SSRM vs. GDXJ

Last updated Jun 13, 2026

SSRM (SSR Mining Inc.) is a stock, while GDXJ (VanEck Junior Gold Miners ETF) is Gold fund tracking the MVIS Global Junior Gold Miners Index. Over the past 10 years, SSRM returned 9.58%/yr vs 12.00%/yr for GDXJ. Their correlation of 0.82 suggests significant overlap in exposure.

Performance

SSRM vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SSR Mining Inc. (SSRM) 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, SSRM achieves a 24.22% return, which is significantly higher than GDXJ's -8.37% return. Over the past 10 years, SSRM has underperformed GDXJ with an annualized return of 9.58%, while GDXJ has yielded a comparatively higher 12.00% annualized return.

SSRM

• 1D: 3.46%
• 1M: -21.64%
• YTD: 24.22%
• 6M: 22.60%
• 1Y: 119.07%
• 3Y*: 25.15%
• 5Y*: 9.84%
• 10Y*: 9.58%

GDXJ

• 1D: 3.15%
• 1M: -19.14%
• YTD: -8.37%
• 6M: -6.68%
• 1Y: 51.06%
• 3Y*: 44.17%
• 5Y*: 16.23%
• 10Y*: 12.00%

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

SSRM vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSRM SSR Mining Inc.	24.22%	214.94%	-35.32%	-29.94%	-10.02%	-10.90%	4.41%	59.31%	37.54%	-1.46%
GDXJ VanEck Junior Gold Miners ETF	-8.37%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%

Correlation

The correlation between SSRM and GDXJ is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.82

The correlation between SSRM and GDXJ has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.

Return for Risk

SSRM vs. GDXJ — Risk / Return Rank

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

SSRM

SSRM Risk / Return Rank: 86
SSRM Sharpe Ratio Rank: 87
SSRM Sortino Ratio Rank: 82
SSRM Omega Ratio Rank: 82
SSRM Calmar Ratio Rank: 88
SSRM Martin Ratio Rank: 88

GDXJ

GDXJ Risk / Return Rank: 31
GDXJ Sharpe Ratio Rank: 31
GDXJ Sortino Ratio Rank: 30
GDXJ Omega Ratio Rank: 33
GDXJ Calmar Ratio Rank: 30
GDXJ Martin Ratio Rank: 28

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.

SSRM vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SSR Mining Inc. (SSRM) 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.

	SSRM	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.00	+0.80
Sortino ratio: Return per unit of downside risk	2.35	1.45	+0.90
Omega ratio: Gain probability vs. loss probability	1.30	1.20	+0.10
Calmar ratio: Return relative to maximum drawdown	3.83	1.30	+2.53
Martin ratio: Return relative to average drawdown	9.89	3.55	+6.33

SSRM vs. GDXJ - Sharpe Ratio Comparison

The current SSRM Sharpe Ratio is 1.80, which is higher than the GDXJ Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of SSRM 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

SSRM vs. GDXJ - Drawdown Comparison

The maximum SSRM drawdown since its inception was -91.68%, roughly equal to the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for SSRM and GDXJ.

Drawdown Indicators

	SSRM	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-91.68%	-88.66%	-3.02%
Max Drawdown (1Y) Largest decline over 1 year	-31.28%	-39.47%	+8.19%
Max Drawdown (3Y) Largest decline over 3 years	-73.41%	-39.47%	-33.94%
Max Drawdown (5Y) Largest decline over 5 years	-83.16%	-49.76%	-33.40%
Max Drawdown (10Y) Largest decline over 10 years	-83.16%	-57.77%	-25.39%
Current Drawdown Current decline from peak	-37.45%	-33.25%	-4.20%
Average Drawdown Average peak-to-trough decline	-57.15%	-60.45%	+3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.09%	14.41%	-2.32%

Volatility

SSRM vs. GDXJ - Volatility Comparison

SSR Mining Inc. (SSRM) and VanEck Junior Gold Miners ETF (GDXJ) have volatilities of 19.31% and 19.46%, 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

	SSRM	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.31%	19.46%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	54.27%	43.41%	+10.86%
Volatility (1Y) Calculated over the trailing 1-year period	66.63%	51.54%	+15.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.93%	41.50%	+14.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.96%	44.23%	+8.73%

Dividends

SSRM vs. GDXJ - Dividend Comparison

SSRM has not paid dividends to shareholders, while GDXJ's dividend yield for the trailing twelve months is around 2.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.54%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
SSRM SSR Mining Inc.	0.00%	0.00%	0.00%	2.60%	1.79%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SSRM and GDXJ in my portfolio?

SSRM and GDXJ have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSRM or GDXJ?

GDXJ has higher volatility (19.46%) compared to SSRM (19.31%). In terms of maximum drawdown, SSRM dropped -91.68% vs GDXJ's -88.66%.

Which has better risk-adjusted returns?

SSRM currently has the higher Sharpe Ratio (1.80 vs 1.00), 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.