At a glance
GDE charges 0.2% a year, above the 0.1% average of the 8 funds most like it (the 7th cheapest of 9). It has $481.7M in assets, the 8th largest of that group; it paid 20.78% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +8.7% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +44.1% a year. Its ten largest positions make up 35.4% of the fund, out of 504 in all.
The short version
WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) is an actively managed ETF. It holds about 500 large US stocks, weighted by company size, and adds gold exposure through US-listed gold futures. Futures need only collateral, so the fund aims for roughly equal stock and gold exposure that together add up to more than the money invested. That built-in leverage, quarterly rebalancing and a 0.20% expense ratio set it apart from a plain stock or gold fund.
Price history
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GDE +8.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GDE official prospectus, to Dec 31, 2024 | — | +45.39% | — | — | — | +18.63% |
| Index44 index, same period | — | +25.02% | — | — | — | +13.06% |
| GDE price data to Oct 27, 2026 | +1.7% | +8.7% | +44.1% | — | — | +24.8% |
- Over the year to Oct 27, 2026, GDE returned +8.7%, 8th of 9 among similar funds.
- Its worst full calendar year was 2023 (+33.9%); its best was 2025 (+73.8%).
- The deepest fall in its price history was 32% (Mar 30, 2022 to Oct 14, 2022), recovered by Dec 1, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +1.7% | — |
| 2025 | +73.8% | — |
| 2024 | +44.8% | +45.39% |
| 2023 | +33.9% | +32.64% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $8.5800 | |
| 2025 | $2.6600 | +0.4% |
| 2024 | $2.6500 | +334.4% |
| 2023 | $0.6100 |
What's inside
As of Aug 31, 2026, the fund held 504 securities; the ten largest made up 35.4% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORP | 7.17% | |
| APPLE INC | 6.25% | |
| ALPHABET INC | 5.34% | |
| MICROSOFT CORP | 4.89% | |
| AMAZON.COM INC | 3.48% | |
| BROADCOM INC | 2.13% | |
| META PLATFORMS INC | 1.84% | |
| ELI LILLY & COMPANY | 1.48% | |
| BERKSHIRE HATHAWAY INC | 1.41% | |
| TESLA INC | 1.41% | |
| MICRON TECHNOLOGY INC | 1.35% | |
| JP MORGAN CHASE & COMPANY | 1.26% | |
| WALMART INC | 1.06% | |
| ADVANCED MICRO DEVICES INC | 1.02% | |
| VISA INC | 0.98% |
By country
United States 87.13%Ireland 0.64%Switzerland 0.13%Cayman Islands 0.07%Curaçao 0.04%By asset type
Stocks 88.23%By sector
Sectors of the companies held, for the 81.9% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $91.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -12.03%, +0.15%, +10.63%.
How it works
GDE is actively managed using a proprietary, model-based approach. It has two parts. The first is a representative basket of large US companies, generally weighted by market capitalization (share price times shares outstanding). The second is US-listed gold futures. The fund targets roughly equal exposure to each. As of August 31, 2026, it held 504 stocks. The largest were NVIDIA (7.2%), Apple (6.3%), Alphabet (5.3%), Microsoft (4.9%) and Amazon (3.5%), and the top 10 made up 35.4% of net assets.
A gold futures contract is an agreement to buy gold at a set price on a future date. It needs only collateral up front, which the fund holds in US Treasuries and other short-term investments. So most of the money can stay in stocks while gold exposure is added on top. This creates leverage, which magnifies both gains and losses. The gold side sits mainly in a wholly owned Cayman Islands subsidiary. That subsidiary is capped at 25% of the fund's total assets at each fiscal quarter-end, which helps the fund meet tax rules for regulated investment companies. The fund holds no physical gold.
The fund rebalances quarterly, and sooner if its mix drifts more than 5% from target. Between rebalances, its weights can wander. Unlike 2x trading funds, it does not reset its exposure every day. The prospectus reports portfolio turnover of 30%. The fund usually redeems shares for cash, so it may realize taxable gains.
What it really costs
- GDE charges 0.2% a year, versus an average of 0.1% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GDE | $20 | $64 | $113 | $255 |
In a retirement portfolio
Built-in leverage and 30.8% one-year volatility make it a higher-risk add-on rather than a core stock holding.
