USERX vs. GDX
Compare and contrast key facts about U.S. Global Investors Gold & Precious Metals Fund (USERX) and VanEck Gold Miners ETF (GDX).
USERX is managed by US Global. It was launched on Jun 30, 1974. 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.
Performance
USERX vs. GDX - Performance Comparison
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USERX vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USERX U.S. Global Investors Gold & Precious Metals Fund | -3.65% | 167.44% | 16.75% | 1.44% | -17.44% | -10.80% | 37.16% | 51.34% | -14.24% | 13.07% |
GDX VanEck Gold Miners ETF | 7.00% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Returns By Period
In the year-to-date period, USERX achieves a -3.65% return, which is significantly lower than GDX's 7.00% return. Both investments have delivered pretty close results over the past 10 years, with USERX having a 17.26% annualized return and GDX not far ahead at 17.53%.
USERX
- 1D
- -0.77%
- 1M
- -29.27%
- YTD
- -3.65%
- 6M
- 14.10%
- 1Y
- 93.42%
- 3Y*
- 41.60%
- 5Y*
- 20.82%
- 10Y*
- 17.26%
GDX
- 1D
- 6.97%
- 1M
- -20.78%
- YTD
- 7.00%
- 6M
- 20.99%
- 1Y
- 101.08%
- 3Y*
- 43.23%
- 5Y*
- 23.96%
- 10Y*
- 17.53%
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USERX vs. GDX - Expense Ratio Comparison
USERX has a 1.52% expense ratio, which is higher than GDX's 0.51% expense ratio.
Return for Risk
USERX vs. GDX — Risk / Return Rank
USERX
GDX
USERX vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Gold & Precious Metals Fund (USERX) 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.
| USERX | GDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.19 | 2.21 | -0.02 |
Sortino ratioReturn per unit of downside risk | 2.42 | 2.45 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.89 | 3.34 | -0.44 |
Martin ratioReturn relative to average drawdown | 10.76 | 12.07 | -1.31 |
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
| USERX | GDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 2.21 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.67 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.47 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 0.14 | -0.14 |
Correlation
The correlation between USERX and GDX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
USERX vs. GDX - Dividend Comparison
USERX's dividend yield for the trailing twelve months is around 3.06%, more than GDX's 0.69% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USERX U.S. Global Investors Gold & Precious Metals Fund | 3.06% | 2.95% | 1.48% | 0.00% | 0.00% | 2.13% | 2.68% | 0.00% | 1.76% | 0.00% | 0.88% | 0.47% |
GDX VanEck Gold Miners ETF | 0.69% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
Drawdowns
USERX vs. GDX - Drawdown Comparison
The maximum USERX drawdown since its inception was -97.74%, which is greater than GDX's maximum drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for USERX and GDX.
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Drawdown Indicators
| USERX | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.74% | -80.34% | -17.40% |
Max Drawdown (1Y)Largest decline over 1 year | -32.20% | -30.84% | -1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -43.45% | -46.51% | +3.06% |
Max Drawdown (10Y)Largest decline over 10 years | -43.45% | -49.79% | +6.34% |
Current DrawdownCurrent decline from peak | -47.32% | -20.78% | -26.54% |
Average DrawdownAverage peak-to-trough decline | -75.18% | -40.61% | -34.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.66% | 8.52% | +0.14% |
Volatility
USERX vs. GDX - Volatility Comparison
The current volatility for U.S. Global Investors Gold & Precious Metals Fund (USERX) is 16.05%, while VanEck Gold Miners ETF (GDX) has a volatility of 18.51%. This indicates that USERX 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
| USERX | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.05% | 18.51% | -2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 37.16% | 38.19% | -1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.96% | 46.00% | -2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.50% | 35.73% | -3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.98% | 37.44% | -3.46% |