GDMA vs IRTR: Grades, Fees and Holdings Compared

Gadsden Dynamic Multi-Asset ETF

GDMADCboe

iShares LifePath Retirement ETF

IRTRANYSE Arca

Overlap

4.7%by weight

Expense ratio

IRTR −0.67pt a year

GDMA0.75%IRTR0.08%

Avg volume · 30D

GDMA 1.1×the volume

GDMA14.3KIRTR12.7K

3Y return · a year

IRTR +0.2pt

GDMA+12.9%IRTR+13.1%

GDMA vs IRTR Performance

Oct 31, 2025 – Oct 30, 2026

+5.8%GDMA+5.1%IRTR

Expense ratio: GDMA 0.75%; IRTR 0.08%, better
Fund size: GDMA $213M; IRTR $60M
1Y total return: GDMA +5.8%, better; IRTR +5.1%
Yield (12M): GDMA 2.67%; IRTR 3.17%, better
Holdings: GDMA 19; IRTR 29140
Avg volume (30D): GDMA 14.3K sh, better; IRTR 12.7K sh
NAV per share: GDMA $40.26; IRTR $31.52
52W range

ETF.net Grade

Pillar letters and Scores for GDMA, IRTR, with each pillar’s weight
Pillar	GDMA	IRTR
Cost30% weight	D38	A97Higher
Mission25% weight	F17	A100Higher
Risk15% weight	C44	A82Higher
Tradability15% weight	B69Higher	B62
Holdings10% weight	C40	A80Higher
Durability5% weight	B62Higher	B56

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. GDMA and IRTR are both graded against the same 37 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 37 funds

See all 37 ›

IRTR ranks 3rd and GDMA 28th of 37 funds in the Multi-Asset Allocation Category.

Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
Rank 3AIRTRiShares LifePath Retirement ETFScore 86
Rank 4AINCEFranklin Income Equity Focus ETFScore 74
Rank 26CMHIGMilliman Healthcare Inflation Guard ETFScore 40
Rank 28DGDMAGadsden Dynamic Multi-Asset ETFScore 39
Rank 29DWTIPWisdomTree Inflation Plus FundScore 38

Our read on each fund

ETF.net Research

GDMADGadsden Dynamic Multi-Asset ETF

IRTRAiShares LifePath Retirement ETF

In short

GDMA A go-anywhere allocation fund with no benchmark to hug: Gadsden's managers blend a long-term macro view with short-term tactical shifts across global stocks, bonds, currencies and REITs.

IRTR A whole retirement portfolio in one ticker: global stock and bond ETFs blended at the conservative end, for 0.08% a year. That is index-fund pricing on a job most allocation funds charge roughly ten times more to do.

Stated mandate

GDMA The Fund seeks total return through active allocation among asset classes selected for their perceived risk/return opportunities. Its allocations can span global markets and may change with strategic and tactical views.

IRTR The fund seeks conservative exposure through a broad portfolio of stock and bond ETFs spanning global asset classes.

Why people hold it

GDMA Genuinely unconstrained: the prospectus lets it roam US equities, foreign securities, currencies, bonds and REITs, and hold heavy exposure to a single asset class.etfarchitect.com
Two gears by design, a strategic sleeve built on long-term macro views and a tactical sleeve that can reposition on short-term ones, both screened fundamentally and quantitatively.etfarchitect.com
Trading since 2018, so there is a real multi-cycle live record to judge instead of a backtest.

IRTR Costs 0.08% a year against a 0.78% median for allocation funds. Roughly a tenth of the going rate for a portfolio-in-a-box.
One line item, global coverage. The fund holds a spread of stock and bond ETFs across asset classes, so the mixing happens inside the wrapper.ishares.com
Distributions come monthly rather than quarterly.
One of the strongest all-in-one allocation funds in its peer group, and the cheapest of that top tier: iShares' own AOA runs 0.19%.

Worth knowing

GDMA 0.75% all-in (it includes the fees of the funds it holds), with no waiver, above the category median. Index-built peers like UCBG (0.06%) run far cheaper.
No index to lean on. The prospectus says risk and return are not managed against any benchmark, and the tactical-plus-strategic blend is expected to turn over faster than peers.etfarchitect.com sec.gov
Thinly traded with a modest asset base, so the bid-ask gap can matter more here than with the category's giants.