GDE could add gold to a stock allocation without shrinking the stock side, but the ride is rougher. It launched in March 2022, so it has no record from the 2008 or 2020 crashes. It did fall 32% from March 30 to October 14, 2022, and regained its peak on December 1, 2023, 13.6 months after the low. Every full calendar year since has been positive. Still, volatility was 30.8% over the year to October 27, 2026, and its beta was 1.56, meaning it has moved more than the stock market. Someone forced to cash out in a slump could lock in deep losses. The trailing yield was 20.78% as of October 27, 2026, paid twice a year. That figure was likely boosted by gain distributions that may not repeat. The annual cost is 0.20%. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting large U.S. companies such as NVIDIA, Apple and Alphabet plus gold exposure in one ticker, for a 0.20% annual expense ratio.
- Investors wanting gold without trimming their stock holdings, as futures add gold exposure roughly matching the stock side while tying up fewer assets.
- Patient investors who accept big swings: GDE returned 44.1% a year over the three years to October 27, 2026, though past gains may not repeat.
Look elsewhere if
- Anyone wanting a smoother ride: leverage magnifies swings; GDE fell 32% in 2022 and up to 22.7% in the year to October 27, 2026.
- Stock-only investors focused on cost: GDE's 0.20% expense ratio is double the 0.10% peer average; Vanguard Large Cap ETF (VV) charges 0.04%.
- Investors wanting a long track record: GDE launched March 17, 2022, so it has no history through the 2008 or 2020 crashes.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GDE this fund | — | 0.2% | $481.7M | +8.7% | +44.1% |
| VOTE TCW Transform 500 ETF | 83% | 0.05% | $1.10B | +13.5% | +25.2% |
| BKLC BNY Mellon US Large Cap Core Equity ETF | 83% | 0% | $5.47B | +13.4% | +25.4% |
| PBUS Invesco MSCI USA ETF | 83% | 0.04% | $11.67B | +13.1% | +24.9% |
| BBUS JPMorgan BetaBuilders U.S. Equity ETF | 83% | 0.02% | $8.89B | +13.0% | +24.8% |
| ONOF Global X Adaptive U.S. Risk Management ETF | 83% | 0.39% | $141.7M | +9.4% | +15.9% |
| NTSX WisdomTree U.S. Efficient Core Fund | 83% | 0.2% | $1.36B | +8.7% | +23.0% |
| USPX Franklin U.S. Equity Index ETF | 81% | 0.03% | $1.98B | +12.9% | +24.9% |
Questions investors ask
Is GDE a leveraged ETF?
Yes, but not in the way daily 2x funds are. GDE uses gold futures, which need only collateral, to hold large US stocks and gold exposure of roughly equal size. Its total exposure is therefore larger than the money invested, and WisdomTree's prospectus lists leveraging risk, which magnifies gains and losses. Unlike daily-reset funds, GDE rebalances quarterly, or sooner if its mix drifts more than 5% from target. Its beta was 1.56 over the year to October 27, 2026.
Does GDE own physical gold?
No. The prospectus says the fund won't invest directly in physical commodities. Its gold exposure comes from US-listed gold futures, held mainly through a wholly owned subsidiary in the Cayman Islands. That subsidiary can't exceed 25% of the fund's total assets at each fiscal quarter-end. This setup lets the fund meet tax rules for regulated investment companies. Investors who want metal held in a vault may want to compare physically backed gold funds instead.
Does GDE pay dividends?
Yes, twice a year. Over the 12 months to October 27, 2026, it paid $11.24 a share, a trailing yield of 20.78%. That is unusually high for a fund whose largest stocks are NVIDIA, Apple and Alphabet. It likely reflects gains passed on to shareholders rather than regular dividend income. Payouts from a fund like this can vary widely from year to year, so the trailing figure isn't a reliable guide to future income.
How has GDE performed since it launched?
Returns have been strong, with large swings along the way. According to the prospectus, it returned 32.64% in 2023 and 45.39% in 2024. It averaged 18.63% a year from its March 2022 launch through December 31, 2024. Based on market price, it gained 73.8% in 2025 and 1.7% in 2026 through October 27. It also fell 32% in 2022 and didn't recover until December 2023. Past results don't predict future returns.
GDE vs owning a stock ETF and a gold ETF separately?
The main difference is leverage. If you split money between a stock fund and a gold fund, each dollar buys one or the other. GDE keeps most of its assets in stocks and still aims for roughly equal gold exposure, and it rebalances quarterly for you. The trade-off is bigger losses when stocks and gold fall together. GDE charges 0.20% a year. In the SEC's standard $10,000 example, that is $20 in year one and $255 over 10 years.