WOOD vs. GOEX

Last updated Jun 25, 2026

WOOD (iShares Global Timber & Forestry ETF) and GOEX (Global X Gold Explorers ETF) are both exchange-traded funds - WOOD is a Materials fund tracking the S&P Global Timber & Forestry Index, while GOEX is a Gold fund tracking the Solactive Global Gold Explorers & Developers Total Return. Both are passively managed. Over the past 10 years, WOOD returned 6.12%/yr vs 11.36%/yr for GOEX. At a 0.28 correlation, their price movements are largely independent. WOOD charges 0.46%/yr vs 0.65%/yr for GOEX.

Performance

WOOD vs. GOEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Timber & Forestry ETF (WOOD) and Global X Gold Explorers ETF (GOEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WOOD achieves a -5.94% return, which is significantly higher than GOEX's -15.60% return. Over the past 10 years, WOOD has underperformed GOEX with an annualized return of 6.12%, while GOEX has yielded a comparatively higher 11.36% annualized return.

WOOD

• 1D: 1.45%
• 1M: 3.06%
• YTD: -5.94%
• 6M: -5.30%
• 1Y: -6.26%
• 3Y*: 0.47%
• 5Y*: -3.10%
• 10Y*: 6.12%

GOEX

• 1D: -5.31%
• 1M: -12.04%
• YTD: -15.60%
• 6M: -18.63%
• 1Y: 52.03%
• 3Y*: 44.06%
• 5Y*: 18.37%
• 10Y*: 11.36%

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

WOOD vs. GOEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WOOD iShares Global Timber & Forestry ETF	-5.94%	-3.27%	-4.21%	13.84%	-19.39%	17.03%	20.36%	19.75%	-17.73%	34.49%
GOEX Global X Gold Explorers ETF	-15.60%	179.50%	19.38%	1.99%	-14.63%	-14.45%	34.98%	36.73%	-14.84%	12.61%

Correlation

The correlation between WOOD and GOEX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Nov 4, 2010	0.28

The correlation between WOOD and GOEX shifts across timeframes, from 0.28 (all time) to 0.40 (5 years), reflecting how their relationship changes across market environments.

WOOD vs. GOEX - Sectors Allocation Comparison

Sectors	WOOD	GOEX
Basic Materials	62.4%	100.0%
Consumer Cyclical	24.6%	-
Real Estate	13.0%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.1%
Technology	-	-
Utilities	-	-

Return for Risk

WOOD vs. GOEX — Risk / Return Rank

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

WOOD

WOOD Risk / Return Rank: 6
WOOD Sharpe Ratio Rank: 6
WOOD Sortino Ratio Rank: 6
WOOD Omega Ratio Rank: 6
WOOD Calmar Ratio Rank: 7
WOOD Martin Ratio Rank: 7

GOEX

GOEX Risk / Return Rank: 29
GOEX Sharpe Ratio Rank: 31
GOEX Sortino Ratio Rank: 29
GOEX Omega Ratio Rank: 32
GOEX Calmar Ratio Rank: 29
GOEX Martin Ratio Rank: 27

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.

WOOD vs. GOEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Timber & Forestry ETF (WOOD) and Global X Gold Explorers ETF (GOEX). 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.

	WOOD	GOEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	1.01	-1.34
Sortino ratio: Return per unit of downside risk	-0.35	1.48	-1.83
Omega ratio: Gain probability vs. loss probability	0.96	1.20	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.29	1.32	-1.61
Martin ratio: Return relative to average drawdown	-0.62	3.46	-4.07

WOOD vs. GOEX - Sharpe Ratio Comparison

The current WOOD Sharpe Ratio is -0.33, which is lower than the GOEX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of WOOD and GOEX, 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

WOOD vs. GOEX - Drawdown Comparison

The maximum WOOD drawdown since its inception was -63.25%, smaller than the maximum GOEX drawdown of -88.83%. Use the drawdown chart below to compare losses from any high point for WOOD and GOEX.

Drawdown Indicators

	WOOD	GOEX	Difference
Max Drawdown Largest peak-to-trough decline	-63.25%	-88.83%	+25.58%
Max Drawdown (1Y) Largest decline over 1 year	-21.64%	-39.64%	+18.00%
Max Drawdown (3Y) Largest decline over 3 years	-22.79%	-39.64%	+16.85%
Max Drawdown (5Y) Largest decline over 5 years	-30.71%	-47.16%	+16.45%
Max Drawdown (10Y) Largest decline over 10 years	-50.20%	-53.66%	+3.46%
Current Drawdown Current decline from peak	-23.48%	-37.71%	+14.23%
Average Drawdown Average peak-to-trough decline	-14.79%	-63.46%	+48.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.20%	15.10%	-4.90%

Volatility

WOOD vs. GOEX - Volatility Comparison

The current volatility for iShares Global Timber & Forestry ETF (WOOD) is 5.25%, while Global X Gold Explorers ETF (GOEX) has a volatility of 19.13%. This indicates that WOOD experiences smaller price fluctuations and is considered to be less risky than GOEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WOOD	GOEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	19.13%	-13.88%
Volatility (6M) Calculated over the trailing 6-month period	14.28%	42.94%	-28.66%
Volatility (1Y) Calculated over the trailing 1-year period	18.95%	51.80%	-32.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	39.65%	-19.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.76%	40.20%	-18.44%

WOOD vs. GOEX - Expense Ratio Comparison

WOOD has a 0.46% expense ratio, which is lower than GOEX's 0.65% expense ratio.

Dividends

WOOD vs. GOEX - Dividend Comparison

WOOD's dividend yield for the trailing twelve months is around 2.51%, more than GOEX's 2.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOEX Global X Gold Explorers ETF	2.46%	2.08%	2.46%	0.05%	1.04%	2.35%	2.62%	1.60%	0.00%	0.00%	38.91%	11.70%
WOOD iShares Global Timber & Forestry ETF	2.51%	2.51%	2.09%	1.64%	2.26%	1.24%	0.98%	1.85%	2.82%	1.19%	1.65%	2.04%

Frequently Asked Questions

Can I hold both WOOD and GOEX in my portfolio?

WOOD and GOEX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WOOD or GOEX?

GOEX has higher volatility (19.13%) compared to WOOD (5.25%). In terms of maximum drawdown, WOOD dropped -63.25% vs GOEX's -88.83%.

Which ETF is better, WOOD or GOEX?

On 10-year performance, GOEX leads with 11.36% vs 6.12% for WOOD. On fees, WOOD is cheaper at 0.46% per year. On volatility, WOOD has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WOOD or GOEX?

Over the 10-year period, GOEX has performed better with a 11.36% return vs 6.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WOOD or GOEX?

WOOD is cheaper with a 0.46% expense ratio, compared with 0.65% for GOEX.

Which ETF pays a higher dividend yield, WOOD or GOEX?

WOOD has the higher dividend yield at 2.51%, compared with 2.46% for GOEX.

What is the main difference between WOOD and GOEX?

WOOD is categorized as Materials, while GOEX is Gold. WOOD tracks S&P Global Timber & Forestry Index, while GOEX tracks Solactive Global Gold Explorers & Developers Total Return. They also come from different issuers: iShares and Global X. Their fees differ too: 0.46% for WOOD and 0.65% for GOEX.

Which has better risk-adjusted returns?

GOEX currently has the higher Sharpe Ratio (1.01 vs -0.33), 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.