SGDJ vs. SLX

Last updated Jun 4, 2026

SGDJ (Sprott Junior Gold Miners ETF) and SLX (VanEck Vectors Steel ETF) are both Materials funds - SGDJ tracks the Solactive Junior Gold Miners Custom Factors Index while SLX tracks the NYSE Arca Steel Index. Both are passively managed. Over the past 10 years, SGDJ returned 11.97%/yr vs 19.73%/yr for SLX. At a 0.32 correlation, their price movements are largely independent. SGDJ charges 0.50%/yr vs 0.56%/yr for SLX.

Performance

SGDJ vs. SLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Gold Miners ETF (SGDJ) and VanEck Vectors Steel ETF (SLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGDJ achieves a 1.97% return, which is significantly lower than SLX's 32.29% return. Over the past 10 years, SGDJ has underperformed SLX with an annualized return of 11.97%, while SLX has yielded a comparatively higher 19.73% annualized return.

SGDJ

• 1D: -3.43%
• 1M: 0.20%
• YTD: 1.97%
• 6M: 12.36%
• 1Y: 80.74%
• 3Y*: 49.76%
• 5Y*: 17.17%
• 10Y*: 11.97%

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)

SGDJ vs. SLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGDJ Sprott Junior Gold Miners ETF	1.97%	174.44%	19.35%	6.66%	-27.60%	-15.12%	47.91%	37.00%	-25.63%	5.94%
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 SGDJ and SLX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Apr 1, 2015	0.32

The correlation between SGDJ and SLX shifts across timeframes, from 0.32 (10 years) to 0.46 (1 year), reflecting how their relationship changes across market environments.

SGDJ vs. SLX - Sectors Allocation Comparison

Sectors	SGDJ	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

SGDJ vs. SLX — Risk / Return Rank

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

SGDJ

SGDJ Risk / Return Rank: 44
SGDJ Sharpe Ratio Rank: 48
SGDJ Sortino Ratio Rank: 39
SGDJ Omega Ratio Rank: 43
SGDJ Calmar Ratio Rank: 49
SGDJ Martin Ratio Rank: 40

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.

SGDJ vs. SLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Gold Miners ETF (SGDJ) 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.

	SGDJ	SLX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	3.25	-1.57
Sortino ratio: Return per unit of downside risk	2.02	4.05	-2.03
Omega ratio: Gain probability vs. loss probability	1.28	1.52	-0.24
Calmar ratio: Return relative to maximum drawdown	2.44	4.76	-2.31
Martin ratio: Return relative to average drawdown	6.48	16.63	-10.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGDJ vs. SLX - Sharpe Ratio Comparison

The current SGDJ Sharpe Ratio is 1.68, which is lower than the SLX Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of SGDJ 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

	SGDJ	SLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	3.25	-1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.59	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.64	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.22	+0.14

Drawdowns

SGDJ vs. SLX - Drawdown Comparison

The maximum SGDJ drawdown since its inception was -59.27%, smaller than the maximum SLX drawdown of -82.14%. Use the drawdown chart below to compare losses from any high point for SGDJ and SLX.

Drawdown Indicators

	SGDJ	SLX	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-82.14%	+22.87%
Max Drawdown (1Y) Largest decline over 1 year	-33.22%	-16.35%	-16.87%
Max Drawdown (3Y) Largest decline over 3 years	-33.22%	-27.39%	-5.83%
Max Drawdown (5Y) Largest decline over 5 years	-54.90%	-33.62%	-21.28%
Max Drawdown (10Y) Largest decline over 10 years	-59.27%	-61.64%	+2.37%
Current Drawdown Current decline from peak	-25.66%	-1.15%	-24.51%
Average Drawdown Average peak-to-trough decline	-26.25%	-38.73%	+12.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.50%	4.67%	+7.83%

Volatility

SGDJ vs. SLX - Volatility Comparison

Sprott Junior Gold Miners ETF (SGDJ) has a higher volatility of 13.18% compared to VanEck Vectors Steel ETF (SLX) at 7.87%. This indicates that SGDJ'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

	SGDJ	SLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.18%	7.87%	+5.31%
Volatility (6M) Calculated over the trailing 6-month period	39.87%	17.92%	+21.95%
Volatility (1Y) Calculated over the trailing 1-year period	48.34%	23.92%	+24.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.28%	27.72%	+12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.74%	31.02%	+9.72%

SGDJ vs. SLX - Expense Ratio Comparison

SGDJ has a 0.50% expense ratio, which is lower than SLX's 0.56% expense ratio.

Dividends

SGDJ vs. SLX - Dividend Comparison

SGDJ's dividend yield for the trailing twelve months is around 8.21%, more than SLX's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGDJ Sprott Junior Gold Miners ETF	8.21%	8.37%	6.55%	4.55%	2.46%	2.20%	1.97%	0.65%	0.00%	0.14%	1.77%	0.85%
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 SGDJ and SLX in my portfolio?

SGDJ and SLX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDJ or SLX?

SGDJ has higher volatility (13.18%) compared to SLX (7.87%). In terms of maximum drawdown, SGDJ dropped -59.27% vs SLX's -82.14%.

Which ETF is better, SGDJ or SLX?

On 10-year performance, SLX leads with 19.73% vs 11.97% for SGDJ. On fees, SGDJ is cheaper at 0.50% 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, SGDJ or SLX?

Over the 10-year period, SLX has performed better with a 19.73% return vs 11.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDJ or SLX?

SGDJ is cheaper with a 0.50% expense ratio, compared with 0.56% for SLX.

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

SGDJ has the higher dividend yield at 8.21%, compared with 1.17% for SLX.

What is the main difference between SGDJ and SLX?

SGDJ tracks Solactive Junior Gold Miners Custom Factors Index, while SLX tracks NYSE Arca Steel Index. They also come from different issuers: Sprott and VanEck. Their fees differ too: 0.50% for SGDJ and 0.56% for SLX.

Which has better risk-adjusted returns?

SLX currently has the higher Sharpe Ratio (3.25 vs 1.68), 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.