GDXJ vs. BAR
GDXJ (VanEck Junior Gold Miners ETF) and BAR (GraniteShares Gold Trust) are both Gold funds - GDXJ tracks the MVIS Global Junior Gold Miners Index while BAR tracks the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 5 years, GDXJ returned 15.20%/yr vs 17.73%/yr for BAR. A 0.76 correlation means they provide meaningful diversification when combined. GDXJ charges 0.52%/yr vs 0.17%/yr for BAR.
Performance
GDXJ vs. BAR - Performance Comparison
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Returns By Period
In the year-to-date period, GDXJ achieves a -11.59% return, which is significantly lower than BAR's 0.02% return.
GDXJ
- 1D
- -10.11%
- 1M
- -18.05%
- YTD
- -11.59%
- 6M
- -3.54%
- 1Y
- 45.51%
- 3Y*
- 40.69%
- 5Y*
- 15.20%
- 10Y*
- 11.93%
BAR
- 1D
- -3.65%
- 1M
- -7.97%
- YTD
- 0.02%
- 6M
- 2.66%
- 1Y
- 28.36%
- 3Y*
- 29.83%
- 5Y*
- 17.73%
- 10Y*
- —
GDXJ vs. BAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | -11.59% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 40.44% | -11.02% | -5.37% |
BAR GraniteShares Gold Trust | 0.02% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | -1.87% | -1.15% |
Correlation
The correlation between GDXJ and BAR is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2017 | 0.76 |
The correlation between GDXJ and BAR has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
GDXJ vs. BAR — Risk / Return Rank
GDXJ
BAR
GDXJ vs. BAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and GraniteShares Gold Trust (BAR). 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 | BAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 1.42 | -0.14 |
| Martin ratioReturn relative to average drawdown | 3.38 | 3.60 | -0.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDXJ | BAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 1.07 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.99 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.87 | -0.83 |
Drawdowns
GDXJ vs. BAR - Drawdown Comparison
The maximum GDXJ drawdown since its inception was -88.66%, which is greater than BAR's maximum drawdown of -21.53%. Use the drawdown chart below to compare losses from any high point for GDXJ and BAR.
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Drawdown Indicators
| GDXJ | BAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.66% | -21.53% | -67.13% |
Max Drawdown (1Y)Largest decline over 1 year | -35.60% | -20.05% | -15.55% |
Max Drawdown (3Y)Largest decline over 3 years | -35.60% | -20.05% | -15.55% |
Max Drawdown (5Y)Largest decline over 5 years | -50.99% | -20.91% | -30.08% |
Max Drawdown (10Y)Largest decline over 10 years | -57.77% | — | — |
Current DrawdownCurrent decline from peak | -35.60% | -20.05% | -15.55% |
Average DrawdownAverage peak-to-trough decline | -60.49% | -6.46% | -54.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.49% | 7.89% | +5.60% |
Volatility
GDXJ vs. BAR - Volatility Comparison
VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 17.56% compared to GraniteShares Gold Trust (BAR) at 5.66%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than BAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXJ | BAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.56% | 5.66% | +11.90% |
Volatility (6M)Calculated over the trailing 6-month period | 42.70% | 23.34% | +19.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.84% | 26.69% | +24.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.33% | 17.97% | +23.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.16% | 16.42% | +27.74% |
GDXJ vs. BAR - Expense Ratio Comparison
GDXJ has a 0.52% expense ratio, which is higher than BAR's 0.17% expense ratio.
Dividends
GDXJ vs. BAR - Dividend Comparison
GDXJ's dividend yield for the trailing twelve months is around 2.63%, while BAR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GDXJ VanEck Junior Gold Miners ETF | 2.63% | 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 BAR have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXJ has higher volatility (17.56%) compared to BAR (5.66%). In terms of maximum drawdown, GDXJ dropped -88.66% vs BAR's -21.53%.
On 5-year performance, BAR leads with 17.73% vs 15.20% for GDXJ. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 5.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BAR has performed better with a 17.73% return vs 15.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 0.52% for GDXJ.
GDXJ has the higher dividend yield at 2.63%, compared with 0.00% for BAR.
GDXJ tracks MVIS Global Junior Gold Miners Index, while BAR tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: VanEck and GraniteShares. Their fees differ too: 0.52% for GDXJ and 0.17% for BAR.
BAR currently has the higher Sharpe Ratio (1.07 vs 0.90), 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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