GDXJ vs. USAGX

Last updated Aug 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 8.85%/yr vs 9.33%/yr for USAGX. Their correlation of 0.94 means they have usually moved in the same direction. 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

The year-to-date returns for both stocks are quite close, with GDXJ having a -13.28% return and USAGX slightly lower at -13.41%. Over the past 10 years, GDXJ has underperformed USAGX with an annualized return of 8.85%, while USAGX has yielded a comparatively higher 9.33% 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%

USAGX

• 1D: -3.41%
• 1M: -4.69%
• 6M: -20.65%
• YTD: -13.41%
• 1Y: 42.45%
• 3Y*: 36.10%
• 5Y*: 16.73%
• 10Y*: 9.33%
• ALL TIME*: 5.56%

*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
USAGX USAA Precious Metals and Minerals Fund	$0.00	$0.00	$0.00

GDXJ vs. USAGX - 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%
USAGX USAA Precious Metals and Minerals Fund	-13.41%	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 0.96 - 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.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.94

The correlation between GDXJ and USAGX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

GDXJ vs. USAGX — 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

USAGX

USAGX Risk / Return Rank: 25
USAGX Sharpe Ratio Rank: 27
USAGX Sortino Ratio Rank: 26
USAGX Omega Ratio Rank: 30
USAGX Calmar Ratio Rank: 24
USAGX Martin Ratio Rank: 17

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. 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.

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	USAGX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.00	+0.03
Sortino ratio: Return per unit of downside risk	1.50	1.45	+0.05
Omega ratio: Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio: Return relative to maximum drawdown	1.34	1.19	+0.15
Martin ratio: Return relative to average drawdown	2.83	2.60	+0.23

GDXJ vs. USAGX - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.03, which is comparable to the USAGX Sharpe Ratio of 1.00. 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.

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	-41.32%	-38.32%	-3.00%
Max Drawdown (3Y) Largest decline over 3 years	-41.32%	-38.32%	-3.00%
Max Drawdown (5Y) Largest decline over 5 years	-48.79%	-45.72%	-3.07%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-51.03%	-6.74%
Current Drawdown Current decline from peak	-36.83%	-35.20%	-1.63%
Average Drawdown Average peak-to-trough decline	-60.25%	-43.03%	-17.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.56%	17.58%	+1.98%

Volatility

GDXJ vs. USAGX - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 14.46% compared to USAA Precious Metals and Minerals Fund (USAGX) at 12.08%. 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	14.46%	12.08%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	42.31%	37.91%	+4.40%
Volatility (1Y) Calculated over the trailing 1-year period	54.05%	45.69%	+8.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.11%	33.72%	+8.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.20%	32.94%	+11.26%

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 2.69%, more than USAGX's 0.28% 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%
USAGX USAA Precious Metals and Minerals Fund	0.28%	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 0.96, 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 (14.46%) compared to USAGX (12.08%). In terms of maximum drawdown, GDXJ dropped -88.66% vs USAGX's -80.89%.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (1.03 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.