GAA vs. NTSE

Last updated Jun 4, 2026

GAA (Cambria Global Asset Allocation ETF) and NTSE (WisdomTree Emerging Markets Efficient Core Fund) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, GAA returned 6.37%/yr vs 6.43%/yr for NTSE. A 0.55 correlation means they provide meaningful diversification when combined. GAA charges 0.41%/yr vs 0.38%/yr for NTSE.

Performance

GAA vs. NTSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Global Asset Allocation ETF (GAA) and WisdomTree Emerging Markets Efficient Core Fund (NTSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAA achieves a 9.39% return, which is significantly lower than NTSE's 32.02% return.

GAA

• 1D: -0.66%
• 1M: 1.35%
• YTD: 9.39%
• 6M: 11.23%
• 1Y: 22.62%
• 3Y*: 14.43%
• 5Y*: 6.37%
• 10Y*: 7.72%

NTSE

• 1D: -1.17%
• 1M: 11.32%
• YTD: 32.02%
• 6M: 34.98%
• 1Y: 64.08%
• 3Y*: 25.03%
• 5Y*: 6.43%
• 10Y*: —

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

GAA vs. NTSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GAA Cambria Global Asset Allocation ETF	9.39%	18.76%	6.67%	7.65%	-8.47%	2.65%
NTSE WisdomTree Emerging Markets Efficient Core Fund	32.02%	36.29%	4.42%	9.47%	-26.31%	-5.66%

Correlation

The correlation between GAA and NTSE is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since May 21, 2021	0.55

The correlation between GAA and NTSE has been stable across timeframes, ranging from 0.52 to 0.55 - a consistent structural relationship.

GAA vs. NTSE - Sectors Allocation Comparison

Sectors	GAA	NTSE
Financial Services	17.5%	2.1%
Industrials	14.2%	0.2%
Real Estate	13.9%	0.1%
Energy	13.2%	0.1%
Basic Materials	9.7%	0.5%
Technology	8.7%	0.8%
Consumer Cyclical	8.5%	2.2%
Communication Services	4.0%	1.8%
Utilities	3.8%	0.0%
Consumer Defensive	3.5%	0.3%
Healthcare	3.2%	0.2%

Return for Risk

GAA vs. NTSE — Risk / Return Rank

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

GAA

GAA Risk / Return Rank: 76
GAA Sharpe Ratio Rank: 75
GAA Sortino Ratio Rank: 77
GAA Omega Ratio Rank: 76
GAA Calmar Ratio Rank: 77
GAA Martin Ratio Rank: 77

NTSE

NTSE Risk / Return Rank: 87
NTSE Sharpe Ratio Rank: 90
NTSE Sortino Ratio Rank: 88
NTSE Omega Ratio Rank: 89
NTSE Calmar Ratio Rank: 83
NTSE Martin Ratio Rank: 84

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.

GAA vs. NTSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Global Asset Allocation ETF (GAA) and WisdomTree Emerging Markets Efficient Core Fund (NTSE). 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.

	GAA	NTSE	Difference
Sharpe ratio Return per unit of total volatility	2.48	3.11	-0.63
Sortino ratio Return per unit of downside risk	3.50	4.07	-0.57
Omega ratio Gain probability vs. loss probability	1.46	1.57	-0.11
Calmar ratio Return relative to maximum drawdown	3.93	4.54	-0.61
Martin ratio Return relative to average drawdown	15.04	17.57	-2.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAA vs. NTSE - Sharpe Ratio Comparison

The current GAA Sharpe Ratio is 2.48, which is comparable to the NTSE Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of GAA and NTSE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GAA	NTSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	3.11	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.34	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.38	+0.25

Drawdowns

GAA vs. NTSE - Drawdown Comparison

The maximum GAA drawdown since its inception was -26.57%, smaller than the maximum NTSE drawdown of -42.84%. Use the drawdown chart below to compare losses from any high point for GAA and NTSE.

Drawdown Indicators

	GAA	NTSE	Difference
Max Drawdown Largest peak-to-trough decline	-26.57%	-42.84%	+16.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.78%	-14.20%	+8.42%
Max Drawdown (3Y) Largest decline over 3 years	-7.18%	-18.73%	+11.55%
Max Drawdown (5Y) Largest decline over 5 years	-18.47%	-42.84%	+24.37%
Max Drawdown (10Y) Largest decline over 10 years	-26.57%	—	—
Current Drawdown Current decline from peak	-0.66%	-1.17%	+0.51%
Average Drawdown Average peak-to-trough decline	-3.85%	-19.74%	+15.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	3.66%	-2.15%

Volatility

GAA vs. NTSE - Volatility Comparison

The current volatility for Cambria Global Asset Allocation ETF (GAA) is 2.60%, while WisdomTree Emerging Markets Efficient Core Fund (NTSE) has a volatility of 9.08%. This indicates that GAA experiences smaller price fluctuations and is considered to be less risky than NTSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAA	NTSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	9.08%	-6.48%
Volatility (6M) Calculated over the trailing 6-month period	7.41%	18.18%	-10.77%
Volatility (1Y) Calculated over the trailing 1-year period	9.19%	20.73%	-11.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.28%	19.26%	-7.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.09%	19.23%	-8.14%

GAA vs. NTSE - Expense Ratio Comparison

GAA has a 0.41% expense ratio, which is higher than NTSE's 0.38% expense ratio.

Dividends

GAA vs. NTSE - Dividend Comparison

GAA's dividend yield for the trailing twelve months is around 3.59%, more than NTSE's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAA Cambria Global Asset Allocation ETF	3.59%	4.24%	3.88%	3.73%	6.05%	4.21%	2.73%	3.32%	3.01%	2.36%	2.82%	2.49%
NTSE WisdomTree Emerging Markets Efficient Core Fund	2.51%	3.35%	3.23%	2.44%	3.22%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GAA and NTSE in my portfolio?

GAA and NTSE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAA or NTSE?

NTSE has higher volatility (9.08%) compared to GAA (2.60%). In terms of maximum drawdown, GAA dropped -26.57% vs NTSE's -42.84%.

Which ETF is better, GAA or NTSE?

On 5-year performance, NTSE leads with 6.43% vs 6.37% for GAA. On fees, NTSE is cheaper at 0.38% per year. On volatility, GAA has been the lower-risk option at 2.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GAA or NTSE?

Over the 5-year period, NTSE has performed better with a 6.43% return vs 6.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GAA or NTSE?

NTSE is cheaper with a 0.38% expense ratio, compared with 0.41% for GAA.

Which ETF pays a higher dividend yield, GAA or NTSE?

GAA has the higher dividend yield at 3.59%, compared with 2.51% for NTSE.

What is the main difference between GAA and NTSE?

They also come from different issuers: Cambria and WisdomTree. Their fees differ too: 0.41% for GAA and 0.38% for NTSE.

Which has better risk-adjusted returns?

NTSE currently has the higher Sharpe Ratio (3.11 vs 2.48), 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.