AUAU vs. GDX

Last updated Jul 17, 2026

AUAU (Global X Gold Miners ETF) and GDX (VanEck Gold Miners ETF) are both Gold funds - AUAU tracks the NYSE Arca Gold Miners Index while GDX tracks the NYSE MarketVector Global Gold Miners Index. Both are passively managed. With a 0.99 correlation, they move nearly in lockstep. AUAU charges 0.35%/yr vs 0.51%/yr for GDX.

Performance

AUAU vs. GDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Gold Miners ETF (AUAU) and VanEck Gold Miners ETF (GDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUAU achieves a -15.85% return, which is significantly higher than GDX's -16.75% return.

AUAU

• 1D: -3.66%
• 1M: -17.98%
• 6M: -25.47%
• YTD: -15.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDX

• 1D: -3.51%
• 1M: -18.16%
• 6M: -26.48%
• YTD: -16.75%
• 1Y: 38.79%
• 3Y*: 32.25%
• 5Y*: 17.67%
• 10Y*: 10.14%

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

AUAU vs. GDX - Yearly Performance Comparison

	2026 (YTD)	2025
AUAU Global X Gold Miners ETF	-15.85%	4.18%
GDX VanEck Gold Miners ETF	-16.75%	5.43%

Correlation

The correlation between AUAU and GDX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.99

Return for Risk

AUAU vs. GDX — Risk / Return Rank

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

AUAU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GDX

GDX Risk / Return Rank: 26
GDX Sharpe Ratio Rank: 27
GDX Sortino Ratio Rank: 27
GDX Omega Ratio Rank: 29
GDX Calmar Ratio Rank: 25
GDX Martin Ratio Rank: 23

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.

AUAU vs. GDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Miners ETF (AUAU) 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.

	AUAU	GDX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.81	—
Sortino ratio: Return per unit of downside risk	—	1.26	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	1.02	—
Martin ratio: Return relative to average drawdown	—	2.38	—

Drawdowns

AUAU vs. GDX - Drawdown Comparison

The maximum AUAU drawdown since its inception was -37.84%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for AUAU and GDX.

Drawdown Indicators

	AUAU	GDX	Difference
Max Drawdown Largest peak-to-trough decline	-37.84%	-80.34%	+42.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-38.36%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-38.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.79%	—
Current Drawdown Current decline from peak	-37.84%	-38.36%	+0.52%
Average Drawdown Average peak-to-trough decline	-16.39%	-40.38%	+23.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.35%	—

Volatility

Volatility by Period

	AUAU	GDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	39.98%	—
Volatility (1Y) Calculated over the trailing 1-year period	51.04%	48.15%	+2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.04%	37.09%	+13.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.04%	37.37%	+13.67%

AUAU vs. GDX - Expense Ratio Comparison

AUAU has a 0.35% expense ratio, which is lower than GDX's 0.51% expense ratio.

Dividends

AUAU vs. GDX - Dividend Comparison

AUAU's dividend yield for the trailing twelve months is around 0.74%, less than GDX's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUAU Global X Gold Miners ETF	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both AUAU and GDX in my portfolio?

With a correlation of 0.99, AUAU and GDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, AUAU or GDX?

On fees, AUAU is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AUAU or GDX?

AUAU is cheaper with a 0.35% expense ratio, compared with 0.51% for GDX.

Which ETF pays a higher dividend yield, AUAU or GDX?

GDX has the higher dividend yield at 0.89%, compared with 0.74% for AUAU.

What is the main difference between AUAU and GDX?

AUAU tracks NYSE Arca Gold Miners Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.35% for AUAU and 0.51% for GDX.