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GDXJ vs. EPU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GDXJ vs. EPU

Last updated Jun 16, 2026

GDXJ (VanEck Junior Gold Miners ETF) and EPU (iShares MSCI Peru ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index. Both are passively managed. Over the past 10 years, GDXJ returned 12.49%/yr vs 15.10%/yr for EPU. A 0.54 correlation means they provide meaningful diversification when combined. GDXJ charges 0.52%/yr vs 0.59%/yr for EPU.

Performance

GDXJ vs. EPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) and iShares MSCI Peru ETF (EPU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GDXJ achieves a -1.67% return, which is significantly lower than EPU's 22.98% return. Over the past 10 years, GDXJ has underperformed EPU with an annualized return of 12.49%, while EPU has yielded a comparatively higher 15.10% annualized return.

GDXJ

1D
7.31%
1M
-3.86%
YTD
-1.67%
6M
1.67%
1Y
60.69%
3Y*
47.07%
5Y*
18.78%
10Y*
12.49%

EPU

1D
1.62%
1M
11.20%
YTD
22.98%
6M
29.01%
1Y
88.50%
3Y*
46.17%
5Y*
30.02%
10Y*
15.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GDXJ vs. EPU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GDXJ
VanEck Junior Gold Miners ETF		-1.67%172.28%15.67%7.12%-14.53%-21.25%30.40%40.44%-11.02%8.22%
EPU
iShares MSCI Peru ETF		22.98%86.87%21.73%25.34%2.05%-11.81%-4.31%7.30%-12.17%29.70%

Correlation

The correlation between GDXJ and EPU is 0.73, 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

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.65

Correlation (10Y)
Calculated over the trailing 10-year period

0.55

Correlation (All Time)
Calculated using the full available price history since Nov 11, 2009

0.54

The correlation between GDXJ and EPU shifts across timeframes, from 0.54 (all time) to 0.73 (1 year), reflecting how their relationship changes across market environments.

GDXJ vs. EPU - Sectors Allocation Comparison

Sectors
GDXJ
EPU

Basic Materials

100.0%
54.2%

Communication Services

-

1.5%

Consumer Cyclical

-

4.1%

Consumer Defensive

-

3.0%

Energy

-

-

Financial Services

-

27.9%

Healthcare

-

0.9%

Industrials

-

2.6%

Real Estate

-

3.0%

Technology

-

-

Utilities

-

2.8%

Basic Materials

GDXJ
100.0%
EPU
54.2%

Communication Services

GDXJ

-

EPU
1.5%

Consumer Cyclical

GDXJ

-

EPU
4.1%

Consumer Defensive

GDXJ

-

EPU
3.0%

Energy

GDXJ

-

EPU

-

Financial Services

GDXJ

-

EPU
27.9%

Healthcare

GDXJ

-

EPU
0.9%

Industrials

GDXJ

-

EPU
2.6%

Real Estate

GDXJ

-

EPU
3.0%

Technology

GDXJ

-

EPU

-

Utilities

GDXJ

-

EPU
2.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Junior Gold Miners ETF

iShares MSCI Peru ETF

Often compared with GDXJ:
GDXJ vs. GDXGDXJ vs. GLDGDXJ vs. SILJGDXJ vs. GOLDGDXJ vs. SPYGDXJ vs. GLDMGDXJ vs. IAU
Often compared with EPU:
EPU vs. ECHEPU vs. ILFEPU vs. ARGTEPU vs. EISEPU vs. EVXEPU vs. EWSEPU vs. EPI

Return for Risk

GDXJ vs. EPU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GDXJ
GDXJ Risk / Return Rank: 3434
Overall Rank
GDXJ Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
GDXJ Sortino Ratio Rank: 3333
Sortino Ratio Rank
GDXJ Omega Ratio Rank: 3737
Omega Ratio Rank
GDXJ Calmar Ratio Rank: 3434
Calmar Ratio Rank
GDXJ Martin Ratio Rank: 3232
Martin Ratio Rank
EPU
EPU Risk / Return Rank: 8282
Overall Rank
EPU Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
EPU Sortino Ratio Rank: 8181
Sortino Ratio Rank
EPU Omega Ratio Rank: 8383
Omega Ratio Rank
EPU Calmar Ratio Rank: 8585
Calmar Ratio Rank
EPU Martin Ratio Rank: 7171
Martin Ratio Rank
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. EPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and iShares MSCI Peru ETF (EPU). 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.

