CRAK vs. GDX
CRAK (VanEck Oil Refiners ETF) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - CRAK is a Energy Equities fund tracking the MVIS Global Oil Refiners Index, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 10 years, CRAK returned 12.77%/yr vs 12.36%/yr for GDX. At a 0.20 correlation, their price movements are largely independent. CRAK charges 0.62%/yr vs 0.51%/yr for GDX.
Performance
CRAK vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, CRAK achieves a 20.86% return, which is significantly higher than GDX's -9.46% return. Both investments have delivered pretty close results over the past 10 years, with CRAK having a 12.77% annualized return and GDX not far behind at 12.36%.
CRAK
- 1D
- -0.83%
- 1M
- -6.54%
- YTD
- 20.86%
- 6M
- 20.73%
- 1Y
- 42.08%
- 3Y*
- 19.31%
- 5Y*
- 12.08%
- 10Y*
- 12.77%
GDX
- 1D
- -4.64%
- 1M
- -8.66%
- YTD
- -9.46%
- 6M
- -13.97%
- 1Y
- 47.29%
- 3Y*
- 39.25%
- 5Y*
- 19.30%
- 10Y*
- 12.36%
CRAK vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 20.86% | 39.11% | -15.05% | 13.73% | 19.10% | 10.90% | -11.22% | 9.15% | -10.46% | 49.86% |
GDX VanEck Gold Miners ETF | -9.46% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between CRAK and GDX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.20 |
The correlation between CRAK and GDX shifts across timeframes, from 0.12 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CRAK vs. GDX — Risk / Return Rank
CRAK
GDX
CRAK vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Refiners ETF (CRAK) 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.
| CRAK | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.20 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 1.31 | +1.98 |
| Martin ratioReturn relative to average drawdown | 11.53 | 3.44 | +8.08 |
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Drawdowns
CRAK vs. GDX - Drawdown Comparison
The maximum CRAK drawdown since its inception was -58.80%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for CRAK and GDX.
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Drawdown Indicators
| CRAK | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.80% | -80.34% | +21.54% |
Max Drawdown (1Y)Largest decline over 1 year | -12.84% | -36.28% | +23.44% |
Max Drawdown (3Y)Largest decline over 3 years | -35.61% | -36.28% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -35.61% | -46.51% | +10.90% |
Max Drawdown (10Y)Largest decline over 10 years | -58.80% | -49.79% | -9.01% |
Current DrawdownCurrent decline from peak | -12.74% | -32.96% | +20.22% |
Average DrawdownAverage peak-to-trough decline | -12.47% | -40.40% | +27.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 13.78% | -10.12% |
Volatility
CRAK vs. GDX - Volatility Comparison
The current volatility for VanEck Oil Refiners ETF (CRAK) is 6.42%, while VanEck Gold Miners ETF (GDX) has a volatility of 17.61%. This indicates that CRAK 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
| CRAK | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 17.61% | -11.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.00% | 40.05% | -25.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 47.64% | -28.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 36.89% | -16.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.17% | 37.37% | -15.20% |
CRAK vs. GDX - Expense Ratio Comparison
CRAK has a 0.62% expense ratio, which is higher than GDX's 0.51% expense ratio.
Dividends
CRAK vs. GDX - Dividend Comparison
CRAK's dividend yield for the trailing twelve months is around 1.67%, more than GDX's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 1.67% | 2.02% | 5.60% | 3.65% | 3.08% | 2.40% | 2.64% | 1.49% | 2.42% | 1.66% | 3.42% | 0.47% |
GDX VanEck Gold Miners ETF | 0.82% | 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
CRAK and GDX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (17.61%) compared to CRAK (6.42%). In terms of maximum drawdown, CRAK dropped -58.80% vs GDX's -80.34%.
On 10-year performance, CRAK leads with 12.77% vs 12.36% for GDX. On fees, GDX is cheaper at 0.51% per year. On volatility, CRAK has been the lower-risk option at 6.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CRAK has performed better with a 12.77% return vs 12.36%. 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 0.62% for CRAK.
CRAK has the higher dividend yield at 1.67%, compared with 0.82% for GDX.
CRAK is categorized as Energy Equities, while GDX is Gold. CRAK tracks MVIS Global Oil Refiners Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. Their fees differ too: 0.62% for CRAK and 0.51% for GDX.
CRAK currently has the higher Sharpe Ratio (2.21 vs 1.00), 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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