GDMN ETF: What Is It? Returns, Expense Ratio, Holdings and Alternative ETFs Explained
The WisdomTree Gold+Gold Miners ETF (GDMN) is a capital-efficient product that combines US-listed gold futures and global gold mining stocks in a single fund. It suits investors who want exposure to both gold prices and gold miners, and the key selection criteria are its combined strategy, management fee and distributions.
SubscribeWhat Is the WisdomTree Gold+Gold Miners ETF?
This is an actively managed ETF that holds US-listed gold futures contracts together with shares of gold mining companies around the world. Through a capital-efficient structure, it seeks exposure to both gold prices and gold miners with the same invested capital.
It suits investors who want exposure to gold prices and gold mining stocks in a single product.
It is an ETF run by WisdomTree using an active management approach.
How Does the WisdomTree Gold+Gold Miners ETF Invest?
| Item | Details |
|---|---|
| Underlying assets | Gold futures + global gold mining stocks |
| Management style | Active (model-based management) |
| Rebalancing frequency | Adjusted according to the management model |
| Distribution frequency | Twice a year |
| Issuer | WisdomTree |
| Total expense ratio | 0.45% |
The fund gains exposure to gold prices through US-listed gold futures contracts, and at the same time holds, on a market-cap-weighted basis, shares of global companies that earn a significant portion of their profits from gold mining. It applies a capital-efficient structure that uses short-term liquid assets such as US Treasuries as collateral for the gold futures.
- Combines gold futures and gold mining stock exposure in one fund
- Seeks dual exposure with the same invested capital through a capital-efficient structure
WisdomTree Gold+Gold Miners ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $150.0M, and the total expense ratio is 0.45% per year.
For same-category comparison, the table shows GDE, another WisdomTree capital-efficient product, along with precious metal and real asset ETFs such as SLVX, GLDN and ESBG. However, these differ in underlying assets, management fees and distribution policies, so it is better to first check the assets each product is exposed to rather than make a simple comparison.
WisdomTree Gold+Gold Miners ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangePerformance is linked to both the spot gold price and the movement of global gold mining stocks, and because of the nature of miners, it may tend to reflect gold price swings in amplified form. Short-term volatility varies with gold prices and conditions in the mining industry.
When gold draws attention as a safe-haven asset or an inflation hedge, investor interest tends to shift toward related ETFs. Because the fund is non-diversified, its fund flows react sensitively to the overall environment of the gold market.
WisdomTree Gold+Gold Miners ETF Pros and Cons
Its strength is that it captures gold and gold miners at once, while its weakness is that the two risks overlap and can increase volatility.
💪 Key Strengths
⚠️ Points to Watch
WisdomTree Gold+Gold Miners ETF Alternative ETFs and Related Products
If you want to focus on gold miners, you could consider GDX, a leading gold mining company ETF, or GDXJ, which is exposed to small and mid-cap gold miners. If you only want to track the spot gold price, the physical gold ETF GLD or the lower-fee GLDM are direct alternatives. GDE, another WisdomTree capital-efficient product that combines gold futures and US equities, is also worth comparing.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 GDE | WisdomTree Efficient Gold Plus Equity Strategy Fund | $51.40 | +0.5% | $375.0M | 0.20% | 16.98% | -11.2% |
 SLVX | Nicholas Silver Income ETF | $10.72 | +2.1% | $7.4M | 1.16% | 24.71% | - |
 GLDN | Nicholas Gold Income ETF | $13.94 | +2.5% | $3.7M | 1.07% | 12.01% | - |
 ESBG | First Trust Enhanced Stocks, Bonds & Gold ETF | $19.71 | +0.9% | $2.0M | 0.95% | 1.59% | - |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| NEM | Newmont Corp | 0.30% | $109.09 | +2.3% | $113.4B | 12.7 | 0.95% |
| AU | AngloGold Ashanti Plc | 0.08% | $82.26 | +3.1% | $41.5B | 11.0 | 5.8% |
| AEM | Agnico Eagle Mines Ltd | 0.22% | $170.41 | +3.0% | $86.8B | 13.9 | 0.95% |
| B | Barrick Mining Corp | 0.21% | $37.97 | +2.6% | $62.5B | 9.8 | 2.91% |
WisdomTree Gold+Gold Miners ETF Investor Checkpoints
Here are the points to review before investing in GDMN. Since the fund combines gold and gold miners in a single structure, it is important to understand its volatility, costs and exposure method, and to confirm beforehand that it fits your own gold investment goals.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Management fee | Check the level of the active management fee | Needs confirmation |
| 📊 Exposure structure | Understand how gold futures and gold miners are combined | Dual exposure |
| 🌗 Volatility | Review the amplified volatility of gold miners | May be amplified |
| 💱 Exchange rate | Impact on returns converted to Korean won | No currency hedge |
The amplified volatility of gold miners and the non-diversified structure are the main drivers of short-term volatility. If gold prices turn weaker, gold miners may reflect the decline in amplified form, which can widen losses.
It is a suitable choice for investors who want to combine gold and gold miner exposure in one product. If you want only spot gold, GLD or GLDM, and if you want only gold miners, GDX or GDXJ, can be simpler alternatives.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 19, 2026.
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