GOEX vs. GFI

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Gold Explorers ETF (GOEX) and Gold Fields Limited (GFI).

GOEX is a passively managed fund by Global X that tracks the performance of the Solactive Global Gold Explorers & Developers Total Return. It was launched on Nov 3, 2010.

Performance

GOEX vs. GFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Gold Explorers ETF (GOEX) and Gold Fields Limited (GFI). The values are adjusted to include any dividend payments, if applicable.

GOEX vs. GFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOEX Global X Gold Explorers ETF	10.58%	179.50%	19.38%	1.99%	-14.63%	-14.45%	34.98%	36.73%	-14.84%	12.61%
GFI Gold Fields Limited	13.45%	240.42%	-6.27%	44.90%	-2.61%	23.33%	43.02%	89.47%	-16.75%	45.29%

Returns By Period

In the year-to-date period, GOEX achieves a 10.58% return, which is significantly lower than GFI's 13.45% return. Over the past 10 years, GOEX has underperformed GFI with an annualized return of 20.19%, while GFI has yielded a comparatively higher 31.70% annualized return.

GOEX

• 1D: 5.30%
• 1M: -18.39%
• YTD: 10.58%
• 6M: 31.90%
• 1Y: 142.11%
• 3Y*: 49.82%
• 5Y*: 26.17%
• 10Y*: 20.19%

GFI

• 1D: 6.01%
• 1M: -14.48%
• YTD: 13.45%
• 6M: 18.67%
• 1Y: 119.94%
• 3Y*: 58.55%
• 5Y*: 41.26%
• 10Y*: 31.70%

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

Return for Risk

GOEX vs. GFI — Risk / Return Rank

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

GOEX

GOEX Risk / Return Rank: 94
GOEX Sharpe Ratio Rank: 97
GOEX Sortino Ratio Rank: 93
GOEX Omega Ratio Rank: 92
GOEX Calmar Ratio Rank: 95
GOEX Martin Ratio Rank: 94

GFI

GFI Risk / Return Rank: 87
GFI Sharpe Ratio Rank: 90
GFI Sortino Ratio Rank: 83
GFI Omega Ratio Rank: 83
GFI Calmar Ratio Rank: 89
GFI Martin Ratio Rank: 91

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.

GOEX vs. GFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Explorers ETF (GOEX) and Gold Fields Limited (GFI). 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.

	GOEX	GFI	Difference
Sharpe ratio Return per unit of total volatility	2.83	1.98	+0.85
Sortino ratio Return per unit of downside risk	2.88	2.31	+0.57
Omega ratio Gain probability vs. loss probability	1.41	1.32	+0.10
Calmar ratio Return relative to maximum drawdown	4.25	3.66	+0.60
Martin ratio Return relative to average drawdown	14.99	11.55	+3.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOEX vs. GFI - Sharpe Ratio Comparison

The current GOEX Sharpe Ratio is 2.83, which is higher than the GFI Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of GOEX and GFI, 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

	GOEX	GFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	1.98	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.80	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.57	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.15	-0.11

Correlation

The correlation between GOEX and GFI is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GOEX vs. GFI - Dividend Comparison

GOEX's dividend yield for the trailing twelve months is around 1.88%, less than GFI's 3.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOEX Global X Gold Explorers ETF	1.88%	2.08%	2.46%	0.05%	1.04%	2.35%	2.62%	1.60%	0.00%	0.00%	38.91%	11.70%
GFI Gold Fields Limited	3.83%	1.77%	2.94%	2.87%	3.40%	3.24%	1.72%	0.81%	1.61%	1.41%	1.35%	0.60%

Drawdowns

GOEX vs. GFI - Drawdown Comparison

The maximum GOEX drawdown since its inception was -88.83%, roughly equal to the maximum GFI drawdown of -88.05%. Use the drawdown chart below to compare losses from any high point for GOEX and GFI.

Drawdown Indicators

	GOEX	GFI	Difference
Max Drawdown Largest peak-to-trough decline	-88.83%	-88.05%	-0.78%
Max Drawdown (1Y) Largest decline over 1 year	-32.78%	-34.63%	+1.85%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-56.22%	+9.06%
Max Drawdown (10Y) Largest decline over 10 years	-53.66%	-63.09%	+9.43%
Current Drawdown Current decline from peak	-18.39%	-19.47%	+1.08%
Average Drawdown Average peak-to-trough decline	-64.05%	-44.43%	-19.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	10.97%	-1.67%

Volatility

GOEX vs. GFI - Volatility Comparison

The current volatility for Global X Gold Explorers ETF (GOEX) is 18.88%, while Gold Fields Limited (GFI) has a volatility of 19.95%. This indicates that GOEX experiences smaller price fluctuations and is considered to be less risky than GFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOEX	GFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.88%	19.95%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	42.54%	48.31%	-5.77%
Volatility (1Y) Calculated over the trailing 1-year period	50.49%	61.00%	-10.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.58%	51.62%	-13.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.49%	55.33%	-14.84%