MAKX vs. GDE
MAKX (ProShares S&P Kensho Smart Factories ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - MAKX is a Technology Equities fund tracking the S&P Kensho Smart Factories Index, while GDE is a Gold fund actively managed by WisdomTree. MAKX is passively managed, while GDE is actively managed. Over the past 3 years, MAKX returned 28.32%/yr vs 46.68%/yr for GDE. A 0.55 correlation means they provide meaningful diversification when combined. MAKX charges 0.58%/yr vs 0.20%/yr for GDE.
Performance
MAKX vs. GDE - Performance Comparison
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Returns By Period
In the year-to-date period, MAKX achieves a 47.39% return, which is significantly higher than GDE's 9.79% return.
MAKX
- 1D
- -1.54%
- 1M
- 17.86%
- YTD
- 47.39%
- 6M
- 42.02%
- 1Y
- 82.53%
- 3Y*
- 28.32%
- 5Y*
- —
- 10Y*
- —
GDE
- 1D
- -1.35%
- 1M
- 1.88%
- YTD
- 9.79%
- 6M
- 11.87%
- 1Y
- 53.13%
- 3Y*
- 46.68%
- 5Y*
- —
- 10Y*
- —
MAKX vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAKX ProShares S&P Kensho Smart Factories ETF | 47.39% | 21.63% | 8.27% | 26.03% | -14.64% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 9.79% | 73.76% | 44.79% | 33.85% | -18.67% |
Correlation
The correlation between MAKX and GDE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022 | 0.55 |
The correlation between MAKX and GDE shifts across timeframes, from 0.41 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MAKX vs. GDE — Risk / Return Rank
MAKX
GDE
MAKX vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Smart Factories ETF (MAKX) 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.
| MAKX | GDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.34 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.17 | 2.36 | +2.81 |
| Martin ratioReturn relative to average drawdown | 15.75 | 7.34 | +8.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MAKX | GDE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.87 | 1.88 | +0.99 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 1.15 | -0.64 |
Drawdowns
MAKX vs. GDE - Drawdown Comparison
The maximum MAKX drawdown since its inception was -40.27%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for MAKX and GDE.
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Drawdown Indicators
| MAKX | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.27% | -32.01% | -8.26% |
Max Drawdown (1Y)Largest decline over 1 year | -16.05% | -22.66% | +6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -29.76% | -22.66% | -7.10% |
Current DrawdownCurrent decline from peak | -1.54% | -11.17% | +9.63% |
Average DrawdownAverage peak-to-trough decline | -16.60% | -7.88% | -8.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.26% | 7.26% | -2.00% |
Volatility
MAKX vs. GDE - Volatility Comparison
ProShares S&P Kensho Smart Factories ETF (MAKX) has a higher volatility of 10.34% compared to WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) at 6.65%. This indicates that MAKX's price experiences larger fluctuations and is considered to be riskier than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAKX | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.34% | 6.65% | +3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 24.24% | -4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.03% | 28.39% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.18% | 26.12% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.18% | 26.12% | +2.06% |
MAKX vs. GDE - Expense Ratio Comparison
MAKX has a 0.58% expense ratio, which is higher than GDE's 0.20% expense ratio.
Dividends
MAKX vs. GDE - Dividend Comparison
MAKX's dividend yield for the trailing twelve months is around 0.10%, less than GDE's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 3.94% | 4.32% | 7.14% | 2.22% | 0.81% |
MAKX ProShares S&P Kensho Smart Factories ETF | 0.10% | 0.15% | 0.24% | 0.52% | 0.31% |
Frequently Asked Questions
MAKX and GDE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAKX has higher volatility (10.34%) compared to GDE (6.65%). In terms of maximum drawdown, MAKX dropped -40.27% vs GDE's -32.01%.
On 3-year performance, GDE leads with 46.68% vs 28.32% for MAKX. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 6.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDE has performed better with a 46.68% return vs 28.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDE is cheaper with a 0.20% expense ratio, compared with 0.58% for MAKX.
GDE has the higher dividend yield at 3.94%, compared with 0.10% for MAKX.
MAKX is categorized as Technology Equities, while GDE is Gold. They also come from different issuers: ProShares and WisdomTree. Their fees differ too: 0.58% for MAKX and 0.20% for GDE.
MAKX currently has the higher Sharpe Ratio (2.87 vs 1.88), 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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