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VanEck Vectors Steel ETF (SLX) Sharpe Ratio: 3.41

ETF · Currency in USD · Last updated Jun 3, 2026

SLX is a passive ETF by VanEck tracking the investment results of the NYSE Arca Steel Index. SLX launched on Oct 16, 2006 and has a 0.56% expense ratio.

SLX's Sharpe Ratio of 3.41 indicates that for each unit of volatility, it generates 3.41 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

SLX Sharpe Ratio Rank

SLX Sharpe Ratio Rank: 92.592
Exceptional

SLX ranks above 92.5% of all investments in our database based on Sharpe Ratio over the past 12 months, demonstrating exceptional risk-adjusted returns. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Suitable as a core holding given strong risk-adjusted returns
  • Monitor rank changes to detect deteriorating return-to-volatility profile
  • Exceptional Sharpe ratio supports larger position sizes
  • Compare with category peers to assess whether strength is investment-specific or category-wide

SLX Sharpe Ratio Market Positioning

The chart shows SLX's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.90 or lower
  • Yellow zone (middle 50%): 0.90 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 7.87+
  • Median: 1.75 — half of all investments score higher

How it compares to other similar ETFs

The table compares VanEck Vectors Steel ETF's Sharpe Ratio with other ETFs in the Materials category across multiple time periods, showing how SLX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
REMXVanEck Vectors Rare Earth/Strategic Metals ETF3.96
SLXVanEck Vectors Steel ETF3.41
XMESPDR S&P Metals & Mining ETF3.35
PICKiShares MSCI Global Select Metals & Mining Producers ETF3.32
EARTGlobal X Rare Earth & Critical Materials ETF3.29
COPXGlobal X Copper Miners ETF3.17
PSCMInvesco S&P SmallCap Materials ETF2.84
FXZFirst Trust Materials AlphaDEX Fund2.58
IYMiShares U.S. Basic Materials ETF2.15
PYZInvesco DWA Basic Materials Momentum ETF1.99

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows SLX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when SLX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does SLX fit in your portfolio?

Add your other holdings to see your portfolio's Sharpe Ratio and find out.

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