OCIO vs. GDMA

Last updated Jun 4, 2026

OCIO (ClearShares OCIO ETF) and GDMA (Gadsden Dynamic Multi-Asset ETF) are both exchange-traded funds - OCIO is a Diversified Portfolio fund actively managed by ClearShares LLC, while GDMA is a Hedge Fund fund actively managed by Gadsden. Both are actively managed. Over the past 5 years, OCIO returned 7.46%/yr vs 7.66%/yr for GDMA. At a 0.49 correlation, their price movements are largely independent. OCIO charges 0.61%/yr vs 0.77%/yr for GDMA.

Performance

OCIO vs. GDMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares OCIO ETF (OCIO) 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, OCIO achieves a 9.49% return, which is significantly lower than GDMA's 11.18% return.

OCIO

• 1D: -0.41%
• 1M: 4.66%
• YTD: 9.49%
• 6M: 9.97%
• 1Y: 21.05%
• 3Y*: 14.04%
• 5Y*: 7.46%
• 10Y*: —

GDMA

• 1D: 0.30%
• 1M: 1.83%
• YTD: 11.18%
• 6M: 14.08%
• 1Y: 32.26%
• 3Y*: 16.91%
• 5Y*: 7.66%
• 10Y*: —

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

OCIO vs. GDMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
OCIO ClearShares OCIO ETF	9.49%	12.68%	12.76%	12.03%	-12.49%	13.20%	11.54%	18.56%	-8.12%
GDMA Gadsden Dynamic Multi-Asset ETF	11.18%	25.29%	7.44%	1.72%	-2.08%	3.95%	21.08%	11.59%	-3.93%

Correlation

The correlation between OCIO and GDMA is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018	0.49

The correlation between OCIO and GDMA shifts across timeframes, from 0.41 (5 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.

OCIO vs. GDMA - Sectors Allocation Comparison

Sectors	OCIO	GDMA
Technology	35.9%	23.4%
Financial Services	13.2%	14.5%
Industrials	10.9%	14.4%
Consumer Cyclical	8.6%	8.8%
Healthcare	7.9%	5.5%
Communication Services	7.1%	7.0%
Consumer Defensive	5.0%	3.5%
Energy	3.8%	10.0%
Basic Materials	3.3%	9.0%
Utilities	2.6%	2.4%
Real Estate	1.7%	1.6%

Return for Risk

OCIO vs. GDMA — Risk / Return Rank

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

OCIO

OCIO Risk / Return Rank: 67
OCIO Sharpe Ratio Rank: 66
OCIO Sortino Ratio Rank: 68
OCIO Omega Ratio Rank: 67
OCIO Calmar Ratio Rank: 61
OCIO Martin Ratio Rank: 72

GDMA

GDMA Risk / Return Rank: 74
GDMA Sharpe Ratio Rank: 75
GDMA Sortino Ratio Rank: 70
GDMA Omega Ratio Rank: 77
GDMA Calmar Ratio Rank: 82
GDMA Martin Ratio Rank: 65

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.

OCIO vs. GDMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares OCIO ETF (OCIO) 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.

	OCIO	GDMA	Difference
Sharpe ratio Return per unit of total volatility	2.18	2.47	-0.29
Sortino ratio Return per unit of downside risk	3.11	3.21	-0.10
Omega ratio Gain probability vs. loss probability	1.40	1.47	-0.06
Calmar ratio Return relative to maximum drawdown	3.03	4.30	-1.27
Martin ratio Return relative to average drawdown	13.42	11.92	+1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCIO vs. GDMA - Sharpe Ratio Comparison

The current OCIO Sharpe Ratio is 2.18, which is comparable to the GDMA Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of OCIO 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.

Sharpe Ratios by Period

	OCIO	GDMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	2.47	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.80	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.89	-0.18

Drawdowns

OCIO vs. GDMA - Drawdown Comparison

The maximum OCIO drawdown since its inception was -24.21%, which is greater than GDMA's maximum drawdown of -16.66%. Use the drawdown chart below to compare losses from any high point for OCIO and GDMA.

Drawdown Indicators

	OCIO	GDMA	Difference
Max Drawdown Largest peak-to-trough decline	-24.21%	-16.66%	-7.55%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-7.53%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-13.32%	-7.53%	-5.79%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-12.74%	-6.01%
Current Drawdown Current decline from peak	-0.41%	-1.06%	+0.65%
Average Drawdown Average peak-to-trough decline	-4.44%	-3.78%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	2.71%	-1.14%

Volatility

OCIO vs. GDMA - Volatility Comparison

The current volatility for ClearShares OCIO ETF (OCIO) is 2.94%, while Gadsden Dynamic Multi-Asset ETF (GDMA) has a volatility of 6.18%. This indicates that OCIO 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

	OCIO	GDMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	6.18%	-3.24%
Volatility (6M) Calculated over the trailing 6-month period	7.68%	10.03%	-2.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.70%	13.12%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.60%	9.67%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	10.97%	+0.39%

OCIO vs. GDMA - Expense Ratio Comparison

OCIO has a 0.61% expense ratio, which is lower than GDMA's 0.77% expense ratio.

Dividends

OCIO vs. GDMA - Dividend Comparison

OCIO's dividend yield for the trailing twelve months is around 9.47%, more than GDMA's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDMA Gadsden Dynamic Multi-Asset ETF	2.51%	2.79%	2.32%	4.14%	1.18%	2.10%	0.62%	3.17%	0.00%	0.00%
OCIO ClearShares OCIO ETF	9.47%	10.27%	1.87%	2.32%	3.21%	2.83%	2.90%	2.22%	0.01%	1.68%

Frequently Asked Questions

Can I hold both OCIO and GDMA in my portfolio?

OCIO and GDMA have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCIO or GDMA?

GDMA has higher volatility (6.18%) compared to OCIO (2.94%). In terms of maximum drawdown, OCIO dropped -24.21% vs GDMA's -16.66%.

Which ETF is better, OCIO or GDMA?

On 5-year performance, GDMA leads with 7.66% vs 7.46% for OCIO. On fees, OCIO is cheaper at 0.61% per year. On volatility, OCIO has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCIO or GDMA?

Over the 5-year period, GDMA has performed better with a 7.66% return vs 7.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCIO or GDMA?

OCIO is cheaper with a 0.61% expense ratio, compared with 0.77% for GDMA.

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

OCIO has the higher dividend yield at 9.47%, compared with 2.51% for GDMA.

What is the main difference between OCIO and GDMA?

OCIO is categorized as Diversified Portfolio, while GDMA is Hedge Fund. They also come from different issuers: ClearShares LLC and Gadsden. Their fees differ too: 0.61% for OCIO and 0.77% for GDMA.

Which has better risk-adjusted returns?

GDMA currently has the higher Sharpe Ratio (2.47 vs 2.18), 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.