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GOEX vs. GDMN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GOEX vs. GDMN

Last updated Jun 4, 2026

GOEX (Global X Gold Explorers ETF) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - GOEX is a Materials fund tracking the Solactive Global Gold Explorers & Developers Total Return, while GDMN is a Commodities fund actively managed by WisdomTree. GOEX is passively managed, while GDMN is actively managed. Over the past 3 years, GOEX returned 46.31%/yr vs 60.95%/yr for GDMN. Their correlation of 0.93 suggests significant overlap in exposure. GOEX charges 0.65%/yr vs 0.45%/yr for GDMN.

Performance

GOEX vs. GDMN - Performance Comparison

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

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Returns By Period

In the year-to-date period, GOEX achieves a -5.02% return, which is significantly lower than GDMN's -4.13% return.

GOEX

1D
-4.11%
1M
-3.45%
YTD
-5.02%
6M
2.89%
1Y
64.25%
3Y*
46.31%
5Y*
18.83%
10Y*
13.99%

GDMN

1D
-3.68%
1M
-2.43%
YTD
-4.13%
6M
2.73%
1Y
76.93%
3Y*
60.95%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

GOEX vs. GDMN - Yearly Performance Comparison

2026 (YTD)20252024202320222021
GOEX
Global X Gold Explorers ETF		-5.02%179.50%19.38%1.99%-14.63%4.20%
GDMN
WisdomTree Efficient Gold Plus Gold Miners Strategy Fund		-4.13%237.09%28.23%12.97%-14.62%5.11%

Correlation

The correlation between GOEX and GDMN is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.93

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

0.93

Correlation (All Time)
Calculated using the full available price history since Dec 17, 2021

0.93

The correlation between GOEX and GDMN has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

GOEX vs. GDMN - Sectors Allocation Comparison

Sectors
GOEX
GDMN

Basic Materials

100.0%
100.0%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

GOEX
100.0%
GDMN
100.0%

Communication Services

GOEX

-

GDMN

-

Consumer Cyclical

GOEX

-

GDMN

-

Consumer Defensive

GOEX

-

GDMN

-

Energy

GOEX

-

GDMN

-

Financial Services

GOEX

-

GDMN

-

Healthcare

GOEX

-

GDMN

-

Industrials

GOEX

-

GDMN

-

Real Estate

GOEX

-

GDMN

-

Technology

GOEX

-

GDMN

-

Utilities

GOEX

-

GDMN

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Gold Explorers ETF

WisdomTree Efficient Gold Plus Gold Miners Strategy Fund

Often compared with GOEX:
GOEX vs. GLDGOEX vs. SILGOEX vs. RINGGOEX vs. XMEGOEX vs. COPXGOEX vs. URAGOEX vs. IAU
Often compared with GDMN:
GDMN vs. GDXGDMN vs. GDEGDMN vs. GldGDMN vs. GLDGDMN vs. IAUMGDMN vs. IAUGDMN vs. AUMI

Return for Risk

GOEX vs. GDMN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GOEX
GOEX Risk / Return Rank: 3535
Overall Rank
GOEX Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
GOEX Sortino Ratio Rank: 3232
Sortino Ratio Rank
GOEX Omega Ratio Rank: 3535
Omega Ratio Rank
GOEX Calmar Ratio Rank: 3939
Calmar Ratio Rank
GOEX Martin Ratio Rank: 3232
Martin Ratio Rank
GDMN
GDMN Risk / Return Rank: 3434
Overall Rank
GDMN Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
GDMN Sortino Ratio Rank: 3030
Sortino Ratio Rank
GDMN Omega Ratio Rank: 3636
Omega Ratio Rank
GDMN Calmar Ratio Rank: 3939
Calmar Ratio Rank
GDMN Martin Ratio Rank: 3131
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.

GOEX vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Explorers ETF (GOEX) 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.

