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GDX vs. IYH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GDX vs. IYH

Last updated Jun 13, 2026

GDX (VanEck Gold Miners ETF) and IYH (iShares U.S. Healthcare ETF) are both exchange-traded funds - GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index, while IYH is a Health & Biotech Equities fund tracking the Dow Jones U.S. Health Care Index. Both are passively managed. Over the past 10 years, GDX returned 13.29%/yr vs 9.52%/yr for IYH. At a 0.18 correlation, their price movements are largely independent. GDX charges 0.51%/yr vs 0.43%/yr for IYH.

Performance

GDX vs. IYH - Performance Comparison

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

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Returns By Period

In the year-to-date period, GDX achieves a -6.69% return, which is significantly lower than IYH's -0.65% return. Over the past 10 years, GDX has outperformed IYH with an annualized return of 13.29%, while IYH has yielded a comparatively lower 9.52% annualized return.

GDX

1D
2.97%
1M
-16.83%
YTD
-6.69%
6M
-5.89%
1Y
50.59%
3Y*
38.96%
5Y*
17.51%
10Y*
13.29%

IYH

1D
-0.20%
1M
4.45%
YTD
-0.65%
6M
0.07%
1Y
14.13%
3Y*
6.45%
5Y*
4.89%
10Y*
9.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GDX vs. IYH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GDX
VanEck Gold Miners ETF		-6.69%154.77%10.63%9.98%-9.01%-9.52%23.66%39.84%-8.77%11.99%
IYH
iShares U.S. Healthcare ETF		-0.65%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%

Correlation

The correlation between GDX and IYH is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.17

Correlation (All Time)
Calculated using the full available price history since May 22, 2006

0.18

GDX vs. IYH - Sectors Allocation Comparison

Sectors
GDX
IYH

Basic Materials

100.0%

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

100.0%

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

GDX
100.0%
IYH

-

Communication Services

GDX

-

IYH

-

Consumer Cyclical

GDX

-

IYH

-

Consumer Defensive

GDX

-

IYH

-

Energy

GDX

-

IYH

-

Financial Services

GDX

-

IYH

-

Healthcare

GDX

-

IYH
100.0%

Industrials

GDX

-

IYH

-

Real Estate

GDX

-

IYH

-

Technology

GDX

-

IYH

-

Utilities

GDX

-

IYH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Gold Miners ETF

iShares U.S. Healthcare ETF

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Often compared with IYH:
IYH vs. VHTIYH vs. XLVIYH vs. SPYIYH vs. IYEIYH vs. BMEDIYH vs. IFRAIYH vs. IBB

Return for Risk

GDX vs. IYH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GDX
GDX Risk / Return Rank: 3333
Overall Rank
GDX Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
GDX Sortino Ratio Rank: 3131
Sortino Ratio Rank
GDX Omega Ratio Rank: 3636
Omega Ratio Rank
GDX Calmar Ratio Rank: 3232
Calmar Ratio Rank
GDX Martin Ratio Rank: 3030
Martin Ratio Rank
IYH
IYH Risk / Return Rank: 2929
Overall Rank
IYH Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 3131
Sortino Ratio Rank
IYH Omega Ratio Rank: 2828
Omega Ratio Rank
IYH Calmar Ratio Rank: 3131
Calmar Ratio Rank
IYH Martin Ratio Rank: 2727
Martin Ratio Rank
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.

GDX vs. IYH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners ETF (GDX) and iShares U.S. Healthcare ETF (IYH). 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.

GDXIYHDifference
Sharpe ratioReturn per unit of total volatility
1.09
0.94

+0.15

Sortino ratioReturn per unit of downside risk
1.51
1.52

-0.01

Omega ratioGain probability vs. loss probability

1.21

1.17

+0.04

Calmar ratioReturn relative to maximum drawdown

1.40

1.33

+0.07

Martin ratioReturn relative to average drawdown

3.87

3.18

+0.69

GDX vs. IYH - Sharpe Ratio Comparison

The current GDX Sharpe Ratio is 1.09, which is comparable to the IYH Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of GDX and IYH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GDX vs. IYH - Drawdown Comparison

The maximum GDX drawdown since its inception was -80.34%, which is greater than IYH's maximum drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for GDX and IYH.

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Drawdown Indicators

GDXIYHDifference

Max Drawdown

Largest peak-to-trough decline

-80.34%

-43.12%

-37.22%

Max Drawdown (1Y)

Largest decline over 1 year

-36.28%

-10.64%

-25.64%

Max Drawdown (3Y)

Largest decline over 3 years

-36.28%

-17.91%

-18.37%

Max Drawdown (5Y)

Largest decline over 5 years

-46.51%

-17.91%

-28.60%

Max Drawdown (10Y)

Largest decline over 10 years

-49.79%

-28.40%

-21.39%

Current Drawdown

Current decline from peak

-30.91%

-3.94%

-26.97%

Average Drawdown

Average peak-to-trough decline

-40.41%

-8.96%

-31.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.11%

4.46%

+8.65%

Volatility

GDX vs. IYH - Volatility Comparison

VanEck Gold Miners ETF (GDX) has a higher volatility of 17.20% compared to iShares U.S. Healthcare ETF (IYH) at 4.94%. This indicates that GDX's price experiences larger fluctuations and is considered to be riskier than IYH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GDXIYHDifference

Volatility (1M)

Calculated over the trailing 1-month period

17.20%

4.94%

+12.26%

Volatility (6M)

Calculated over the trailing 6-month period

39.15%

10.64%

+28.51%

Volatility (1Y)

Calculated over the trailing 1-year period

46.89%

15.10%

+31.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.74%

14.96%

+21.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

37.34%

16.74%

+20.60%

GDX vs. IYH - Expense Ratio Comparison

GDX has a 0.51% expense ratio, which is higher than IYH's 0.43% expense ratio.

Dividends

GDX vs. IYH - Dividend Comparison

GDX's dividend yield for the trailing twelve months is around 0.79%, less than IYH's 1.25% yield.

PositionTTM20252024202320222021202020192018201720162015
GDX
VanEck Gold Miners ETF		0.79%0.74%1.19%1.61%1.66%1.67%0.53%0.67%0.50%0.76%0.26%0.85%
IYH
iShares U.S. Healthcare ETF		1.25%1.19%1.25%1.18%1.10%0.94%1.16%1.14%1.95%1.10%1.29%2.02%

Frequently Asked Questions

GDX and IYH have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GDX has higher volatility (17.20%) compared to IYH (4.94%). In terms of maximum drawdown, GDX dropped -80.34% vs IYH's -43.12%.

On 10-year performance, GDX leads with 13.29% vs 9.52% for IYH. On fees, IYH is cheaper at 0.43% per year. On volatility, IYH has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, GDX has performed better with a 13.29% return vs 9.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYH is cheaper with a 0.43% expense ratio, compared with 0.51% for GDX.

IYH has the higher dividend yield at 1.25%, compared with 0.79% for GDX.

GDX is categorized as Gold, while IYH is Health & Biotech Equities. GDX tracks NYSE MarketVector Global Gold Miners Index, while IYH tracks Dow Jones U.S. Health Care Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.51% for GDX and 0.43% for IYH.

GDX currently has the higher Sharpe Ratio (1.09 vs 0.94), 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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