GDMA vs. SPY
GDMA (Gadsden Dynamic Multi-Asset ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - GDMA is a Global Allocation fund actively managed by Gadsden, while SPY is a S&P 500 fund tracking the S&P 500 Index. GDMA is actively managed, while SPY is passively managed. Over the past 5 years, GDMA returned 8.31%/yr vs 12.60%/yr for SPY. Their 0.45 correlation means their historical movements had little consistent relationship. GDMA charges 0.77%/yr vs 0.09%/yr for SPY.
Performance
GDMA vs. SPY - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with GDMA having a 9.82% return and SPY slightly lower at 9.34%.
GDMA
- 1D
- -0.11%
- 1M
- -2.48%
- 6M
- 0.25%
- YTD
- 9.82%
- 1Y
- 22.92%
- 3Y*
- 15.88%
- 5Y*
- 8.31%
- 10Y*
- —
- ALL TIME*
- 9.35%
SPY
- 1D
- 1.68%
- 1M
- -0.68%
- 6M
- 7.43%
- YTD
- 9.34%
- 1Y
- 18.20%
- 3Y*
- 18.92%
- 5Y*
- 12.60%
- 10Y*
- 14.91%
- ALL TIME*
- 10.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.67M | $1.21M | $716.30K | |
| $36.82B | $35.23B | $39.04B |
GDMA vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GDMA Gadsden Dynamic Multi-Asset ETF | 9.82% | 25.29% | 7.44% | 1.72% | -2.08% | 3.95% | 21.08% | 11.59% | -3.70% |
SPY State Street SPDR S&P 500 ETF | 9.34% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -6.97% |
Correlation
The correlation between GDMA and SPY is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018 | 0.45 |
The correlation between GDMA and SPY shifts across timeframes, from 0.34 (5 years) to 0.63 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GDMA vs. SPY — Risk / Return Rank
GDMA
SPY
GDMA vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gadsden Dynamic Multi-Asset ETF (GDMA) 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.
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.
| GDMA | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 2.06 | +1.00 |
| Martin ratioReturn relative to average drawdown | 7.11 | 8.77 | -1.66 |
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Drawdowns
GDMA vs. SPY - Drawdown Comparison
The maximum GDMA drawdown since its inception was -16.66%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GDMA and SPY.
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Drawdown Indicators
| GDMA | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.66% | -55.19% | +38.53% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -8.88% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -7.53% | -18.76% | +11.23% |
Max Drawdown (5Y)Largest decline over 5 years | -12.74% | -24.50% | +11.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -3.86% | -2.10% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -9.01% | +5.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.08% | +1.15% |
Volatility
GDMA vs. SPY - Volatility Comparison
Gadsden Dynamic Multi-Asset ETF (GDMA) has a higher volatility of 3.91% compared to State Street SPDR S&P 500 ETF (SPY) at 3.50%. This indicates that GDMA'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.
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Volatility by Period
| GDMA | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 3.50% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 13.18% | 10.13% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.82% | 12.88% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.24% | 17.18% | -6.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.39% | 17.95% | -6.56% |
GDMA vs. SPY - Expense Ratio Comparison
GDMA has a 0.77% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
GDMA vs. SPY - Dividend Comparison
GDMA's dividend yield for the trailing twelve months is around 2.54%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDMA Gadsden Dynamic Multi-Asset ETF | 2.54% | 2.79% | 2.32% | 4.14% | 1.18% | 2.10% | 0.62% | 3.17% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 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
GDMA and SPY have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDMA has higher volatility (3.91%) compared to SPY (3.50%). In terms of maximum drawdown, GDMA dropped -16.66% vs SPY's -55.19%.
On 5-year performance, SPY leads with 12.60% vs 8.31% for GDMA. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPY has performed better with a 12.60% return vs 8.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.77% for GDMA.
GDMA has the higher dividend yield at 2.54%, compared with 1.01% for SPY.
GDMA is categorized as Global Allocation, while SPY is S&P 500. They also come from different issuers: Gadsden and State Street. Their fees differ too: 0.77% for GDMA and 0.09% for SPY.
GDMA currently has the higher Sharpe Ratio (1.46 vs 1.42), 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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