RING vs. GDX
Compare and contrast key facts about iShares MSCI Global Gold Miners ETF (RING) and VanEck Vectors Gold Miners ETF (GDX).
RING and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RING is a passively managed fund by iShares that tracks the performance of the MSCI ACWI Select Gold Miners Investable Market Index. It was launched on Jan 31, 2012. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners Index. It was launched on May 22, 2006. Both RING and GDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RING or GDX.
Key characteristics
| RING | GDX | |
|---|---|---|
| YTD Return | 12.98% | 11.51% |
| 1Y Return | 8.00% | 3.83% |
| 3Y Return (Ann) | 0.29% | 1.00% |
| 5Y Return (Ann) | 12.56% | 11.58% |
| 10Y Return (Ann) | 4.27% | 4.57% |
| Sharpe Ratio | 0.31 | 0.18 |
| Daily Std Dev | 30.03% | 30.38% |
| Max Drawdown | -79.47% | -80.57% |
| Current Drawdown | -37.88% | -41.69% |
Correlation
The correlation between RING and GDX is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
RING vs. GDX - Performance Comparison
In the year-to-date period, RING achieves a 12.98% return, which is significantly higher than GDX's 11.51% return. Over the past 10 years, RING has underperformed GDX with an annualized return of 4.27%, while GDX has yielded a comparatively higher 4.57% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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RING vs. GDX - Expense Ratio Comparison
RING has a 0.39% expense ratio, which is lower than GDX's 0.53% expense ratio.
Risk-Adjusted Performance
RING vs. GDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Gold Miners ETF (RING) and VanEck Vectors Gold Miners ETF (GDX). 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.
Dividends
RING vs. GDX - Dividend Comparison
RING's dividend yield for the trailing twelve months is around 1.78%, more than GDX's 1.45% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RING iShares MSCI Global Gold Miners ETF | 1.78% | 2.01% | 2.29% | 2.38% | 0.83% | 0.83% | 0.70% | 0.42% | 1.41% | 0.96% | 0.85% | 1.48% |
GDX VanEck Vectors Gold Miners ETF | 1.45% | 1.61% | 1.66% | 1.67% | 0.53% | 0.65% | 0.50% | 0.76% | 0.26% | 0.85% | 0.66% | 0.90% |
Drawdowns
RING vs. GDX - Drawdown Comparison
The maximum RING drawdown since its inception was -79.47%, roughly equal to the maximum GDX drawdown of -80.57%. Use the drawdown chart below to compare losses from any high point for RING and GDX. For additional features, visit the drawdowns tool.
Volatility
RING vs. GDX - Volatility Comparison
iShares MSCI Global Gold Miners ETF (RING) and VanEck Vectors Gold Miners ETF (GDX) have volatilities of 8.55% and 8.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.