GDXJ vs. SBS

Last updated Jun 13, 2026

GDXJ (VanEck Junior Gold Miners ETF) is Gold fund tracking the MVIS Global Junior Gold Miners Index, while SBS (Companhia de Saneamento Básico do Estado de São Paulo - SABESP) is a stock. Over the past 10 years, GDXJ returned 12.00%/yr vs 16.43%/yr for SBS. At a 0.24 correlation, their price movements are largely independent.

Performance

GDXJ vs. SBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXJ achieves a -8.37% return, which is significantly lower than SBS's 15.28% return. Over the past 10 years, GDXJ has underperformed SBS with an annualized return of 12.00%, while SBS has yielded a comparatively higher 16.43% annualized return.

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%

SBS

• 1D: -0.18%
• 1M: -6.98%
• YTD: 15.28%
• 6M: 14.60%
• 1Y: 38.40%
• 3Y*: 40.12%
• 5Y*: 32.68%
• 10Y*: 16.43%

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

GDXJ vs. SBS - 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%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	15.28%	80.60%	-4.21%	46.89%	48.42%	-13.79%	-40.98%	91.22%	-20.37%	23.83%

Correlation

The correlation between GDXJ and SBS is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.24

The correlation between GDXJ and SBS shifts across timeframes, from 0.22 (10 years) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GDXJ vs. SBS — 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

SBS

SBS Risk / Return Rank: 73
SBS Sharpe Ratio Rank: 77
SBS Sortino Ratio Rank: 73
SBS Omega Ratio Rank: 69
SBS Calmar Ratio Rank: 71
SBS Martin Ratio Rank: 76

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. SBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). 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	SBS	Difference
Sharpe ratio: Return per unit of total volatility	1.00	1.14	-0.14
Sortino ratio: Return per unit of downside risk	1.45	1.76	-0.31
Omega ratio: Gain probability vs. loss probability	1.20	1.21	-0.01
Calmar ratio: Return relative to maximum drawdown	1.30	1.55	-0.25
Martin ratio: Return relative to average drawdown	3.55	4.65	-1.10

GDXJ vs. SBS - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.00, which is comparable to the SBS Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of GDXJ and SBS, 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. SBS - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than SBS's maximum drawdown of -76.49%. Use the drawdown chart below to compare losses from any high point for GDXJ and SBS.

Drawdown Indicators

	GDXJ	SBS	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-76.49%	-12.17%
Max Drawdown (1Y) Largest decline over 1 year	-39.47%	-24.88%	-14.59%
Max Drawdown (3Y) Largest decline over 3 years	-39.47%	-24.88%	-14.59%
Max Drawdown (5Y) Largest decline over 5 years	-49.76%	-30.35%	-19.41%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-61.91%	+4.14%
Current Drawdown Current decline from peak	-33.25%	-22.90%	-10.35%
Average Drawdown Average peak-to-trough decline	-60.45%	-25.70%	-34.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.41%	8.28%	+6.13%

Volatility

GDXJ vs. SBS - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 19.46% compared to Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) at 8.92%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than SBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	SBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.46%	8.92%	+10.54%
Volatility (6M) Calculated over the trailing 6-month period	43.41%	24.61%	+18.80%
Volatility (1Y) Calculated over the trailing 1-year period	51.54%	33.86%	+17.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.50%	36.90%	+4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.23%	43.51%	+0.72%

Dividends

GDXJ vs. SBS - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.54%, more than SBS's 2.33% yield.

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%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	2.33%	4.68%	1.96%	1.66%	1.88%	0.97%	2.93%	1.99%	3.86%	2.76%	0.65%	1.91%

Frequently Asked Questions

Can I hold both GDXJ and SBS in my portfolio?

GDXJ and SBS have a correlation of 0.33, 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 SBS?

GDXJ has higher volatility (19.46%) compared to SBS (8.92%). In terms of maximum drawdown, GDXJ dropped -88.66% vs SBS's -76.49%.

Which has better risk-adjusted returns?

SBS currently has the higher Sharpe Ratio (1.14 vs 1.00), 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.