GDXJ vs. PSCM

Last updated Jun 4, 2026

GDXJ (VanEck Junior Gold Miners ETF) and PSCM (Invesco S&P SmallCap Materials ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while PSCM is a Materials fund tracking the S&P Small Cap 600 / Materials -SEC. Both are passively managed. Over the past 10 years, GDXJ returned 13.07%/yr vs 12.90%/yr for PSCM. At a 0.24 correlation, their price movements are largely independent. GDXJ charges 0.52%/yr vs 0.29%/yr for PSCM.

Performance

GDXJ vs. PSCM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) and Invesco S&P SmallCap Materials ETF (PSCM). 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 lower than PSCM's 26.28% return. Both investments have delivered pretty close results over the past 10 years, with GDXJ having a 13.07% annualized return and PSCM not far behind at 12.90%.

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%

PSCM

• 1D: -1.52%
• 1M: -0.62%
• YTD: 26.28%
• 6M: 30.79%
• 1Y: 62.19%
• 3Y*: 18.02%
• 5Y*: 10.07%
• 10Y*: 12.90%

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

GDXJ vs. PSCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDXJ VanEck Junior Gold Miners ETF	-2.55%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%
PSCM Invesco S&P SmallCap Materials ETF	26.28%	15.59%	0.67%	19.86%	-6.45%	18.02%	22.18%	21.75%	-23.28%	10.37%

Correlation

The correlation between GDXJ and PSCM is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	0.24

The correlation between GDXJ and PSCM shifts across timeframes, from 0.22 (10 years) to 0.38 (5 years), reflecting how their relationship changes across market environments.

GDXJ vs. PSCM - Sectors Allocation Comparison

Sectors	GDXJ	PSCM
Basic Materials	100.0%	91.2%
Communication Services	-	-
Consumer Cyclical	-	1.8%
Consumer Defensive	-	-
Energy	-	7.0%
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GDXJ vs. PSCM — 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

PSCM

PSCM Risk / Return Rank: 78
PSCM Sharpe Ratio Rank: 80
PSCM Sortino Ratio Rank: 79
PSCM Omega Ratio Rank: 66
PSCM Calmar Ratio Rank: 83
PSCM Martin Ratio Rank: 82

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. PSCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and Invesco S&P SmallCap Materials ETF (PSCM). 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	PSCM	Difference
Sharpe ratio: Return per unit of total volatility	1.32	2.61	-1.29
Sortino ratio: Return per unit of downside risk	1.74	3.55	-1.80
Omega ratio: Gain probability vs. loss probability	1.24	1.40	-0.16
Calmar ratio: Return relative to maximum drawdown	1.99	4.36	-2.38
Martin ratio: Return relative to average drawdown	4.95	16.51	-11.56
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. PSCM - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.32, which is lower than the PSCM Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of GDXJ and PSCM, 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	PSCM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	2.61	-1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.39	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.48	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.39	-0.34

Drawdowns

GDXJ vs. PSCM - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than PSCM's maximum drawdown of -51.34%. Use the drawdown chart below to compare losses from any high point for GDXJ and PSCM.

Drawdown Indicators

	GDXJ	PSCM	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-51.34%	-37.32%
Max Drawdown (1Y) Largest decline over 1 year	-32.92%	-14.33%	-18.59%
Max Drawdown (3Y) Largest decline over 3 years	-32.92%	-35.36%	+2.44%
Max Drawdown (5Y) Largest decline over 5 years	-50.99%	-35.36%	-15.63%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-51.34%	-6.43%
Current Drawdown Current decline from peak	-29.01%	-2.73%	-26.28%
Average Drawdown Average peak-to-trough decline	-60.50%	-10.90%	-49.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	3.78%	+9.41%

Volatility

GDXJ vs. PSCM - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 16.66% compared to Invesco S&P SmallCap Materials ETF (PSCM) at 7.72%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than PSCM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	PSCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.66%	7.72%	+8.94%
Volatility (6M) Calculated over the trailing 6-month period	41.34%	16.84%	+24.50%
Volatility (1Y) Calculated over the trailing 1-year period	49.79%	24.03%	+25.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.10%	25.74%	+15.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.06%	26.91%	+17.15%

GDXJ vs. PSCM - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is higher than PSCM's 0.29% expense ratio.

Dividends

GDXJ vs. PSCM - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.39%, more than PSCM's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck 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%
PSCM Invesco S&P SmallCap Materials ETF	1.02%	1.17%	0.80%	0.81%	0.93%	0.67%	1.56%	1.14%	1.25%	0.61%	0.76%	1.33%

Frequently Asked Questions

Can I hold both GDXJ and PSCM in my portfolio?

GDXJ and PSCM have a correlation of 0.38, 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 PSCM?

GDXJ has higher volatility (16.66%) compared to PSCM (7.72%). In terms of maximum drawdown, GDXJ dropped -88.66% vs PSCM's -51.34%.

Which ETF is better, GDXJ or PSCM?

On 10-year performance, GDXJ leads with 13.07% vs 12.90% for PSCM. On fees, PSCM is cheaper at 0.29% per year. On volatility, PSCM has been the lower-risk option at 7.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or PSCM?

Over the 10-year period, GDXJ has performed better with a 13.07% return vs 12.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXJ or PSCM?

PSCM is cheaper with a 0.29% expense ratio, compared with 0.52% for GDXJ.

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

GDXJ has the higher dividend yield at 2.39%, compared with 1.02% for PSCM.

What is the main difference between GDXJ and PSCM?

GDXJ is categorized as Gold, while PSCM is Materials. GDXJ tracks MVIS Global Junior Gold Miners Index, while PSCM tracks S&P Small Cap 600 / Materials -SEC. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.52% for GDXJ and 0.29% for PSCM.

Which has better risk-adjusted returns?

PSCM currently has the higher Sharpe Ratio (2.61 vs 1.31), 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.