GDXJ vs. HODL

Last updated Jun 4, 2026

GDXJ (VanEck Vectors Junior Gold Miners ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - GDXJ is a Materials fund tracking the MVIS Global Junior Gold Miners Index, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, GDXJ returned 65.12% vs -38.56% for HODL. At a 0.20 correlation, their price movements are largely independent. GDXJ charges 0.54%/yr vs 0.25%/yr for HODL.

Performance

GDXJ vs. HODL - Performance Comparison

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

Returns By Period

In the year-to-date period, GDXJ achieves a -2.55% return, which is significantly higher than HODL's -25.27% return.

GDXJ

• 1D: -4.40%
• 1M: -1.95%
• YTD: -2.55%
• 6M: 6.26%
• 1Y: 65.12%
• 3Y*: 46.12%
• 5Y*: 17.46%
• 10Y*: 13.07%

HODL

• 1D: -2.79%
• 1M: -18.34%
• YTD: -25.27%
• 6M: -29.73%
• 1Y: -38.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GDXJ vs. HODL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GDXJ VanEck Vectors Junior Gold Miners ETF	-2.55%	172.28%	24.79%
HODL VanEck Bitcoin Trust	-25.27%	-6.42%	99.75%

Correlation

The correlation between GDXJ and HODL is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.20

Return for Risk

GDXJ vs. HODL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GDXJ

GDXJ Risk / Return Rank: 35
GDXJ Sharpe Ratio Rank: 36
GDXJ Sortino Ratio Rank: 32
GDXJ Omega Ratio Rank: 35
GDXJ Calmar Ratio Rank: 39
GDXJ Martin Ratio Rank: 32

HODL

HODL Risk / Return Rank: 2
HODL Sharpe Ratio Rank: 2
HODL Sortino Ratio Rank: 2
HODL Omega Ratio Rank: 2
HODL Calmar Ratio Rank: 2
HODL Martin Ratio Rank: 2

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. HODL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Junior Gold Miners ETF (GDXJ) and VanEck Bitcoin Trust (HODL). 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	HODL	Difference
Sharpe ratio: Return per unit of total volatility	1.32	-0.89	+2.20
Sortino ratio: Return per unit of downside risk	1.74	-1.23	+2.97
Omega ratio: Gain probability vs. loss probability	1.24	0.86	+0.38
Calmar ratio: Return relative to maximum drawdown	1.99	-0.79	+2.77
Martin ratio: Return relative to average drawdown	4.95	-1.36	+6.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDXJ vs. HODL - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.32, which is higher than the HODL Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of GDXJ and HODL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GDXJ	HODL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	-0.89	+2.20
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	0.30	-0.24

Drawdowns

GDXJ vs. HODL - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than HODL's maximum drawdown of -49.25%. Use the drawdown chart below to compare losses from any high point for GDXJ and HODL.

Drawdown Indicators

	GDXJ	HODL	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-49.25%	-39.41%
Max Drawdown (1Y) Largest decline over 1 year	-32.92%	-49.25%	+16.33%
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 Drawdown Current decline from peak	-29.01%	-47.93%	+18.92%
Average Drawdown Average peak-to-trough decline	-60.50%	-15.97%	-44.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	28.35%	-15.16%

Volatility

GDXJ vs. HODL - Volatility Comparison

VanEck Vectors Junior Gold Miners ETF (GDXJ) has a higher volatility of 16.66% compared to VanEck Bitcoin Trust (HODL) at 9.43%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than HODL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	HODL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.66%	9.43%	+7.23%
Volatility (6M) Calculated over the trailing 6-month period	41.34%	34.37%	+6.97%
Volatility (1Y) Calculated over the trailing 1-year period	49.79%	43.51%	+6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.10%	49.88%	-8.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.06%	49.88%	-5.82%

GDXJ vs. HODL - Expense Ratio Comparison

GDXJ has a 0.54% expense ratio, which is higher than HODL's 0.25% expense ratio.

Dividends

GDXJ vs. HODL - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.39%, while HODL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Vectors Junior Gold Miners ETF	2.39%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
HODL VanEck Bitcoin 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%

Frequently Asked Questions

Can I hold both GDXJ and HODL in my portfolio?

GDXJ and HODL have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXJ or HODL?

GDXJ has higher volatility (16.66%) compared to HODL (9.43%). In terms of maximum drawdown, GDXJ dropped -88.66% vs HODL's -49.25%.

Which ETF is better, GDXJ or HODL?

On 1-year performance, GDXJ leads with 65.12% vs -38.56% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, HODL has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or HODL?

Over the 1-year period, GDXJ has performed better with a 65.12% return vs -38.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXJ or HODL?

HODL is cheaper with a 0.25% expense ratio, compared with 0.54% for GDXJ.

Which ETF pays a higher dividend yield, GDXJ or HODL?

GDXJ has the higher dividend yield at 2.39%, compared with 0.00% for HODL.

What is the main difference between GDXJ and HODL?

GDXJ is categorized as Materials, while HODL is Cryptocurrency. GDXJ tracks MVIS Global Junior Gold Miners Index, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.54% for GDXJ and 0.25% for HODL.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (1.31 vs -0.89), 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.