- 1Y
- 130.03%
- 3Y*
- 38.38%
- 5Y*
- 15.11%
- 10Y*
- 13.73%
- ALL TIME*
- 9.80%
GDE
- 1D
- -0.20%
- 1M
- -4.95%
- 6M
- -7.43%
- YTD
- -1.30%
- 1Y
- 32.45%
- 3Y*
- 39.14%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 29.17%
EWY vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EWY iShares MSCI South Korea ETF | 67.52% | 95.33% | -20.48% | 19.05% | -18.94% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | -1.30% | 73.76% | 44.79% | 33.85% | -8.58% |
Correlation
The correlation between EWY and GDE is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.55 |
The correlation between EWY and GDE has been stable across timeframes, ranging from 0.51 to 0.55 - a consistent structural relationship.
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Return for Risk
EWY vs. GDE — Risk / Return Rank
EWY
GDE
EWY vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) 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.
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.
| EWY | GDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.21 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 5.06 | 1.44 | +3.62 |
| Martin ratioReturn relative to average drawdown | 16.04 | 3.38 | +12.65 |
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Drawdowns
EWY vs. GDE - Drawdown Comparison
The maximum EWY drawdown since its inception was -74.14%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for EWY and GDE.
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Drawdown Indicators
| EWY | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.14% | -32.01% | -42.13% |
Max Drawdown (1Y)Largest decline over 1 year | -25.85% | -22.66% | -3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -27.36% | -22.66% | -4.70% |
Max Drawdown (5Y)Largest decline over 5 years | -47.15% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.73% | — | — |
Current DrawdownCurrent decline from peak | -25.70% | -20.14% | -5.56% |
Average DrawdownAverage peak-to-trough decline | -20.09% | -8.16% | -11.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.14% | 9.62% | -1.48% |
Volatility
EWY vs. GDE - Volatility Comparison
iShares MSCI South Korea ETF (EWY) has a higher volatility of 22.94% compared to WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) at 7.43%. This indicates that EWY'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
| EWY | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.94% | 7.43% | +15.51% |
Volatility (6M)Calculated over the trailing 6-month period | 48.48% | 26.34% | +22.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.71% | 30.85% | +20.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.91% | 27.10% | +4.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.90% | 27.10% | +1.80% |
EWY vs. GDE - Expense Ratio Comparison
EWY has a 0.59% expense ratio, which is higher than GDE's 0.20% expense ratio.
Dividends
EWY vs. GDE - Dividend Comparison
EWY's dividend yield for the trailing twelve months is around 1.25%, less than GDE's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWY iShares MSCI South Korea ETF | 1.25% | 2.10% | 2.55% | 2.52% | 1.23% | 2.16% | 0.73% | 2.10% | 1.34% | 2.90% | 1.21% | 2.42% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.38% | 4.32% | 7.14% | 2.22% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWY and GDE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWY has higher volatility (22.94%) compared to GDE (7.43%). In terms of maximum drawdown, EWY dropped -74.14% vs GDE's -32.01%.
On 3-year performance, GDE leads with 39.14% vs 38.38% for EWY. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 7.43%. 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 39.14% return vs 38.38%. 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 0.59% for EWY.
GDE has the higher dividend yield at 4.38%, compared with 1.25% for EWY.
EWY is categorized as South Korea Equities, while GDE is Gold. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.59% for EWY and 0.20% for GDE.
EWY currently has the higher Sharpe Ratio (2.53 vs 1.06), 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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