SLX vs. ^DJUSST

Last updated Jun 3, 2026

SLX (VanEck Vectors Steel ETF) is Materials fund tracking the NYSE Arca Steel Index, while ^DJUSST (Dow Jones U.S. Iron & Steel Index) is an index. Over the past 10 years, SLX returned 19.86%/yr vs 17.67%/yr for ^DJUSST. Their correlation of 0.87 suggests significant overlap in exposure.

Performance

SLX vs. ^DJUSST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Steel ETF (SLX) and Dow Jones U.S. Iron & Steel Index (^DJUSST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLX achieves a 33.83% return, which is significantly lower than ^DJUSST's 47.12% return. Over the past 10 years, SLX has outperformed ^DJUSST with an annualized return of 19.86%, while ^DJUSST has yielded a comparatively lower 17.67% annualized return.

SLX

• 1D: 1.74%
• 1M: 9.78%
• YTD: 33.83%
• 6M: 41.91%
• 1Y: 80.96%
• 3Y*: 27.16%
• 5Y*: 16.60%
• 10Y*: 19.86%

^DJUSST

• 1D: 3.21%
• 1M: 15.39%
• YTD: 47.12%
• 6M: 50.61%
• 1Y: 86.78%
• 3Y*: 26.62%
• 5Y*: 20.18%
• 10Y*: 17.67%

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

SLX vs. ^DJUSST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLX VanEck Vectors Steel ETF	33.83%	47.45%	-17.94%	31.25%	14.28%	27.69%	20.57%	12.01%	-19.27%	24.59%
^DJUSST Dow Jones U.S. Iron & Steel Index	47.12%	41.01%	-23.32%	32.54%	17.42%	80.64%	-7.86%	15.40%	-24.56%	11.22%

Correlation

The correlation between SLX and ^DJUSST is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Oct 18, 2006	0.87

The correlation between SLX and ^DJUSST has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.

Return for Risk

SLX vs. ^DJUSST — Risk / Return Rank

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

SLX

SLX Risk / Return Rank: 89
SLX Sharpe Ratio Rank: 92
SLX Sortino Ratio Rank: 90
SLX Omega Ratio Rank: 87
SLX Calmar Ratio Rank: 89
SLX Martin Ratio Rank: 86

^DJUSST

^DJUSST Risk / Return Rank: 91
^DJUSST Sharpe Ratio Rank: 93
^DJUSST Sortino Ratio Rank: 92
^DJUSST Omega Ratio Rank: 86
^DJUSST Calmar Ratio Rank: 94
^DJUSST Martin Ratio Rank: 90

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.

SLX vs. ^DJUSST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Steel ETF (SLX) and Dow Jones U.S. Iron & Steel Index (^DJUSST). 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.

	SLX	^DJUSST	Difference
Sharpe ratio Return per unit of total volatility	3.41	3.14	+0.27
Sortino ratio Return per unit of downside risk	4.20	3.82	+0.38
Omega ratio Gain probability vs. loss probability	1.54	1.47	+0.07
Calmar ratio Return relative to maximum drawdown	5.29	4.74	+0.55
Martin ratio Return relative to average drawdown	18.53	15.62	+2.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLX vs. ^DJUSST - Sharpe Ratio Comparison

The current SLX Sharpe Ratio is 3.41, which is comparable to the ^DJUSST Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of SLX and ^DJUSST, 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

	SLX	^DJUSST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.41	3.14	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.60	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.52	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.25	-0.03

Drawdowns

SLX vs. ^DJUSST - Drawdown Comparison

The maximum SLX drawdown since its inception was -82.14%, roughly equal to the maximum ^DJUSST drawdown of -81.48%. Use the drawdown chart below to compare losses from any high point for SLX and ^DJUSST.

Drawdown Indicators

	SLX	^DJUSST	Difference
Max Drawdown Largest peak-to-trough decline	-82.14%	-81.48%	-0.66%
Max Drawdown (1Y) Largest decline over 1 year	-16.35%	-21.17%	+4.82%
Max Drawdown (3Y) Largest decline over 3 years	-27.39%	-38.57%	+11.18%
Max Drawdown (5Y) Largest decline over 5 years	-33.62%	-38.57%	+4.95%
Max Drawdown (10Y) Largest decline over 10 years	-61.64%	-61.00%	-0.64%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-38.73%	-37.13%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	6.43%	-1.76%

Volatility

SLX vs. ^DJUSST - Volatility Comparison

The current volatility for VanEck Vectors Steel ETF (SLX) is 7.85%, while Dow Jones U.S. Iron & Steel Index (^DJUSST) has a volatility of 8.60%. This indicates that SLX experiences smaller price fluctuations and is considered to be less risky than ^DJUSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLX	^DJUSST	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.85%	8.60%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	20.18%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	24.04%	28.68%	-4.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.72%	33.64%	-5.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.03%	34.12%	-3.09%

Frequently Asked Questions

Can I hold both SLX and ^DJUSST in my portfolio?

SLX and ^DJUSST have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLX or ^DJUSST?

^DJUSST has higher volatility (8.60%) compared to SLX (7.85%). In terms of maximum drawdown, SLX dropped -82.14% vs ^DJUSST's -81.48%.

Which has better risk-adjusted returns?

SLX currently has the higher Sharpe Ratio (3.41 vs 3.14), 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.