IRTR Thinly traded. Spreads can run wider than on household-name ETFs, so limit orders matter more here.
Launched in 2023, so the track record is short and the fund is still building scale.
Conservative by construction: it is built to move less than an all-stock portfolio, and that cuts in both directions.ishares.com

Full GDMA profile⁠

Full IRTR profile⁠

GDMA vs IRTR Holdings

How GDMA and IRTR differ

Overlap by weight

4.7%

Shared holdings make up 6.6% of GDMA and 4.7% of IRTR.

Level by level

Holdings5 in both4.7%
Sector11 Sectors87.6%
Countryby domicile93.0%

Sector

Sector weights in GDMA and IRTR, widest gap first
Sector	More in GDMAMore in IRTR	GDMA	IRTR
Technology	GDMA +5.5 points	36.0%	30.5%
Industrials	IRTR +4.1 points	7.8%	11.9%
Energy	GDMA +3.7 points	8.3%	4.6%
Utilities	IRTR +2.6 points	1.3%	3.9%
Materials	GDMA +1.8 points	5.3%	3.5%
Real Estate	IRTR +1.7 points	1.5%	3.2%
Health Care	GDMA +1.5 points	9.7%	8.2%
Financials	IRTR +1.3 points	13.4%	14.7%
Consumer Discretionary	IRTR +1.2 points	6.7%	7.9%
Consumer Staples	IRTR +1.0 points	3.2%	4.2%
Communication	IRTR +0.5 points	6.9%	7.3%

Country, concentration and asset class

Country by domicile

Country weights in GDMA and IRTR, widest gap first
Country	More in GDMAMore in IRTR	GDMA	IRTR
Japan	IRTR +2.6 points	0.0%	2.6%
United States	GDMA +2.4 points	95.1%	92.7%
China	GDMA +1.9 points	1.9%	0.0%
Singapore	GDMA +1.9 points	1.9%	0.0%
United Kingdom	IRTR +1.6 points	0.1%	1.7%
Canada	IRTR +1.5 points	0.1%	1.6%
Taiwan	IRTR +1.4 points	0.0%	1.4%
Other countries (12)	GDMA +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

GDMA89.3%
IRTR10.0%

Securities held

GDMA18
IRTR29,043

Asset class

GDMA: Multi-Asset
IRTR: Multi-Asset

Holdings

Only in GDMA13
In both5
Only in IRTR29,038

Only in GDMA

13 securities, 93.3% of GDMA by weight

Alpha Architect 1-3 Month Box ETF58.67%
State Street Health Care Select Sector SPDR ETF5.22%
Vanguard Morningstar Total Stock Market ETF4.93%
State Street Energy Select Sector SPDR ETF3.12%
United States Brent Oil Fund LP3.11%
State Street Financial Select Sector SPDR ETF3.09%
State Street Industrial Select Sector SPDR ETF3.00%
abrdn Physical Gold Shares ETF2.84%
iShares GSCI Commodity Dynamic Roll Strategy ETF2.69%
VanEck Bitcoin ETF/US2.59%
iShares MSCI Singapore ETF1.91%
KraneShares China Technology & Semiconductor STAR 50 Index ETF1.73%
First American Government Obligations Fund 12/01/20310.46%

