Wearable device including multi-band antenna

A wearable device, comprising:

• an outer housing including a first surface facing a first direction, a second surface facing a second direction opposite to the first direction, and a side surface surrounding a space between the first surface and the second surface and including a metal frame formed thereon, the metal frame not being partitioned and having a closed loop shape;
• a display disposed in the space and being at least partially visible via the first surface of the outer housing;
• a printed circuit board (PCB) disposed between the second surface and the display and including a ground area;
• and
• a communication circuit disposed at the PCB,
• wherein the metal frame is:
• electrically connected with the communication circuit at a first point of the metal frame and a second point of the metal frame;
• selectively connected with the ground area at a second point of the metal frame via an impedance tuner including an impedance matching component;
• and
• electrically connected with the ground area at a third point of the metal frame,
• wherein a first distance between the first point and the third point is longer than a second distance between the first point and the second point, and
• wherein the impedance tuner is configured to:
• establish a first signal path directly connecting the second point and the ground area with each other if the impedance tuner is set to a first state;
• and
• establish a second signal path indirectly connecting the second point and the ground area via the impedance matching component.