GDXJ vs. AG
GDXJ (VanEck Junior Gold Miners ETF) is Gold fund tracking the MVIS Global Junior Gold Miners Index, while AG (First Majestic Silver Corp.) is a stock. Over the past 10 years, GDXJ returned 8.85%/yr vs -1.12%/yr for AG. Their correlation of 0.84 means they have usually moved in the same direction.
Performance
GDXJ vs. AG - Performance Comparison
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Returns By Period
In the year-to-date period, GDXJ achieves a -13.28% return, which is significantly lower than AG's -5.65% return. Over the past 10 years, GDXJ has outperformed AG with an annualized return of 8.85%, while AG has yielded a comparatively lower -1.12% annualized return.
GDXJ
- 1D
- 3.44%
- 1M
- -4.12%
- 6M
- -20.48%
- YTD
- -13.28%
- 1Y
- 55.23%
- 3Y*
- 43.15%
- 5Y*
- 18.66%
- 10Y*
- 8.85%
- ALL TIME*
- 1.78%
AG
- 1D
- 4.46%
- 1M
- -11.90%
- 6M
- -22.95%
- YTD
- -5.65%
- 1Y
- 100.94%
- 3Y*
- 37.67%
- 5Y*
- 3.82%
- 10Y*
- -1.12%
- ALL TIME*
- 1.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $182.24M | $172.34M | $227.43M | |
| $470.71M | $441.62M | $622.38M |
GDXJ vs. AG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | -13.28% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 40.44% | -11.02% | 8.22% |
AG First Majestic Silver Corp. | -5.65% | 204.32% | -10.47% | -25.99% | -24.73% | -17.24% | 9.62% | 108.15% | -12.61% | -11.66% |
Correlation
The correlation between GDXJ and AG is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2010 | 0.84 |
The correlation between GDXJ and AG has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
GDXJ vs. AG — Risk / Return Rank
GDXJ
AG
GDXJ vs. AG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and First Majestic Silver Corp. (AG). 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 | AG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.92 | -0.57 |
| Martin ratioReturn relative to average drawdown | 2.83 | 3.75 | -0.92 |
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Drawdowns
GDXJ vs. AG - Drawdown Comparison
The maximum GDXJ drawdown since its inception was -88.66%, roughly equal to the maximum AG drawdown of -90.20%. Use the drawdown chart below to compare losses from any high point for GDXJ and AG.
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Drawdown Indicators
| GDXJ | AG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.66% | -90.20% | +1.54% |
Max Drawdown (1Y)Largest decline over 1 year | -41.32% | -53.00% | +11.68% |
Max Drawdown (3Y)Largest decline over 3 years | -41.32% | -53.00% | +11.68% |
Max Drawdown (5Y)Largest decline over 5 years | -48.79% | -70.28% | +21.49% |
Max Drawdown (10Y)Largest decline over 10 years | -57.77% | -80.82% | +23.05% |
Current DrawdownCurrent decline from peak | -36.83% | -50.91% | +14.08% |
Average DrawdownAverage peak-to-trough decline | -60.25% | -59.08% | -1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.56% | 26.98% | -7.42% |
Volatility
GDXJ vs. AG - Volatility Comparison
The current volatility for VanEck Junior Gold Miners ETF (GDXJ) is 14.46%, while First Majestic Silver Corp. (AG) has a volatility of 17.99%. This indicates that GDXJ experiences smaller price fluctuations and is considered to be less risky than AG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXJ | AG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.46% | 17.99% | -3.53% |
Volatility (6M)Calculated over the trailing 6-month period | 42.31% | 54.44% | -12.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.05% | 75.18% | -21.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.11% | 62.22% | -20.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.20% | 61.91% | -17.71% |
Dividends
GDXJ vs. AG - Dividend Comparison
GDXJ's dividend yield for the trailing twelve months is around 2.69%, more than AG's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AG First Majestic Silver Corp. | 0.23% | 0.12% | 0.33% | 0.34% | 0.31% | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GDXJ VanEck Junior Gold Miners ETF | 2.69% | 2.33% | 2.61% | 0.72% | 0.51% | 1.78% | 1.58% | 0.39% | 0.45% | 0.03% | 4.78% | 0.72% |
Frequently Asked Questions
GDXJ and AG have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AG has higher volatility (17.99%) compared to GDXJ (14.46%). In terms of maximum drawdown, GDXJ dropped -88.66% vs AG's -90.20%.
AG currently has the higher Sharpe Ratio (1.35 vs 1.03), 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.
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