VFSTX vs. GDX
VFSTX (Vanguard Short-Term Investment-Grade Fund Investor Shares) and GDX (VanEck Gold Miners ETF) are both funds - VFSTX is a Total Bond Market fund managed by Vanguard, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Over the past 10 years, VFSTX returned 2.51%/yr vs 13.29%/yr for GDX. At a 0.17 correlation, their price movements are largely independent. VFSTX charges 0.20%/yr vs 0.51%/yr for GDX.
Performance
VFSTX vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, VFSTX achieves a 0.67% return, which is significantly higher than GDX's -6.69% return. Over the past 10 years, VFSTX has underperformed GDX with an annualized return of 2.51%, while GDX has yielded a comparatively higher 13.29% annualized return.
VFSTX
- 1D
- 0.19%
- 1M
- 0.59%
- YTD
- 0.67%
- 6M
- 1.15%
- 1Y
- 4.59%
- 3Y*
- 5.56%
- 5Y*
- 2.26%
- 10Y*
- 2.51%
GDX
- 1D
- 2.97%
- 1M
- -8.38%
- YTD
- -6.69%
- 6M
- -5.89%
- 1Y
- 48.02%
- 3Y*
- 38.96%
- 5Y*
- 17.51%
- 10Y*
- 13.29%
VFSTX vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares | 0.67% | 6.75% | 4.98% | 6.06% | -5.84% | -0.70% | 5.16% | 5.75% | 0.87% | 2.02% |
GDX VanEck Gold Miners ETF | -6.69% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between VFSTX and GDX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 22, 2006 | 0.17 |
The correlation between VFSTX and GDX shifts across timeframes, from 0.17 (all time) to 0.30 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
VFSTX vs. GDX — Risk / Return Rank
VFSTX
GDX
VFSTX vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX) 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.
| VFSTX | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.21 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 1.40 | +1.24 |
| Martin ratioReturn relative to average drawdown | 10.21 | 3.87 | +6.35 |
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Drawdowns
VFSTX vs. GDX - Drawdown Comparison
The maximum VFSTX drawdown since its inception was -9.35%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for VFSTX and GDX.
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Drawdown Indicators
| VFSTX | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.35% | -80.34% | +70.99% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -36.28% | +34.57% |
Max Drawdown (3Y)Largest decline over 3 years | -1.71% | -36.28% | +34.57% |
Max Drawdown (5Y)Largest decline over 5 years | -9.35% | -46.51% | +37.16% |
Max Drawdown (10Y)Largest decline over 10 years | -9.35% | -49.79% | +40.44% |
Current DrawdownCurrent decline from peak | -0.36% | -30.91% | +30.55% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -40.41% | +39.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 13.11% | -12.67% |
Volatility
VFSTX vs. GDX - Volatility Comparison
The current volatility for Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX) is 0.76%, while VanEck Gold Miners ETF (GDX) has a volatility of 17.20%. This indicates that VFSTX 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
| VFSTX | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 17.20% | -16.44% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 39.15% | -37.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.30% | 46.89% | -44.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 36.74% | -33.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.48% | 37.34% | -34.86% |
VFSTX vs. GDX - Expense Ratio Comparison
VFSTX has a 0.20% expense ratio, which is lower than GDX's 0.51% expense ratio.
Dividends
VFSTX vs. GDX - Dividend Comparison
VFSTX's dividend yield for the trailing twelve months is around 4.61%, more than GDX's 0.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 0.79% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares | 4.61% | 4.48% | 4.06% | 3.05% | 1.93% | 1.70% | 2.24% | 2.83% | 2.68% | 2.00% | 2.04% | 1.99% |
Frequently Asked Questions
VFSTX and GDX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (17.20%) compared to VFSTX (0.76%). In terms of maximum drawdown, VFSTX dropped -9.35% vs GDX's -80.34%.
VFSTX currently has the higher Sharpe Ratio (1.97 vs 1.09), 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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