GDXJ vs. SGDM

Last updated Jun 23, 2026

GDXJ (VanEck Junior Gold Miners ETF) and SGDM (Sprott Gold Miners ETF) are both Gold funds - GDXJ tracks the MVIS Global Junior Gold Miners Index while SGDM tracks the Solactive Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, GDXJ returned 11.51%/yr vs 11.34%/yr for SGDM. Their correlation of 0.95 suggests significant overlap in exposure. GDXJ charges 0.52%/yr vs 0.50%/yr for SGDM.

Performance

GDXJ vs. SGDM - Performance Comparison

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

Returns By Period

In the year-to-date period, GDXJ achieves a -6.73% return, which is significantly lower than SGDM's -3.45% return. Both investments have delivered pretty close results over the past 10 years, with GDXJ having a 11.51% annualized return and SGDM not far behind at 11.34%.

GDXJ

• 1D: -1.03%
• 1M: -4.93%
• YTD: -6.73%
• 6M: -11.57%
• 1Y: 61.56%
• 3Y*: 47.15%
• 5Y*: 19.28%
• 10Y*: 11.51%

SGDM

• 1D: -1.23%
• 1M: -4.58%
• YTD: -3.45%
• 6M: -7.95%
• 1Y: 49.12%
• 3Y*: 39.66%
• 5Y*: 19.95%
• 10Y*: 11.34%

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

GDXJ vs. SGDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDXJ VanEck Junior Gold Miners ETF	-6.73%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%
SGDM Sprott Gold Miners ETF	-3.45%	153.46%	12.14%	2.34%	-8.23%	-9.15%	21.85%	44.27%	-15.14%	10.46%

Correlation

The correlation between GDXJ and SGDM is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014	0.95

The correlation between GDXJ and SGDM has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

GDXJ vs. SGDM - Sectors Allocation Comparison

Sectors	GDXJ	SGDM
Basic Materials	99.5%	99.5%
Financial Services	0.1%	0.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GDXJ vs. SGDM — Risk / Return Rank

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

GDXJ

GDXJ Risk / Return Rank: 32
GDXJ Sharpe Ratio Rank: 34
GDXJ Sortino Ratio Rank: 31
GDXJ Omega Ratio Rank: 34
GDXJ Calmar Ratio Rank: 32
GDXJ Martin Ratio Rank: 30

SGDM

SGDM Risk / Return Rank: 29
SGDM Sharpe Ratio Rank: 30
SGDM Sortino Ratio Rank: 28
SGDM Omega Ratio Rank: 31
SGDM Calmar Ratio Rank: 29
SGDM Martin Ratio Rank: 27

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. SGDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and Sprott Gold Miners ETF (SGDM). 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	SGDM	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.06	+0.13
Sortino ratio: Return per unit of downside risk	1.63	1.48	+0.16
Omega ratio: Gain probability vs. loss probability	1.22	1.21	+0.02
Calmar ratio: Return relative to maximum drawdown	1.57	1.37	+0.19
Martin ratio: Return relative to average drawdown	4.14	3.66	+0.48

GDXJ vs. SGDM - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.19, which is comparable to the SGDM Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of GDXJ and SGDM, 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. SGDM - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than SGDM's maximum drawdown of -54.95%. Use the drawdown chart below to compare losses from any high point for GDXJ and SGDM.

Drawdown Indicators

	GDXJ	SGDM	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-54.95%	-33.71%
Max Drawdown (1Y) Largest decline over 1 year	-39.47%	-35.96%	-3.51%
Max Drawdown (3Y) Largest decline over 3 years	-39.47%	-35.96%	-3.51%
Max Drawdown (5Y) Largest decline over 5 years	-48.79%	-45.06%	-3.73%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-49.69%	-8.08%
Current Drawdown Current decline from peak	-32.06%	-29.48%	-2.58%
Average Drawdown Average peak-to-trough decline	-60.41%	-25.47%	-34.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.91%	13.46%	+1.45%

Volatility

GDXJ vs. SGDM - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 19.55% compared to Sprott Gold Miners ETF (SGDM) at 16.43%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than SGDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	SGDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.55%	16.43%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	44.13%	39.22%	+4.91%
Volatility (1Y) Calculated over the trailing 1-year period	52.24%	46.84%	+5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.64%	36.19%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.30%	37.03%	+7.27%

GDXJ vs. SGDM - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is higher than SGDM's 0.50% expense ratio.

Dividends

GDXJ vs. SGDM - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.50%, more than SGDM's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.50%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
SGDM Sprott Gold Miners ETF	1.08%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%

Frequently Asked Questions

Can I hold both GDXJ and SGDM in my portfolio?

With a correlation of 0.96, GDXJ and SGDM 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 SGDM?

GDXJ has higher volatility (19.55%) compared to SGDM (16.43%). In terms of maximum drawdown, GDXJ dropped -88.66% vs SGDM's -54.95%.

Which ETF is better, GDXJ or SGDM?

On 10-year performance, GDXJ leads with 11.51% vs 11.34% for SGDM. On fees, SGDM is cheaper at 0.50% per year. On volatility, SGDM has been the lower-risk option at 16.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or SGDM?

Over the 10-year period, GDXJ has performed better with a 11.51% return vs 11.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXJ or SGDM?

SGDM is cheaper with a 0.50% expense ratio, compared with 0.52% for GDXJ.

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

GDXJ has the higher dividend yield at 2.50%, compared with 1.08% for SGDM.

What is the main difference between GDXJ and SGDM?

GDXJ tracks MVIS Global Junior Gold Miners Index, while SGDM tracks Solactive Gold Miners Custom Factors Index. They also come from different issuers: VanEck and Sprott. Their fees differ too: 0.52% for GDXJ and 0.50% for SGDM.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (1.19 vs 1.06), 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.