^DJUSST vs. SLX

Last updated Jun 4, 2026

^DJUSST (Dow Jones U.S. Iron & Steel Index) is an index, while SLX (VanEck Vectors Steel ETF) is Materials fund tracking the NYSE Arca Steel Index. Over the past 10 years, ^DJUSST returned 17.68%/yr vs 19.73%/yr for SLX. Their correlation of 0.87 suggests significant overlap in exposure.

Performance

^DJUSST vs. SLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dow Jones U.S. Iron & Steel Index (^DJUSST) and VanEck Vectors Steel ETF (SLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^DJUSST achieves a 47.25% return, which is significantly higher than SLX's 32.29% return. Over the past 10 years, ^DJUSST has underperformed SLX with an annualized return of 17.68%, while SLX has yielded a comparatively higher 19.73% annualized return.

^DJUSST

• 1D: 0.09%
• 1M: 15.96%
• YTD: 47.25%
• 6M: 47.12%
• 1Y: 84.45%
• 3Y*: 26.66%
• 5Y*: 19.91%
• 10Y*: 17.68%

SLX

• 1D: -1.15%
• 1M: 9.68%
• YTD: 32.29%
• 6M: 36.55%
• 1Y: 77.34%
• 3Y*: 26.67%
• 5Y*: 16.14%
• 10Y*: 19.73%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^DJUSST vs. SLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^DJUSST Dow Jones U.S. Iron & Steel Index	47.25%	41.01%	-23.32%	32.54%	17.42%	80.64%	-7.86%	15.40%	-24.56%	11.22%
SLX VanEck Vectors Steel ETF	32.29%	47.45%	-17.94%	31.25%	14.28%	27.69%	20.57%	12.01%	-19.27%	24.59%

Correlation

The correlation between ^DJUSST and SLX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Oct 18, 2006	0.87

The correlation between ^DJUSST and SLX has been stable across timeframes, ranging from 0.77 to 0.87 - a consistent structural relationship.

Return for Risk

^DJUSST vs. SLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^DJUSST

^DJUSST Risk / Return Rank: 89
^DJUSST Sharpe Ratio Rank: 93
^DJUSST Sortino Ratio Rank: 91
^DJUSST Omega Ratio Rank: 88
^DJUSST Calmar Ratio Rank: 89
^DJUSST Martin Ratio Rank: 82

SLX

SLX Risk / Return Rank: 86
SLX Sharpe Ratio Rank: 91
SLX Sortino Ratio Rank: 88
SLX Omega Ratio Rank: 84
SLX Calmar Ratio Rank: 85
SLX Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^DJUSST vs. SLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dow Jones U.S. Iron & Steel Index (^DJUSST) and VanEck Vectors Steel ETF (SLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^DJUSST	SLX	Difference
Sharpe ratio Return per unit of total volatility	3.06	3.25	-0.20
Sortino ratio Return per unit of downside risk	3.75	4.05	-0.30
Omega ratio Gain probability vs. loss probability	1.46	1.52	-0.05
Calmar ratio Return relative to maximum drawdown	4.01	4.76	-0.75
Martin ratio Return relative to average drawdown	13.19	16.63	-3.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^DJUSST vs. SLX - Sharpe Ratio Comparison

The current ^DJUSST Sharpe Ratio is 3.06, which is comparable to the SLX Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of ^DJUSST and SLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^DJUSST	SLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	3.25	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.59	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.64	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.22	+0.03

Drawdowns

^DJUSST vs. SLX - Drawdown Comparison

The maximum ^DJUSST drawdown since its inception was -81.48%, roughly equal to the maximum SLX drawdown of -82.14%. Use the drawdown chart below to compare losses from any high point for ^DJUSST and SLX.

Drawdown Indicators

	^DJUSST	SLX	Difference
Max Drawdown Largest peak-to-trough decline	-81.48%	-82.14%	+0.66%
Max Drawdown (1Y) Largest decline over 1 year	-21.17%	-16.35%	-4.82%
Max Drawdown (3Y) Largest decline over 3 years	-38.57%	-27.39%	-11.18%
Max Drawdown (5Y) Largest decline over 5 years	-38.57%	-33.62%	-4.95%
Max Drawdown (10Y) Largest decline over 10 years	-61.00%	-61.64%	+0.64%
Current Drawdown Current decline from peak	0.00%	-1.15%	+1.15%
Average Drawdown Average peak-to-trough decline	-37.13%	-38.73%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.43%	4.67%	+1.76%

Volatility

^DJUSST vs. SLX - Volatility Comparison

Dow Jones U.S. Iron & Steel Index (^DJUSST) has a higher volatility of 8.55% compared to VanEck Vectors Steel ETF (SLX) at 7.87%. This indicates that ^DJUSST's price experiences larger fluctuations and is considered to be riskier than SLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^DJUSST	SLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.55%	7.87%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	20.18%	17.92%	+2.26%
Volatility (1Y) Calculated over the trailing 1-year period	27.81%	23.92%	+3.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.64%	27.72%	+5.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.11%	31.02%	+3.09%

Frequently Asked Questions

Can I hold both ^DJUSST and SLX in my portfolio?

^DJUSST and SLX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^DJUSST or SLX?

^DJUSST has higher volatility (8.55%) compared to SLX (7.87%). In terms of maximum drawdown, ^DJUSST dropped -81.48% vs SLX's -82.14%.

Which has better risk-adjusted returns?

SLX currently has the higher Sharpe Ratio (3.25 vs 3.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.