GDXJ vs. NLR

Last updated Jul 17, 2026

GDXJ (VanEck Junior Gold Miners ETF) and NLR (VanEck Uranium and Nuclear ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while NLR is a Uranium fund tracking the MVIS Global Uranium & Nuclear Energy Index. Both are passively managed. Over the past 10 years, GDXJ returned 8.32%/yr vs 10.63%/yr for NLR. At a 0.35 correlation, their price movements are largely independent. GDXJ charges 0.52%/yr vs 0.56%/yr for NLR.

Performance

GDXJ vs. NLR - Performance Comparison

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

Returns By Period

In the year-to-date period, GDXJ achieves a -18.57% return, which is significantly lower than NLR's -15.72% return. Over the past 10 years, GDXJ has underperformed NLR with an annualized return of 8.32%, while NLR has yielded a comparatively higher 10.63% annualized return.

GDXJ

• 1D: -4.04%
• 1M: -19.04%
• 6M: -27.13%
• YTD: -18.57%
• 1Y: 40.44%
• 3Y*: 36.46%
• 5Y*: 17.45%
• 10Y*: 8.32%

NLR

• 1D: -4.31%
• 1M: -16.00%
• 6M: -27.85%
• YTD: -15.72%
• 1Y: -6.24%
• 3Y*: 23.28%
• 5Y*: 17.50%
• 10Y*: 10.63%

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

GDXJ vs. NLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDXJ VanEck Junior Gold Miners ETF	-18.57%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%
NLR VanEck Uranium and Nuclear ETF	-15.72%	56.50%	14.26%	36.67%	2.29%	13.63%	3.49%	0.20%	4.94%	8.25%

Correlation

The correlation between GDXJ and NLR is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.35

The correlation between GDXJ and NLR shifts across timeframes, from 0.34 (10 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.

GDXJ vs. NLR - Sectors Allocation Comparison

Sectors	GDXJ	NLR
Basic Materials	99.7%	2.3%
Financial Services	0.1%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	48.0%
Healthcare	-	-
Industrials	-	18.9%
Real Estate	-	-
Technology	-	1.8%
Utilities	-	29.2%

Return for Risk

GDXJ vs. NLR — Risk / Return Rank

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

GDXJ

GDXJ Risk / Return Rank: 26
GDXJ Sharpe Ratio Rank: 25
GDXJ Sortino Ratio Rank: 26
GDXJ Omega Ratio Rank: 28
GDXJ Calmar Ratio Rank: 25
GDXJ Martin Ratio Rank: 23

NLR

NLR Risk / Return Rank: 8
NLR Sharpe Ratio Rank: 8
NLR Sortino Ratio Rank: 9
NLR Omega Ratio Rank: 9
NLR Calmar Ratio Rank: 8
NLR Martin Ratio Rank: 7

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. NLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and VanEck Uranium and Nuclear ETF (NLR). 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	NLR	Difference
Sharpe ratio: Return per unit of total volatility	0.76	-0.15	+0.91
Sortino ratio: Return per unit of downside risk	1.24	0.09	+1.15
Omega ratio: Gain probability vs. loss probability	1.16	1.01	+0.15
Calmar ratio: Return relative to maximum drawdown	1.00	-0.17	+1.17
Martin ratio: Return relative to average drawdown	2.29	-0.39	+2.68

GDXJ vs. NLR - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 0.76, which is higher than the NLR Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of GDXJ and NLR, 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. NLR - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than NLR's maximum drawdown of -65.05%. Use the drawdown chart below to compare losses from any high point for GDXJ and NLR.

Drawdown Indicators

	GDXJ	NLR	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-65.05%	-23.61%
Max Drawdown (1Y) Largest decline over 1 year	-40.68%	-36.32%	-4.36%
Max Drawdown (3Y) Largest decline over 3 years	-40.68%	-36.32%	-4.36%
Max Drawdown (5Y) Largest decline over 5 years	-48.79%	-36.32%	-12.47%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-36.32%	-21.45%
Current Drawdown Current decline from peak	-40.68%	-36.32%	-4.36%
Average Drawdown Average peak-to-trough decline	-60.32%	-35.67%	-24.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.74%	15.87%	+1.87%

Volatility

GDXJ vs. NLR - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 14.07% compared to VanEck Uranium and Nuclear ETF (NLR) at 9.39%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than NLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	NLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.07%	9.39%	+4.68%
Volatility (6M) Calculated over the trailing 6-month period	44.66%	32.73%	+11.93%
Volatility (1Y) Calculated over the trailing 1-year period	53.34%	43.21%	+10.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.93%	29.90%	+12.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.27%	24.42%	+19.85%

GDXJ vs. NLR - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is lower than NLR's 0.56% expense ratio.

Dividends

GDXJ vs. NLR - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.86%, less than NLR's 3.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.86%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
NLR VanEck Uranium and Nuclear ETF	3.02%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%

Frequently Asked Questions

Can I hold both GDXJ and NLR in my portfolio?

GDXJ and NLR have a correlation of 0.54, 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 NLR?

GDXJ has higher volatility (14.07%) compared to NLR (9.39%). In terms of maximum drawdown, GDXJ dropped -88.66% vs NLR's -65.05%.

Which ETF is better, GDXJ or NLR?

On 10-year performance, NLR leads with 10.63% vs 8.32% for GDXJ. On fees, GDXJ is cheaper at 0.52% per year. On volatility, NLR has been the lower-risk option at 9.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or NLR?

Over the 10-year period, NLR has performed better with a 10.63% return vs 8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXJ or NLR?

GDXJ is cheaper with a 0.52% expense ratio, compared with 0.56% for NLR.

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

NLR has the higher dividend yield at 3.02%, compared with 2.86% for GDXJ.

What is the main difference between GDXJ and NLR?

GDXJ is categorized as Gold, while NLR is Uranium. GDXJ tracks MVIS Global Junior Gold Miners Index, while NLR tracks MVIS Global Uranium & Nuclear Energy Index. Their fees differ too: 0.52% for GDXJ and 0.56% for NLR.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (0.76 vs -0.15), 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.