GOEX vs. URA

Last updated Aug 2, 2026

GOEX (Global X Gold Explorers ETF) and URA (Global X Uranium ETF) are both exchange-traded funds - GOEX is a Gold fund tracking the Solactive Global Gold Explorers & Developers Total Return, while URA is a Uranium fund tracking the Solactive Global Uranium & Nuclear Components Total Return Index. Both are passively managed. Over the past 10 years, GOEX returned 9.57%/yr vs 14.85%/yr for URA. Their 0.40 correlation means their historical movements had little consistent relationship. GOEX charges 0.65%/yr vs 0.69%/yr for URA.

Performance

GOEX vs. URA - Performance Comparison

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

Returns By Period

In the year-to-date period, GOEX achieves a -14.85% return, which is significantly lower than URA's -8.57% return. Over the past 10 years, GOEX has underperformed URA with an annualized return of 9.57%, while URA has yielded a comparatively higher 14.85% annualized return.

GOEX

• 1D: -3.78%
• 1M: -5.18%
• 6M: -20.91%
• YTD: -14.85%
• 1Y: 60.99%
• 3Y*: 42.10%
• 5Y*: 19.04%
• 10Y*: 9.57%
• ALL TIME*: 0.24%

URA

• 1D: -1.64%
• 1M: -9.62%
• 6M: -28.95%
• YTD: -8.57%
• 1Y: 7.10%
• 3Y*: 25.57%
• 5Y*: 18.90%
• 10Y*: 14.85%
• ALL TIME*: -3.36%

*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)
GOEX Global X Gold Explorers ETF	$302.55K	$389.74K	$635.93K
URA Global X Uranium ETF	$122.45M	$118.35M	$170.14M

GOEX vs. URA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOEX Global X Gold Explorers ETF	-14.85%	179.50%	19.38%	1.99%	-14.63%	-14.45%	34.98%	36.73%	-14.84%	12.61%
URA Global X Uranium ETF	-8.57%	67.18%	-0.58%	46.25%	-11.32%	57.57%	41.33%	-3.54%	-22.11%	19.36%

Correlation

The correlation between GOEX and URA is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.45
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (10Y) Provides a long-term view across more market conditions.	0.40
Correlation (All Time) Calculated using the full available price history since Nov 5, 2010	0.40

The correlation between GOEX and URA shifts across timeframes, from 0.40 (10 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.

GOEX vs. URA - Sectors Allocation Comparison

Sectors	GOEX	URA
Basic Materials	100.0%	4.9%
Industrials	0.1%	21.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	58.7%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	0.9%
Utilities	-	7.1%

Return for Risk

GOEX vs. URA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GOEX

GOEX Risk / Return Rank: 44
GOEX Sharpe Ratio Rank: 48
GOEX Sortino Ratio Rank: 45
GOEX Omega Ratio Rank: 47
GOEX Calmar Ratio Rank: 44
GOEX Martin Ratio Rank: 34

URA

URA Risk / Return Rank: 14
URA Sharpe Ratio Rank: 13
URA Sortino Ratio Rank: 16
URA Omega Ratio Rank: 16
URA Calmar Ratio Rank: 12
URA Martin Ratio Rank: 12

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.

GOEX vs. URA - Risk-Adjusted Trends Comparison

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

	GOEX	URA	Difference
Sharpe ratio: Return per unit of total volatility	1.18	0.08	+1.10
Sortino ratio: Return per unit of downside risk	1.64	0.49	+1.15
Omega ratio: Gain probability vs. loss probability	1.22	1.06	+0.16
Calmar ratio: Return relative to maximum drawdown	1.56	0.10	+1.46
Martin ratio: Return relative to average drawdown	3.27	0.22	+3.05

GOEX vs. URA - Sharpe Ratio Comparison

The current GOEX Sharpe Ratio is 1.18, which is higher than the URA Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of GOEX and URA, 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

GOEX vs. URA - Drawdown Comparison

The maximum GOEX drawdown since its inception was -88.83%, smaller than the maximum URA drawdown of -93.54%. Use the drawdown chart below to compare losses from any high point for GOEX and URA.

Drawdown Indicators

	GOEX	URA	Difference
Max Drawdown Largest peak-to-trough decline	-88.83%	-93.54%	+4.71%
Max Drawdown (1Y) Largest decline over 1 year	-39.87%	-39.30%	-0.57%
Max Drawdown (3Y) Largest decline over 3 years	-39.87%	-39.30%	-0.57%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-39.30%	-7.86%
Max Drawdown (10Y) Largest decline over 10 years	-53.66%	-61.45%	+7.79%
Current Drawdown Current decline from peak	-37.16%	-55.66%	+18.50%
Average Drawdown Average peak-to-trough decline	-63.28%	-74.75%	+11.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.02%	18.11%	+0.91%

Volatility

GOEX vs. URA - Volatility Comparison

Global X Gold Explorers ETF (GOEX) has a higher volatility of 14.97% compared to Global X Uranium ETF (URA) at 13.54%. This indicates that GOEX's price experiences larger fluctuations and is considered to be riskier than URA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOEX	URA	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.97%	13.54%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	42.64%	38.35%	+4.29%
Volatility (1Y) Calculated over the trailing 1-year period	52.89%	52.24%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.03%	44.10%	-4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.14%	38.10%	+2.04%

GOEX vs. URA - Expense Ratio Comparison

GOEX has a 0.65% expense ratio, which is lower than URA's 0.69% expense ratio.

Dividends

GOEX vs. URA - Dividend Comparison

GOEX's dividend yield for the trailing twelve months is around 2.58%, less than URA's 5.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOEX Global X Gold Explorers ETF	2.58%	2.08%	2.46%	0.05%	1.04%	2.35%	2.62%	1.60%	0.00%	0.00%	38.91%	11.70%
URA Global X Uranium ETF	5.33%	4.88%	2.86%	6.07%	0.76%	5.84%	1.69%	1.66%	0.44%	2.03%	7.28%	1.96%

Frequently Asked Questions

Can I hold both GOEX and URA in my portfolio?

GOEX and URA have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOEX or URA?

GOEX has higher volatility (14.97%) compared to URA (13.54%). In terms of maximum drawdown, GOEX dropped -88.83% vs URA's -93.54%.

Which ETF is better, GOEX or URA?

On 10-year performance, URA leads with 14.85% vs 9.57% for GOEX. On fees, GOEX is cheaper at 0.65% per year. On volatility, URA has been the lower-risk option at 13.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOEX or URA?

Over the 10-year period, URA has performed better with a 14.85% return vs 9.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOEX or URA?

GOEX is cheaper with a 0.65% expense ratio, compared with 0.69% for URA.

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

URA has the higher dividend yield at 5.33%, compared with 2.58% for GOEX.

What is the main difference between GOEX and URA?

GOEX is categorized as Gold, while URA is Uranium. GOEX tracks Solactive Global Gold Explorers & Developers Total Return, while URA tracks Solactive Global Uranium & Nuclear Components Total Return Index. Their fees differ too: 0.65% for GOEX and 0.69% for URA.

Which has better risk-adjusted returns?

GOEX currently has the higher Sharpe Ratio (1.18 vs 0.08), 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.