GDXJ vs. ^XAU
GDXJ (VanEck Junior Gold Miners ETF) is Gold fund tracking the MVIS Global Junior Gold Miners Index, while ^XAU (PHLX Gold/Silver Sector Index) is an index. Over the past 10 years, GDXJ returned 10.61%/yr vs 12.97%/yr for ^XAU. Their correlation of 0.94 suggests significant overlap in exposure.
Performance
GDXJ vs. ^XAU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDXJ achieves a -13.96% return, which is significantly lower than ^XAU's -6.93% return. Over the past 10 years, GDXJ has underperformed ^XAU with an annualized return of 10.61%, while ^XAU has yielded a comparatively higher 12.97% annualized return.
GDXJ
- 1D
- 1.89%
- 1M
- -16.08%
- YTD
- -13.96%
- 6M
- -17.71%
- 1Y
- 49.98%
- 3Y*
- 42.73%
- 5Y*
- 17.45%
- 10Y*
- 10.61%
^XAU
- 1D
- 1.65%
- 1M
- -13.24%
- YTD
- -6.93%
- 6M
- -11.02%
- 1Y
- 56.19%
- 3Y*
- 38.67%
- 5Y*
- 17.54%
- 10Y*
- 12.97%
GDXJ vs. ^XAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | -13.96% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 40.44% | -11.02% | 8.22% |
^XAU PHLX Gold/Silver Sector Index | -6.93% | 149.51% | 9.14% | 4.00% | -8.75% | -8.14% | 34.86% | 51.32% | -17.13% | 8.13% |
Correlation
The correlation between GDXJ and ^XAU is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009 | 0.94 |
The correlation between GDXJ and ^XAU has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDXJ vs. ^XAU — Risk / Return Rank
GDXJ
^XAU
GDXJ vs. ^XAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and PHLX Gold/Silver Sector Index (^XAU). 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 | ^XAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 1.67 | -0.40 |
| Martin ratioReturn relative to average drawdown | 3.24 | 4.17 | -0.93 |
Loading charts...
Drawdowns
GDXJ vs. ^XAU - Drawdown Comparison
The maximum GDXJ drawdown since its inception was -88.66%, which is greater than ^XAU's maximum drawdown of -83.04%. Use the drawdown chart below to compare losses from any high point for GDXJ and ^XAU.
Loading charts...
Drawdown Indicators
| GDXJ | ^XAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.66% | -83.04% | -5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -39.47% | -33.81% | -5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -39.47% | -33.81% | -5.66% |
Max Drawdown (5Y)Largest decline over 5 years | -48.79% | -45.52% | -3.27% |
Max Drawdown (10Y)Largest decline over 10 years | -57.77% | -45.52% | -12.25% |
Current DrawdownCurrent decline from peak | -37.32% | -32.27% | -5.05% |
Average DrawdownAverage peak-to-trough decline | -60.39% | -39.74% | -20.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.45% | 13.50% | +1.95% |
Volatility
GDXJ vs. ^XAU - Volatility Comparison
VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 20.08% compared to PHLX Gold/Silver Sector Index (^XAU) at 16.74%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than ^XAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDXJ | ^XAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.08% | 16.74% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 44.39% | 38.81% | +5.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.60% | 46.82% | +5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.76% | 36.63% | +5.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.31% | 36.49% | +7.82% |
Frequently Asked Questions
With a correlation of 0.97, GDXJ and ^XAU 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.
GDXJ has higher volatility (20.08%) compared to ^XAU (16.74%). In terms of maximum drawdown, GDXJ dropped -88.66% vs ^XAU's -83.04%.
^XAU currently has the higher Sharpe Ratio (1.21 vs 0.95), 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.
Find the right allocation for GDXJ and ^XAU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer