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GDMN vs. IWL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GDMN vs. IWL

Last updated Jun 16, 2026

GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) and IWL (iShares Russell Top 200 ETF) are both exchange-traded funds - GDMN is a Commodities fund actively managed by WisdomTree, while IWL is a Large Cap Growth Equities fund tracking the Russell Top 200 Index. GDMN is actively managed, while IWL is passively managed. Over the past 3 years, GDMN returned 59.33%/yr vs 22.12%/yr for IWL. At a 0.22 correlation, their price movements are largely independent. GDMN charges 0.45%/yr vs 0.15%/yr for IWL.

Performance

GDMN vs. IWL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) and iShares Russell Top 200 ETF (IWL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GDMN achieves a -7.24% return, which is significantly lower than IWL's 9.79% return.

GDMN

1D
7.58%
1M
-7.37%
YTD
-7.24%
6M
-6.40%
1Y
63.42%
3Y*
59.33%
5Y*
—
10Y*
—

IWL

1D
1.85%
1M
1.65%
YTD
9.79%
6M
10.53%
1Y
27.79%
3Y*
22.12%
5Y*
14.51%
10Y*
16.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GDMN vs. IWL - Yearly Performance Comparison

2026 (YTD)20252024202320222021
GDMN
WisdomTree Efficient Gold Plus Gold Miners Strategy Fund		-7.24%237.09%28.23%12.97%-14.62%6.93%
IWL
iShares Russell Top 200 ETF		9.79%19.09%27.12%29.77%-19.89%0.94%

Correlation

The correlation between GDMN and IWL is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.24

Correlation (All Time)
Calculated using the full available price history since Dec 16, 2021

0.22

The correlation between GDMN and IWL shifts across timeframes, from 0.22 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

GDMN vs. IWL - Sectors Allocation Comparison

Sectors
GDMN
IWL

Basic Materials

100.0%
1.4%

Communication Services

-

12.1%

Consumer Cyclical

-

9.7%

Consumer Defensive

-

4.5%

Energy

-

2.4%

Financial Services

-

11.1%

Healthcare

-

8.5%

Industrials

-

6.3%

Real Estate

-

0.9%

Technology

-

41.8%

Utilities

-

1.2%

Basic Materials

GDMN
100.0%
IWL
1.4%

Communication Services

GDMN

-

IWL
12.1%

Consumer Cyclical

GDMN

-

IWL
9.7%

Consumer Defensive

GDMN

-

IWL
4.5%

Energy

GDMN

-

IWL
2.4%

Financial Services

GDMN

-

IWL
11.1%

Healthcare

GDMN

-

IWL
8.5%

Industrials

GDMN

-

IWL
6.3%

Real Estate

GDMN

-

IWL
0.9%

Technology

GDMN

-

IWL
41.8%

Utilities

GDMN

-

IWL
1.2%

Compare stocks, funds, or ETFs

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WisdomTree Efficient Gold Plus Gold Miners Strategy Fund

iShares Russell Top 200 ETF

Often compared with GDMN:
GDMN vs. GDXGDMN vs. GDEGDMN vs. GldGDMN vs. GLDGDMN vs. IAUMGDMN vs. IAUGDMN vs. AUMI
Often compared with IWL:
IWL vs. IWYIWL vs. VOOIWL vs. SPYIWL vs. IVVIWL vs. QQQMIWL vs. QQQIWL vs. QUAL

Return for Risk

GDMN vs. IWL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GDMN
GDMN Risk / Return Rank: 3030
Overall Rank
GDMN Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
GDMN Sortino Ratio Rank: 2929
Sortino Ratio Rank
GDMN Omega Ratio Rank: 3434
Omega Ratio Rank
GDMN Calmar Ratio Rank: 2929
Calmar Ratio Rank
GDMN Martin Ratio Rank: 2828
Martin Ratio Rank
IWL
IWL Risk / Return Rank: 7171
Overall Rank
IWL Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IWL Sortino Ratio Rank: 7373
Sortino Ratio Rank
IWL Omega Ratio Rank: 7575
Omega Ratio Rank
IWL Calmar Ratio Rank: 6262
Calmar Ratio Rank
IWL Martin Ratio Rank: 7272
Martin Ratio Rank
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.

