MTG vs. GDE

Last updated Jun 4, 2026

MTG (MGIC Investment Corporation) is a stock, while GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) is Gold fund actively managed by WisdomTree. Over the past 3 years, MTG returned 19.58%/yr vs 46.68%/yr for GDE. At a 0.30 correlation, their price movements are largely independent.

Performance

MTG vs. GDE - Performance Comparison

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

Returns By Period

In the year-to-date period, MTG achieves a -13.95% return, which is significantly lower than GDE's 9.79% return.

MTG

• 1D: -0.12%
• 1M: -4.46%
• YTD: -13.95%
• 6M: -11.09%
• 1Y: -3.96%
• 3Y*: 19.58%
• 5Y*: 13.73%
• 10Y*: 15.66%

GDE

• 1D: -1.35%
• 1M: 1.88%
• YTD: 9.79%
• 6M: 11.87%
• 1Y: 53.13%
• 3Y*: 46.68%
• 5Y*: —
• 10Y*: —

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

MTG vs. GDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MTG MGIC Investment Corporation	-13.95%	25.88%	25.68%	52.41%	-4.67%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	9.79%	73.76%	44.79%	33.85%	-18.67%

Correlation

The correlation between MTG and GDE is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.30

Over the past year, the correlation between MTG and GDE has dropped to 0.07 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

MTG vs. GDE — Risk / Return Rank

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

MTG

MTG Risk / Return Rank: 31
MTG Sharpe Ratio Rank: 34
MTG Sortino Ratio Rank: 29
MTG Omega Ratio Rank: 28
MTG Calmar Ratio Rank: 32
MTG Martin Ratio Rank: 31

GDE

GDE Risk / Return Rank: 49
GDE Sharpe Ratio Rank: 54
GDE Sortino Ratio Rank: 45
GDE Omega Ratio Rank: 54
GDE Calmar Ratio Rank: 47
GDE Martin Ratio Rank: 44

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.

MTG vs. GDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MGIC Investment Corporation (MTG) 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.

	MTG	GDE	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	1.88	-2.05
Sortino ratio: Return per unit of downside risk	-0.06	2.32	-2.38
Omega ratio: Gain probability vs. loss probability	0.99	1.34	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.25	2.36	-2.61
Martin ratio: Return relative to average drawdown	-0.52	7.34	-7.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MTG vs. GDE - Sharpe Ratio Comparison

The current MTG Sharpe Ratio is -0.17, which is lower than the GDE Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MTG and GDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MTG	GDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	1.88	-2.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	1.15	-1.08

Drawdowns

MTG vs. GDE - Drawdown Comparison

The maximum MTG drawdown since its inception was -98.86%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for MTG and GDE.

Drawdown Indicators

	MTG	GDE	Difference
Max Drawdown Largest peak-to-trough decline	-98.86%	-32.01%	-66.85%
Max Drawdown (1Y) Largest decline over 1 year	-15.79%	-22.66%	+6.87%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-22.66%	+6.87%
Max Drawdown (5Y) Largest decline over 5 years	-30.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-68.14%	—	—
Current Drawdown Current decline from peak	-60.40%	-11.17%	-49.23%
Average Drawdown Average peak-to-trough decline	-52.50%	-7.88%	-44.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.69%	7.26%	+0.43%

Volatility

MTG vs. GDE - Volatility Comparison

The current volatility for MGIC Investment Corporation (MTG) is 4.56%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 6.65%. This indicates that MTG 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

	MTG	GDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	6.65%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	19.46%	24.24%	-4.78%
Volatility (1Y) Calculated over the trailing 1-year period	23.78%	28.39%	-4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.37%	26.12%	-0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.40%	26.12%	+11.28%

Dividends

MTG vs. GDE - Dividend Comparison

MTG's dividend yield for the trailing twelve months is around 2.41%, less than GDE's 3.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	3.94%	4.32%	7.14%	2.22%	0.81%	0.00%	0.00%	0.00%
MTG MGIC Investment Corporation	2.41%	1.92%	2.07%	2.23%	2.77%	1.94%	1.91%	0.85%

Frequently Asked Questions

Can I hold both MTG and GDE in my portfolio?

MTG and GDE have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MTG or GDE?

GDE has higher volatility (6.65%) compared to MTG (4.56%). In terms of maximum drawdown, MTG dropped -98.86% vs GDE's -32.01%.

Which has better risk-adjusted returns?

GDE currently has the higher Sharpe Ratio (1.88 vs -0.17), 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.