ARKK vs. GDX
ARKK (ARK Innovation ETF) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - ARKK is a Technology Equities fund actively managed by ARK, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. ARKK is actively managed, while GDX is passively managed. Over the past 10 years, ARKK returned 14.94%/yr vs 10.49%/yr for GDX. At a 0.16 correlation, their price movements are largely independent. ARKK charges 0.75%/yr vs 0.51%/yr for GDX.
Performance
ARKK vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, ARKK achieves a -2.56% return, which is significantly higher than GDX's -17.52% return. Over the past 10 years, ARKK has outperformed GDX with an annualized return of 14.94%, while GDX has yielded a comparatively lower 10.49% annualized return.
ARKK
- 1D
- -0.33%
- 1M
- -6.53%
- 6M
- -8.24%
- YTD
- -2.56%
- 1Y
- -3.45%
- 3Y*
- 16.39%
- 5Y*
- -9.13%
- 10Y*
- 14.94%
- ALL TIME*
- 12.69%
GDX
- 1D
- -0.81%
- 1M
- -14.26%
- 6M
- -27.25%
- YTD
- -17.52%
- 1Y
- 39.36%
- 3Y*
- 32.51%
- 5Y*
- 17.66%
- 10Y*
- 10.49%
- ALL TIME*
- 4.33%
ARKK vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARKK ARK Innovation ETF | -2.56% | 35.49% | 8.40% | 69.04% | -66.97% | -23.60% | 152.71% | 35.08% | 3.52% | 87.33% |
GDX VanEck Gold Miners ETF | -17.52% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between ARKK and GDX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2014 | 0.16 |
Over the past year, ARKK and GDX have become more correlated (0.41) than their long-term average of 0.16, meaning their price movements have been converging.
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Return for Risk
ARKK vs. GDX — Risk / Return Rank
ARKK
GDX
ARKK vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ARK Innovation ETF (ARKK) and VanEck Gold Miners ETF (GDX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARKK | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.17 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 1.02 | -1.13 |
| Martin ratioReturn relative to average drawdown | -0.23 | 2.36 | -2.59 |
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Drawdowns
ARKK vs. GDX - Drawdown Comparison
The maximum ARKK drawdown since its inception was -80.97%, roughly equal to the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for ARKK and GDX.
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Drawdown Indicators
| ARKK | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.97% | -80.34% | -0.63% |
Max Drawdown (1Y)Largest decline over 1 year | -31.35% | -38.93% | +7.58% |
Max Drawdown (3Y)Largest decline over 3 years | -39.56% | -38.93% | -0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -76.27% | -46.51% | -29.76% |
Max Drawdown (10Y)Largest decline over 10 years | -80.97% | -49.79% | -31.18% |
Current DrawdownCurrent decline from peak | -51.47% | -38.93% | -12.54% |
Average DrawdownAverage peak-to-trough decline | -30.31% | -40.38% | +10.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.08% | 16.71% | -1.63% |
Volatility
ARKK vs. GDX - Volatility Comparison
The current volatility for ARK Innovation ETF (ARKK) is 9.21%, while VanEck Gold Miners ETF (GDX) has a volatility of 11.17%. This indicates that ARKK experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARKK | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.21% | 11.17% | -1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 27.14% | 39.98% | -12.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.37% | 48.23% | -11.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.49% | 37.08% | +9.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.43% | 37.32% | +3.11% |
ARKK vs. GDX - Expense Ratio Comparison
ARKK has a 0.75% expense ratio, which is higher than GDX's 0.51% expense ratio.
Dividends
ARKK vs. GDX - Dividend Comparison
ARKK has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.89%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARKK ARK Innovation ETF | 0.00% | 0.00% | 0.00% | 0.70% | 0.00% | 0.55% | 1.64% | 0.38% | 3.14% | 1.32% | 0.00% | 2.27% |
GDX VanEck Gold Miners ETF | 0.89% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
Frequently Asked Questions
ARKK and GDX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (11.17%) compared to ARKK (9.21%). In terms of maximum drawdown, ARKK dropped -80.97% vs GDX's -80.34%.
On 10-year performance, ARKK leads with 14.94% vs 10.49% for GDX. On fees, GDX is cheaper at 0.51% per year. On volatility, ARKK has been the lower-risk option at 9.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ARKK has performed better with a 14.94% return vs 10.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDX is cheaper with a 0.51% expense ratio, compared with 0.75% for ARKK.
GDX has the higher dividend yield at 0.89%, compared with 0.00% for ARKK.
ARKK is categorized as Technology Equities, while GDX is Gold. They also come from different issuers: ARK and VanEck. Their fees differ too: 0.75% for ARKK and 0.51% for GDX.
GDX currently has the higher Sharpe Ratio (0.82 vs -0.10), 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.
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