GDXJ vs. ^XAU

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Vectors Junior Gold Miners ETF (GDXJ) and Philadelphia Gold and Silver Index (^XAU).

GDXJ is a passively managed fund by VanEck that tracks the performance of the MVIS Global Junior Gold Miners Index. It was launched on Nov 10, 2009.

Performance

GDXJ vs. ^XAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Junior Gold Miners ETF (GDXJ) and Philadelphia Gold and Silver Index (^XAU). The values are adjusted to include any dividend payments, if applicable.

GDXJ vs. ^XAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDXJ VanEck Vectors Junior Gold Miners ETF	10.08%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%
^XAU Philadelphia Gold and Silver Index	13.79%	149.51%	9.14%	4.00%	-8.75%	-8.14%	34.86%	51.32%	-17.13%	8.13%

Returns By Period

In the year-to-date period, GDXJ achieves a 10.08% return, which is significantly lower than ^XAU's 13.79% return. Both investments have delivered pretty close results over the past 10 years, with GDXJ having a 17.88% annualized return and ^XAU not far ahead at 18.77%.

GDXJ

• 1D: 4.34%
• 1M: -19.21%
• YTD: 10.08%
• 6M: 28.26%
• 1Y: 125.16%
• 3Y*: 49.66%
• 5Y*: 23.75%
• 10Y*: 17.88%

^XAU

• 1D: 4.08%
• 1M: -17.00%
• YTD: 13.79%
• 6M: 29.50%
• 1Y: 119.66%
• 3Y*: 43.63%
• 5Y*: 22.72%
• 10Y*: 18.77%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

GDXJ vs. ^XAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GDXJ

GDXJ Risk / Return Rank: 92
GDXJ Sharpe Ratio Rank: 95
GDXJ Sortino Ratio Rank: 90
GDXJ Omega Ratio Rank: 89
GDXJ Calmar Ratio Rank: 94
GDXJ Martin Ratio Rank: 92

^XAU

^XAU Risk / Return Rank: 96
^XAU Sharpe Ratio Rank: 97
^XAU Sortino Ratio Rank: 97
^XAU Omega Ratio Rank: 96
^XAU Calmar Ratio Rank: 95
^XAU Martin Ratio Rank: 95

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.

GDXJ vs. ^XAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Junior Gold Miners ETF (GDXJ) and Philadelphia Gold and Silver 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.

	GDXJ	^XAU	Difference
Sharpe ratio Return per unit of total volatility	2.47	2.66	-0.18
Sortino ratio Return per unit of downside risk	2.63	2.76	-0.13
Omega ratio Gain probability vs. loss probability	1.38	1.41	-0.03
Calmar ratio Return relative to maximum drawdown	3.77	3.97	-0.20
Martin ratio Return relative to average drawdown	13.05	14.42	-1.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDXJ vs. ^XAU - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 2.47, which is comparable to the ^XAU Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of GDXJ and ^XAU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GDXJ	^XAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.66	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.64	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.51	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.08	0.00

Correlation

The correlation between GDXJ and ^XAU is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

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.

Drawdown Indicators

	GDXJ	^XAU	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-83.04%	-5.62%
Max Drawdown (1Y) Largest decline over 1 year	-32.92%	-30.21%	-2.71%
Max Drawdown (5Y) Largest decline over 5 years	-51.76%	-45.52%	-6.24%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-45.52%	-12.25%
Current Drawdown Current decline from peak	-19.81%	-17.20%	-2.61%
Average Drawdown Average peak-to-trough decline	-60.90%	-39.84%	-21.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.51%	8.31%	+1.20%

Volatility

GDXJ vs. ^XAU - Volatility Comparison

VanEck Vectors Junior Gold Miners ETF (GDXJ) has a higher volatility of 19.46% compared to Philadelphia Gold and Silver Index (^XAU) at 16.56%. 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.

Volatility by Period

	GDXJ	^XAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.46%	16.56%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	42.52%	37.63%	+4.89%
Volatility (1Y) Calculated over the trailing 1-year period	50.91%	45.31%	+5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.57%	35.68%	+4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.46%	36.62%	+7.84%