SBT.TO vs. GDMN

Last updated Jun 4, 2026

SBT.TO (Purpose Silver Bullion Fund) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - SBT.TO is a Silver fund tracking the LBMA Silver Price, while GDMN is a Commodities fund actively managed by WisdomTree. SBT.TO is passively managed, while GDMN is actively managed. Over the past 3 years, SBT.TO returned 42.09%/yr vs 62.82%/yr for GDMN. At a 0.47 correlation, their price movements are largely independent. SBT.TO charges 0.36%/yr vs 0.45%/yr for GDMN.

Performance

SBT.TO vs. GDMN - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Silver Bullion Fund (SBT.TO) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SBT.TO is traded in CAD, while GDMN is traded in USD. To make them comparable, the GDMN values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SBT.TO achieves a 2.24% return, which is significantly higher than GDMN's -2.91% return.

SBT.TO

• 1D: -2.53%
• 1M: 0.38%
• YTD: 2.24%
• 6M: 24.07%
• 1Y: 105.34%
• 3Y*: 42.09%
• 5Y*: 18.84%
• 10Y*: 13.84%

GDMN

• 1D: -3.29%
• 1M: -0.48%
• YTD: -2.91%
• 6M: 2.33%
• 1Y: 79.21%
• 3Y*: 62.82%
• 5Y*: —
• 10Y*: —

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

SBT.TO vs. GDMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SBT.TO Purpose Silver Bullion Fund	2.24%	137.07%	18.55%	-0.86%	1.99%	4.14%
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	-2.91%	221.63%	39.25%	10.48%	-8.54%	4.04%

Correlation

The correlation between SBT.TO and GDMN 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	0.48
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.47

The correlation between SBT.TO and GDMN shifts across timeframes, from 0.47 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SBT.TO vs. GDMN — Risk / Return Rank

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

SBT.TO

SBT.TO Risk / Return Rank: 46
SBT.TO Sharpe Ratio Rank: 52
SBT.TO Sortino Ratio Rank: 39
SBT.TO Omega Ratio Rank: 55
SBT.TO Calmar Ratio Rank: 50
SBT.TO Martin Ratio Rank: 34

GDMN

GDMN Risk / Return Rank: 34
GDMN Sharpe Ratio Rank: 34
GDMN Sortino Ratio Rank: 30
GDMN Omega Ratio Rank: 36
GDMN Calmar Ratio Rank: 39
GDMN Martin Ratio Rank: 31

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.

SBT.TO vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN). 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.

	SBT.TO	GDMN	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.33	+0.47
Sortino ratio: Return per unit of downside risk	2.02	1.73	+0.30
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.09
Calmar ratio: Return relative to maximum drawdown	2.48	2.06	+0.42
Martin ratio: Return relative to average drawdown	5.33	4.90	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBT.TO vs. GDMN - Sharpe Ratio Comparison

The current SBT.TO Sharpe Ratio is 1.80, which is higher than the GDMN Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of SBT.TO and GDMN, 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

	SBT.TO	GDMN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	1.33	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.91	-0.70

Drawdowns

SBT.TO vs. GDMN - Drawdown Comparison

The maximum SBT.TO drawdown since its inception was -47.82%, roughly equal to the maximum GDMN drawdown of -49.27%. Use the drawdown chart below to compare losses from any high point for SBT.TO and GDMN.

Drawdown Indicators

	SBT.TO	GDMN	Difference
Max Drawdown Largest peak-to-trough decline	-47.82%	-49.27%	+1.45%
Max Drawdown (1Y) Largest decline over 1 year	-42.69%	-38.65%	-4.04%
Max Drawdown (3Y) Largest decline over 3 years	-42.69%	-38.65%	-4.04%
Max Drawdown (5Y) Largest decline over 5 years	-42.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.82%	—	—
Current Drawdown Current decline from peak	-37.47%	-35.86%	-1.61%
Average Drawdown Average peak-to-trough decline	-16.92%	-17.05%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.84%	16.21%	+3.63%

Volatility

SBT.TO vs. GDMN - Volatility Comparison

Purpose Silver Bullion Fund (SBT.TO) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) have volatilities of 17.19% and 17.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBT.TO	GDMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.19%	17.73%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	57.92%	50.40%	+7.52%
Volatility (1Y) Calculated over the trailing 1-year period	59.01%	59.94%	-0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.64%	45.15%	-8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.58%	45.15%	+21.43%

SBT.TO vs. GDMN - Expense Ratio Comparison

SBT.TO has a 0.36% expense ratio, which is lower than GDMN's 0.45% expense ratio.

Dividends

SBT.TO vs. GDMN - Dividend Comparison

SBT.TO has not paid dividends to shareholders, while GDMN's dividend yield for the trailing twelve months is around 2.82%.

Position	TTM	2025	2024	2023	2022
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	2.82%	2.70%	9.44%	7.69%	1.44%
SBT.TO Purpose Silver Bullion Fund	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SBT.TO and GDMN in my portfolio?

SBT.TO and GDMN 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 ETF is better, SBT.TO or GDMN?

On fees, SBT.TO is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SBT.TO or GDMN?

SBT.TO is cheaper with a 0.36% expense ratio, compared with 0.45% for GDMN.

What is the main difference between SBT.TO and GDMN?

SBT.TO is categorized as Silver, while GDMN is Commodities. They also come from different issuers: Purpose Investments and WisdomTree. Their fees differ too: 0.36% for SBT.TO and 0.45% for GDMN.