TAGS vs. GDX
TAGS (Teucrium Agricultural Fund) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - TAGS is a Agricultural Commodities fund tracking the Teucrium TAGS Index, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 10 years, TAGS returned -1.24%/yr vs 10.48%/yr for GDX. At a 0.05 correlation, their price movements are largely independent. TAGS charges 0.21%/yr vs 0.51%/yr for GDX.
Performance
TAGS vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, TAGS achieves a 8.47% return, which is significantly higher than GDX's -14.46% return. Over the past 10 years, TAGS has underperformed GDX with an annualized return of -1.24%, while GDX has yielded a comparatively higher 10.48% annualized return.
TAGS
- 1D
- 0.14%
- 1M
- 5.26%
- 6M
- 9.21%
- YTD
- 8.47%
- 1Y
- 3.48%
- 3Y*
- -7.48%
- 5Y*
- -0.39%
- 10Y*
- -1.24%
GDX
- 1D
- -2.86%
- 1M
- -8.32%
- 6M
- -23.35%
- YTD
- -14.46%
- 1Y
- 40.98%
- 3Y*
- 33.47%
- 5Y*
- 17.75%
- 10Y*
- 10.48%
TAGS vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAGS Teucrium Agricultural Fund | 8.47% | -8.76% | -14.57% | -6.11% | 16.25% | 27.05% | 8.19% | -4.53% | -7.10% | -13.94% |
GDX VanEck Gold Miners ETF | -14.46% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between TAGS and GDX is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2012 | 0.05 |
The correlation between TAGS and GDX shifts across timeframes, from -0.05 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TAGS vs. GDX — Risk / Return Rank
TAGS
GDX
TAGS vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Agricultural Fund (TAGS) 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.
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.
| TAGS | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.18 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.12 | -0.76 |
| Martin ratioReturn relative to average drawdown | 0.74 | 2.59 | -1.86 |
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Drawdowns
TAGS vs. GDX - Drawdown Comparison
The maximum TAGS drawdown since its inception was -76.40%, roughly equal to the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for TAGS and GDX.
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Drawdown Indicators
| TAGS | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.40% | -80.34% | +3.94% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -36.66% | +27.01% |
Max Drawdown (3Y)Largest decline over 3 years | -32.73% | -36.66% | +3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -37.60% | -46.51% | +8.91% |
Max Drawdown (10Y)Largest decline over 10 years | -43.84% | -49.79% | +5.95% |
Current DrawdownCurrent decline from peak | -62.88% | -36.66% | -26.22% |
Average DrawdownAverage peak-to-trough decline | -57.26% | -40.39% | -16.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 15.85% | -11.13% |
Volatility
TAGS vs. GDX - Volatility Comparison
The current volatility for Teucrium Agricultural Fund (TAGS) is 4.36%, while VanEck Gold Miners ETF (GDX) has a volatility of 14.73%. This indicates that TAGS 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
| TAGS | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 14.73% | -10.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.67% | 39.96% | -29.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.74% | 48.08% | -35.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 37.07% | -20.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.00% | 37.36% | -19.36% |
TAGS vs. GDX - Expense Ratio Comparison
TAGS has a 0.21% expense ratio, which is lower than GDX's 0.51% expense ratio.
Dividends
TAGS vs. GDX - Dividend Comparison
TAGS has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 0.86% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
TAGS Teucrium Agricultural Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAGS and GDX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (14.73%) compared to TAGS (4.36%). In terms of maximum drawdown, TAGS dropped -76.40% vs GDX's -80.34%.
On 10-year performance, GDX leads with 10.48% vs -1.24% for TAGS. On fees, TAGS is cheaper at 0.21% per year. On volatility, TAGS has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GDX has performed better with a 10.48% return vs -1.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAGS is cheaper with a 0.21% expense ratio, compared with 0.51% for GDX.
GDX has the higher dividend yield at 0.86%, compared with 0.00% for TAGS.
TAGS is categorized as Agricultural Commodities, while GDX is Gold. TAGS tracks Teucrium TAGS Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. They also come from different issuers: Teucrium and VanEck. Their fees differ too: 0.21% for TAGS and 0.51% for GDX.
GDX currently has the higher Sharpe Ratio (0.86 vs 0.27), 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.
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