GLIN vs. GDX
GLIN (VanEck Vectors India Growth Leaders ETF) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - GLIN is a Asia Pacific Equities fund tracking the MarketGrader India All-Cap Growth Leaders Index, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 10 years, GLIN returned 2.82%/yr vs 12.36%/yr for GDX. At a 0.20 correlation, their price movements are largely independent. GLIN charges 0.82%/yr vs 0.51%/yr for GDX.
Performance
GLIN vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, GLIN achieves a 1.48% return, which is significantly higher than GDX's -9.46% return. Over the past 10 years, GLIN has underperformed GDX with an annualized return of 2.82%, while GDX has yielded a comparatively higher 12.36% annualized return.
GLIN
- 1D
- -2.40%
- 1M
- 4.54%
- YTD
- 1.48%
- 6M
- 0.11%
- 1Y
- 0.38%
- 3Y*
- 11.98%
- 5Y*
- 5.66%
- 10Y*
- 2.82%
GDX
- 1D
- -4.64%
- 1M
- -8.66%
- YTD
- -9.46%
- 6M
- -13.97%
- 1Y
- 47.29%
- 3Y*
- 39.25%
- 5Y*
- 19.30%
- 10Y*
- 12.36%
GLIN vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLIN VanEck Vectors India Growth Leaders ETF | 1.48% | -5.47% | 15.64% | 36.13% | -21.46% | 29.57% | -0.29% | -21.49% | -37.41% | 66.53% |
GDX VanEck Gold Miners ETF | -9.46% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between GLIN and GDX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010 | 0.20 |
The correlation between GLIN and GDX shifts across timeframes, from 0.20 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLIN vs. GDX — Risk / Return Rank
GLIN
GDX
GLIN vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors India Growth Leaders ETF (GLIN) and VanEck Gold Miners ETF (GDX). 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.
| GLIN | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.20 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 1.31 | -1.29 |
| Martin ratioReturn relative to average drawdown | 0.06 | 3.44 | -3.38 |
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Drawdowns
GLIN vs. GDX - Drawdown Comparison
The maximum GLIN drawdown since its inception was -79.36%, roughly equal to the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for GLIN and GDX.
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Drawdown Indicators
| GLIN | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.36% | -80.34% | +0.98% |
Max Drawdown (1Y)Largest decline over 1 year | -18.56% | -36.28% | +17.72% |
Max Drawdown (3Y)Largest decline over 3 years | -26.77% | -36.28% | +9.51% |
Max Drawdown (5Y)Largest decline over 5 years | -30.97% | -46.51% | +15.54% |
Max Drawdown (10Y)Largest decline over 10 years | -74.80% | -49.79% | -25.01% |
Current DrawdownCurrent decline from peak | -42.32% | -32.96% | -9.36% |
Average DrawdownAverage peak-to-trough decline | -50.93% | -40.40% | -10.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.38% | 13.78% | -7.40% |
Volatility
GLIN vs. GDX - Volatility Comparison
The current volatility for VanEck Vectors India Growth Leaders ETF (GLIN) is 6.25%, while VanEck Gold Miners ETF (GDX) has a volatility of 17.61%. This indicates that GLIN experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLIN | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 17.61% | -11.36% |
Volatility (6M)Calculated over the trailing 6-month period | 15.84% | 40.05% | -24.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.07% | 47.64% | -29.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.32% | 36.89% | -18.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.67% | 37.37% | -13.70% |
GLIN vs. GDX - Expense Ratio Comparison
GLIN has a 0.82% expense ratio, which is higher than GDX's 0.51% expense ratio.
Dividends
GLIN vs. GDX - Dividend Comparison
GLIN's dividend yield for the trailing twelve months is around 0.83%, more than GDX's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 0.82% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
GLIN VanEck Vectors India Growth Leaders ETF | 0.83% | 0.84% | 3.58% | 0.96% | 1.70% | 0.00% | 0.24% | 1.42% | 0.12% | 0.10% | 1.39% | 3.11% |
Frequently Asked Questions
GLIN and GDX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (17.61%) compared to GLIN (6.25%). In terms of maximum drawdown, GLIN dropped -79.36% vs GDX's -80.34%.
On 10-year performance, GDX leads with 12.36% vs 2.82% for GLIN. On fees, GDX is cheaper at 0.51% per year. On volatility, GLIN has been the lower-risk option at 6.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GDX has performed better with a 12.36% return vs 2.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDX is cheaper with a 0.51% expense ratio, compared with 0.82% for GLIN.
GLIN and GDX have nearly identical dividend yields, around 0.83%.
GLIN is categorized as Asia Pacific Equities, while GDX is Gold. GLIN tracks MarketGrader India All-Cap Growth Leaders Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. Their fees differ too: 0.82% for GLIN and 0.51% for GDX.
GDX currently has the higher Sharpe Ratio (1.00 vs 0.02), 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.
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