GDXJEPUDifference
Sharpe ratioReturn per unit of total volatility
1.17
2.87

-1.69

Sortino ratioReturn per unit of downside risk
1.62
3.25

-1.63

Omega ratioGain probability vs. loss probability

1.22

1.45

-0.22

Calmar ratioReturn relative to maximum drawdown

1.55

4.27

-2.72

Martin ratioReturn relative to average drawdown

4.21

12.29

-8.08

GDXJ vs. EPU - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.17, which is lower than the EPU Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of GDXJ and EPU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GDXJ vs. EPU - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than EPU's maximum drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for GDXJ and EPU.

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Drawdown Indicators

GDXJEPUDifference

Max Drawdown

Largest peak-to-trough decline

-88.66%

-60.62%

-28.04%

Max Drawdown (1Y)

Largest decline over 1 year

-39.47%

-20.85%

-18.62%

Max Drawdown (3Y)

Largest decline over 3 years

-39.47%

-20.85%

-18.62%

Max Drawdown (5Y)

Largest decline over 5 years

-48.79%

-35.59%

-13.20%

Max Drawdown (10Y)

Largest decline over 10 years

-57.77%

-50.97%

-6.80%

Current Drawdown

Current decline from peak

-28.37%

-5.18%

-23.19%

Average Drawdown

Average peak-to-trough decline

-60.44%

-18.81%

-41.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.52%

7.22%

+7.30%

Volatility

GDXJ vs. EPU - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 20.97% compared to iShares MSCI Peru ETF (EPU) at 13.56%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GDXJEPUDifference

Volatility (1M)

Calculated over the trailing 1-month period

20.97%

13.56%

+7.41%

Volatility (6M)

Calculated over the trailing 6-month period

43.85%

26.92%

+16.93%

Volatility (1Y)

Calculated over the trailing 1-year period

52.08%

31.12%

+20.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.64%

25.09%

+16.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

44.27%

23.64%

+20.63%

GDXJ vs. EPU - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is lower than EPU's 0.59% expense ratio.

Dividends

GDXJ vs. EPU - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.37%, less than EPU's 2.97% yield.

PositionTTM20252024202320222021202020192018201720162015
EPU
iShares MSCI Peru ETF		2.97%1.63%5.78%4.17%5.56%3.13%1.91%2.67%1.53%3.30%0.85%1.90%
GDXJ
VanEck Junior Gold Miners ETF		2.37%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 EPU have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GDXJ has higher volatility (20.97%) compared to EPU (13.56%). In terms of maximum drawdown, GDXJ dropped -88.66% vs EPU's -60.62%.

On 10-year performance, EPU leads with 15.10% vs 12.49% for GDXJ. On fees, GDXJ is cheaper at 0.52% per year. On volatility, EPU has been the lower-risk option at 13.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EPU has performed better with a 15.10% return vs 12.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GDXJ is cheaper with a 0.52% expense ratio, compared with 0.59% for EPU.

EPU has the higher dividend yield at 2.97%, compared with 2.37% for GDXJ.

GDXJ is categorized as Gold, while EPU is Mid Cap Blend Equities. GDXJ tracks MVIS Global Junior Gold Miners Index, while EPU tracks MSCI All Peru Capped Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.52% for GDXJ and 0.59% for EPU.

EPU currently has the higher Sharpe Ratio (2.87 vs 1.17), 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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