GDXJ vs. GLDY
GDXJ (VanEck Junior Gold Miners ETF) and GLDY (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while GLDY is a Derivative Income fund actively managed by Defiance. GDXJ is passively managed, while GLDY is actively managed. Over the past year, GDXJ returned 65.36% vs 13.41% for GLDY. A 0.71 correlation means they provide meaningful diversification when combined. GDXJ charges 0.52%/yr vs 0.99%/yr for GLDY.
Performance
GDXJ vs. GLDY - Performance Comparison
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Returns By Period
In the year-to-date period, GDXJ achieves a -1.65% return, which is significantly higher than GLDY's -1.92% return.
GDXJ
- 1D
- 0.92%
- 1M
- -1.11%
- YTD
- -1.65%
- 6M
- 7.01%
- 1Y
- 65.36%
- 3Y*
- 46.18%
- 5Y*
- 17.68%
- 10Y*
- 12.98%
GLDY
- 1D
- 0.39%
- 1M
- -1.62%
- YTD
- -1.92%
- 6M
- -0.12%
- 1Y
- 13.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GDXJ vs. GLDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | -1.65% | 105.19% |
GLDY Defiance Gold Enhanced Options Income ETF | -1.92% | 15.40% |
Correlation
The correlation between GDXJ and GLDY is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | 0.71 |
The correlation between GDXJ and GLDY has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.
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Return for Risk
GDXJ vs. GLDY — Risk / Return Rank
GDXJ
GLDY
GDXJ vs. GLDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and Defiance Gold Enhanced Options Income ETF (GLDY). 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 | GLDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.15 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.00 | +0.99 |
| Martin ratioReturn relative to average drawdown | 4.93 | 2.37 | +2.56 |
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 | GLDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.68 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.57 | -0.51 |
Drawdowns
GDXJ vs. GLDY - Drawdown Comparison
The maximum GDXJ drawdown since its inception was -88.66%, which is greater than GLDY's maximum drawdown of -13.43%. Use the drawdown chart below to compare losses from any high point for GDXJ and GLDY.
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Drawdown Indicators
| GDXJ | GLDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.66% | -13.43% | -75.23% |
Max Drawdown (1Y)Largest decline over 1 year | -32.92% | -13.43% | -19.49% |
Max Drawdown (3Y)Largest decline over 3 years | -32.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -50.99% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.77% | — | — |
Current DrawdownCurrent decline from peak | -28.36% | -12.78% | -15.58% |
Average DrawdownAverage peak-to-trough decline | -60.50% | -3.94% | -56.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.31% | 5.67% | +7.64% |
Volatility
GDXJ vs. GLDY - Volatility Comparison
VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 16.69% compared to Defiance Gold Enhanced Options Income ETF (GLDY) at 4.53%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than GLDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXJ | GLDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.69% | 4.53% | +12.16% |
Volatility (6M)Calculated over the trailing 6-month period | 41.33% | 18.28% | +23.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.77% | 19.87% | +29.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.09% | 19.55% | +21.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.05% | 19.55% | +24.50% |
GDXJ vs. GLDY - Expense Ratio Comparison
GDXJ has a 0.52% expense ratio, which is lower than GLDY's 0.99% expense ratio.
Dividends
GDXJ vs. GLDY - Dividend Comparison
GDXJ's dividend yield for the trailing twelve months is around 2.37%, less than GLDY's 47.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GLDY Defiance Gold Enhanced Options Income ETF | 47.09% | 37.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDXJ and GLDY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXJ has higher volatility (16.69%) compared to GLDY (4.53%). In terms of maximum drawdown, GDXJ dropped -88.66% vs GLDY's -13.43%.
On 1-year performance, GDXJ leads with 65.36% vs 13.41% for GLDY. On fees, GDXJ is cheaper at 0.52% per year. On volatility, GLDY has been the lower-risk option at 4.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GDXJ has performed better with a 65.36% return vs 13.41%. 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 0.99% for GLDY.
GLDY has the higher dividend yield at 47.09%, compared with 2.37% for GDXJ.
GDXJ is categorized as Gold, while GLDY is Derivative Income. They also come from different issuers: VanEck and Defiance. Their fees differ too: 0.52% for GDXJ and 0.99% for GLDY.
GDXJ currently has the higher Sharpe Ratio (1.32 vs 0.68), 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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