FXZ vs. GDXJ

Last updated Aug 2, 2026

FXZ (First Trust Materials AlphaDEX Fund) and GDXJ (VanEck Junior Gold Miners ETF) are both exchange-traded funds - FXZ is a Materials fund tracking the StrataQuant Materials Index, while GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index. Both are passively managed. Over the past 10 years, FXZ returned 10.25%/yr vs 8.17%/yr for GDXJ. Their 0.35 correlation means their historical movements had little consistent relationship. FXZ charges 0.67%/yr vs 0.52%/yr for GDXJ.

Performance

FXZ vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Materials AlphaDEX Fund (FXZ) and VanEck Junior Gold Miners ETF (GDXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXZ achieves a 18.92% return, which is significantly higher than GDXJ's -16.16% return. Over the past 10 years, FXZ has outperformed GDXJ with an annualized return of 10.25%, while GDXJ has yielded a comparatively lower 8.17% annualized return.

FXZ

• 1D: -1.69%
• 1M: -2.68%
• 6M: 7.26%
• YTD: 18.92%
• 1Y: 38.67%
• 3Y*: 5.94%
• 5Y*: 7.59%
• 10Y*: 10.25%
• ALL TIME*: 8.86%

GDXJ

• 1D: -3.69%
• 1M: -7.31%
• 6M: -23.13%
• YTD: -16.16%
• 1Y: 50.07%
• 3Y*: 40.59%
• 5Y*: 17.64%
• 10Y*: 8.17%
• ALL TIME*: 1.58%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FXZ First Trust Materials AlphaDEX Fund	$3.44M	$3.68M	$4.56M
GDXJ VanEck Junior Gold Miners ETF	$446.17M	$451.03M	$619.88M

FXZ vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXZ First Trust Materials AlphaDEX Fund	18.92%	16.25%	-16.31%	16.27%	-0.92%	30.84%	22.52%	21.52%	-22.62%	23.72%
GDXJ VanEck Junior Gold Miners ETF	-16.16%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%

Correlation

The correlation between FXZ and GDXJ is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.47
Correlation (5Y) Shows whether the relationship held over a longer period.	0.47
Correlation (10Y) Provides a long-term view across more market conditions.	0.31
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.35

Over the past year, FXZ and GDXJ have become more correlated (0.63) than their long-term average of 0.35, meaning their price movements have been converging.

FXZ vs. GDXJ - Sectors Allocation Comparison

Sectors	FXZ	GDXJ
Basic Materials	72.3%	100.0%
Industrials	23.4%	-
Consumer Cyclical	4.3%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FXZ vs. GDXJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FXZ

FXZ Risk / Return Rank: 70
FXZ Sharpe Ratio Rank: 69
FXZ Sortino Ratio Rank: 68
FXZ Omega Ratio Rank: 62
FXZ Calmar Ratio Rank: 79
FXZ Martin Ratio Rank: 71

GDXJ

GDXJ Risk / Return Rank: 37
GDXJ Sharpe Ratio Rank: 39
GDXJ Sortino Ratio Rank: 39
GDXJ Omega Ratio Rank: 41
GDXJ Calmar Ratio Rank: 37
GDXJ Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FXZ vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Materials AlphaDEX Fund (FXZ) and VanEck Junior Gold Miners ETF (GDXJ). 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.

	FXZ	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.57	0.97	+0.60
Sortino ratio: Return per unit of downside risk	2.23	1.45	+0.78
Omega ratio: Gain probability vs. loss probability	1.27	1.19	+0.08
Calmar ratio: Return relative to maximum drawdown	2.81	1.26	+1.54
Martin ratio: Return relative to average drawdown	8.65	2.68	+5.97

FXZ vs. GDXJ - Sharpe Ratio Comparison

The current FXZ Sharpe Ratio is 1.57, which is higher than the GDXJ Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of FXZ and GDXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FXZ vs. GDXJ - Drawdown Comparison

The maximum FXZ drawdown since its inception was -65.46%, smaller than the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for FXZ and GDXJ.

Drawdown Indicators

	FXZ	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-65.46%	-88.66%	+23.20%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-41.32%	+28.57%
Max Drawdown (3Y) Largest decline over 3 years	-33.99%	-41.32%	+7.33%
Max Drawdown (5Y) Largest decline over 5 years	-33.99%	-48.79%	+14.80%
Max Drawdown (10Y) Largest decline over 10 years	-49.41%	-57.77%	+8.36%
Current Drawdown Current decline from peak	-9.42%	-38.93%	+29.51%
Average Drawdown Average peak-to-trough decline	-11.31%	-60.26%	+48.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	19.42%	-15.29%

Volatility

FXZ vs. GDXJ - Volatility Comparison

The current volatility for First Trust Materials AlphaDEX Fund (FXZ) is 6.20%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 14.90%. This indicates that FXZ experiences smaller price fluctuations and is considered to be less risky than GDXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXZ	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	14.90%	-8.70%
Volatility (6M) Calculated over the trailing 6-month period	17.54%	44.56%	-27.02%
Volatility (1Y) Calculated over the trailing 1-year period	22.84%	53.86%	-31.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.15%	42.07%	-17.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.94%	44.18%	-19.24%

FXZ vs. GDXJ - Expense Ratio Comparison

FXZ has a 0.67% expense ratio, which is higher than GDXJ's 0.52% expense ratio.

Dividends

FXZ vs. GDXJ - Dividend Comparison

FXZ's dividend yield for the trailing twelve months is around 1.42%, less than GDXJ's 2.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXZ First Trust Materials AlphaDEX Fund	1.42%	1.74%	1.81%	1.97%	1.56%	1.11%	1.51%	1.58%	1.38%	1.01%	1.19%	1.26%
GDXJ VanEck Junior Gold Miners ETF	2.78%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%

Frequently Asked Questions

Can I hold both FXZ and GDXJ in my portfolio?

FXZ and GDXJ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXZ or GDXJ?

GDXJ has higher volatility (14.90%) compared to FXZ (6.20%). In terms of maximum drawdown, FXZ dropped -65.46% vs GDXJ's -88.66%.

Which ETF is better, FXZ or GDXJ?

On 10-year performance, FXZ leads with 10.25% vs 8.17% for GDXJ. On fees, GDXJ is cheaper at 0.52% per year. On volatility, FXZ has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXZ or GDXJ?

Over the 10-year period, FXZ has performed better with a 10.25% return vs 8.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXZ or GDXJ?

GDXJ is cheaper with a 0.52% expense ratio, compared with 0.67% for FXZ.

Which ETF pays a higher dividend yield, FXZ or GDXJ?

GDXJ has the higher dividend yield at 2.78%, compared with 1.42% for FXZ.

What is the main difference between FXZ and GDXJ?

FXZ is categorized as Materials, while GDXJ is Gold. FXZ tracks StrataQuant Materials Index, while GDXJ tracks MVIS Global Junior Gold Miners Index. They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.67% for FXZ and 0.52% for GDXJ.

Which has better risk-adjusted returns?

FXZ currently has the higher Sharpe Ratio (1.57 vs 0.97), 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.