GDXJ vs. SHLD

Last updated Jun 14, 2026

GDXJ (VanEck Junior Gold Miners ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, GDXJ returned 49.74% vs 8.26% for SHLD. At a 0.33 correlation, their price movements are largely independent. GDXJ charges 0.52%/yr vs 0.50%/yr for SHLD.

Performance

GDXJ vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) and Global X Defense Tech ETF (SHLD). 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 SHLD's -1.50% return.

GDXJ

• 1D: 3.15%
• 1M: -17.04%
• YTD: -8.37%
• 6M: -6.68%
• 1Y: 49.74%
• 3Y*: 44.17%
• 5Y*: 16.23%
• 10Y*: 12.00%

SHLD

• 1D: -2.04%
• 1M: -0.44%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXJ vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GDXJ VanEck Junior Gold Miners ETF	-8.37%	172.28%	15.67%	10.88%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%

Correlation

The correlation between GDXJ and SHLD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.33

GDXJ vs. SHLD - Sectors Allocation Comparison

Sectors	GDXJ	SHLD
Basic Materials	100.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	87.8%
Real Estate	-	-
Technology	-	12.2%
Utilities	-	-

Return for Risk

GDXJ vs. SHLD — 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

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 16
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

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. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and Global X Defense Tech ETF (SHLD). 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	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	1.00	0.43	+0.57
Sortino ratio: Return per unit of downside risk	1.45	0.78	+0.67
Omega ratio: Gain probability vs. loss probability	1.20	1.09	+0.11
Calmar ratio: Return relative to maximum drawdown	1.30	0.52	+0.78
Martin ratio: Return relative to average drawdown	3.55	1.28	+2.27

GDXJ vs. SHLD - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.00, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of GDXJ and SHLD, 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. SHLD - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for GDXJ and SHLD.

Drawdown Indicators

	GDXJ	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-20.10%	-68.56%
Max Drawdown (1Y) Largest decline over 1 year	-39.47%	-20.10%	-19.37%
Max Drawdown (3Y) Largest decline over 3 years	-39.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	—	—
Current Drawdown Current decline from peak	-33.25%	-18.20%	-15.05%
Average Drawdown Average peak-to-trough decline	-60.45%	-3.34%	-57.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.41%	8.12%	+6.29%

Volatility

GDXJ vs. SHLD - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 19.46% compared to Global X Defense Tech ETF (SHLD) at 9.05%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.46%	9.05%	+10.41%
Volatility (6M) Calculated over the trailing 6-month period	43.41%	19.94%	+23.47%
Volatility (1Y) Calculated over the trailing 1-year period	51.54%	24.55%	+26.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.50%	21.29%	+20.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.23%	21.29%	+22.94%

GDXJ vs. SHLD - Expense Ratio Comparison

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

Dividends

GDXJ vs. SHLD - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.54%, more than SHLD's 0.56% 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%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDXJ and SHLD in my portfolio?

GDXJ and SHLD have a correlation of 0.37, 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 SHLD?

GDXJ has higher volatility (19.46%) compared to SHLD (9.05%). In terms of maximum drawdown, GDXJ dropped -88.66% vs SHLD's -20.10%.

Which ETF is better, GDXJ or SHLD?

On 1-year performance, GDXJ leads with 49.74% vs 8.26% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or SHLD?

Over the 1-year period, GDXJ has performed better with a 49.74% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXJ or SHLD?

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

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

GDXJ has the higher dividend yield at 2.54%, compared with 0.56% for SHLD.

What is the main difference between GDXJ and SHLD?

GDXJ is categorized as Gold, while SHLD is Aerospace & Defense. GDXJ tracks MVIS Global Junior Gold Miners Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.52% for GDXJ and 0.50% for SHLD.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (1.00 vs 0.43), 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.