GDX vs. SOBO.TO
GDX (VanEck Gold Miners ETF) is Gold fund tracking the NYSE MarketVector Global Gold Miners Index, while SOBO.TO (South Bow Corp) is a stock. Over the past year, GDX returned 48.02% vs 51.18% for SOBO.TO. At a 0.00 correlation, their price movements are largely independent.
Performance
GDX vs. SOBO.TO - Performance Comparison
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Different Trading Currencies
GDX is traded in USD, while SOBO.TO is traded in CAD. To make them comparable, the SOBO.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GDX achieves a -6.69% return, which is significantly lower than SOBO.TO's 40.47% return.
GDX
- 1D
- 2.97%
- 1M
- -8.38%
- YTD
- -6.69%
- 6M
- -5.89%
- 1Y
- 48.02%
- 3Y*
- 38.96%
- 5Y*
- 17.51%
- 10Y*
- 13.29%
SOBO.TO
- 1D
- 1.07%
- 1M
- 2.17%
- YTD
- 40.47%
- 6M
- 44.56%
- 1Y
- 51.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GDX vs. SOBO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDX VanEck Gold Miners ETF | -6.69% | 154.77% | -17.15% |
SOBO.TO South Bow Corp | 40.47% | 25.61% | 15.72% |
Correlation
The correlation between GDX and SOBO.TO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | 0.00 |
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Return for Risk
GDX vs. SOBO.TO — Risk / Return Rank
GDX
SOBO.TO
GDX vs. SOBO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners ETF (GDX) and South Bow Corp (SOBO.TO). 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.
| GDX | SOBO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.41 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 4.00 | -2.60 |
| Martin ratioReturn relative to average drawdown | 3.87 | 11.44 | -7.57 |
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Drawdowns
GDX vs. SOBO.TO - Drawdown Comparison
The maximum GDX drawdown since its inception was -80.34%, which is greater than SOBO.TO's maximum drawdown of -27.09%. Use the drawdown chart below to compare losses from any high point for GDX and SOBO.TO.
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Drawdown Indicators
| GDX | SOBO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.34% | -27.09% | -53.25% |
Max Drawdown (1Y)Largest decline over 1 year | -36.28% | -12.68% | -23.60% |
Max Drawdown (3Y)Largest decline over 3 years | -36.28% | — | — |
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 | -30.91% | -0.27% | -30.64% |
Average DrawdownAverage peak-to-trough decline | -40.41% | -4.27% | -36.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.11% | 4.44% | +8.67% |
Volatility
GDX vs. SOBO.TO - Volatility Comparison
VanEck Gold Miners ETF (GDX) has a higher volatility of 17.20% compared to South Bow Corp (SOBO.TO) at 7.11%. This indicates that GDX's price experiences larger fluctuations and is considered to be riskier than SOBO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDX | SOBO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.20% | 7.11% | +10.09% |
Volatility (6M)Calculated over the trailing 6-month period | 39.15% | 14.83% | +24.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.89% | 20.22% | +26.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.74% | 44.59% | -7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.34% | 44.59% | -7.25% |
Dividends
GDX vs. SOBO.TO - Dividend Comparison
GDX's dividend yield for the trailing twelve months is around 0.79%, less than SOBO.TO's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SOBO.TO South Bow Corp | 5.18% | 7.37% | 2.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDX and SOBO.TO 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.
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