GOEXGDMNDifference
Sharpe ratioReturn per unit of total volatility
1.31
1.26

+0.05

Sortino ratioReturn per unit of downside risk
1.74
1.68

+0.07

Omega ratioGain probability vs. loss probability

1.24

1.25

-0.01

Calmar ratioReturn relative to maximum drawdown

1.97

1.98

-0.01

Martin ratioReturn relative to average drawdown

4.94

4.68

+0.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOEX vs. GDMN - Sharpe Ratio Comparison

The current GOEX Sharpe Ratio is 1.31, which is comparable to the GDMN Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of GOEX and GDMN, 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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Sharpe Ratios by Period

GOEXGDMNDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.31

1.26

+0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.02

0.80

-0.79

Drawdowns

GOEX vs. GDMN - Drawdown Comparison

The maximum GOEX drawdown since its inception was -88.83%, which is greater than GDMN's maximum drawdown of -52.82%. Use the drawdown chart below to compare losses from any high point for GOEX and GDMN.

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Drawdown Indicators

GOEXGDMNDifference

Max Drawdown

Largest peak-to-trough decline

-88.83%

-52.82%

-36.01%

Max Drawdown (1Y)

Largest decline over 1 year

-32.78%

-39.03%

+6.25%

Max Drawdown (3Y)

Largest decline over 3 years

-32.78%

-39.03%

+6.25%

Max Drawdown (5Y)

Largest decline over 5 years

-47.16%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-53.66%

—

—

Current Drawdown

Current decline from peak

-29.90%

-37.06%

+7.16%

Average Drawdown

Average peak-to-trough decline

-63.59%

-18.89%

-44.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.04%

16.51%

-3.47%

Volatility

GOEX vs. GDMN - Volatility Comparison

The current volatility for Global X Gold Explorers ETF (GOEX) is 14.62%, while WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a volatility of 17.94%. This indicates that GOEX experiences smaller price fluctuations and is considered to be less risky than GDMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GOEXGDMNDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.62%

17.94%

-3.32%

Volatility (6M)

Calculated over the trailing 6-month period

39.87%

51.79%

-11.92%

Volatility (1Y)

Calculated over the trailing 1-year period

49.13%

61.32%

-12.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.00%

47.59%

-8.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

39.97%

47.59%

-7.62%

GOEX vs. GDMN - Expense Ratio Comparison

GOEX has a 0.65% expense ratio, which is higher than GDMN's 0.45% expense ratio.

Dividends

GOEX vs. GDMN - Dividend Comparison

GOEX's dividend yield for the trailing twelve months is around 2.19%, less than GDMN's 2.82% yield.

PositionTTM20252024202320222021202020192018201720162015
GDMN
WisdomTree Efficient Gold Plus Gold Miners Strategy Fund		2.82%2.70%9.44%7.69%1.44%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GOEX
Global X Gold Explorers ETF		2.19%2.08%2.46%0.05%1.04%2.35%2.62%1.60%0.00%0.00%38.91%11.70%

Frequently Asked Questions

With a correlation of 0.93, GOEX 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.

GDMN has higher volatility (17.94%) compared to GOEX (14.62%). In terms of maximum drawdown, GOEX dropped -88.83% vs GDMN's -52.82%.

On 3-year performance, GDMN leads with 60.95% vs 46.31% for GOEX. On fees, GDMN is cheaper at 0.45% per year. On volatility, GOEX has been the lower-risk option at 14.62%. 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 60.95% return vs 46.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GDMN is cheaper with a 0.45% expense ratio, compared with 0.65% for GOEX.

GDMN has the higher dividend yield at 2.82%, compared with 2.19% for GOEX.

GOEX is categorized as Materials, while GDMN is Commodities. They also come from different issuers: Global X and WisdomTree. Their fees differ too: 0.65% for GOEX and 0.45% for GDMN.

GOEX currently has the higher Sharpe Ratio (1.31 vs 1.26), 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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