PXF vs. GDE
PXF (Invesco FTSE RAFI Developed Markets ex-U.S. ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - PXF is a Foreign Large Cap Equities fund tracking the FTSE RAFI Developed Markets ex-U.S. Index, while GDE is a Gold fund actively managed by WisdomTree. PXF is passively managed, while GDE is actively managed. Over the past 3 years, PXF returned 23.81%/yr vs 42.64%/yr for GDE. A 0.63 correlation means they provide meaningful diversification when combined. PXF charges 0.45%/yr vs 0.20%/yr for GDE.
Performance
PXF vs. GDE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PXF achieves a 18.79% return, which is significantly higher than GDE's 3.16% return.
PXF
- 1D
- 0.34%
- 1M
- 0.69%
- YTD
- 18.79%
- 6M
- 20.98%
- 1Y
- 41.20%
- 3Y*
- 23.81%
- 5Y*
- 13.18%
- 10Y*
- 12.26%
GDE
- 1D
- 0.67%
- 1M
- -9.22%
- YTD
- 3.16%
- 6M
- 4.00%
- 1Y
- 40.98%
- 3Y*
- 42.64%
- 5Y*
- —
- 10Y*
- —
PXF vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 18.79% | 42.51% | 4.54% | 18.46% | -5.90% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 3.16% | 73.76% | 44.79% | 33.85% | -8.58% |
Correlation
The correlation between PXF and GDE is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.63 |
The correlation between PXF and GDE has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PXF vs. GDE — Risk / Return Rank
PXF
GDE
PXF vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) 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.
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.
| PXF | GDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.26 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 1.83 | +1.83 |
| Martin ratioReturn relative to average drawdown | 13.76 | 5.36 | +8.40 |
Loading charts...
Drawdowns
PXF vs. GDE - Drawdown Comparison
The maximum PXF drawdown since its inception was -64.74%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for PXF and GDE.
Loading charts...
Drawdown Indicators
| PXF | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.74% | -32.01% | -32.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.91% | -22.66% | +11.75% |
Max Drawdown (3Y)Largest decline over 3 years | -14.06% | -22.66% | +8.60% |
Max Drawdown (5Y)Largest decline over 5 years | -26.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.59% | — | — |
Current DrawdownCurrent decline from peak | -2.04% | -16.53% | +14.49% |
Average DrawdownAverage peak-to-trough decline | -15.25% | -7.93% | -7.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 7.73% | -4.83% |
Volatility
PXF vs. GDE - Volatility Comparison
The current volatility for Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) is 6.76%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 10.77%. This indicates that PXF 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.
Loading charts...
Volatility by Period
| PXF | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.76% | 10.77% | -4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.95% | 25.97% | -12.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.18% | 29.88% | -13.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.62% | 27.09% | -10.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 27.09% | -9.02% |
PXF vs. GDE - Expense Ratio Comparison
PXF has a 0.45% expense ratio, which is higher than GDE's 0.20% expense ratio.
Dividends
PXF vs. GDE - Dividend Comparison
PXF's dividend yield for the trailing twelve months is around 3.12%, less than GDE's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.19% | 4.32% | 7.14% | 2.22% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 3.12% | 3.64% | 3.48% | 3.55% | 3.58% | 3.74% | 2.11% | 3.50% | 3.38% | 2.78% | 3.21% | 3.10% |
Frequently Asked Questions
PXF and GDE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDE has higher volatility (10.77%) compared to PXF (6.76%). In terms of maximum drawdown, PXF dropped -64.74% vs GDE's -32.01%.
On 3-year performance, GDE leads with 42.64% vs 23.81% for PXF. On fees, GDE is cheaper at 0.20% per year. On volatility, PXF has been the lower-risk option at 6.76%. 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 42.64% return vs 23.81%. 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 0.45% for PXF.
GDE has the higher dividend yield at 4.19%, compared with 3.12% for PXF.
PXF is categorized as Foreign Large Cap Equities, while GDE is Gold. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.45% for PXF and 0.20% for GDE.
PXF currently has the higher Sharpe Ratio (2.47 vs 1.39), 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.
Find the right allocation for PXF and GDE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer