GLDN vs. GDMN

Last updated Aug 6, 2026

GLDN (Nicholas Gold Income ETF) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - GLDN is a Gold fund actively managed by Nicholas, while GDMN is a Commodities fund actively managed by WisdomTree. Both are actively managed. Their 0.98 correlation means they have historically moved very closely together. GLDN charges 1.07%/yr vs 0.45%/yr for GDMN.

Performance

GLDN vs. GDMN - Performance Comparison

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

Returns By Period

GLDN

• 1D: 6.18%
• 1M: 3.13%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

GDMN

• 1D: 10.05%
• 1M: 6.88%
• 6M: -28.35%
• YTD: -10.91%
• 1Y: 56.56%
• 3Y*: 61.31%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 34.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	$1.87M	$2.36M	$3.40M
GLDN Nicholas Gold Income ETF	$89.38K	$105.25K	$99.21K

GLDN vs. GDMN - Yearly Performance Comparison

	2026 (YTD)
GLDN Nicholas Gold Income ETF	-20.08%
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	-28.57%

Correlation

The correlation between GLDN and GDMN is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026	0.98

Return for Risk

GLDN vs. GDMN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GLDN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GDMN

GDMN Risk / Return Rank: 31
GDMN Sharpe Ratio Rank: 31
GDMN Sortino Ratio Rank: 32
GDMN Omega Ratio Rank: 35
GDMN Calmar Ratio Rank: 29
GDMN Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GLDN vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Gold Income ETF (GLDN) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN). 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.

	GLDN	GDMN	Difference
Sharpe ratio: Return per unit of total volatility	—	0.87	—
Sortino ratio: Return per unit of downside risk	—	1.38	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.09	—
Martin ratio: Return relative to average drawdown	—	2.25	—

Drawdowns

GLDN vs. GDMN - Drawdown Comparison

The maximum GLDN drawdown since its inception was -36.20%, smaller than the maximum GDMN drawdown of -52.82%. Use the drawdown chart below to compare losses from any high point for GLDN and GDMN.

Drawdown Indicators

	GLDN	GDMN	Difference
Max Drawdown Largest peak-to-trough decline	-36.20%	-52.82%	+16.62%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-52.02%	—
Current Drawdown Current decline from peak	-27.23%	-41.52%	+14.29%
Average Drawdown Average peak-to-trough decline	-21.05%	-19.89%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	25.26%	—

Volatility

Volatility by Period

	GLDN	GDMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	49.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	42.00%	65.51%	-23.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.00%	48.53%	-6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.00%	48.53%	-6.53%

GLDN vs. GDMN - Expense Ratio Comparison

GLDN has a 1.07% expense ratio, which is higher than GDMN's 0.45% expense ratio.

Dividends

GLDN vs. GDMN - Dividend Comparison

GLDN's dividend yield for the trailing twelve months is around 6.99%, more than GDMN's 3.03% yield.

Position	TTM	2025	2024	2023	2022
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	3.03%	2.70%	9.44%	7.69%	1.44%
GLDN Nicholas Gold Income ETF	6.99%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GLDN and GDMN in my portfolio?

With a correlation of 0.98, GLDN and GDMN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GLDN or GDMN?

On fees, GDMN is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDN or GDMN?

GDMN is cheaper with a 0.45% expense ratio, compared with 1.07% for GLDN.

Which ETF pays a higher dividend yield, GLDN or GDMN?

GLDN has the higher dividend yield at 6.99%, compared with 3.03% for GDMN.

What is the main difference between GLDN and GDMN?

GLDN is categorized as Gold, while GDMN is Commodities. They also come from different issuers: Nicholas and WisdomTree. Their fees differ too: 1.07% for GLDN and 0.45% for GDMN.