GDXJ vs. RING

Last updated Aug 4, 2026

GDXJ (VanEck Junior Gold Miners ETF) and RING (iShares MSCI Global Gold Miners ETF) are both Gold funds - GDXJ tracks the MVIS Global Junior Gold Miners Index while RING tracks the MSCI ACWI Select Gold Miners Investable Market Index. Both are passively managed. Over the past 10 years, GDXJ returned 8.85%/yr vs 11.47%/yr for RING. Their correlation of 0.94 means they have usually moved in the same direction. GDXJ charges 0.52%/yr vs 0.39%/yr for RING.

Performance

GDXJ vs. RING - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) and iShares MSCI Global Gold Miners ETF (RING). 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 RING's -10.21% return. Over the past 10 years, GDXJ has underperformed RING with an annualized return of 8.85%, while RING has yielded a comparatively higher 11.47% 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%

RING

• 1D: 2.90%
• 1M: -2.34%
• 6M: -18.20%
• YTD: -10.21%
• 1Y: 49.46%
• 3Y*: 44.21%
• 5Y*: 20.09%
• 10Y*: 11.47%
• ALL TIME*: 3.00%

*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
RING iShares MSCI Global Gold Miners ETF	$77.82M	$51.45M	$44.34M

GDXJ vs. RING - 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%
RING iShares MSCI Global Gold Miners ETF	-10.21%	164.72%	15.98%	12.29%	-15.40%	-7.46%	24.98%	49.92%	-13.14%	10.24%

Correlation

The correlation between GDXJ and RING is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012	0.94

The correlation between GDXJ and RING has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

GDXJ vs. RING - Sectors Allocation Comparison

Sectors	GDXJ	RING
Basic Materials	100.0%	100.0%
Financial Services	0.1%	0.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GDXJ vs. RING — 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

RING

RING Risk / Return Rank: 37
RING Sharpe Ratio Rank: 40
RING Sortino Ratio Rank: 39
RING Omega Ratio Rank: 40
RING Calmar Ratio Rank: 37
RING Martin Ratio Rank: 31

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. RING - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and iShares MSCI Global Gold Miners ETF (RING). 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	RING	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.02	+0.01
Sortino ratio: Return per unit of downside risk	1.50	1.47	+0.03
Omega ratio: Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio: Return relative to maximum drawdown	1.34	1.29	+0.06
Martin ratio: Return relative to average drawdown	2.83	2.80	+0.03

GDXJ vs. RING - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.03, which is comparable to the RING Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of GDXJ and RING, 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. RING - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than RING's maximum drawdown of -79.47%. Use the drawdown chart below to compare losses from any high point for GDXJ and RING.

Drawdown Indicators

	GDXJ	RING	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-79.47%	-9.19%
Max Drawdown (1Y) Largest decline over 1 year	-41.32%	-38.61%	-2.71%
Max Drawdown (3Y) Largest decline over 3 years	-41.32%	-38.61%	-2.71%
Max Drawdown (5Y) Largest decline over 5 years	-48.79%	-47.94%	-0.85%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-52.04%	-5.73%
Current Drawdown Current decline from peak	-36.83%	-33.49%	-3.34%
Average Drawdown Average peak-to-trough decline	-60.25%	-47.23%	-13.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.56%	17.70%	+1.86%

Volatility

GDXJ vs. RING - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 14.46% compared to iShares MSCI Global Gold Miners ETF (RING) at 11.87%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than RING based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	RING	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.46%	11.87%	+2.59%
Volatility (6M) Calculated over the trailing 6-month period	42.31%	37.14%	+5.17%
Volatility (1Y) Calculated over the trailing 1-year period	54.05%	48.83%	+5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.11%	37.30%	+4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.20%	36.67%	+7.53%

GDXJ vs. RING - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is higher than RING's 0.39% expense ratio.

Dividends

GDXJ vs. RING - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.69%, more than RING's 1.38% 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%
RING iShares MSCI Global Gold Miners ETF	1.38%	0.84%	1.43%	2.01%	2.29%	2.38%	0.83%	0.83%	0.70%	0.42%	1.41%	0.96%

Frequently Asked Questions

Can I hold both GDXJ and RING in my portfolio?

With a correlation of 0.98, GDXJ and RING move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GDXJ or RING?

GDXJ has higher volatility (14.46%) compared to RING (11.87%). In terms of maximum drawdown, GDXJ dropped -88.66% vs RING's -79.47%.

Which ETF is better, GDXJ or RING?

On 10-year performance, RING leads with 11.47% vs 8.85% for GDXJ. On fees, RING is cheaper at 0.39% per year. On volatility, RING has been the lower-risk option at 11.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or RING?

Over the 10-year period, RING has performed better with a 11.47% 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 RING?

RING is cheaper with a 0.39% expense ratio, compared with 0.52% for GDXJ.

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

GDXJ has the higher dividend yield at 2.69%, compared with 1.38% for RING.

What is the main difference between GDXJ and RING?

GDXJ tracks MVIS Global Junior Gold Miners Index, while RING tracks MSCI ACWI Select Gold Miners Investable Market Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.52% for GDXJ and 0.39% for RING.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (1.03 vs 1.02), 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.