GDXJ.L vs. DFNG.L
GDXJ.L (VanEck Junior Gold Miners UCITS ETF) and DFNG.L (VanEck Defense UCITS ETF) are both exchange-traded funds - GDXJ.L is a Commodity Producers Equities fund tracking the VanEck Junior Gold Miners UCITS ETF, while DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index. Both are passively managed. Over the past 3 years, GDXJ.L returned 38.40%/yr vs 35.03%/yr for DFNG.L. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
GDXJ.L vs. DFNG.L - Performance Comparison
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Different Trading Currencies
GDXJ.L is traded in USD, while DFNG.L is traded in GBP. To make them comparable, the DFNG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GDXJ.L achieves a -15.83% return, which is significantly lower than DFNG.L's -5.91% return.
GDXJ.L
- 1D
- 0.06%
- 1M
- -15.26%
- 6M
- -24.53%
- YTD
- -15.83%
- 1Y
- 45.92%
- 3Y*
- 38.40%
- 5Y*
- 17.93%
- 10Y*
- 8.54%
DFNG.L
- 1D
- 0.00%
- 1M
- -5.81%
- 6M
- -20.89%
- YTD
- -5.91%
- 1Y
- 1.84%
- 3Y*
- 35.03%
- 5Y*
- —
- 10Y*
- —
GDXJ.L vs. DFNG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GDXJ.L VanEck Junior Gold Miners UCITS ETF | -15.83% | 175.70% | 13.26% | -2.62% |
DFNG.L VanEck Defense UCITS ETF | -5.91% | 68.35% | 43.76% | 1.98% |
Correlation
The correlation between GDXJ.L and DFNG.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.27 |
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Return for Risk
GDXJ.L vs. DFNG.L — Risk / Return Rank
GDXJ.L
DFNG.L
GDXJ.L vs. DFNG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners UCITS ETF (GDXJ.L) and VanEck Defense UCITS ETF (DFNG.L). 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.
| GDXJ.L | DFNG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.03 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 0.07 | +1.05 |
| Martin ratioReturn relative to average drawdown | 2.57 | 0.18 | +2.39 |
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Drawdowns
GDXJ.L vs. DFNG.L - Drawdown Comparison
The maximum GDXJ.L drawdown since its inception was -58.17%, which is greater than DFNG.L's maximum drawdown of -25.63%. Use the drawdown chart below to compare losses from any high point for GDXJ.L and DFNG.L.
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Drawdown Indicators
| GDXJ.L | DFNG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.17% | -25.63% | -32.54% |
Max Drawdown (1Y)Largest decline over 1 year | -39.08% | -25.63% | -13.45% |
Max Drawdown (3Y)Largest decline over 3 years | -39.08% | -25.63% | -13.45% |
Max Drawdown (5Y)Largest decline over 5 years | -47.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -58.17% | — | — |
Current DrawdownCurrent decline from peak | -37.70% | -22.96% | -14.74% |
Average DrawdownAverage peak-to-trough decline | -27.07% | -5.53% | -21.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.17% | 10.15% | +7.02% |
Volatility
GDXJ.L vs. DFNG.L - Volatility Comparison
VanEck Junior Gold Miners UCITS ETF (GDXJ.L) has a higher volatility of 16.88% compared to VanEck Defense UCITS ETF (DFNG.L) at 10.03%. This indicates that GDXJ.L's price experiences larger fluctuations and is considered to be riskier than DFNG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXJ.L | DFNG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.88% | 10.03% | +6.85% |
Volatility (6M)Calculated over the trailing 6-month period | 43.73% | 20.69% | +23.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.13% | 26.66% | +26.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.00% | 24.61% | +16.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.67% | 24.61% | +16.06% |
GDXJ.L vs. DFNG.L - Expense Ratio Comparison
Both GDXJ.L and DFNG.L have an expense ratio of 0.55%.
Dividends
GDXJ.L vs. DFNG.L - Dividend Comparison
Neither GDXJ.L nor DFNG.L has paid dividends to shareholders.
Frequently Asked Questions
GDXJ.L and DFNG.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GDXJ.L and DFNG.L have the same expense ratio: 0.55% per year.
GDXJ.L is categorized as Commodity Producers Equities, while DFNG.L is Aerospace & Defense. GDXJ.L tracks VanEck Junior Gold Miners UCITS ETF, while DFNG.L tracks MarketVector Global Defense Industry index.
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