SMHX vs. GDXJ

Last updated Jul 16, 2026

SMHX (VanEck Fabless Semiconductor ETF) and GDXJ (VanEck Junior Gold Miners ETF) are both exchange-traded funds - SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index, while GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index. Both are passively managed. Over the past year, SMHX returned 84.03% vs 46.05% for GDXJ. At a 0.24 correlation, their price movements are largely independent. SMHX charges 0.35%/yr vs 0.52%/yr for GDXJ.

Performance

SMHX vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Fabless Semiconductor ETF (SMHX) 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, SMHX achieves a 55.01% return, which is significantly higher than GDXJ's -15.14% return.

SMHX

• 1D: -1.24%
• 1M: -9.81%
• 6M: 51.58%
• YTD: 55.01%
• 1Y: 84.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDXJ

• 1D: -1.85%
• 1M: -13.70%
• 6M: -23.78%
• YTD: -15.14%
• 1Y: 46.05%
• 3Y*: 38.56%
• 5Y*: 18.43%
• 10Y*: 8.76%

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

SMHX vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMHX VanEck Fabless Semiconductor ETF	55.01%	30.00%	15.56%
GDXJ VanEck Junior Gold Miners ETF	-15.14%	172.28%	-6.98%

Correlation

The correlation between SMHX and GDXJ is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	0.24

SMHX vs. GDXJ - Sectors Allocation Comparison

Sectors	SMHX	GDXJ
Technology	100.0%	-
Basic Materials	-	99.7%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SMHX vs. GDXJ — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 81
SMHX Sharpe Ratio Rank: 86
SMHX Sortino Ratio Rank: 73
SMHX Omega Ratio Rank: 74
SMHX Calmar Ratio Rank: 93
SMHX Martin Ratio Rank: 81

GDXJ

GDXJ Risk / Return Rank: 29
GDXJ Sharpe Ratio Rank: 29
GDXJ Sortino Ratio Rank: 29
GDXJ Omega Ratio Rank: 31
GDXJ Calmar Ratio Rank: 29
GDXJ Martin Ratio Rank: 25

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.

SMHX vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) 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.

	SMHX	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	2.21	0.87	+1.34
Sortino ratio: Return per unit of downside risk	2.62	1.35	+1.27
Omega ratio: Gain probability vs. loss probability	1.34	1.18	+0.16
Calmar ratio: Return relative to maximum drawdown	4.95	1.17	+3.78
Martin ratio: Return relative to average drawdown	12.24	2.63	+9.61

SMHX vs. GDXJ - Sharpe Ratio Comparison

The current SMHX Sharpe Ratio is 2.21, which is higher than the GDXJ Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of SMHX 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

SMHX vs. GDXJ - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, smaller than the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for SMHX and GDXJ.

Drawdown Indicators

	SMHX	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-88.66%	+50.13%
Max Drawdown (1Y) Largest decline over 1 year	-17.06%	-39.47%	+22.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-39.47%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-48.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.77%	—
Current Drawdown Current decline from peak	-13.13%	-38.18%	+25.05%
Average Drawdown Average peak-to-trough decline	-7.45%	-60.32%	+52.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.89%	17.56%	-10.67%

Volatility

SMHX vs. GDXJ - Volatility Comparison

VanEck Fabless Semiconductor ETF (SMHX) and VanEck Junior Gold Miners ETF (GDXJ) have volatilities of 16.00% and 15.73%, 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

	SMHX	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.00%	15.73%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	31.78%	44.49%	-12.71%
Volatility (1Y) Calculated over the trailing 1-year period	38.21%	53.19%	-14.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.74%	41.93%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.74%	44.26%	-2.52%

SMHX vs. GDXJ - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is lower than GDXJ's 0.52% expense ratio.

Dividends

SMHX vs. GDXJ - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.02%, less than GDXJ's 2.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.74%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
SMHX VanEck Fabless Semiconductor ETF	0.02%	0.02%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMHX and GDXJ in my portfolio?

SMHX and GDXJ have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMHX or GDXJ?

SMHX has higher volatility (16.00%) compared to GDXJ (15.73%). In terms of maximum drawdown, SMHX dropped -38.53% vs GDXJ's -88.66%.

Which ETF is better, SMHX or GDXJ?

On 1-year performance, SMHX leads with 84.03% vs 46.05% for GDXJ. On fees, SMHX is cheaper at 0.35% per year. On volatility, GDXJ has been the lower-risk option at 15.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMHX or GDXJ?

Over the 1-year period, SMHX has performed better with a 84.03% return vs 46.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMHX or GDXJ?

SMHX is cheaper with a 0.35% expense ratio, compared with 0.52% for GDXJ.

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

GDXJ has the higher dividend yield at 2.74%, compared with 0.02% for SMHX.

What is the main difference between SMHX and GDXJ?

SMHX is categorized as Semiconductors, while GDXJ is Gold. SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index, while GDXJ tracks MVIS Global Junior Gold Miners Index. Their fees differ too: 0.35% for SMHX and 0.52% for GDXJ.

Which has better risk-adjusted returns?

SMHX currently has the higher Sharpe Ratio (2.21 vs 0.87), 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.