PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QUAL.AX vs. GDX.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QUAL.AX vs. GDX.AX

Last updated Jul 16, 2026
Documentation

QUAL.AX (Vaneck Msci International Quality Etf) and GDX.AX (VanEck Gold Miners ETF) are both exchange-traded funds - QUAL.AX is a Global Equities fund tracking the Vaneck Msci International Quality Index, while GDX.AX is a Commodity Producers Equities fund tracking the VanEck Gold Miners Index. Both are passively managed. Over the past 10 years, QUAL.AX returned 15.31%/yr vs 11.49%/yr for GDX.AX. At a correlation of -0.02, they often move in opposite directions.

Performance

QUAL.AX vs. GDX.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vaneck Msci International Quality Etf (QUAL.AX) and VanEck Gold Miners ETF (GDX.AX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, QUAL.AX achieves a 4.12% return, which is significantly higher than GDX.AX's -17.99% return. Over the past 10 years, QUAL.AX has outperformed GDX.AX with an annualized return of 15.31%, while GDX.AX has yielded a comparatively lower 11.49% annualized return.

QUAL.AX

1D
0.14%
1M
2.01%
6M
2.38%
YTD
4.12%
1Y
12.10%
3Y*
16.36%
5Y*
12.11%
10Y*
15.31%

GDX.AX

1D
-0.71%
1M
-10.41%
6M
-27.13%
YTD
-17.99%
1Y
34.35%
3Y*
33.43%
5Y*
19.55%
10Y*
11.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QUAL.AX vs. GDX.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QUAL.AX
Vaneck Msci International Quality Etf		4.12%8.12%30.61%30.52%-16.97%33.99%11.23%36.86%3.26%16.10%
GDX.AX
VanEck Gold Miners ETF		-17.99%143.80%19.59%10.67%-1.08%-8.19%13.31%45.23%-1.28%-1.16%

Correlation

The correlation between QUAL.AX and GDX.AX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.19

Correlation (3Y)
Calculated over the trailing 3-year period

0.08

Correlation (5Y)
Calculated over the trailing 5-year period

0.07

Correlation (10Y)
Calculated over the trailing 10-year period

-0.00

Correlation (All Time)
Calculated using the full available price history since Jun 24, 2015

-0.02

The correlation between QUAL.AX and GDX.AX shifts across timeframes, from -0.02 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vaneck Msci International Quality Etf

VanEck Gold Miners ETF

Return for Risk

QUAL.AX vs. GDX.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QUAL.AX
QUAL.AX Risk / Return Rank: 3737
Overall Rank
QUAL.AX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
QUAL.AX Sortino Ratio Rank: 4242
Sortino Ratio Rank
QUAL.AX Omega Ratio Rank: 4141
Omega Ratio Rank
QUAL.AX Calmar Ratio Rank: 2828
Calmar Ratio Rank
QUAL.AX Martin Ratio Rank: 3030
Martin Ratio Rank
GDX.AX
GDX.AX Risk / Return Rank: 2525
Overall Rank
GDX.AX Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
GDX.AX Sortino Ratio Rank: 2626
Sortino Ratio Rank
GDX.AX Omega Ratio Rank: 2727
Omega Ratio Rank
GDX.AX Calmar Ratio Rank: 2424
Calmar Ratio Rank
GDX.AX Martin Ratio Rank: 2121
Martin Ratio Rank
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.

QUAL.AX vs. GDX.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vaneck Msci International Quality Etf (QUAL.AX) and VanEck Gold Miners ETF (GDX.AX). 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.

QUAL.AXGDX.AXDifference
Sharpe ratioReturn per unit of total volatility
1.23
0.77

+0.46

Sortino ratioReturn per unit of downside risk
1.81
1.24

+0.57

Omega ratioGain probability vs. loss probability

1.23

1.16

+0.07

Calmar ratioReturn relative to maximum drawdown

1.17

0.95

+0.22

Martin ratioReturn relative to average drawdown

3.51

2.05

+1.47

QUAL.AX vs. GDX.AX - Sharpe Ratio Comparison

The current QUAL.AX Sharpe Ratio is 1.23, which is higher than the GDX.AX Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of QUAL.AX and GDX.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

QUAL.AX vs. GDX.AX - Drawdown Comparison

The maximum QUAL.AX drawdown since its inception was -24.52%, smaller than the maximum GDX.AX drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for QUAL.AX and GDX.AX.

Loading charts...

Drawdown Indicators

QUAL.AXGDX.AXDifference

Max Drawdown

Largest peak-to-trough decline

-24.52%

-45.51%

+20.99%

Max Drawdown (1Y)

Largest decline over 1 year

-10.55%

-36.27%

+25.72%

Max Drawdown (3Y)

Largest decline over 3 years

-14.65%

-36.27%

+21.62%

Max Drawdown (5Y)

Largest decline over 5 years

-24.52%

-38.41%

+13.89%

Max Drawdown (10Y)

Largest decline over 10 years

-24.52%

-45.51%

+20.99%

Current Drawdown

Current decline from peak

-0.87%

-36.27%

+35.40%

Average Drawdown

Average peak-to-trough decline

-4.33%

-19.69%

+15.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

17.14%

-13.58%

Volatility

QUAL.AX vs. GDX.AX - Volatility Comparison

The current volatility for Vaneck Msci International Quality Etf (QUAL.AX) is 2.52%, while VanEck Gold Miners ETF (GDX.AX) has a volatility of 11.80%. This indicates that QUAL.AX experiences smaller price fluctuations and is considered to be less risky than GDX.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

QUAL.AXGDX.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.52%

11.80%

-9.28%

Volatility (6M)

Calculated over the trailing 6-month period

7.96%

36.98%

-29.02%

Volatility (1Y)

Calculated over the trailing 1-year period

10.03%

44.45%

-34.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.94%

32.60%

-18.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.50%

33.49%

-18.99%

Dividends

QUAL.AX vs. GDX.AX - Dividend Comparison

QUAL.AX's dividend yield for the trailing twelve months is around 3.47%, less than GDX.AX's 19.79% yield.

PositionTTM20252024202320222021202020192018201720162015
GDX.AX
VanEck Gold Miners ETF		19.79%0.48%1.35%3.05%0.00%0.00%0.45%0.55%0.87%0.00%0.39%1.33%
QUAL.AX
Vaneck Msci International Quality Etf		3.47%1.99%4.51%1.06%1.10%0.86%1.05%1.35%1.86%2.90%2.16%1.69%

Frequently Asked Questions

QUAL.AX and GDX.AX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QUAL.AX is categorized as Global Equities, while GDX.AX is Commodity Producers Equities. QUAL.AX tracks Vaneck Msci International Quality Index, while GDX.AX tracks VanEck Gold Miners Index.

Portfolio Optimizer

Find the right allocation for QUAL.AX and GDX.AX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer