GDXJ vs. GDX
GDXJ (VanEck Junior Gold Miners ETF) and GDX (VanEck Gold Miners ETF) are both Gold funds from VanEck - GDXJ tracks the MVIS Global Junior Gold Miners Index while GDX tracks the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 10 years, GDXJ returned 11.90%/yr vs 13.50%/yr for GDX. With a 0.95 correlation, they move nearly in lockstep. GDXJ charges 0.52%/yr vs 0.51%/yr for GDX.
Performance
GDXJ vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, GDXJ achieves a -5.77% return, which is significantly lower than GDX's -3.80% return. Over the past 10 years, GDXJ has underperformed GDX with an annualized return of 11.90%, while GDX has yielded a comparatively higher 13.50% annualized return.
GDXJ
- 1D
- -2.34%
- 1M
- -5.42%
- YTD
- -5.77%
- 6M
- -6.75%
- 1Y
- 59.34%
- 3Y*
- 45.00%
- 5Y*
- 19.45%
- 10Y*
- 11.90%
GDX
- 1D
- -2.19%
- 1M
- -4.46%
- YTD
- -3.80%
- 6M
- -5.33%
- 1Y
- 56.81%
- 3Y*
- 39.64%
- 5Y*
- 20.97%
- 10Y*
- 13.50%
GDXJ vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | -5.77% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 40.44% | -11.02% | 8.22% |
GDX VanEck Gold Miners ETF | -3.80% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between GDXJ and GDX is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009 | 0.95 |
The correlation between GDXJ and GDX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
GDXJ vs. GDX — Risk / Return Rank
GDXJ
GDX
GDXJ vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and VanEck Gold Miners ETF (GDX). 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 | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.57 | -0.06 |
| Martin ratioReturn relative to average drawdown | 4.03 | 4.22 | -0.20 |
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Drawdowns
GDXJ vs. GDX - Drawdown Comparison
The maximum GDXJ drawdown since its inception was -88.66%, which is greater than GDX's maximum drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for GDXJ and GDX.
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Drawdown Indicators
| GDXJ | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.66% | -80.34% | -8.32% |
Max Drawdown (1Y)Largest decline over 1 year | -39.47% | -36.28% | -3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -39.47% | -36.28% | -3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -48.79% | -46.51% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -57.77% | -49.79% | -7.98% |
Current DrawdownCurrent decline from peak | -31.35% | -28.77% | -2.58% |
Average DrawdownAverage peak-to-trough decline | -60.42% | -40.40% | -20.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.78% | 13.49% | +1.29% |
Volatility
GDXJ vs. GDX - Volatility Comparison
VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 19.77% compared to VanEck Gold Miners ETF (GDX) at 17.31%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXJ | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 17.31% | +2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 44.13% | 39.77% | +4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.20% | 47.41% | +4.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.63% | 36.82% | +4.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.29% | 37.38% | +6.91% |
GDXJ vs. GDX - Expense Ratio Comparison
GDXJ has a 0.52% expense ratio, which is higher than GDX's 0.51% expense ratio.
Dividends
GDXJ vs. GDX - Dividend Comparison
GDXJ's dividend yield for the trailing twelve months is around 2.47%, more than GDX's 0.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 0.77% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
GDXJ VanEck Junior Gold Miners ETF | 2.47% | 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
With a correlation of 0.98, GDXJ and GDX 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 (19.77%) compared to GDX (17.31%). In terms of maximum drawdown, GDXJ dropped -88.66% vs GDX's -80.34%.
On 10-year performance, GDX leads with 13.50% vs 11.90% for GDXJ. On fees, GDX is cheaper at 0.51% per year. On volatility, GDX has been the lower-risk option at 17.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GDX has performed better with a 13.50% return vs 11.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDX is cheaper with a 0.51% expense ratio, compared with 0.52% for GDXJ.
GDXJ has the higher dividend yield at 2.47%, compared with 0.77% for GDX.
GDXJ tracks MVIS Global Junior Gold Miners Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. Their fees differ too: 0.52% for GDXJ and 0.51% for GDX.
GDX currently has the higher Sharpe Ratio (1.20 vs 1.14), 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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