GDXJ vs. VAW

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Vectors Junior Gold Miners ETF (GDXJ) and Vanguard Materials ETF (VAW).

GDXJ and VAW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GDXJ is a passively managed fund by VanEck that tracks the performance of the MVIS Global Junior Gold Miners Index. It was launched on Nov 10, 2009. VAW is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Materials 25/50 Index. It was launched on Jan 26, 2004. Both GDXJ and VAW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GDXJ vs. VAW - Performance Comparison

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

GDXJ vs. VAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDXJ VanEck Vectors Junior Gold Miners ETF	10.08%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%
VAW Vanguard Materials ETF	10.45%	12.30%	0.48%	13.67%	-11.80%	27.43%	19.44%	23.53%	-17.49%	23.76%

Returns By Period

The year-to-date returns for both investments are quite close, with GDXJ having a 10.08% return and VAW slightly higher at 10.45%. Over the past 10 years, GDXJ has outperformed VAW with an annualized return of 17.88%, while VAW has yielded a comparatively lower 10.70% annualized return.

GDXJ

• 1D: 4.34%
• 1M: -19.21%
• YTD: 10.08%
• 6M: 28.26%
• 1Y: 125.16%
• 3Y*: 49.66%
• 5Y*: 23.75%
• 10Y*: 17.88%

VAW

• 1D: 1.35%
• 1M: -5.90%
• YTD: 10.45%
• 6M: 13.21%
• 1Y: 22.50%
• 3Y*: 10.54%
• 5Y*: 7.38%
• 10Y*: 10.70%

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

GDXJ vs. VAW - Expense Ratio Comparison

GDXJ has a 0.54% expense ratio, which is higher than VAW's 0.10% expense ratio.

GDXJ

VanEck Vectors Junior Gold Miners ETF

VAW

Vanguard Materials ETF

Return for Risk

GDXJ vs. VAW — Risk / Return Rank

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

GDXJ

GDXJ Risk / Return Rank: 92
GDXJ Sharpe Ratio Rank: 95
GDXJ Sortino Ratio Rank: 90
GDXJ Omega Ratio Rank: 89
GDXJ Calmar Ratio Rank: 94
GDXJ Martin Ratio Rank: 92

VAW

VAW Risk / Return Rank: 57
VAW Sharpe Ratio Rank: 57
VAW Sortino Ratio Rank: 60
VAW Omega Ratio Rank: 52
VAW Calmar Ratio Rank: 60
VAW Martin Ratio Rank: 54

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. VAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Junior Gold Miners ETF (GDXJ) and Vanguard Materials ETF (VAW). 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	VAW	Difference
Sharpe ratio Return per unit of total volatility	2.47	1.06	+1.42
Sortino ratio Return per unit of downside risk	2.63	1.59	+1.04
Omega ratio Gain probability vs. loss probability	1.38	1.21	+0.17
Calmar ratio Return relative to maximum drawdown	3.77	1.60	+2.17
Martin ratio Return relative to average drawdown	13.05	5.48	+7.57
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. VAW - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 2.47, which is higher than the VAW Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of GDXJ and VAW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GDXJ	VAW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	1.06	+1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.38	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.51	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.39	-0.31

Correlation

The correlation between GDXJ and VAW is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GDXJ vs. VAW - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.12%, more than VAW's 1.40% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Vectors Junior Gold Miners ETF	2.12%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
VAW Vanguard Materials ETF	1.40%	1.55%	1.70%	1.72%	1.98%	1.44%	1.67%	1.94%	2.03%	1.63%	1.67%	2.30%

Drawdowns

GDXJ vs. VAW - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than VAW's maximum drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for GDXJ and VAW.

Drawdown Indicators

	GDXJ	VAW	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-62.17%	-26.49%
Max Drawdown (1Y) Largest decline over 1 year	-32.92%	-14.33%	-18.59%
Max Drawdown (5Y) Largest decline over 5 years	-51.76%	-25.50%	-26.26%
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	-41.13%	-16.64%
Current Drawdown Current decline from peak	-19.81%	-6.10%	-13.71%
Average Drawdown Average peak-to-trough decline	-60.90%	-9.67%	-51.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.51%	4.17%	+5.34%

Volatility

GDXJ vs. VAW - Volatility Comparison

VanEck Vectors Junior Gold Miners ETF (GDXJ) has a higher volatility of 19.46% compared to Vanguard Materials ETF (VAW) at 6.71%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier than VAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXJ	VAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.46%	6.71%	+12.75%
Volatility (6M) Calculated over the trailing 6-month period	42.52%	13.38%	+29.14%
Volatility (1Y) Calculated over the trailing 1-year period	50.91%	21.41%	+29.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.57%	19.57%	+21.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.46%	21.14%	+23.32%