GDXJ vs. MOAT

Last updated Aug 4, 2026

GDXJ (VanEck Junior Gold Miners ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, GDXJ returned 8.85%/yr vs 13.61%/yr for MOAT. Their 0.19 correlation means their historical movements had little consistent relationship. GDXJ charges 0.52%/yr vs 0.47%/yr for MOAT.

Performance

GDXJ vs. MOAT - Performance Comparison

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

Returns By Period

In the year-to-date period, GDXJ achieves a -13.28% return, which is significantly lower than MOAT's 5.78% return. Over the past 10 years, GDXJ has underperformed MOAT with an annualized return of 8.85%, while MOAT has yielded a comparatively higher 13.61% annualized return.

GDXJ

• 1D: 3.44%
• 1M: -4.12%
• 6M: -20.48%
• YTD: -13.28%
• 1Y: 55.23%
• 3Y*: 43.15%
• 5Y*: 18.66%
• 10Y*: 8.85%
• ALL TIME*: 1.78%

MOAT

• 1D: 1.36%
• 1M: 3.07%
• 6M: 4.21%
• YTD: 5.78%
• 1Y: 15.84%
• 3Y*: 12.01%
• 5Y*: 9.07%
• 10Y*: 13.61%
• ALL TIME*: 13.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDXJ VanEck Junior Gold Miners ETF	$470.71M	$441.62M	$622.38M
MOAT VanEck Morningstar Wide Moat ETF	$67.13M	$66.89M	$81.17M

GDXJ vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDXJ VanEck Junior Gold Miners ETF	-13.28%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%
MOAT VanEck Morningstar Wide Moat ETF	5.78%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between GDXJ and MOAT is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (5Y) Shows whether the relationship held over a longer period.	0.28
Correlation (10Y) Provides a long-term view across more market conditions.	0.19
Correlation (All Time) Calculated using the full available price history since Apr 25, 2012	0.19

The correlation between GDXJ and MOAT shifts across timeframes, from 0.19 (10 years) to 0.30 (1 year), reflecting how their relationship changes across market environments.

GDXJ vs. MOAT - Sectors Allocation Comparison

Sectors	GDXJ	MOAT
Basic Materials	100.0%	-
Financial Services	0.1%	9.2%
Communication Services	-	2.4%
Consumer Cyclical	-	11.1%
Consumer Defensive	-	18.2%
Energy	-	-
Healthcare	-	18.1%
Industrials	-	9.5%
Real Estate	-	0.7%
Technology	-	30.8%
Utilities	-	-

Return for Risk

GDXJ vs. MOAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GDXJ

GDXJ Risk / Return Rank: 38
GDXJ Sharpe Ratio Rank: 41
GDXJ Sortino Ratio Rank: 40
GDXJ Omega Ratio Rank: 42
GDXJ Calmar Ratio Rank: 38
GDXJ Martin Ratio Rank: 31

MOAT

MOAT Risk / Return Rank: 41
MOAT Sharpe Ratio Rank: 45
MOAT Sortino Ratio Rank: 46
MOAT Omega Ratio Rank: 40
MOAT Calmar Ratio Rank: 37
MOAT Martin Ratio Rank: 37

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GDXJ vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and VanEck Morningstar Wide Moat ETF (MOAT). 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	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.14	-0.11
Sortino ratio: Return per unit of downside risk	1.50	1.70	-0.19
Omega ratio: Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio: Return relative to maximum drawdown	1.34	1.28	+0.06
Martin ratio: Return relative to average drawdown	2.83	3.82	-0.99

GDXJ vs. MOAT - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.03, which is comparable to the MOAT Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of GDXJ and MOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GDXJ vs. MOAT - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for GDXJ and MOAT.

Drawdown Indicators

	GDXJ	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-33.31%	-55.35%
Max Drawdown (1Y) Largest decline over 1 year	-41.32%	-12.43%	-28.89%
Max Drawdown (3Y) Largest decline over 3 years	-41.32%	-21.44%	-19.88%
Max Drawdown (5Y) Largest decline over 5 years	-48.79%	-23.96%	-24.83%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-33.31%	-24.46%
Current Drawdown Current decline from peak	-36.83%	0.00%	-36.83%
Average Drawdown Average peak-to-trough decline	-60.25%	-3.82%	-56.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.56%	4.16%	+15.40%

Volatility

GDXJ vs. MOAT - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 14.46% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 4.08%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.46%	4.08%	+10.38%
Volatility (6M) Calculated over the trailing 6-month period	42.31%	10.55%	+31.76%
Volatility (1Y) Calculated over the trailing 1-year period	54.05%	14.01%	+40.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.11%	18.30%	+23.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.20%	18.63%	+25.57%

GDXJ vs. MOAT - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is higher than MOAT's 0.47% expense ratio.

Dividends

GDXJ vs. MOAT - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.69%, more than MOAT's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.69%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
MOAT VanEck Morningstar Wide Moat ETF	1.28%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both GDXJ and MOAT in my portfolio?

GDXJ and MOAT have a correlation of 0.30, 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 MOAT?

GDXJ has higher volatility (14.46%) compared to MOAT (4.08%). In terms of maximum drawdown, GDXJ dropped -88.66% vs MOAT's -33.31%.

Which ETF is better, GDXJ or MOAT?

On 10-year performance, MOAT leads with 13.61% vs 8.85% for GDXJ. On fees, MOAT is cheaper at 0.47% per year. On volatility, MOAT has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or MOAT?

Over the 10-year period, MOAT has performed better with a 13.61% return vs 8.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXJ or MOAT?

MOAT is cheaper with a 0.47% expense ratio, compared with 0.52% for GDXJ.

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

GDXJ has the higher dividend yield at 2.69%, compared with 1.28% for MOAT.

What is the main difference between GDXJ and MOAT?

GDXJ is categorized as Gold, while MOAT is Large Cap Blend Equities. GDXJ tracks MVIS Global Junior Gold Miners Index, while MOAT tracks Morningstar Wide Moat Focus Index. Their fees differ too: 0.52% for GDXJ and 0.47% for MOAT.

Which has better risk-adjusted returns?

MOAT currently has the higher Sharpe Ratio (1.14 vs 1.03), 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.