GLD vs. GDE

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Gold Shares (GLD) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE).

GLD and GDE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004. GDE is an actively managed fund by WisdomTree. It was launched on Mar 15, 2022.

Performance

GLD vs. GDE - Performance Comparison

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

GLD vs. GDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GLD SPDR Gold Shares	8.57%	63.68%	26.66%	12.69%	-6.22%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	2.08%	73.76%	44.79%	33.85%	-18.67%

Returns By Period

In the year-to-date period, GLD achieves a 8.57% return, which is significantly higher than GDE's 2.08% return.

GLD

• 1D: 3.79%
• 1M: -11.05%
• YTD: 8.57%
• 6M: 21.05%
• 1Y: 49.33%
• 3Y*: 32.92%
• 5Y*: 21.58%
• 10Y*: 13.92%

GDE

• 1D: 5.90%
• 1M: -13.55%
• YTD: 2.08%
• 6M: 14.59%
• 1Y: 60.26%
• 3Y*: 44.20%
• 5Y*: —
• 10Y*: —

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

GLD vs. GDE - Expense Ratio Comparison

GLD has a 0.40% expense ratio, which is higher than GDE's 0.20% expense ratio.

GLD

SPDR Gold Shares

GDE

WisdomTree Efficient Gold Plus Equity Strategy Fund

Return for Risk

GLD vs. GDE — Risk / Return Rank

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

GLD

GLD Risk / Return Rank: 87
GLD Sharpe Ratio Rank: 88
GLD Sortino Ratio Rank: 86
GLD Omega Ratio Rank: 86
GLD Calmar Ratio Rank: 89
GLD Martin Ratio Rank: 87

GDE

GDE Risk / Return Rank: 89
GDE Sharpe Ratio Rank: 90
GDE Sortino Ratio Rank: 89
GDE Omega Ratio Rank: 89
GDE Calmar Ratio Rank: 89
GDE Martin Ratio Rank: 90

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.

GLD vs. GDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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.

	GLD	GDE	Difference
Sharpe ratio Return per unit of total volatility	1.79	1.88	-0.09
Sortino ratio Return per unit of downside risk	2.21	2.40	-0.19
Omega ratio Gain probability vs. loss probability	1.33	1.36	-0.03
Calmar ratio Return relative to maximum drawdown	2.68	2.79	-0.11
Martin ratio Return relative to average drawdown	9.90	10.98	-1.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLD vs. GDE - Sharpe Ratio Comparison

The current GLD Sharpe Ratio is 1.79, which is comparable to the GDE Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of GLD and GDE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GLD	GDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.88	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.22	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.11	-0.49

Correlation

The correlation between GLD and GDE is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GLD vs. GDE - Dividend Comparison

GLD has not paid dividends to shareholders, while GDE's dividend yield for the trailing twelve months is around 4.23%.

	TTM	2025	2024	2023	2022
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.23%	4.32%	7.14%	2.22%	0.81%

Drawdowns

GLD vs. GDE - Drawdown Comparison

The maximum GLD drawdown since its inception was -45.56%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for GLD and GDE.

Drawdown Indicators

	GLD	GDE	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-32.01%	-13.55%
Max Drawdown (1Y) Largest decline over 1 year	-19.21%	-22.66%	+3.45%
Max Drawdown (5Y) Largest decline over 5 years	-21.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.00%	—	—
Current Drawdown Current decline from peak	-13.23%	-17.41%	+4.18%
Average Drawdown Average peak-to-trough decline	-16.17%	-7.74%	-8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.20%	5.75%	-0.55%

Volatility

GLD vs. GDE - Volatility Comparison

The current volatility for SPDR Gold Shares (GLD) is 11.06%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 12.84%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLD	GDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.06%	12.84%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	24.30%	25.23%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	27.80%	32.26%	-4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	26.19%	-8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.87%	26.19%	-10.32%