REMX vs. SLX

Last updated Jun 4, 2026

REMX (VanEck Vectors Rare Earth/Strategic Metals ETF) and SLX (VanEck Vectors Steel ETF) are both Materials funds from VanEck - REMX tracks the MVIS Global Rare Earth/Strategic Metals Index while SLX tracks the NYSE Arca Steel Index. Both are passively managed. Over the past 10 years, REMX returned 10.14%/yr vs 19.73%/yr for SLX. A 0.63 correlation means they provide meaningful diversification when combined. REMX charges 0.59%/yr vs 0.56%/yr for SLX.

Performance

REMX vs. SLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) and VanEck Vectors Steel ETF (SLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with REMX having a 33.01% return and SLX slightly lower at 32.29%. Over the past 10 years, REMX has underperformed SLX with an annualized return of 10.14%, while SLX has yielded a comparatively higher 19.73% annualized return.

REMX

• 1D: -3.78%
• 1M: -3.72%
• YTD: 33.01%
• 6M: 37.14%
• 1Y: 172.35%
• 3Y*: 6.84%
• 5Y*: 4.50%
• 10Y*: 10.14%

SLX

• 1D: -1.15%
• 1M: 9.68%
• YTD: 32.29%
• 6M: 36.55%
• 1Y: 77.34%
• 3Y*: 26.67%
• 5Y*: 16.14%
• 10Y*: 19.73%

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

REMX vs. SLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
REMX VanEck Vectors Rare Earth/Strategic Metals ETF	33.01%	92.95%	-35.02%	-19.18%	-31.13%	79.81%	64.82%	0.74%	-49.63%	82.60%
SLX VanEck Vectors Steel ETF	32.29%	47.45%	-17.94%	31.25%	14.28%	27.69%	20.57%	12.01%	-19.27%	24.59%

Correlation

The correlation between REMX and SLX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 29, 2010	0.63

The correlation between REMX and SLX shifts across timeframes, from 0.51 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

REMX vs. SLX - Sectors Allocation Comparison

Sectors	REMX	SLX
Basic Materials	100.0%	95.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	3.5%
Financial Services	-	-
Healthcare	-	-
Industrials	-	1.4%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

REMX vs. SLX — Risk / Return Rank

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

REMX

REMX Risk / Return Rank: 87
REMX Sharpe Ratio Rank: 93
REMX Sortino Ratio Rank: 80
REMX Omega Ratio Rank: 75
REMX Calmar Ratio Rank: 94
REMX Martin Ratio Rank: 90

SLX

SLX Risk / Return Rank: 86
SLX Sharpe Ratio Rank: 91
SLX Sortino Ratio Rank: 88
SLX Omega Ratio Rank: 84
SLX Calmar Ratio Rank: 85
SLX Martin Ratio Rank: 82

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.

REMX vs. SLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) and VanEck Vectors Steel ETF (SLX). 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.

	REMX	SLX	Difference
Sharpe ratio Return per unit of total volatility	3.61	3.25	+0.36
Sortino ratio Return per unit of downside risk	3.66	4.05	-0.39
Omega ratio Gain probability vs. loss probability	1.46	1.52	-0.06
Calmar ratio Return relative to maximum drawdown	7.43	4.76	+2.67
Martin ratio Return relative to average drawdown	21.32	16.63	+4.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

REMX vs. SLX - Sharpe Ratio Comparison

The current REMX Sharpe Ratio is 3.61, which is comparable to the SLX Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of REMX and SLX, 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

	REMX	SLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.61	3.25	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.59	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.64	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.22	-0.30

Drawdowns

REMX vs. SLX - Drawdown Comparison

The maximum REMX drawdown since its inception was -90.20%, which is greater than SLX's maximum drawdown of -82.14%. Use the drawdown chart below to compare losses from any high point for REMX and SLX.

Drawdown Indicators

	REMX	SLX	Difference
Max Drawdown Largest peak-to-trough decline	-90.20%	-82.14%	-8.06%
Max Drawdown (1Y) Largest decline over 1 year	-23.35%	-16.35%	-7.00%
Max Drawdown (3Y) Largest decline over 3 years	-62.11%	-27.39%	-34.72%
Max Drawdown (5Y) Largest decline over 5 years	-73.34%	-33.62%	-39.72%
Max Drawdown (10Y) Largest decline over 10 years	-73.34%	-61.64%	-11.70%
Current Drawdown Current decline from peak	-54.98%	-1.15%	-53.83%
Average Drawdown Average peak-to-trough decline	-66.87%	-38.73%	-28.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.12%	4.67%	+3.45%

Volatility

REMX vs. SLX - Volatility Comparison

VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) has a higher volatility of 13.02% compared to VanEck Vectors Steel ETF (SLX) at 7.87%. This indicates that REMX's price experiences larger fluctuations and is considered to be riskier than SLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REMX	SLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.02%	7.87%	+5.15%
Volatility (6M) Calculated over the trailing 6-month period	34.77%	17.92%	+16.85%
Volatility (1Y) Calculated over the trailing 1-year period	48.11%	23.92%	+24.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.24%	27.72%	+12.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.94%	31.02%	+5.92%

REMX vs. SLX - Expense Ratio Comparison

REMX has a 0.59% expense ratio, which is higher than SLX's 0.56% expense ratio.

Dividends

REMX vs. SLX - Dividend Comparison

REMX's dividend yield for the trailing twelve months is around 1.32%, more than SLX's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REMX VanEck Vectors Rare Earth/Strategic Metals ETF	1.32%	1.76%	2.56%	0.00%	1.56%	5.25%	0.81%	1.64%	12.43%	2.89%	2.23%	4.77%
SLX VanEck Vectors Steel ETF	1.17%	1.55%	3.56%	2.80%	4.97%	7.07%	1.87%	3.44%	6.26%	2.50%	1.06%	5.35%

Frequently Asked Questions

Can I hold both REMX and SLX in my portfolio?

REMX and SLX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REMX or SLX?

REMX has higher volatility (13.02%) compared to SLX (7.87%). In terms of maximum drawdown, REMX dropped -90.20% vs SLX's -82.14%.

Which ETF is better, REMX or SLX?

On 10-year performance, SLX leads with 19.73% vs 10.14% for REMX. On fees, SLX is cheaper at 0.56% per year. On volatility, SLX has been the lower-risk option at 7.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, REMX or SLX?

Over the 10-year period, SLX has performed better with a 19.73% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, REMX or SLX?

SLX is cheaper with a 0.56% expense ratio, compared with 0.59% for REMX.

Which ETF pays a higher dividend yield, REMX or SLX?

REMX has the higher dividend yield at 1.32%, compared with 1.17% for SLX.

What is the main difference between REMX and SLX?

REMX tracks MVIS Global Rare Earth/Strategic Metals Index, while SLX tracks NYSE Arca Steel Index. Their fees differ too: 0.59% for REMX and 0.56% for SLX.

Which has better risk-adjusted returns?

REMX currently has the higher Sharpe Ratio (3.61 vs 3.25), 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.