SLX vs. REMX

Last updated Jun 23, 2026

SLX (VanEck Vectors Steel ETF) and REMX (VanEck Rare Earth and Strategic Metals ETF) are both exchange-traded funds - SLX is a Materials fund tracking the NYSE Arca Steel Index, while REMX is a Rare Earth & Strategic Metals fund tracking the MarketVector Global Rare Earth/Strategic Metals Index. Both are passively managed. Over the past 10 years, SLX returned 19.18%/yr vs 10.73%/yr for REMX. A 0.63 correlation means they provide meaningful diversification when combined. SLX charges 0.56%/yr vs 0.59%/yr for REMX.

Performance

SLX vs. REMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Steel ETF (SLX) and VanEck Rare Earth and Strategic Metals ETF (REMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLX achieves a 23.47% return, which is significantly lower than REMX's 31.62% return. Over the past 10 years, SLX has outperformed REMX with an annualized return of 19.18%, while REMX has yielded a comparatively lower 10.73% annualized return.

SLX

• 1D: -0.54%
• 1M: -1.77%
• YTD: 23.47%
• 6M: 23.68%
• 1Y: 67.37%
• 3Y*: 22.45%
• 5Y*: 15.96%
• 10Y*: 19.18%

REMX

• 1D: 1.82%
• 1M: 0.49%
• YTD: 31.62%
• 6M: 30.92%
• 1Y: 155.72%
• 3Y*: 7.67%
• 5Y*: 5.84%
• 10Y*: 10.73%

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

SLX vs. REMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLX VanEck Vectors Steel ETF	23.47%	47.45%	-17.94%	31.25%	14.28%	27.69%	20.57%	12.01%	-19.27%	24.59%
REMX VanEck Rare Earth and Strategic Metals ETF	31.62%	92.95%	-35.02%	-19.18%	-31.13%	79.81%	64.82%	0.74%	-49.63%	82.60%

Correlation

The correlation between SLX and REMX is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 28, 2010	0.63

The correlation between SLX and REMX has been stable across timeframes, ranging from 0.53 to 0.63 - a consistent structural relationship.

SLX vs. REMX - Sectors Allocation Comparison

Sectors	SLX	REMX
Basic Materials	93.2%	100.0%
Energy	3.5%	-
Industrials	3.3%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SLX vs. REMX — Risk / Return Rank

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

SLX

SLX Risk / Return Rank: 81
SLX Sharpe Ratio Rank: 87
SLX Sortino Ratio Rank: 81
SLX Omega Ratio Rank: 78
SLX Calmar Ratio Rank: 82
SLX Martin Ratio Rank: 76

REMX

REMX Risk / Return Rank: 85
REMX Sharpe Ratio Rank: 93
REMX Sortino Ratio Rank: 79
REMX Omega Ratio Rank: 74
REMX Calmar Ratio Rank: 94
REMX Martin Ratio Rank: 87

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. REMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Steel ETF (SLX) and VanEck Rare Earth and Strategic Metals ETF (REMX). 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.

	SLX	REMX	Difference
Sharpe ratio: Return per unit of total volatility	2.71	3.16	-0.45
Sortino ratio: Return per unit of downside risk	3.45	3.35	+0.10
Omega ratio: Gain probability vs. loss probability	1.44	1.42	+0.02
Calmar ratio: Return relative to maximum drawdown	4.14	6.71	-2.57
Martin ratio: Return relative to average drawdown	14.09	17.79	-3.71

SLX vs. REMX - Sharpe Ratio Comparison

The current SLX Sharpe Ratio is 2.71, which is comparable to the REMX Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of SLX and REMX, 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

SLX vs. REMX - Drawdown Comparison

The maximum SLX drawdown since its inception was -82.14%, smaller than the maximum REMX drawdown of -90.20%. Use the drawdown chart below to compare losses from any high point for SLX and REMX.

Drawdown Indicators

	SLX	REMX	Difference
Max Drawdown Largest peak-to-trough decline	-82.14%	-90.20%	+8.06%
Max Drawdown (1Y) Largest decline over 1 year	-16.35%	-23.35%	+7.00%
Max Drawdown (3Y) Largest decline over 3 years	-27.39%	-62.11%	+34.72%
Max Drawdown (5Y) Largest decline over 5 years	-33.62%	-73.34%	+39.72%
Max Drawdown (10Y) Largest decline over 10 years	-61.64%	-73.34%	+11.70%
Current Drawdown Current decline from peak	-7.74%	-55.45%	+47.71%
Average Drawdown Average peak-to-trough decline	-38.64%	-66.82%	+28.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	8.79%	-3.99%

Volatility

SLX vs. REMX - Volatility Comparison

The current volatility for VanEck Vectors Steel ETF (SLX) is 9.00%, while VanEck Rare Earth and Strategic Metals ETF (REMX) has a volatility of 15.65%. This indicates that SLX experiences smaller price fluctuations and is considered to be less risky than REMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLX	REMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.00%	15.65%	-6.65%
Volatility (6M) Calculated over the trailing 6-month period	19.04%	36.86%	-17.82%
Volatility (1Y) Calculated over the trailing 1-year period	25.05%	49.70%	-24.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.81%	40.64%	-12.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.00%	37.15%	-6.15%

SLX vs. REMX - Expense Ratio Comparison

SLX has a 0.56% expense ratio, which is lower than REMX's 0.59% expense ratio.

Dividends

SLX vs. REMX - Dividend Comparison

SLX's dividend yield for the trailing twelve months is around 1.26%, less than REMX's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REMX VanEck Rare Earth and Strategic Metals ETF	1.34%	1.76%	2.56%	0.00%	1.56%	5.25%	0.81%	1.64%	12.43%	2.89%	2.23%	4.77%
SLX VanEck Vectors Steel ETF	1.26%	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 SLX and REMX in my portfolio?

SLX and REMX have a correlation of 0.53, 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 REMX?

REMX has higher volatility (15.65%) compared to SLX (9.00%). In terms of maximum drawdown, SLX dropped -82.14% vs REMX's -90.20%.

Which ETF is better, SLX or REMX?

On 10-year performance, SLX leads with 19.18% vs 10.73% for REMX. On fees, SLX is cheaper at 0.56% per year. On volatility, SLX has been the lower-risk option at 9.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLX or REMX?

Over the 10-year period, SLX has performed better with a 19.18% return vs 10.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLX or REMX?

SLX is cheaper with a 0.56% expense ratio, compared with 0.59% for REMX.

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

REMX has the higher dividend yield at 1.34%, compared with 1.26% for SLX.

What is the main difference between SLX and REMX?

SLX is categorized as Materials, while REMX is Rare Earth & Strategic Metals. SLX tracks NYSE Arca Steel Index, while REMX tracks MarketVector Global Rare Earth/Strategic Metals Index. Their fees differ too: 0.56% for SLX and 0.59% for REMX.

Which has better risk-adjusted returns?

REMX currently has the higher Sharpe Ratio (3.16 vs 2.71), 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.