GDXJ.L vs. GDGB.L
GDXJ.L (VanEck Junior Gold Miners UCITS ETF) and GDGB.L (VanEck Gold Miners UCITS ETF) are both exchange-traded funds - GDXJ.L is a Commodity Producers Equities fund tracking the VanEck Junior Gold Miners UCITS ETF, while GDGB.L is a Gold fund tracking the MarketVector Global Gold Miners Index. Both are passively managed. Over the past 5 years, GDXJ.L returned 17.93%/yr vs 18.15%/yr for GDGB.L. Their correlation of 0.93 suggests significant overlap in exposure. GDXJ.L charges 0.55%/yr vs 0.53%/yr for GDGB.L.
Performance
GDXJ.L vs. GDGB.L - Performance Comparison
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Different Trading Currencies
GDXJ.L is traded in USD, while GDGB.L is traded in GBP. To make them comparable, the GDGB.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 GDGB.L's -14.19% 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%
GDGB.L
- 1D
- -2.45%
- 1M
- -14.23%
- 6M
- -24.03%
- YTD
- -14.19%
- 1Y
- 45.41%
- 3Y*
- 33.09%
- 5Y*
- 18.15%
- 10Y*
- —
GDXJ.L vs. GDGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXJ.L VanEck Junior Gold Miners UCITS ETF | -15.83% | 175.70% | 13.26% | 7.29% | -13.07% | -23.07% | 30.24% | 44.17% | -12.91% | 0.88% |
GDGB.L VanEck Gold Miners UCITS ETF | -14.19% | 156.24% | 9.38% | 9.16% | -7.97% | -11.28% | 23.23% | 44.43% | -10.42% | 1.81% |
Correlation
The correlation between GDXJ.L and GDGB.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017 | 0.93 |
The correlation between GDXJ.L and GDGB.L has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
GDXJ.L vs. GDGB.L — Risk / Return Rank
GDXJ.L
GDGB.L
GDXJ.L vs. GDGB.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 Gold Miners UCITS ETF (GDGB.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 | GDGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.18 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 1.21 | -0.08 |
| Martin ratioReturn relative to average drawdown | 2.57 | 2.83 | -0.26 |
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Drawdowns
GDXJ.L vs. GDGB.L - Drawdown Comparison
The maximum GDXJ.L drawdown since its inception was -58.17%, which is greater than GDGB.L's maximum drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for GDXJ.L and GDGB.L.
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Drawdown Indicators
| GDXJ.L | GDGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.17% | -50.68% | -7.49% |
Max Drawdown (1Y)Largest decline over 1 year | -39.08% | -37.37% | -1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -39.08% | -37.37% | -1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -47.48% | -46.27% | -1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -58.17% | — | — |
Current DrawdownCurrent decline from peak | -37.70% | -36.11% | -1.59% |
Average DrawdownAverage peak-to-trough decline | -27.07% | -17.96% | -9.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.17% | 16.01% | +1.16% |
Volatility
GDXJ.L vs. GDGB.L - Volatility Comparison
VanEck Junior Gold Miners UCITS ETF (GDXJ.L) has a higher volatility of 16.88% compared to VanEck Gold Miners UCITS ETF (GDGB.L) at 14.74%. This indicates that GDXJ.L's price experiences larger fluctuations and is considered to be riskier than GDGB.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 | GDGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.88% | 14.74% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 43.73% | 37.71% | +6.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.13% | 46.97% | +6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.00% | 36.34% | +4.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.67% | 34.56% | +6.11% |
GDXJ.L vs. GDGB.L - Expense Ratio Comparison
GDXJ.L has a 0.55% expense ratio, which is higher than GDGB.L's 0.53% expense ratio.
Dividends
GDXJ.L vs. GDGB.L - Dividend Comparison
Neither GDXJ.L nor GDGB.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, GDXJ.L and GDGB.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GDGB.L is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GDGB.L is cheaper with a 0.53% expense ratio, compared with 0.55% for GDXJ.L.
GDXJ.L is categorized as Commodity Producers Equities, while GDGB.L is Gold. GDXJ.L tracks VanEck Junior Gold Miners UCITS ETF, while GDGB.L tracks MarketVector Global Gold Miners Index. Their fees differ too: 0.55% for GDXJ.L and 0.53% for GDGB.L.
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