UBUD.DE vs. GDMN

Last updated Aug 6, 2026

UBUD.DE (UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist) and GDMN (WisdomTree Efficient Gold Plus Gold Miners Strategy Fund) are both exchange-traded funds - UBUD.DE is a Gold fund tracking the Solactive Global Pure Gold Miners, while GDMN is a Commodities fund actively managed by WisdomTree. UBUD.DE is passively managed, while GDMN is actively managed. Over the past 3 years, UBUD.DE returned 48.60%/yr vs 58.73%/yr for GDMN. Their 0.76 correlation means they have sometimes moved together and sometimes differently. UBUD.DE charges 0.43%/yr vs 0.45%/yr for GDMN.

Performance

UBUD.DE vs. GDMN - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) and WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UBUD.DE is traded in EUR, while GDMN is traded in USD. To make them comparable, the GDMN values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, UBUD.DE achieves a -6.35% return, which is significantly higher than GDMN's -9.45% return.

UBUD.DE

• 1D: 8.06%
• 1M: 4.25%
• 6M: -12.33%
• YTD: -6.35%
• 1Y: 53.51%
• 3Y*: 48.60%
• 5Y*: 27.63%
• 10Y*: 12.13%
• ALL TIME*: 6.70%

GDMN

• 1D: 9.79%
• 1M: 5.84%
• 6M: -26.81%
• YTD: -9.45%
• 1Y: 56.77%
• 3Y*: 58.73%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 34.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	€1.62M	€2.06M	€2.95M
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	€784.79K	€910.22K	€1.57M

UBUD.DE vs. GDMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	-6.35%	144.78%	34.71%	5.73%	0.21%	6.99%
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	-9.45%	197.09%	36.70%	9.58%	-9.33%	6.58%

Correlation

The correlation between UBUD.DE and GDMN is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.76

The correlation between UBUD.DE and GDMN has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.

Return for Risk

UBUD.DE vs. GDMN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UBUD.DE

UBUD.DE Risk / Return Rank: 35
UBUD.DE Sharpe Ratio Rank: 38
UBUD.DE Sortino Ratio Rank: 37
UBUD.DE Omega Ratio Rank: 36
UBUD.DE Calmar Ratio Rank: 36
UBUD.DE Martin Ratio Rank: 30

GDMN

GDMN Risk / Return Rank: 31
GDMN Sharpe Ratio Rank: 31
GDMN Sortino Ratio Rank: 32
GDMN Omega Ratio Rank: 35
GDMN Calmar Ratio Rank: 29
GDMN Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UBUD.DE vs. GDMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) 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.

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.

	UBUD.DE	GDMN	Difference
Sharpe ratio: Return per unit of total volatility	1.08	0.90	+0.18
Sortino ratio: Return per unit of downside risk	1.59	1.40	+0.19
Omega ratio: Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio: Return relative to maximum drawdown	1.42	1.13	+0.29
Martin ratio: Return relative to average drawdown	3.00	2.31	+0.69

UBUD.DE vs. GDMN - Sharpe Ratio Comparison

The current UBUD.DE Sharpe Ratio is 1.08, which is comparable to the GDMN Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of UBUD.DE 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.

Drawdowns

UBUD.DE vs. GDMN - Drawdown Comparison

The maximum UBUD.DE drawdown since its inception was -71.17%, which is greater than GDMN's maximum drawdown of -50.71%. Use the drawdown chart below to compare losses from any high point for UBUD.DE and GDMN.

Drawdown Indicators

	UBUD.DE	GDMN	Difference
Max Drawdown Largest peak-to-trough decline	-71.17%	-50.71%	-20.46%
Max Drawdown (1Y) Largest decline over 1 year	-37.53%	-50.71%	+13.18%
Max Drawdown (3Y) Largest decline over 3 years	-37.53%	-50.71%	+13.18%
Max Drawdown (5Y) Largest decline over 5 years	-38.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.83%	—	—
Current Drawdown Current decline from peak	-27.16%	-40.67%	+13.51%
Average Drawdown Average peak-to-trough decline	-37.22%	-19.28%	-17.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.77%	24.64%	-6.87%

Volatility

UBUD.DE vs. GDMN - Volatility Comparison

The current volatility for UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) is 15.32%, while WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) has a volatility of 16.97%. This indicates that UBUD.DE experiences smaller price fluctuations and is considered to be less risky than GDMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBUD.DE	GDMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.32%	16.97%	-1.65%
Volatility (6M) Calculated over the trailing 6-month period	37.15%	47.48%	-10.33%
Volatility (1Y) Calculated over the trailing 1-year period	49.63%	63.45%	-13.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.83%	45.73%	-8.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.24%	45.73%	-8.49%

UBUD.DE vs. GDMN - Expense Ratio Comparison

UBUD.DE has a 0.43% expense ratio, which is lower than GDMN's 0.45% expense ratio.

Dividends

UBUD.DE vs. GDMN - Dividend Comparison

UBUD.DE's dividend yield for the trailing twelve months is around 0.43%, less than GDMN's 3.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund	3.03%	2.70%	9.44%	7.69%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	0.43%	0.44%	0.61%	1.13%	1.20%	1.38%	0.50%	0.47%	0.56%	0.54%	0.47%	1.53%

Frequently Asked Questions

Can I hold both UBUD.DE and GDMN in my portfolio?

UBUD.DE and GDMN have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBUD.DE or GDMN?

On fees, UBUD.DE is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UBUD.DE or GDMN?

UBUD.DE is cheaper with a 0.43% expense ratio, compared with 0.45% for GDMN.

What is the main difference between UBUD.DE and GDMN?

UBUD.DE is categorized as Gold, while GDMN is Commodities. They also come from different issuers: UBS and WisdomTree. Their fees differ too: 0.43% for UBUD.DE and 0.45% for GDMN.