GDXJ vs. NGD

Last updated Jun 13, 2026

GDXJ (VanEck Junior Gold Miners ETF) is Gold fund tracking the MVIS Global Junior Gold Miners Index, while NGD (New Gold Inc.) is a stock. A 0.73 correlation means they provide meaningful diversification when combined.

Performance

GDXJ vs. NGD - Performance Comparison

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

Returns By Period

GDXJ

• 1D: 3.15%
• 1M: -19.14%
• YTD: -8.37%
• 6M: -6.68%
• 1Y: 51.06%
• 3Y*: 44.17%
• 5Y*: 16.23%
• 10Y*: 12.00%

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXJ vs. NGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDXJ VanEck Junior Gold Miners ETF	-8.37%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%
NGD New Gold Inc.	4.25%	251.21%	69.86%	48.98%	-34.67%	-31.51%	148.86%	16.28%	-77.00%	-6.00%

Correlation

The correlation between GDXJ and NGD is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.73

The correlation between GDXJ and NGD has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

Return for Risk

GDXJ vs. NGD — Risk / Return Rank

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

GDXJ

GDXJ Risk / Return Rank: 31
GDXJ Sharpe Ratio Rank: 31
GDXJ Sortino Ratio Rank: 30
GDXJ Omega Ratio Rank: 33
GDXJ Calmar Ratio Rank: 30
GDXJ Martin Ratio Rank: 28

NGD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. NGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and New Gold Inc. (NGD). 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	NGD	Difference
Sharpe ratio: Return per unit of total volatility	1.00	—	—
Sortino ratio: Return per unit of downside risk	1.45	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.30	—	—
Martin ratio: Return relative to average drawdown	3.55	—	—

Drawdowns

Drawdown Indicators

	GDXJ	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-39.47%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-39.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	—	—
Current Drawdown Current decline from peak	-33.25%	—	—
Average Drawdown Average peak-to-trough decline	-60.45%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	14.41%	—	—

Volatility

Volatility by Period

	GDXJ	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	51.54%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.23%	—	—

Dividends

GDXJ vs. NGD - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.54%, while NGD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.54%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
NGD New Gold Inc.	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 NGD in my portfolio?

GDXJ and NGD have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.