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GDXJ vs. INDA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GDXJ vs. INDA

Last updated Jun 9, 2026

GDXJ (VanEck Junior Gold Miners ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, GDXJ returned 11.53%/yr vs 6.73%/yr for INDA. At a 0.22 correlation, their price movements are largely independent. GDXJ charges 0.52%/yr vs 0.69%/yr for INDA.

Performance

GDXJ vs. INDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) and iShares MSCI India ETF (INDA). 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 -10.70% return, which is significantly higher than INDA's -12.65% return. Over the past 10 years, GDXJ has outperformed INDA with an annualized return of 11.53%, while INDA has yielded a comparatively lower 6.73% annualized return.

GDXJ

1D
1.01%
1M
-19.25%
YTD
-10.70%
6M
-0.52%
1Y
50.65%
3Y*
42.13%
5Y*
15.86%
10Y*
11.53%

INDA

1D
-0.27%
1M
-5.28%
YTD
-12.65%
6M
-11.06%
1Y
-14.02%
3Y*
4.13%
5Y*
2.36%
10Y*
6.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GDXJ vs. INDA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GDXJ
VanEck Junior Gold Miners ETF		-10.70%172.28%15.67%7.12%-14.53%-21.25%30.40%40.44%-11.02%8.22%
INDA
iShares MSCI India ETF		-12.65%2.68%8.63%17.16%-8.94%21.36%14.83%6.49%-6.67%36.08%

Correlation

The correlation between GDXJ and INDA is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

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

0.29

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

0.31

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

0.24

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2012

0.22

GDXJ vs. INDA - Sectors Allocation Comparison

Sectors
GDXJ
INDA

Basic Materials

100.0%
8.0%

Communication Services

-

4.7%

Consumer Cyclical

-

12.5%

Consumer Defensive

-

6.2%

Energy

-

9.5%

Financial Services

-

28.4%

Healthcare

-

6.2%

Industrials

-

10.3%

Real Estate

-

1.4%

Technology

-

8.3%

Utilities

-

4.6%

Basic Materials

GDXJ
100.0%
INDA
8.0%

Communication Services

GDXJ

-

INDA
4.7%

Consumer Cyclical

GDXJ

-

INDA
12.5%

Consumer Defensive

GDXJ

-

INDA
6.2%

Energy

GDXJ

-

INDA
9.5%

Financial Services

GDXJ

-

INDA
28.4%

Healthcare

GDXJ

-

INDA
6.2%

Industrials

GDXJ

-

INDA
10.3%

Real Estate

GDXJ

-

INDA
1.4%

Technology

GDXJ

-

INDA
8.3%

Utilities

GDXJ

-

INDA
4.6%

Compare stocks, funds, or ETFs

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VanEck Junior Gold Miners ETF

iShares MSCI India ETF

Often compared with GDXJ:
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Often compared with INDA:
INDA vs. FLININDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNM

Return for Risk

GDXJ vs. INDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GDXJ
GDXJ Risk / Return Rank: 3131
Overall Rank
GDXJ Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
GDXJ Sortino Ratio Rank: 2929
Sortino Ratio Rank
GDXJ Omega Ratio Rank: 3333
Omega Ratio Rank
GDXJ Calmar Ratio Rank: 3232
Calmar Ratio Rank
GDXJ Martin Ratio Rank: 2929
Martin Ratio Rank
INDA
INDA Risk / Return Rank: 22
Overall Rank
INDA Sharpe Ratio Rank: 22
Sharpe Ratio Rank
INDA Sortino Ratio Rank: 22
Sortino Ratio Rank
INDA Omega Ratio Rank: 22
Omega Ratio Rank
INDA Calmar Ratio Rank: 33
Calmar Ratio Rank
INDA Martin Ratio Rank: 00
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. INDA - Risk-Adjusted Trends Comparison

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

GDXJINDADifference
Sharpe ratioReturn per unit of total volatility
1.00
-0.96

+1.96

Sortino ratioReturn per unit of downside risk
1.45
-1.34

+2.79

Omega ratioGain probability vs. loss probability

1.20

0.85

+0.35

Calmar ratioReturn relative to maximum drawdown

1.43

-0.75

+2.18

Martin ratioReturn relative to average drawdown

3.72

-1.78

+5.50

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. INDA - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.00, which is higher than the INDA Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of GDXJ and INDA, 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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Sharpe Ratios by Period

GDXJINDADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.00

-0.96

+1.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.39

0.15

+0.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.26

0.32

-0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.05

0.23

-0.19

Drawdowns

GDXJ vs. INDA - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for GDXJ and INDA.

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Drawdown Indicators

GDXJINDADifference

Max Drawdown

Largest peak-to-trough decline

-88.66%

-45.07%

-43.59%

Max Drawdown (1Y)

Largest decline over 1 year

-35.60%

-18.69%

-16.91%

Max Drawdown (3Y)

Largest decline over 3 years

-35.60%

-22.72%

-12.88%

Max Drawdown (5Y)

Largest decline over 5 years

-50.99%

-22.72%

-28.27%

Max Drawdown (10Y)

Largest decline over 10 years

-57.77%

-45.07%

-12.70%

Current Drawdown

Current decline from peak

-34.94%

-19.68%

-15.26%

Average Drawdown

Average peak-to-trough decline

-60.48%

-9.58%

-50.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.67%

7.88%

+5.79%

Volatility

GDXJ vs. INDA - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 17.66% compared to iShares MSCI India ETF (INDA) at 5.11%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GDXJINDADifference

Volatility (1M)

Calculated over the trailing 1-month period

17.66%

5.11%

+12.55%

Volatility (6M)

Calculated over the trailing 6-month period

42.71%

12.75%

+29.96%

Volatility (1Y)

Calculated over the trailing 1-year period

50.84%

14.72%

+36.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.34%

15.39%

+25.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

44.15%

21.12%

+23.03%

GDXJ vs. INDA - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is lower than INDA's 0.69% expense ratio.

Dividends

GDXJ vs. INDA - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.61%, while INDA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GDXJ
VanEck Junior Gold Miners ETF		2.61%2.33%2.61%0.72%0.51%1.78%1.58%0.39%0.45%0.03%4.78%0.72%
INDA
iShares MSCI India ETF		0.00%0.00%0.76%0.16%0.00%6.44%0.27%0.99%0.94%1.09%0.90%1.19%

Frequently Asked Questions

GDXJ and INDA have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GDXJ has higher volatility (17.66%) compared to INDA (5.11%). In terms of maximum drawdown, GDXJ dropped -88.66% vs INDA's -45.07%.

On 10-year performance, GDXJ leads with 11.53% vs 6.73% for INDA. On fees, GDXJ is cheaper at 0.52% per year. On volatility, INDA has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, GDXJ has performed better with a 11.53% return vs 6.73%. 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 0.69% for INDA.

GDXJ has the higher dividend yield at 2.61%, compared with 0.00% for INDA.

GDXJ is categorized as Gold, while INDA is Asia Pacific Equities. GDXJ tracks MVIS Global Junior Gold Miners Index, while INDA tracks MSCI India Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.52% for GDXJ and 0.69% for INDA.

GDXJ currently has the higher Sharpe Ratio (1.00 vs -0.96), 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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