ETHV vs. GDX
Compare and contrast key facts about VanEck Ethereum ETF (ETHV) and VanEck Gold Miners ETF (GDX).
ETHV and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETHV is a passively managed fund by VanEck that tracks the performance of the MarketVector Ethereum Benchmark Rate. It was launched on Jun 25, 2024. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE MarketVector Global Gold Miners Index. It was launched on May 16, 2006. Both ETHV and GDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ETHV vs. GDX - Performance Comparison
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ETHV vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHV VanEck Ethereum ETF | -29.44% | -11.02% | -3.67% |
GDX VanEck Gold Miners ETF | 7.00% | 154.77% | -8.39% |
Returns By Period
In the year-to-date period, ETHV achieves a -29.44% return, which is significantly lower than GDX's 7.00% return.
ETHV
- 1D
- 3.62%
- 1M
- 9.00%
- YTD
- -29.44%
- 6M
- -49.70%
- 1Y
- 14.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GDX
- 1D
- 6.97%
- 1M
- -20.78%
- YTD
- 7.00%
- 6M
- 20.99%
- 1Y
- 101.08%
- 3Y*
- 43.23%
- 5Y*
- 23.96%
- 10Y*
- 17.53%
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ETHV vs. GDX - Expense Ratio Comparison
ETHV has a 0.20% expense ratio, which is lower than GDX's 0.51% expense ratio.
Return for Risk
ETHV vs. GDX — Risk / Return Rank
ETHV
GDX
ETHV vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Ethereum ETF (ETHV) 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.
| ETHV | GDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.19 | 2.21 | -2.02 |
Sortino ratioReturn per unit of downside risk | 0.85 | 2.45 | -1.60 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.36 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 0.19 | 3.34 | -3.14 |
Martin ratioReturn relative to average drawdown | 0.39 | 12.07 | -11.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETHV | GDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | 2.21 | -2.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | 0.14 | -0.48 |
Correlation
The correlation between ETHV and GDX is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ETHV vs. GDX - Dividend Comparison
ETHV has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.69%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHV VanEck Ethereum ETF | 0.00% | 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 | 0.69% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
Drawdowns
ETHV vs. GDX - Drawdown Comparison
The maximum ETHV drawdown since its inception was -64.02%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for ETHV and GDX.
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Drawdown Indicators
| ETHV | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.02% | -80.34% | +16.32% |
Max Drawdown (1Y)Largest decline over 1 year | -61.66% | -30.84% | -30.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.79% | — |
Current DrawdownCurrent decline from peak | -56.75% | -20.78% | -35.97% |
Average DrawdownAverage peak-to-trough decline | -30.39% | -40.61% | +10.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.40% | 8.52% | +21.88% |
Volatility
ETHV vs. GDX - Volatility Comparison
VanEck Ethereum ETF (ETHV) and VanEck Gold Miners ETF (GDX) have volatilities of 19.28% and 18.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHV | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.28% | 18.51% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 53.50% | 38.19% | +15.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.80% | 46.00% | +29.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.88% | 35.73% | +39.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.88% | 37.44% | +37.44% |