GDE vs. SPY

Last updated Jun 9, 2026

GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - GDE is a Gold fund actively managed by WisdomTree, while SPY is a S&P 500 fund tracking the S&P 500 Index. GDE is actively managed, while SPY is passively managed. Over the past 3 years, GDE returned 44.47%/yr vs 21.35%/yr for SPY. A 0.64 correlation means they provide meaningful diversification when combined. GDE charges 0.20%/yr vs 0.09%/yr for SPY.

Performance

GDE vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDE achieves a 5.74% return, which is significantly lower than SPY's 8.70% return.

GDE

• 1D: 0.95%
• 1M: -7.44%
• YTD: 5.74%
• 6M: 8.50%
• 1Y: 47.93%
• 3Y*: 44.47%
• 5Y*: —
• 10Y*: —

SPY

• 1D: 0.23%
• 1M: 0.22%
• YTD: 8.70%
• 6M: 8.75%
• 1Y: 24.79%
• 3Y*: 21.35%
• 5Y*: 13.42%
• 10Y*: 15.27%

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

GDE vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	5.74%	73.76%	44.79%	33.85%	-18.67%
SPY State Street SPDR S&P 500 ETF	8.70%	17.72%	24.89%	26.18%	-11.89%

Correlation

The correlation between GDE and SPY is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.64

The correlation between GDE and SPY has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

GDE vs. SPY - Sectors Allocation Comparison

Sectors	GDE	SPY
Technology	35.6%	35.9%
Financial Services	12.2%	11.8%
Communication Services	12.2%	11.3%
Consumer Cyclical	10.1%	10.3%
Healthcare	8.3%	8.4%
Industrials	7.6%	7.8%
Consumer Defensive	5.5%	4.8%
Energy	3.4%	3.6%
Utilities	2.1%	2.4%
Real Estate	1.6%	1.9%
Basic Materials	1.4%	1.8%

Return for Risk

GDE vs. SPY — Risk / Return Rank

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

GDE

GDE Risk / Return Rank: 49
GDE Sharpe Ratio Rank: 54
GDE Sortino Ratio Rank: 47
GDE Omega Ratio Rank: 54
GDE Calmar Ratio Rank: 47
GDE Martin Ratio Rank: 43

SPY

SPY Risk / Return Rank: 69
SPY Sharpe Ratio Rank: 70
SPY Sortino Ratio Rank: 67
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and State Street SPDR S&P 500 ETF (SPY). 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.

	GDE	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.06	-0.40
Sortino ratio: Return per unit of downside risk	2.07	2.78	-0.71
Omega ratio: Gain probability vs. loss probability	1.31	1.38	-0.07
Calmar ratio: Return relative to maximum drawdown	2.13	2.80	-0.68
Martin ratio: Return relative to average drawdown	6.49	12.93	-6.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDE vs. SPY - Sharpe Ratio Comparison

The current GDE Sharpe Ratio is 1.66, which is comparable to the SPY Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of GDE and SPY, 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

	GDE	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	2.06	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.58	+0.52

Drawdowns

GDE vs. SPY - Drawdown Comparison

The maximum GDE drawdown since its inception was -32.01%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GDE and SPY.

Drawdown Indicators

	GDE	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-32.01%	-55.19%	+23.18%
Max Drawdown (1Y) Largest decline over 1 year	-22.66%	-8.88%	-13.78%
Max Drawdown (3Y) Largest decline over 3 years	-22.66%	-18.76%	-3.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-14.44%	-2.68%	-11.76%
Average Drawdown Average peak-to-trough decline	-7.90%	-9.04%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.40%	1.92%	+5.48%

Volatility

GDE vs. SPY - Volatility Comparison

WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a higher volatility of 8.25% compared to State Street SPDR S&P 500 ETF (SPY) at 3.72%. This indicates that GDE's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDE	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.25%	3.72%	+4.53%
Volatility (6M) Calculated over the trailing 6-month period	25.04%	9.31%	+15.73%
Volatility (1Y) Calculated over the trailing 1-year period	29.09%	12.10%	+16.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.26%	17.09%	+9.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.26%	17.96%	+8.30%

GDE vs. SPY - Expense Ratio Comparison

GDE has a 0.20% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GDE vs. SPY - Dividend Comparison

GDE's dividend yield for the trailing twelve months is around 4.09%, more than SPY's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.09%	4.32%	7.14%	2.22%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.00%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both GDE and SPY in my portfolio?

GDE and SPY have a correlation of 0.57, 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 SPY?

GDE has higher volatility (8.25%) compared to SPY (3.72%). In terms of maximum drawdown, GDE dropped -32.01% vs SPY's -55.19%.

Which ETF is better, GDE or SPY?

On 3-year performance, GDE leads with 44.47% vs 21.35% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDE or SPY?

Over the 3-year period, GDE has performed better with a 44.47% return vs 21.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDE or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.20% for GDE.

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

GDE has the higher dividend yield at 4.09%, compared with 1.00% for SPY.

What is the main difference between GDE and SPY?

GDE is categorized as Gold, while SPY is S&P 500. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.20% for GDE and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.06 vs 1.66), 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.