EINC vs. GDX
EINC (VanEck Energy Income ETF) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 10 years, EINC returned 11.27%/yr vs 10.74%/yr for GDX. Their 0.21 correlation means their historical movements had little consistent relationship. EINC charges 0.46%/yr vs 0.51%/yr for GDX.
Performance
EINC vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, EINC achieves a 27.20% return, which is significantly higher than GDX's -11.33% return. Both investments have delivered pretty close results over the past 10 years, with EINC having a 11.27% annualized return and GDX not far behind at 10.74%.
EINC
- 1D
- -1.08%
- 1M
- 2.56%
- 6M
- 20.49%
- YTD
- 27.20%
- 1Y
- 29.08%
- 3Y*
- 27.42%
- 5Y*
- 22.70%
- 10Y*
- 11.27%
- ALL TIME*
- 0.99%
GDX
- 1D
- 2.63%
- 1M
- -3.03%
- 6M
- -19.26%
- YTD
- -11.33%
- 1Y
- 46.05%
- 3Y*
- 38.64%
- 5Y*
- 18.57%
- 10Y*
- 10.74%
- ALL TIME*
- 4.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $731.46K | $2.80M | $2.24M | |
| $1.27B | $1.28B | $1.79B |
EINC vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EINC VanEck Energy Income ETF | 27.20% | 7.11% | 42.79% | 15.55% | 19.18% | 38.05% | -19.89% | 16.98% | -19.85% | -3.45% |
GDX VanEck Gold Miners ETF | -11.33% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between EINC and GDX is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2012 | 0.21 |
The correlation between EINC and GDX shifts across timeframes, from -0.04 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EINC vs. GDX — Risk / Return Rank
EINC
GDX
EINC vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Energy Income ETF (EINC) 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.
| EINC | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.19 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 1.19 | +2.52 |
| Martin ratioReturn relative to average drawdown | 9.02 | 2.55 | +6.47 |
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Drawdowns
EINC vs. GDX - Drawdown Comparison
The maximum EINC drawdown since its inception was -87.55%, which is greater than GDX's maximum drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for EINC and GDX.
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Drawdown Indicators
| EINC | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.55% | -80.34% | -7.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -38.93% | +31.04% |
Max Drawdown (3Y)Largest decline over 3 years | -16.01% | -38.93% | +22.92% |
Max Drawdown (5Y)Largest decline over 5 years | -19.87% | -46.51% | +26.64% |
Max Drawdown (10Y)Largest decline over 10 years | -68.85% | -49.79% | -19.06% |
Current DrawdownCurrent decline from peak | -3.57% | -34.35% | +30.78% |
Average DrawdownAverage peak-to-trough decline | -43.83% | -40.37% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 18.10% | -14.87% |
Volatility
EINC vs. GDX - Volatility Comparison
The current volatility for VanEck Energy Income ETF (EINC) is 5.70%, while VanEck Gold Miners ETF (GDX) has a volatility of 12.19%. This indicates that EINC 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
| EINC | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 12.19% | -6.49% |
Volatility (6M)Calculated over the trailing 6-month period | 12.69% | 37.71% | -25.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.47% | 48.63% | -33.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.49% | 37.26% | -17.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.33% | 37.36% | -12.03% |
EINC vs. GDX - Expense Ratio Comparison
EINC has a 0.46% expense ratio, which is lower than GDX's 0.51% expense ratio.
Dividends
EINC vs. GDX - Dividend Comparison
EINC's dividend yield for the trailing twelve months is around 4.23%, more than GDX's 0.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EINC VanEck Energy Income ETF | 4.23% | 4.51% | 3.33% | 3.77% | 2.89% | 6.03% | 6.69% | 9.66% | 11.31% | 8.53% | 9.71% | 28.53% |
GDX VanEck Gold Miners ETF | 0.83% | 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
EINC and GDX have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (12.19%) compared to EINC (5.70%). In terms of maximum drawdown, EINC dropped -87.55% vs GDX's -80.34%.
On 10-year performance, EINC leads with 11.27% vs 10.74% for GDX. On fees, EINC is cheaper at 0.46% per year. On volatility, EINC has been the lower-risk option at 5.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EINC has performed better with a 11.27% return vs 10.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EINC is cheaper with a 0.46% expense ratio, compared with 0.51% for GDX.
EINC has the higher dividend yield at 4.23%, compared with 0.83% for GDX.
EINC is categorized as Energy Equities, while GDX is Gold. EINC tracks MVIS North America Energy Infrastructure Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. Their fees differ too: 0.46% for EINC and 0.51% for GDX.
EINC currently has the higher Sharpe Ratio (1.89 vs 0.95), 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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