GOEX vs. SGDJ

Last updated Jun 5, 2026

GOEX (Global X Gold Explorers ETF) and SGDJ (Sprott Junior Gold Miners ETF) are both Materials funds - GOEX tracks the Solactive Global Gold Explorers & Developers Total Return while SGDJ tracks the Solactive Junior Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, GOEX returned 13.71%/yr vs 11.82%/yr for SGDJ. Their correlation of 0.92 suggests significant overlap in exposure. GOEX charges 0.65%/yr vs 0.50%/yr for SGDJ.

Performance

GOEX vs. SGDJ - Performance Comparison

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

Returns By Period

In the year-to-date period, GOEX achieves a -4.07% return, which is significantly lower than SGDJ's 2.34% return. Over the past 10 years, GOEX has outperformed SGDJ with an annualized return of 13.71%, while SGDJ has yielded a comparatively lower 11.82% annualized return.

GOEX

• 1D: 1.00%
• 1M: -2.91%
• YTD: -4.07%
• 6M: 4.68%
• 1Y: 63.90%
• 3Y*: 46.37%
• 5Y*: 19.07%
• 10Y*: 13.71%

SGDJ

• 1D: 0.37%
• 1M: -0.22%
• YTD: 2.34%
• 6M: 11.75%
• 1Y: 79.24%
• 3Y*: 49.70%
• 5Y*: 17.26%
• 10Y*: 11.82%

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

GOEX vs. SGDJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOEX Global X Gold Explorers ETF	-4.07%	179.50%	19.38%	1.99%	-14.63%	-14.45%	34.98%	36.73%	-14.84%	12.61%
SGDJ Sprott Junior Gold Miners ETF	2.34%	174.44%	19.35%	6.66%	-27.60%	-15.12%	47.91%	37.00%	-25.63%	5.94%

Correlation

The correlation between GOEX and SGDJ is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Apr 1, 2015	0.92

The correlation between GOEX and SGDJ has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

GOEX vs. SGDJ - Sectors Allocation Comparison

Sectors	GOEX	SGDJ
Basic Materials	100.0%	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GOEX vs. SGDJ — Risk / Return Rank

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

GOEX

GOEX Risk / Return Rank: 36
GOEX Sharpe Ratio Rank: 37
GOEX Sortino Ratio Rank: 33
GOEX Omega Ratio Rank: 37
GOEX Calmar Ratio Rank: 40
GOEX Martin Ratio Rank: 33

SGDJ

SGDJ Risk / Return Rank: 44
SGDJ Sharpe Ratio Rank: 49
SGDJ Sortino Ratio Rank: 40
SGDJ Omega Ratio Rank: 45
SGDJ Calmar Ratio Rank: 49
SGDJ Martin Ratio Rank: 40

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. SGDJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Explorers ETF (GOEX) and Sprott Junior Gold Miners ETF (SGDJ). 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	SGDJ	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.65	-0.34
Sortino ratio: Return per unit of downside risk	1.74	2.00	-0.26
Omega ratio: Gain probability vs. loss probability	1.24	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	1.96	2.40	-0.44
Martin ratio: Return relative to average drawdown	4.87	6.31	-1.44
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. SGDJ - Sharpe Ratio Comparison

The current GOEX Sharpe Ratio is 1.31, which is comparable to the SGDJ Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of GOEX and SGDJ, 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

	GOEX	SGDJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	1.65	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.43	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.29	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.36	-0.34

Drawdowns

GOEX vs. SGDJ - Drawdown Comparison

The maximum GOEX drawdown since its inception was -88.83%, which is greater than SGDJ's maximum drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for GOEX and SGDJ.

Drawdown Indicators

	GOEX	SGDJ	Difference
Max Drawdown Largest peak-to-trough decline	-88.83%	-59.27%	-29.56%
Max Drawdown (1Y) Largest decline over 1 year	-32.78%	-33.22%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-32.78%	-33.22%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-54.90%	+7.74%
Max Drawdown (10Y) Largest decline over 10 years	-53.66%	-59.27%	+5.61%
Current Drawdown Current decline from peak	-29.20%	-25.38%	-3.82%
Average Drawdown Average peak-to-trough decline	-63.58%	-26.25%	-37.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.17%	12.60%	+0.57%

Volatility

GOEX vs. SGDJ - Volatility Comparison

Global X Gold Explorers ETF (GOEX) has a higher volatility of 14.65% compared to Sprott Junior Gold Miners ETF (SGDJ) at 13.16%. This indicates that GOEX's price experiences larger fluctuations and is considered to be riskier than SGDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOEX	SGDJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.65%	13.16%	+1.49%
Volatility (6M) Calculated over the trailing 6-month period	39.88%	39.87%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	49.12%	48.32%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.00%	40.27%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.96%	40.73%	-0.77%

GOEX vs. SGDJ - Expense Ratio Comparison

GOEX has a 0.65% expense ratio, which is higher than SGDJ's 0.50% expense ratio.

Dividends

GOEX vs. SGDJ - Dividend Comparison

GOEX's dividend yield for the trailing twelve months is around 2.17%, less than SGDJ's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOEX Global X Gold Explorers ETF	2.17%	2.08%	2.46%	0.05%	1.04%	2.35%	2.62%	1.60%	0.00%	0.00%	38.91%	11.70%
SGDJ Sprott Junior Gold Miners ETF	8.18%	8.37%	6.55%	4.55%	2.46%	2.20%	1.97%	0.65%	0.00%	0.14%	1.77%	0.85%

Frequently Asked Questions

Can I hold both GOEX and SGDJ in my portfolio?

With a correlation of 0.94, GOEX and SGDJ 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, GOEX or SGDJ?

GOEX has higher volatility (14.65%) compared to SGDJ (13.16%). In terms of maximum drawdown, GOEX dropped -88.83% vs SGDJ's -59.27%.

Which ETF is better, GOEX or SGDJ?

On 10-year performance, GOEX leads with 13.71% vs 11.82% for SGDJ. On fees, SGDJ is cheaper at 0.50% per year. On volatility, SGDJ has been the lower-risk option at 13.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOEX or SGDJ?

Over the 10-year period, GOEX has performed better with a 13.71% return vs 11.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOEX or SGDJ?

SGDJ is cheaper with a 0.50% expense ratio, compared with 0.65% for GOEX.

Which ETF pays a higher dividend yield, GOEX or SGDJ?

SGDJ has the higher dividend yield at 8.18%, compared with 2.17% for GOEX.

What is the main difference between GOEX and SGDJ?

GOEX tracks Solactive Global Gold Explorers & Developers Total Return, while SGDJ tracks Solactive Junior Gold Miners Custom Factors Index. They also come from different issuers: Global X and Sprott. Their fees differ too: 0.65% for GOEX and 0.50% for SGDJ.

Which has better risk-adjusted returns?

SGDJ currently has the higher Sharpe Ratio (1.65 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.