SGOL vs. GDX
Compare and contrast key facts about abrdn Physical Gold Shares ETF (SGOL) and VanEck Gold Miners ETF (GDX).
SGOL and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SGOL is a passively managed fund by abrdn that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Sep 9, 2009. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE MarketVector Global Gold Miners Index. It was launched on May 16, 2006. Both SGOL 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.
Performance
SGOL vs. GDX - Performance Comparison
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SGOL vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGOL abrdn Physical Gold Shares ETF | 10.52% | 63.99% | 26.90% | 12.99% | -0.51% | -3.94% | 25.03% | 18.21% | -1.94% | 12.86% |
GDX VanEck Gold Miners ETF | 11.94% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Returns By Period
In the year-to-date period, SGOL achieves a 10.52% return, which is significantly lower than GDX's 11.94% return. Over the past 10 years, SGOL has underperformed GDX with an annualized return of 14.31%, while GDX has yielded a comparatively higher 18.07% annualized return.
SGOL
- 1D
- 1.75%
- 1M
- -10.65%
- YTD
- 10.52%
- 6M
- 23.14%
- 1Y
- 52.61%
- 3Y*
- 34.00%
- 5Y*
- 22.26%
- 10Y*
- 14.31%
GDX
- 1D
- 4.62%
- 1M
- -16.76%
- YTD
- 11.94%
- 6M
- 25.38%
- 1Y
- 111.15%
- 3Y*
- 45.40%
- 5Y*
- 25.09%
- 10Y*
- 18.07%
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SGOL vs. GDX - Expense Ratio Comparison
SGOL has a 0.17% expense ratio, which is lower than GDX's 0.51% expense ratio.
Return for Risk
SGOL vs. GDX — Risk / Return Rank
SGOL
GDX
SGOL vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Gold Shares ETF (SGOL) and VanEck 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.
| SGOL | GDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.92 | 2.42 | -0.50 |
Sortino ratioReturn per unit of downside risk | 2.35 | 2.60 | -0.25 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.38 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.73 | 3.58 | -0.85 |
Martin ratioReturn relative to average drawdown | 10.00 | 12.86 | -2.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SGOL | GDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.92 | 2.42 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.27 | 0.71 | +0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 0.48 | +0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.14 | +0.44 |
Correlation
The correlation between SGOL and GDX is 0.76, 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.
Dividends
SGOL vs. GDX - Dividend Comparison
SGOL has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.66%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGOL abrdn Physical Gold Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GDX VanEck Gold Miners ETF | 0.66% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
Drawdowns
SGOL vs. GDX - Drawdown Comparison
The maximum SGOL drawdown since its inception was -45.51%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for SGOL and GDX.
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Drawdown Indicators
| SGOL | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -80.34% | +34.83% |
Max Drawdown (1Y)Largest decline over 1 year | -19.14% | -30.84% | +11.70% |
Max Drawdown (5Y)Largest decline over 5 years | -20.92% | -46.51% | +25.59% |
Max Drawdown (10Y)Largest decline over 10 years | -21.56% | -49.79% | +28.23% |
Current DrawdownCurrent decline from peak | -11.69% | -17.12% | +5.43% |
Average DrawdownAverage peak-to-trough decline | -18.46% | -40.60% | +22.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.22% | 8.58% | -3.36% |
Volatility
SGOL vs. GDX - Volatility Comparison
The current volatility for abrdn Physical Gold Shares ETF (SGOL) is 10.39%, while VanEck Gold Miners ETF (GDX) has a volatility of 17.26%. This indicates that SGOL experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGOL | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.39% | 17.26% | -6.87% |
Volatility (6M)Calculated over the trailing 6-month period | 24.05% | 38.43% | -14.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.52% | 46.20% | -18.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.64% | 35.76% | -18.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.84% | 37.46% | -21.62% |