WAMA vs. GMMA

Last updated Jun 4, 2026

WAMA (WisdomTree U.S. Adaptive Moving Average Fund) and GMMA (GammaRoad Market Navigation ETF) are both Tactical Allocation funds - WAMA tracks the WisdomTree U.S. Adaptive Moving Average Index while GMMA tracks the MarketVector GammaRoad U.S. Equity Strategy Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. WAMA charges 0.32%/yr vs 0.75%/yr for GMMA.

Performance

WAMA vs. GMMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. Adaptive Moving Average Fund (WAMA) and GammaRoad Market Navigation ETF (GMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WAMA

• 1D: -0.73%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMMA

• 1D: -0.41%
• 1M: 3.45%
• YTD: 3.61%
• 6M: 3.75%
• 1Y: 10.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WAMA vs. GMMA - Yearly Performance Comparison

	2026 (YTD)
WAMA WisdomTree U.S. Adaptive Moving Average Fund	2.77%
GMMA GammaRoad Market Navigation ETF	1.93%

Correlation

The correlation between WAMA and GMMA is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 7, 2026	0.98

Return for Risk

WAMA vs. GMMA — Risk / Return Rank

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

GMMA

GMMA Risk / Return Rank: 65
GMMA Sharpe Ratio Rank: 62
GMMA Sortino Ratio Rank: 64
GMMA Omega Ratio Rank: 68
GMMA Calmar Ratio Rank: 66
GMMA Martin Ratio Rank: 63

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.

WAMA vs. GMMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Adaptive Moving Average Fund (WAMA) and GammaRoad Market Navigation ETF (GMMA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	WAMA	GMMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.87	1.09	+3.78

Drawdowns

WAMA vs. GMMA - Drawdown Comparison

The maximum WAMA drawdown since its inception was -1.91%, smaller than the maximum GMMA drawdown of -5.21%. Use the drawdown chart below to compare losses from any high point for WAMA and GMMA.

Drawdown Indicators

	WAMA	GMMA	Difference
Max Drawdown Largest peak-to-trough decline	-1.91%	-5.21%	+3.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.39%	—
Current Drawdown Current decline from peak	-0.73%	-0.41%	-0.32%
Average Drawdown Average peak-to-trough decline	-0.39%	-1.23%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.97%	—

Volatility

Volatility by Period

	WAMA	GMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.20%	5.32%	+3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.20%	7.10%	+2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.20%	7.10%	+2.10%

WAMA vs. GMMA - Expense Ratio Comparison

WAMA has a 0.32% expense ratio, which is lower than GMMA's 0.75% expense ratio.

Dividends

WAMA vs. GMMA - Dividend Comparison

WAMA has not paid dividends to shareholders, while GMMA's dividend yield for the trailing twelve months is around 3.65%.

Position	TTM	2025	2024
GMMA GammaRoad Market Navigation ETF	3.65%	3.00%	0.57%
WAMA WisdomTree U.S. Adaptive Moving Average Fund	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WAMA and GMMA in my portfolio?

With a correlation of 0.98, WAMA and GMMA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, WAMA or GMMA?

On fees, WAMA is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAMA or GMMA?

WAMA is cheaper with a 0.32% expense ratio, compared with 0.75% for GMMA.

Which ETF pays a higher dividend yield, WAMA or GMMA?

GMMA has the higher dividend yield at 3.65%, compared with 0.00% for WAMA.

What is the main difference between WAMA and GMMA?

WAMA tracks WisdomTree U.S. Adaptive Moving Average Index, while GMMA tracks MarketVector GammaRoad U.S. Equity Strategy Index. They also come from different issuers: WisdomTree and GammaRoad Capital Partners. Their fees differ too: 0.32% for WAMA and 0.75% for GMMA.