SIL vs. GDXJ

Last updated Jun 24, 2026

SIL (Global X Silver Miners ETF) and GDXJ (VanEck Junior Gold Miners ETF) are both exchange-traded funds - SIL is a Silver fund tracking the Solactive Global Silver Miners Total Return Index, while GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index. Both are passively managed. Over the past 10 years, SIL returned 8.64%/yr vs 10.91%/yr for GDXJ. Their correlation of 0.92 suggests significant overlap in exposure. SIL charges 0.65%/yr vs 0.52%/yr for GDXJ.

Performance

SIL vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Silver Miners ETF (SIL) and VanEck Junior Gold Miners ETF (GDXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIL achieves a -5.97% return, which is significantly higher than GDXJ's -11.62% return. Over the past 10 years, SIL has underperformed GDXJ with an annualized return of 8.64%, while GDXJ has yielded a comparatively higher 10.91% annualized return.

SIL

• 1D: -5.47%
• 1M: -10.87%
• YTD: -5.97%
• 6M: -10.24%
• 1Y: 65.33%
• 3Y*: 47.37%
• 5Y*: 13.84%
• 10Y*: 8.64%

GDXJ

• 1D: -5.24%
• 1M: -9.91%
• YTD: -11.62%
• 6M: -16.20%
• 1Y: 51.11%
• 3Y*: 44.53%
• 5Y*: 17.86%
• 10Y*: 10.91%

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

SIL vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIL Global X Silver Miners ETF	-5.97%	166.16%	14.62%	1.31%	-22.83%	-18.35%	40.30%	34.78%	-22.42%	1.67%
GDXJ VanEck Junior Gold Miners ETF	-11.62%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%

Correlation

The correlation between SIL and GDXJ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010	0.92

The correlation between SIL and GDXJ has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

SIL vs. GDXJ - Sectors Allocation Comparison

Sectors	SIL	GDXJ
Basic Materials	99.8%	99.5%
Consumer Defensive	0.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SIL vs. GDXJ — Risk / Return Rank

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

SIL

SIL Risk / Return Rank: 35
SIL Sharpe Ratio Rank: 36
SIL Sortino Ratio Rank: 33
SIL Omega Ratio Rank: 35
SIL Calmar Ratio Rank: 37
SIL Martin Ratio Rank: 32

GDXJ

GDXJ Risk / Return Rank: 28
GDXJ Sharpe Ratio Rank: 28
GDXJ Sortino Ratio Rank: 27
GDXJ Omega Ratio Rank: 29
GDXJ Calmar Ratio Rank: 27
GDXJ Martin Ratio Rank: 26

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.

SIL vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners ETF (SIL) and VanEck Junior Gold Miners ETF (GDXJ). 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.

	SIL	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.25	0.98	+0.27
Sortino ratio: Return per unit of downside risk	1.69	1.45	+0.24
Omega ratio: Gain probability vs. loss probability	1.23	1.20	+0.03
Calmar ratio: Return relative to maximum drawdown	1.77	1.30	+0.47
Martin ratio: Return relative to average drawdown	4.50	3.40	+1.10

SIL vs. GDXJ - Sharpe Ratio Comparison

The current SIL Sharpe Ratio is 1.25, which is comparable to the GDXJ Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of SIL and GDXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SIL vs. GDXJ - Drawdown Comparison

The maximum SIL drawdown since its inception was -82.99%, smaller than the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for SIL and GDXJ.

Drawdown Indicators

	SIL	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-82.99%	-88.66%	+5.67%
Max Drawdown (1Y) Largest decline over 1 year	-37.08%	-39.47%	+2.39%
Max Drawdown (3Y) Largest decline over 3 years	-37.08%	-39.47%	+2.39%
Max Drawdown (5Y) Largest decline over 5 years	-49.48%	-48.79%	-0.69%
Max Drawdown (10Y) Largest decline over 10 years	-63.04%	-57.77%	-5.27%
Current Drawdown Current decline from peak	-33.47%	-35.62%	+2.15%
Average Drawdown Average peak-to-trough decline	-51.37%	-60.40%	+9.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.58%	15.08%	-0.50%

Volatility

SIL vs. GDXJ - Volatility Comparison

Global X Silver Miners ETF (SIL) and VanEck Junior Gold Miners ETF (GDXJ) have volatilities of 19.47% and 20.19%, 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.

Volatility by Period

	SIL	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.47%	20.19%	-0.72%
Volatility (6M) Calculated over the trailing 6-month period	44.45%	44.45%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	52.59%	52.42%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.84%	41.71%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.90%	44.30%	-4.40%

SIL vs. GDXJ - Expense Ratio Comparison

SIL has a 0.65% expense ratio, which is higher than GDXJ's 0.52% expense ratio.

Dividends

SIL vs. GDXJ - Dividend Comparison

SIL's dividend yield for the trailing twelve months is around 1.26%, less than GDXJ's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.63%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
SIL Global X Silver Miners ETF	1.26%	1.18%	2.40%	0.59%	0.48%	1.59%	1.92%	1.53%	1.21%	0.02%	3.34%	0.38%

Frequently Asked Questions

Can I hold both SIL and GDXJ in my portfolio?

With a correlation of 0.96, SIL and GDXJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SIL or GDXJ?

GDXJ has higher volatility (20.19%) compared to SIL (19.47%). In terms of maximum drawdown, SIL dropped -82.99% vs GDXJ's -88.66%.

Which ETF is better, SIL or GDXJ?

On 10-year performance, GDXJ leads with 10.91% vs 8.64% for SIL. On fees, GDXJ is cheaper at 0.52% per year. On volatility, SIL has been the lower-risk option at 19.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIL or GDXJ?

Over the 10-year period, GDXJ has performed better with a 10.91% return vs 8.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIL or GDXJ?

GDXJ is cheaper with a 0.52% expense ratio, compared with 0.65% for SIL.

Which ETF pays a higher dividend yield, SIL or GDXJ?

GDXJ has the higher dividend yield at 2.63%, compared with 1.26% for SIL.

What is the main difference between SIL and GDXJ?

SIL is categorized as Silver, while GDXJ is Gold. SIL tracks Solactive Global Silver Miners Total Return Index, while GDXJ tracks MVIS Global Junior Gold Miners Index. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.65% for SIL and 0.52% for GDXJ.

Which has better risk-adjusted returns?

SIL currently has the higher Sharpe Ratio (1.25 vs 0.98), 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.