RING vs. GDE

Last updated Jun 24, 2026

RING (iShares MSCI Global Gold Miners ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both Gold funds. RING is passively managed, while GDE is actively managed. Over the past 3 years, RING returned 44.79%/yr vs 40.84%/yr for GDE. A 0.70 correlation means they provide meaningful diversification when combined. RING charges 0.39%/yr vs 0.20%/yr for GDE.

Performance

RING vs. GDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Gold Miners ETF (RING) 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, RING achieves a -8.53% return, which is significantly lower than GDE's -0.50% return.

RING

• 1D: -4.54%
• 1M: -9.24%
• YTD: -8.53%
• 6M: -13.08%
• 1Y: 52.30%
• 3Y*: 44.79%
• 5Y*: 20.81%
• 10Y*: 12.92%

GDE

• 1D: -3.14%
• 1M: -10.04%
• YTD: -0.50%
• 6M: -5.03%
• 1Y: 37.19%
• 3Y*: 40.84%
• 5Y*: —
• 10Y*: —

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

RING vs. GDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RING iShares MSCI Global Gold Miners ETF	-8.53%	164.72%	15.98%	12.29%	-22.65%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	-0.50%	73.76%	44.79%	33.85%	-8.58%

Correlation

The correlation between RING and GDE is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.70

The correlation between RING and GDE has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

Return for Risk

RING vs. GDE — Risk / Return Rank

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

RING

RING Risk / Return Rank: 30
RING Sharpe Ratio Rank: 32
RING Sortino Ratio Rank: 29
RING Omega Ratio Rank: 32
RING Calmar Ratio Rank: 30
RING Martin Ratio Rank: 29

GDE

GDE Risk / Return Rank: 34
GDE Sharpe Ratio Rank: 36
GDE Sortino Ratio Rank: 32
GDE Omega Ratio Rank: 37
GDE Calmar Ratio Rank: 34
GDE Martin Ratio Rank: 32

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.

RING vs. GDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Gold Miners ETF (RING) 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.

	RING	GDE	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.23	-0.14
Sortino ratio: Return per unit of downside risk	1.53	1.65	-0.12
Omega ratio: Gain probability vs. loss probability	1.21	1.24	-0.03
Calmar ratio: Return relative to maximum drawdown	1.47	1.65	-0.18
Martin ratio: Return relative to average drawdown	3.91	4.59	-0.68

RING vs. GDE - Sharpe Ratio Comparison

The current RING Sharpe Ratio is 1.09, which is comparable to the GDE Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of RING 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.

Drawdowns

RING vs. GDE - Drawdown Comparison

The maximum RING drawdown since its inception was -79.47%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for RING and GDE.

Drawdown Indicators

	RING	GDE	Difference
Max Drawdown Largest peak-to-trough decline	-79.47%	-32.01%	-47.46%
Max Drawdown (1Y) Largest decline over 1 year	-35.72%	-22.66%	-13.06%
Max Drawdown (3Y) Largest decline over 3 years	-35.72%	-22.66%	-13.06%
Max Drawdown (5Y) Largest decline over 5 years	-47.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.04%	—	—
Current Drawdown Current decline from peak	-32.25%	-19.50%	-12.75%
Average Drawdown Average peak-to-trough decline	-47.33%	-7.97%	-39.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.40%	8.12%	+5.28%

Volatility

RING vs. GDE - Volatility Comparison

iShares MSCI Global Gold Miners ETF (RING) has a higher volatility of 17.22% compared to WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) at 11.41%. This indicates that RING'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.

Volatility by Period

	RING	GDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.22%	11.41%	+5.81%
Volatility (6M) Calculated over the trailing 6-month period	39.95%	26.51%	+13.44%
Volatility (1Y) Calculated over the trailing 1-year period	48.04%	30.33%	+17.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.94%	27.15%	+9.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.73%	27.15%	+9.58%

RING vs. GDE - Expense Ratio Comparison

RING has a 0.39% expense ratio, which is higher than GDE's 0.20% expense ratio.

Dividends

RING vs. GDE - Dividend Comparison

RING's dividend yield for the trailing twelve months is around 1.35%, less than GDE's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.34%	4.32%	7.14%	2.22%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RING iShares MSCI Global Gold Miners ETF	1.35%	0.84%	1.43%	2.01%	2.29%	2.38%	0.83%	0.83%	0.70%	0.42%	1.41%	0.96%

Frequently Asked Questions

Can I hold both RING and GDE in my portfolio?

RING and GDE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RING or GDE?

RING has higher volatility (17.22%) compared to GDE (11.41%). In terms of maximum drawdown, RING dropped -79.47% vs GDE's -32.01%.

Which ETF is better, RING or GDE?

On 3-year performance, RING leads with 44.79% vs 40.84% for GDE. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 11.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RING or GDE?

Over the 3-year period, RING has performed better with a 44.79% return vs 40.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RING or GDE?

GDE is cheaper with a 0.20% expense ratio, compared with 0.39% for RING.

Which ETF pays a higher dividend yield, RING or GDE?

GDE has the higher dividend yield at 4.34%, compared with 1.35% for RING.

What is the main difference between RING and GDE?

They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.39% for RING and 0.20% for GDE.

Which has better risk-adjusted returns?

GDE currently has the higher Sharpe Ratio (1.23 vs 1.09), 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.