GDMN vs. IWL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) and iShares Russell Top 200 ETF (IWL). 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.

GDMNIWLDifference
Sharpe ratioReturn per unit of total volatility
1.00
2.19

-1.19

Sortino ratioReturn per unit of downside risk
1.47
2.94

-1.47

Omega ratioGain probability vs. loss probability

1.21

1.39

-0.18

Calmar ratioReturn relative to maximum drawdown

1.31

2.84

-1.53

Martin ratioReturn relative to average drawdown

3.52

12.27

-8.75

GDMN vs. IWL - Sharpe Ratio Comparison

The current GDMN Sharpe Ratio is 1.00, which is lower than the IWL Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of GDMN and IWL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GDMN vs. IWL - Drawdown Comparison

The maximum GDMN drawdown since its inception was -52.82%, which is greater than IWL's maximum drawdown of -32.71%. Use the drawdown chart below to compare losses from any high point for GDMN and IWL.

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Drawdown Indicators

GDMNIWLDifference

Max Drawdown

Largest peak-to-trough decline

-52.82%

-32.71%

-20.11%

Max Drawdown (1Y)

Largest decline over 1 year

-48.76%

-9.83%

-38.93%

Max Drawdown (3Y)

Largest decline over 3 years

-48.76%

-19.15%

-29.61%

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.65%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.71%

—

Current Drawdown

Current decline from peak

-39.10%

-1.04%

-38.06%

Average Drawdown

Average peak-to-trough decline

-19.04%

-3.88%

-15.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.18%

2.27%

+15.91%

Volatility

GDMN vs. IWL - Volatility Comparison

WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a higher volatility of 23.53% compared to iShares Russell Top 200 ETF (IWL) at 4.80%. This indicates that GDMN's price experiences larger fluctuations and is considered to be riskier than IWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GDMNIWLDifference

Volatility (1M)

Calculated over the trailing 1-month period

23.53%

4.80%

+18.73%

Volatility (6M)

Calculated over the trailing 6-month period

54.66%

10.03%

+44.63%

Volatility (1Y)

Calculated over the trailing 1-year period

63.80%

12.77%

+51.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

48.17%

17.26%

+30.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

48.17%

18.13%

+30.04%

GDMN vs. IWL - Expense Ratio Comparison

GDMN has a 0.45% expense ratio, which is higher than IWL's 0.15% expense ratio.

Dividends

GDMN vs. IWL - Dividend Comparison

GDMN's dividend yield for the trailing twelve months is around 2.91%, more than IWL's 1.04% yield.

PositionTTM20252024202320222021202020192018201720162015
GDMN
WisdomTree Efficient Gold Plus Gold Miners Strategy Fund		2.91%2.70%9.44%7.69%1.44%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IWL
iShares Russell Top 200 ETF		1.04%0.90%1.04%1.30%1.54%1.12%1.30%1.96%1.93%1.69%1.96%2.14%

Frequently Asked Questions

GDMN and IWL have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GDMN has higher volatility (23.53%) compared to IWL (4.80%). In terms of maximum drawdown, GDMN dropped -52.82% vs IWL's -32.71%.

On 3-year performance, GDMN leads with 59.33% vs 22.12% for IWL. On fees, IWL is cheaper at 0.15% per year. On volatility, IWL has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, GDMN has performed better with a 59.33% return vs 22.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWL is cheaper with a 0.15% expense ratio, compared with 0.45% for GDMN.

GDMN has the higher dividend yield at 2.91%, compared with 1.04% for IWL.

GDMN is categorized as Commodities, while IWL is Large Cap Growth Equities. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.45% for GDMN and 0.15% for IWL.

IWL currently has the higher Sharpe Ratio (2.19 vs 1.00), 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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