NEM vs. GDXJ

Last updated Jul 29, 2026

NEM (Newmont Corporation) is a stock, while GDXJ (VanEck Junior Gold Miners ETF) is Gold fund tracking the MVIS Global Junior Gold Miners Index. Over the past 10 years, NEM returned 10.27%/yr vs 8.50%/yr for GDXJ. Their 0.80 correlation means they have sometimes moved together and sometimes differently.

Performance

NEM vs. GDXJ - Performance Comparison

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

Returns By Period

In the year-to-date period, NEM achieves a -7.94% return, which is significantly higher than GDXJ's -14.94% return. Over the past 10 years, NEM has outperformed GDXJ with an annualized return of 10.27%, while GDXJ has yielded a comparatively lower 8.50% annualized return.

NEM

• 1D: -2.09%
• 1M: -4.80%
• 6M: -27.62%
• YTD: -7.94%
• 1Y: 45.29%
• 3Y*: 32.09%
• 5Y*: 11.02%
• 10Y*: 10.27%
• ALL TIME*: 4.77%

GDXJ

• 1D: -2.24%
• 1M: -3.50%
• 6M: -34.35%
• YTD: -14.94%
• 1Y: 49.74%
• 3Y*: 40.93%
• 5Y*: 17.84%
• 10Y*: 8.50%
• ALL TIME*: 1.66%

*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)
GDXJ VanEck Junior Gold Miners ETF	$414.07M	$423.52M	$616.10M
NEM Newmont Corporation	$732.31M	$700.61M	$808.16M

NEM vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEM Newmont Corporation	-7.94%	172.82%	-7.83%	-8.76%	-20.77%	7.40%	40.28%	30.52%	-6.15%	10.91%
GDXJ VanEck Junior Gold Miners ETF	-14.94%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%

Correlation

The correlation between NEM and GDXJ is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.80

The correlation between NEM and GDXJ has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

Return for Risk

NEM vs. GDXJ — Risk / Return Rank

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

NEM

NEM Risk / Return Rank: 73
NEM Sharpe Ratio Rank: 76
NEM Sortino Ratio Rank: 70
NEM Omega Ratio Rank: 70
NEM Calmar Ratio Rank: 73
NEM Martin Ratio Rank: 73

GDXJ

GDXJ Risk / Return Rank: 35
GDXJ Sharpe Ratio Rank: 37
GDXJ Sortino Ratio Rank: 37
GDXJ Omega Ratio Rank: 39
GDXJ Calmar Ratio Rank: 34
GDXJ Martin Ratio Rank: 29

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.

NEM vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Newmont Corporation (NEM) and VanEck Junior Gold Miners ETF (GDXJ). 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.

	NEM	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	0.96	0.93	+0.03
Sortino ratio: Return per unit of downside risk	1.42	1.41	+0.01
Omega ratio: Gain probability vs. loss probability	1.19	1.19	0.00
Calmar ratio: Return relative to maximum drawdown	1.42	1.21	+0.21
Martin ratio: Return relative to average drawdown	3.19	2.63	+0.56

NEM vs. GDXJ - Sharpe Ratio Comparison

The current NEM Sharpe Ratio is 0.96, which is comparable to the GDXJ Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of NEM and GDXJ, 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

NEM vs. GDXJ - Drawdown Comparison

The maximum NEM drawdown since its inception was -81.30%, smaller than the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for NEM and GDXJ.

Drawdown Indicators

	NEM	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-81.30%	-88.66%	+7.36%
Max Drawdown (1Y) Largest decline over 1 year	-32.10%	-41.32%	+9.22%
Max Drawdown (3Y) Largest decline over 3 years	-36.57%	-41.32%	+4.75%
Max Drawdown (5Y) Largest decline over 5 years	-62.40%	-48.79%	-13.61%
Max Drawdown (10Y) Largest decline over 10 years	-62.40%	-57.77%	-4.63%
Current Drawdown Current decline from peak	-30.34%	-38.04%	+7.70%
Average Drawdown Average peak-to-trough decline	-41.33%	-60.27%	+18.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.23%	18.97%	-4.74%

Volatility

NEM vs. GDXJ - Volatility Comparison

The current volatility for Newmont Corporation (NEM) is 10.45%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 13.69%. This indicates that NEM experiences smaller price fluctuations and is considered to be less risky than GDXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEM	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.45%	13.69%	-3.24%
Volatility (6M) Calculated over the trailing 6-month period	37.44%	44.51%	-7.07%
Volatility (1Y) Calculated over the trailing 1-year period	47.37%	53.68%	-6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.29%	42.02%	-3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.71%	44.16%	-8.45%

Dividends

NEM vs. GDXJ - Dividend Comparison

NEM's dividend yield for the trailing twelve months is around 1.11%, less than GDXJ's 2.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.74%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
NEM Newmont Corporation	1.11%	1.00%	2.69%	3.87%	4.66%	3.55%	1.74%	3.31%	1.62%	0.67%	0.37%	0.56%

Frequently Asked Questions

Can I hold both NEM and GDXJ in my portfolio?

NEM and GDXJ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEM or GDXJ?

GDXJ has higher volatility (13.69%) compared to NEM (10.45%). In terms of maximum drawdown, NEM dropped -81.30% vs GDXJ's -88.66%.

Which has better risk-adjusted returns?

NEM currently has the higher Sharpe Ratio (0.96 vs 0.93), 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.