HERO vs. GDMA

Last updated Jun 13, 2026

HERO (Global X Video Games & Esports ETF) and GDMA (Gadsden Dynamic Multi-Asset ETF) are both exchange-traded funds - HERO is a Large Cap Growth Equities fund tracking the Solactive Video Games & Esports Index, while GDMA is a Hedge Fund fund actively managed by Gadsden. HERO is passively managed, while GDMA is actively managed. Over the past 5 years, HERO returned -4.76%/yr vs 7.35%/yr for GDMA. At a 0.35 correlation, their price movements are largely independent. HERO charges 0.50%/yr vs 0.77%/yr for GDMA.

Performance

HERO vs. GDMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Video Games & Esports ETF (HERO) and Gadsden Dynamic Multi-Asset ETF (GDMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HERO achieves a -17.16% return, which is significantly lower than GDMA's 9.12% return.

HERO

• 1D: 0.30%
• 1M: -5.24%
• YTD: -17.16%
• 6M: -17.60%
• 1Y: -19.33%
• 3Y*: 7.42%
• 5Y*: -4.76%
• 10Y*: —

GDMA

• 1D: 0.65%
• 1M: -0.51%
• YTD: 9.12%
• 6M: 11.07%
• 1Y: 28.81%
• 3Y*: 16.32%
• 5Y*: 7.35%
• 10Y*: —

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

HERO vs. GDMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HERO Global X Video Games & Esports ETF	-17.16%	28.74%	17.65%	8.36%	-33.42%	-8.37%	91.02%	9.12%
GDMA Gadsden Dynamic Multi-Asset ETF	9.12%	25.29%	7.44%	1.72%	-2.08%	3.95%	21.08%	2.12%

Correlation

The correlation between HERO and GDMA is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Oct 31, 2019	0.35

The correlation between HERO and GDMA shifts across timeframes, from 0.25 (5 years) to 0.50 (1 year), reflecting how their relationship changes across market environments.

HERO vs. GDMA - Sectors Allocation Comparison

Sectors	HERO	GDMA
Communication Services	93.0%	7.0%
Technology	5.6%	23.4%
Industrials	1.4%	14.4%
Basic Materials	-	9.0%
Consumer Cyclical	-	8.8%
Consumer Defensive	-	3.5%
Energy	-	10.0%
Financial Services	-	14.5%
Healthcare	-	5.5%
Real Estate	-	1.6%
Utilities	-	2.4%

Return for Risk

HERO vs. GDMA — Risk / Return Rank

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

HERO

HERO Risk / Return Rank: 2
HERO Sharpe Ratio Rank: 1
HERO Sortino Ratio Rank: 2
HERO Omega Ratio Rank: 2
HERO Calmar Ratio Rank: 4
HERO Martin Ratio Rank: 3

GDMA

GDMA Risk / Return Rank: 69
GDMA Sharpe Ratio Rank: 68
GDMA Sortino Ratio Rank: 61
GDMA Omega Ratio Rank: 72
GDMA Calmar Ratio Rank: 80
GDMA Martin Ratio Rank: 62

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.

HERO vs. GDMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports ETF (HERO) and Gadsden Dynamic Multi-Asset ETF (GDMA). 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.

	HERO	GDMA	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	1.93	-2.95
Sortino ratio: Return per unit of downside risk	-1.34	2.51	-3.84
Omega ratio: Gain probability vs. loss probability	0.84	1.37	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.70	3.70	-4.40
Martin ratio: Return relative to average drawdown	-1.33	9.85	-11.17

HERO vs. GDMA - Sharpe Ratio Comparison

The current HERO Sharpe Ratio is -1.01, which is lower than the GDMA Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of HERO and GDMA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HERO vs. GDMA - Drawdown Comparison

The maximum HERO drawdown since its inception was -54.02%, which is greater than GDMA's maximum drawdown of -16.66%. Use the drawdown chart below to compare losses from any high point for HERO and GDMA.

Drawdown Indicators

	HERO	GDMA	Difference
Max Drawdown Largest peak-to-trough decline	-54.02%	-16.66%	-37.36%
Max Drawdown (1Y) Largest decline over 1 year	-28.08%	-7.53%	-20.55%
Max Drawdown (3Y) Largest decline over 3 years	-28.08%	-7.53%	-20.55%
Max Drawdown (5Y) Largest decline over 5 years	-48.06%	-12.74%	-35.32%
Current Drawdown Current decline from peak	-30.29%	-2.90%	-27.39%
Average Drawdown Average peak-to-trough decline	-25.97%	-3.79%	-22.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.82%	2.82%	+12.00%

Volatility

HERO vs. GDMA - Volatility Comparison

The current volatility for Global X Video Games & Esports ETF (HERO) is 4.45%, while Gadsden Dynamic Multi-Asset ETF (GDMA) has a volatility of 7.92%. This indicates that HERO experiences smaller price fluctuations and is considered to be less risky than GDMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERO	GDMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	7.92%	-3.47%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	11.68%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	19.53%	14.40%	+5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.36%	10.02%	+13.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	11.16%	+13.30%

HERO vs. GDMA - Expense Ratio Comparison

HERO has a 0.50% expense ratio, which is lower than GDMA's 0.77% expense ratio.

Dividends

HERO vs. GDMA - Dividend Comparison

HERO's dividend yield for the trailing twelve months is around 1.96%, less than GDMA's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GDMA Gadsden Dynamic Multi-Asset ETF	2.56%	2.79%	2.32%	4.14%	1.18%	2.10%	0.62%	3.17%
HERO Global X Video Games & Esports ETF	1.96%	1.62%	1.06%	0.73%	0.28%	0.79%	0.71%	0.17%

Frequently Asked Questions

Can I hold both HERO and GDMA in my portfolio?

HERO and GDMA have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HERO or GDMA?

GDMA has higher volatility (7.92%) compared to HERO (4.45%). In terms of maximum drawdown, HERO dropped -54.02% vs GDMA's -16.66%.

Which ETF is better, HERO or GDMA?

On 5-year performance, GDMA leads with 7.35% vs -4.76% for HERO. On fees, HERO is cheaper at 0.50% per year. On volatility, HERO has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HERO or GDMA?

Over the 5-year period, GDMA has performed better with a 7.35% return vs -4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HERO or GDMA?

HERO is cheaper with a 0.50% expense ratio, compared with 0.77% for GDMA.

Which ETF pays a higher dividend yield, HERO or GDMA?

GDMA has the higher dividend yield at 2.56%, compared with 1.96% for HERO.

What is the main difference between HERO and GDMA?

HERO is categorized as Large Cap Growth Equities, while GDMA is Hedge Fund. They also come from different issuers: Global X and Gadsden. Their fees differ too: 0.50% for HERO and 0.77% for GDMA.

Which has better risk-adjusted returns?

GDMA currently has the higher Sharpe Ratio (1.93 vs -1.01), 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.