Only in IRTR

29,038 securities, 94.8% of IRTR by weight

NVIDIA1.62%
Treasury Note 1.38% 11/15/2031 (Tnote)1.28%
Treasury Note 2.63% 02/15/2029 (Tnote)0.76%
Alphabet Class A0.55%
Treasury Note 3.13% 11/15/2028 (Tnote)0.54%
Treasury (Cpi) Note 1.13% 10/15/2030 (Tips)0.54%
Treasury (Cpi) Note 1.25% 04/15/2031 (Tips)0.54%
Taiwan Semiconductor Manufacturing0.53%
Treasury (Cpi) Note 1.63% 04/15/2030 (Tips)0.52%
Broadcom Inc0.51%
Treasury (Cpi) Note 1.63% 10/15/2029 (Tips)0.51%
Treasury Note 2.75% 02/15/2028 (Tnote)0.50%
Treasury (Cpi) Note 2.13% 04/15/2029 (Tips)0.49%
Treasury (Cpi) Note 2.38% 10/15/2028 (Tips)0.49%
Treasury (Cpi) Note 1.63% 10/15/2027 (Tips)0.48%
Treasury (Cpi) Note 1.25% 04/15/2028 (Tips)0.47%
Treasury (Cpi) Note 0.13% 04/15/2027 (Tips)0.47%
Treasury (Cpi) Note 0.13% 01/15/2031 (Tips)0.46%
Treasury (Cpi) Note 0.13% 07/15/2031 (Tips)0.46%
Treasury (Cpi) Note 0.13% 07/15/2030 (Tips)0.44%
Treasury (Cpi) Note 0.38% 07/15/2027 (Tips)0.43%
Treasury (Cpi) Note 0.50% 01/15/2028 (Tips)0.43%
Treasury Bond 2.50% 05/15/2046 (Tbond)0.42%
Treasury Note 2.88% 05/15/2028 (Tnote)0.42%
Treasury Bond 3.75% 11/15/2043 (Tbond)0.41%
Treasury (Cpi) Note 0.13% 01/15/2030 (Tips)0.40%
Treasury Bond 2.75% 11/15/2042 (Tbond)0.40%
Tesla Inc0.40%
Eli Lilly0.38%
Treasury (Cpi) Note 0.38% 01/15/2027 (Tips)0.37%
Treasury (Cpi) Note 0.75% 07/15/2028 (Tips)0.36%
Treasury Bond 6.13% 11/15/2027 (Tbond)0.36%
Treasury (Cpi) Note 0.25% 07/15/2029 (Tips)0.36%
Berkshire Hathaway Inc Class B0.34%
Treasury Bond 1.88% 02/15/2051 (Tbond)0.34%
Micron Technology0.34%
Treasury (Cpi) Note 0.88% 01/15/2029 (Tips)0.31%
Treasury Note 4.00% 05/31/2028 (Tnote)0.31%
JPMorgan Chase & Co0.30%
Treasury Note (Old) 4.38% 05/15/2036 (Tnote)0.28%
Treasury Note 2.38% 05/15/2029 (Tnote)0.28%
Advanced Micro Devices0.28%
Treasury Note 4.00% 05/31/2030 (Tnote)0.26%
Exxonmobil Holdings Corp0.26%
Treasury Note 4.00% 02/29/2028 (Tnote)0.25%
Treasury Note 4.00% 02/15/2034 (Tnote)0.25%
Treasury Note 3.88% 03/31/2028 (Tnote)0.25%
Treasury Note 1.25% 09/30/2028 (Tnote)0.25%
Treasury (Cpi) Note 2.25% 10/15/2031 (Tips)0.25%
Treasury Note 4.00% 02/28/2030 (Tnote)0.24%

Weight gaps

All 5 Holdings in both funds, largest gap first.

Holding weights in GDMA and IRTR, widest gap first
Holding	More in GDMAMore in IRTR	GDMA	IRTR
Microsoft CorpMSFT	GDMA +0.66 points	1.97%	1.31%
Meta Platforms IncMETA	GDMA +0.40 points	0.86%	0.46%
Alphabet IncGOOG	GDMA +0.40 points	0.85%	0.45%
Apple IncAAPL	GDMA +0.32 points	2.01%	1.69%
Amazon.com IncAMZN	GDMA +0.13 points	0.92%	0.79%

All 45 GDMA holdings⁠All IRTR holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GDMA vs IRTR Cost

Overpaying GDMA vs IRTR

$12,793

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GDMA 0.75%
$14,482
IRTR 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

GDMA 0.75%
IRTR 0.08%
Overpaying

Year by year

Year	GDMA	IRTR	Overpaying
10	$1,336	$147	$1,189
20	$5,078	$575	$4,503
30	$14,482	$1,689	$12,793

Expense ratio

0.75%GDMA
0.08%IRTR, cheaper

IRTR0.08%GDMA0.75%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.57%

IRTR 2nd cheapest of 37 funds

GDMA 23rd cheapest of 37 funds

GDMA vs IRTR Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GDMA 2.67%; IRTR 3.17%, better
Payout (12M): GDMA $1.08; IRTR $1.00
Last payment: GDMA $1.08; IRTR $0.08
Ex-dividend: GDMA Dec 30, 2025; IRTR Oct 2, 2026
Paid on: GDMA Dec 31, 2025; IRTR Oct 7, 2026
Frequency: GDMA Annual; IRTR Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GDMAAnnual · 4 paymentsAll GDMA payments⁠

IRTRMonthly · 35 paymentsAll IRTR payments⁠

GDMA vs IRTR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GDMA 10.0%IRTR 7.3%, better
Return per unit of riskSharpe ratio, 3 years: GDMA 0.82IRTR 1.14, better
Worst fallMax drawdown, 5 years: GDMA −12.8%IRTR −6.3%since Oct 2023
Market sensitivityBeta, 5 years: GDMA 0.51IRTR 0.47; Market = 1

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