GDXJ vs. USAGX

Last updated Jun 4, 2026

GDXJ (VanEck Junior Gold Miners ETF) and USAGX (USAA Precious Metals and Minerals Fund) are both funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while USAGX is a Precious Metals fund managed by Victory. Over the past 10 years, GDXJ returned 13.07%/yr vs 13.25%/yr for USAGX. Their correlation of 0.94 suggests significant overlap in exposure. GDXJ charges 0.52%/yr vs 1.12%/yr for USAGX.

Performance

GDXJ vs. USAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) and USAA Precious Metals and Minerals Fund (USAGX). 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 USAGX's 0.85% return. Both investments have delivered pretty close results over the past 10 years, with GDXJ having a 13.07% annualized return and USAGX not far ahead at 13.25%.

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%

USAGX

• 1D: 1.44%
• 1M: 1.83%
• YTD: 0.85%
• 6M: 7.09%
• 1Y: 61.13%
• 3Y*: 40.75%
• 5Y*: 18.15%
• 10Y*: 13.25%

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

GDXJ vs. USAGX - 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%
USAGX USAA Precious Metals and Minerals Fund	0.85%	156.06%	10.76%	6.73%	-11.80%	-10.14%	25.85%	42.97%	-12.26%	9.65%

Correlation

The correlation between GDXJ and USAGX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Nov 12, 2009	0.94

The correlation between GDXJ and USAGX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

GDXJ vs. USAGX — 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

USAGX

USAGX Risk / Return Rank: 23
USAGX Sharpe Ratio Rank: 25
USAGX Sortino Ratio Rank: 19
USAGX Omega Ratio Rank: 25
USAGX Calmar Ratio Rank: 29
USAGX Martin Ratio Rank: 19

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. USAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and USAA Precious Metals and Minerals Fund (USAGX). 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	USAGX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.42	-0.10
Sortino ratio: Return per unit of downside risk	1.74	1.82	-0.08
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	1.99	2.01	-0.02
Martin ratio: Return relative to average drawdown	4.95	5.20	-0.24
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. USAGX - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.32, which is comparable to the USAGX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of GDXJ and USAGX, 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	USAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.42	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.56	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.41	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.19	-0.13

Drawdowns

GDXJ vs. USAGX - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than USAGX's maximum drawdown of -80.89%. Use the drawdown chart below to compare losses from any high point for GDXJ and USAGX.

Drawdown Indicators

	GDXJ	USAGX	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-80.89%	-7.77%
Max Drawdown (1Y) Largest decline over 1 year	-32.92%	-30.12%	-2.80%
Max Drawdown (3Y) Largest decline over 3 years	-32.92%	-30.12%	-2.80%
Max Drawdown (5Y) Largest decline over 5 years	-50.99%	-45.72%	-5.27%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-51.03%	-6.74%
Current Drawdown Current decline from peak	-29.01%	-24.52%	-4.49%
Average Drawdown Average peak-to-trough decline	-60.50%	-43.08%	-17.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	11.60%	+1.59%

Volatility

GDXJ vs. USAGX - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 16.66% compared to USAA Precious Metals and Minerals Fund (USAGX) at 14.19%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than USAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	USAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.66%	14.19%	+2.47%
Volatility (6M) Calculated over the trailing 6-month period	41.34%	35.26%	+6.08%
Volatility (1Y) Calculated over the trailing 1-year period	49.79%	42.95%	+6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.10%	32.87%	+8.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.06%	32.68%	+11.38%

GDXJ vs. USAGX - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is lower than USAGX's 1.12% expense ratio.

Dividends

GDXJ vs. USAGX - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.39%, more than USAGX's 0.24% 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%
USAGX USAA Precious Metals and Minerals Fund	0.24%	0.24%	0.00%	2.45%	0.95%	0.84%	0.04%	0.00%	0.00%	0.00%	4.20%	0.00%

Frequently Asked Questions

Can I hold both GDXJ and USAGX in my portfolio?

With a correlation of 0.95, GDXJ and USAGX 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 USAGX?

GDXJ has higher volatility (16.66%) compared to USAGX (14.19%). In terms of maximum drawdown, GDXJ dropped -88.66% vs USAGX's -80.89%.

Which has better risk-adjusted returns?

USAGX currently has the higher Sharpe Ratio (1.42 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.