SMOT vs. GDX
Compare and contrast key facts about VanEck Morningstar SMID Moat ETF (SMOT) and VanEck Gold Miners ETF (GDX).
SMOT and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMOT is a passively managed fund by VanEck that tracks the performance of the Morningstar US Small-Mid Cap Moat Focus. It was launched on Oct 4, 2022. 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 SMOT 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
SMOT vs. GDX - Performance Comparison
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SMOT vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMOT VanEck Morningstar SMID Moat ETF | -2.79% | 6.46% | 10.71% | 17.31% | 5.41% |
GDX VanEck Gold Miners ETF | 11.94% | 154.77% | 10.63% | 9.98% | 13.63% |
Returns By Period
In the year-to-date period, SMOT achieves a -2.79% return, which is significantly lower than GDX's 11.94% return.
SMOT
- 1D
- 2.39%
- 1M
- -5.40%
- YTD
- -2.79%
- 6M
- -1.13%
- 1Y
- 8.79%
- 3Y*
- 8.50%
- 5Y*
- —
- 10Y*
- —
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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SMOT vs. GDX - Expense Ratio Comparison
SMOT has a 0.49% expense ratio, which is lower than GDX's 0.51% expense ratio.
Return for Risk
SMOT vs. GDX — Risk / Return Rank
SMOT
GDX
SMOT vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar SMID Moat ETF (SMOT) 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.
| SMOT | GDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.42 | 2.42 | -2.00 |
Sortino ratioReturn per unit of downside risk | 0.76 | 2.60 | -1.83 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.38 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | 0.63 | 3.58 | -2.95 |
Martin ratioReturn relative to average drawdown | 2.54 | 12.86 | -10.32 |
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
| SMOT | GDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 2.42 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.14 | +0.42 |
Correlation
The correlation between SMOT and GDX is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SMOT vs. GDX - Dividend Comparison
SMOT's dividend yield for the trailing twelve months is around 1.41%, more than GDX's 0.66% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMOT VanEck Morningstar SMID Moat ETF | 1.41% | 1.37% | 1.18% | 0.65% | 0.24% | 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
SMOT vs. GDX - Drawdown Comparison
The maximum SMOT drawdown since its inception was -23.36%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for SMOT and GDX.
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Drawdown Indicators
| SMOT | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.36% | -80.34% | +56.98% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -30.84% | +16.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.79% | — |
Current DrawdownCurrent decline from peak | -6.73% | -17.12% | +10.39% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -40.60% | +35.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 8.58% | -4.96% |
Volatility
SMOT vs. GDX - Volatility Comparison
The current volatility for VanEck Morningstar SMID Moat ETF (SMOT) is 4.75%, while VanEck Gold Miners ETF (GDX) has a volatility of 17.26%. This indicates that SMOT 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
| SMOT | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 17.26% | -12.51% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 38.43% | -28.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.86% | 46.20% | -25.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 35.76% | -17.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.70% | 37.46% | -18.76% |