GDE vs. GLDY

Last updated Jun 25, 2026

GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) and GLDY (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - GDE is a Gold fund actively managed by WisdomTree, while GLDY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, GDE returned 34.32% vs 1.57% for GLDY. A 0.73 correlation means they provide meaningful diversification when combined. GDE charges 0.20%/yr vs 0.99%/yr for GLDY.

Performance

GDE vs. GLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and Defiance Gold Enhanced Options Income ETF (GLDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDE achieves a -3.38% return, which is significantly higher than GLDY's -11.86% return.

GDE

• 1D: -2.89%
• 1M: -12.63%
• YTD: -3.38%
• 6M: -7.83%
• 1Y: 34.32%
• 3Y*: 39.47%
• 5Y*: —
• 10Y*: —

GLDY

• 1D: -3.17%
• 1M: -10.40%
• YTD: -11.86%
• 6M: -14.72%
• 1Y: 1.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDE vs. GLDY - Yearly Performance Comparison

	2026 (YTD)	2025
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	-3.38%	56.83%
GLDY Defiance Gold Enhanced Options Income ETF	-11.86%	15.15%

Correlation

The correlation between GDE and GLDY is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.74

The correlation between GDE and GLDY has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

Return for Risk

GDE vs. GLDY — Risk / Return Rank

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

GDE

GDE Risk / Return Rank: 33
GDE Sharpe Ratio Rank: 34
GDE Sortino Ratio Rank: 30
GDE Omega Ratio Rank: 35
GDE Calmar Ratio Rank: 33
GDE Martin Ratio Rank: 31

GLDY

GLDY Risk / Return Rank: 10
GLDY Sharpe Ratio Rank: 10
GLDY Sortino Ratio Rank: 10
GLDY Omega Ratio Rank: 10
GLDY Calmar Ratio Rank: 10
GLDY Martin Ratio Rank: 10

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.

GDE vs. GLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and Defiance Gold Enhanced Options Income ETF (GLDY). 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.

	GDE	GLDY	Difference
Sharpe ratio: Return per unit of total volatility	1.13	0.06	+1.07
Sortino ratio: Return per unit of downside risk	1.54	0.24	+1.30
Omega ratio: Gain probability vs. loss probability	1.22	1.04	+0.18
Calmar ratio: Return relative to maximum drawdown	1.52	0.06	+1.46
Martin ratio: Return relative to average drawdown	4.18	0.22	+3.96

GDE vs. GLDY - Sharpe Ratio Comparison

The current GDE Sharpe Ratio is 1.13, which is higher than the GLDY Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of GDE and GLDY, 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

GDE vs. GLDY - Drawdown Comparison

The maximum GDE drawdown since its inception was -32.01%, which is greater than GLDY's maximum drawdown of -25.90%. Use the drawdown chart below to compare losses from any high point for GDE and GLDY.

Drawdown Indicators

	GDE	GLDY	Difference
Max Drawdown Largest peak-to-trough decline	-32.01%	-25.90%	-6.11%
Max Drawdown (1Y) Largest decline over 1 year	-22.66%	-25.90%	+3.24%
Max Drawdown (3Y) Largest decline over 3 years	-22.66%	—	—
Current Drawdown Current decline from peak	-21.82%	-21.62%	-0.20%
Average Drawdown Average peak-to-trough decline	-7.99%	-4.53%	-3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.23%	7.03%	+1.20%

Volatility

GDE vs. GLDY - Volatility Comparison

The current volatility for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) is 11.66%, while Defiance Gold Enhanced Options Income ETF (GLDY) has a volatility of 15.09%. This indicates that GDE experiences smaller price fluctuations and is considered to be less risky than GLDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDE	GLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.66%	15.09%	-3.43%
Volatility (6M) Calculated over the trailing 6-month period	26.64%	23.40%	+3.24%
Volatility (1Y) Calculated over the trailing 1-year period	30.45%	24.79%	+5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.18%	23.41%	+3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.18%	23.41%	+3.77%

GDE vs. GLDY - Expense Ratio Comparison

GDE has a 0.20% expense ratio, which is lower than GLDY's 0.99% expense ratio.

Dividends

GDE vs. GLDY - Dividend Comparison

GDE's dividend yield for the trailing twelve months is around 4.47%, less than GLDY's 53.29% yield.

Position	TTM	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.47%	4.32%	7.14%	2.22%	0.81%
GLDY Defiance Gold Enhanced Options Income ETF	53.29%	37.38%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDE and GLDY in my portfolio?

GDE and GLDY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDE or GLDY?

GLDY has higher volatility (15.09%) compared to GDE (11.66%). In terms of maximum drawdown, GDE dropped -32.01% vs GLDY's -25.90%.

Which ETF is better, GDE or GLDY?

On 1-year performance, GDE leads with 34.32% vs 1.57% for GLDY. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 11.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDE or GLDY?

Over the 1-year period, GDE has performed better with a 34.32% return vs 1.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDE or GLDY?

GDE is cheaper with a 0.20% expense ratio, compared with 0.99% for GLDY.

Which ETF pays a higher dividend yield, GDE or GLDY?

GLDY has the higher dividend yield at 53.29%, compared with 4.47% for GDE.

What is the main difference between GDE and GLDY?

GDE is categorized as Gold, while GLDY is Derivative Income. They also come from different issuers: WisdomTree and Defiance. Their fees differ too: 0.20% for GDE and 0.99% for GLDY.

Which has better risk-adjusted returns?

GDE currently has the higher Sharpe Ratio (1.13 vs 0.06), 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.