GDE vs. JAAA

Last updated Jun 14, 2026

GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - GDE is a Gold fund actively managed by WisdomTree, while JAAA is a CLO fund actively managed by Janus Henderson. Both are actively managed. Over the past 3 years, GDE returned 42.64%/yr vs 6.67%/yr for JAAA. At a 0.10 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.

Performance

GDE vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and Janus Henderson AAA CLO ETF (JAAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDE achieves a 3.16% return, which is significantly higher than JAAA's 1.99% return.

GDE

• 1D: 0.67%
• 1M: -6.40%
• YTD: 3.16%
• 6M: 4.00%
• 1Y: 40.98%
• 3Y*: 42.64%
• 5Y*: —
• 10Y*: —

JAAA

• 1D: 0.02%
• 1M: 0.33%
• YTD: 1.99%
• 6M: 2.49%
• 1Y: 5.01%
• 3Y*: 6.67%
• 5Y*: 4.76%
• 10Y*: —

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

GDE vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	3.16%	73.76%	44.79%	33.85%	-8.58%
JAAA Janus Henderson AAA CLO ETF	1.99%	5.16%	7.43%	8.59%	1.20%

Correlation

The correlation between GDE and JAAA is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.10

Return for Risk

GDE vs. JAAA — Risk / Return Rank

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

GDE

GDE Risk / Return Rank: 42
GDE Sharpe Ratio Rank: 45
GDE Sortino Ratio Rank: 39
GDE Omega Ratio Rank: 46
GDE Calmar Ratio Rank: 41
GDE Martin Ratio Rank: 38

JAAA

JAAA Risk / Return Rank: 98
JAAA Sharpe Ratio Rank: 99
JAAA Sortino Ratio Rank: 99
JAAA Omega Ratio Rank: 99
JAAA Calmar Ratio Rank: 98
JAAA Martin Ratio Rank: 98

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. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and Janus Henderson AAA CLO ETF (JAAA). 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	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	1.39	6.03	-4.64
Sortino ratio: Return per unit of downside risk	1.81	10.06	-8.25
Omega ratio: Gain probability vs. loss probability	1.26	2.72	-1.46
Calmar ratio: Return relative to maximum drawdown	1.83	12.91	-11.08
Martin ratio: Return relative to average drawdown	5.36	69.57	-64.21

GDE vs. JAAA - Sharpe Ratio Comparison

The current GDE Sharpe Ratio is 1.39, which is lower than the JAAA Sharpe Ratio of 6.03. The chart below compares the historical Sharpe Ratios of GDE and JAAA, 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. JAAA - Drawdown Comparison

The maximum GDE drawdown since its inception was -32.01%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for GDE and JAAA.

Drawdown Indicators

	GDE	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-32.01%	-2.64%	-29.37%
Max Drawdown (1Y) Largest decline over 1 year	-22.66%	-0.39%	-22.27%
Max Drawdown (3Y) Largest decline over 3 years	-22.66%	-1.46%	-21.20%
Max Drawdown (5Y) Largest decline over 5 years	—	-2.64%	—
Current Drawdown Current decline from peak	-16.53%	0.00%	-16.53%
Average Drawdown Average peak-to-trough decline	-7.93%	-0.25%	-7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.73%	0.07%	+7.66%

Volatility

GDE vs. JAAA - Volatility Comparison

WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a higher volatility of 10.77% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.12%. This indicates that GDE's price experiences larger fluctuations and is considered to be riskier than JAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDE	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.77%	0.12%	+10.65%
Volatility (6M) Calculated over the trailing 6-month period	25.97%	0.63%	+25.34%
Volatility (1Y) Calculated over the trailing 1-year period	29.88%	0.83%	+29.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.09%	1.67%	+25.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.09%	1.64%	+25.45%

GDE vs. JAAA - Expense Ratio Comparison

Both GDE and JAAA have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

GDE vs. JAAA - Dividend Comparison

GDE's dividend yield for the trailing twelve months is around 4.19%, less than JAAA's 4.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.19%	4.32%	7.14%	2.22%	0.81%	0.00%	0.00%
JAAA Janus Henderson AAA CLO ETF	4.99%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%

Frequently Asked Questions

Can I hold both GDE and JAAA in my portfolio?

GDE and JAAA have a correlation of 0.14, 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 JAAA?

GDE has higher volatility (10.77%) compared to JAAA (0.12%). In terms of maximum drawdown, GDE dropped -32.01% vs JAAA's -2.64%.

Which ETF is better, GDE or JAAA?

On 3-year performance, GDE leads with 42.64% vs 6.67% for JAAA. Both ETFs have the same 0.20% expense ratio. On volatility, JAAA has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDE or JAAA?

Over the 3-year period, GDE has performed better with a 42.64% return vs 6.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDE or JAAA?

GDE and JAAA have the same expense ratio: 0.20% per year.

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

JAAA has the higher dividend yield at 4.99%, compared with 4.19% for GDE.

What is the main difference between GDE and JAAA?

GDE is categorized as Gold, while JAAA is CLO. They also come from different issuers: WisdomTree and Janus Henderson.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.03 vs 1.39), 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.