VGK vs. GDXJ

Last updated Jun 14, 2026

VGK (Vanguard FTSE Europe ETF) and GDXJ (VanEck Junior Gold Miners ETF) are both exchange-traded funds - VGK is a Europe Equities fund tracking the FTSE Developed Europe All Cap Index, while GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index. Both are passively managed. Over the past 10 years, VGK returned 10.28%/yr vs 12.00%/yr for GDXJ. At a 0.33 correlation, their price movements are largely independent. VGK charges 0.06%/yr vs 0.52%/yr for GDXJ.

Performance

VGK vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Europe ETF (VGK) 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, VGK achieves a 7.69% return, which is significantly higher than GDXJ's -8.37% return. Over the past 10 years, VGK has underperformed GDXJ with an annualized return of 10.28%, while GDXJ has yielded a comparatively higher 12.00% annualized return.

VGK

• 1D: 0.18%
• 1M: 4.46%
• YTD: 7.69%
• 6M: 9.92%
• 1Y: 19.73%
• 3Y*: 16.69%
• 5Y*: 8.50%
• 10Y*: 10.28%

GDXJ

• 1D: 3.15%
• 1M: -10.41%
• YTD: -8.37%
• 6M: -6.68%
• 1Y: 49.74%
• 3Y*: 44.17%
• 5Y*: 16.23%
• 10Y*: 12.00%

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

VGK vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGK Vanguard FTSE Europe ETF	7.69%	35.83%	1.88%	20.19%	-15.98%	16.89%	5.43%	24.85%	-14.89%	26.98%
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 VGK and GDXJ is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009	0.33

The correlation between VGK and GDXJ shifts across timeframes, from 0.33 (all time) to 0.47 (5 years), reflecting how their relationship changes across market environments.

VGK vs. GDXJ - Sectors Allocation Comparison

Sectors	VGK	GDXJ
Financial Services	23.6%	-
Industrials	19.3%	-
Healthcare	11.9%	-
Consumer Defensive	8.4%	-
Technology	8.2%	-
Consumer Cyclical	6.8%	-
Basic Materials	5.3%	100.0%
Energy	5.3%	-
Utilities	4.7%	-
Communication Services	3.3%	-
Real Estate	1.5%	-

Return for Risk

VGK vs. GDXJ — Risk / Return Rank

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

VGK

VGK Risk / Return Rank: 36
VGK Sharpe Ratio Rank: 36
VGK Sortino Ratio Rank: 36
VGK Omega Ratio Rank: 34
VGK Calmar Ratio Rank: 34
VGK Martin Ratio Rank: 39

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.

VGK vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe ETF (VGK) 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.

	VGK	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.00	+0.14
Sortino ratio: Return per unit of downside risk	1.68	1.45	+0.22
Omega ratio: Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio: Return relative to maximum drawdown	1.49	1.30	+0.19
Martin ratio: Return relative to average drawdown	5.52	3.55	+1.96

VGK vs. GDXJ - Sharpe Ratio Comparison

The current VGK Sharpe Ratio is 1.13, which is comparable to the GDXJ Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of VGK 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

VGK vs. GDXJ - Drawdown Comparison

The maximum VGK drawdown since its inception was -63.61%, smaller than the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for VGK and GDXJ.

Drawdown Indicators

	VGK	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-63.61%	-88.66%	+25.05%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-39.47%	+27.38%
Max Drawdown (3Y) Largest decline over 3 years	-14.31%	-39.47%	+25.16%
Max Drawdown (5Y) Largest decline over 5 years	-32.74%	-48.79%	+16.05%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-57.77%	+20.53%
Current Drawdown Current decline from peak	-0.50%	-33.25%	+32.75%
Average Drawdown Average peak-to-trough decline	-13.33%	-60.45%	+47.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	14.41%	-11.14%

Volatility

VGK vs. GDXJ - Volatility Comparison

The current volatility for Vanguard FTSE Europe ETF (VGK) is 5.82%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 19.46%. This indicates that VGK experiences smaller price fluctuations and is considered to be less risky than GDXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGK	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	19.46%	-13.64%
Volatility (6M) Calculated over the trailing 6-month period	13.36%	43.41%	-30.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	51.54%	-35.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.98%	41.50%	-23.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	44.23%	-25.28%

VGK vs. GDXJ - Expense Ratio Comparison

VGK has a 0.06% expense ratio, which is lower than GDXJ's 0.52% expense ratio.

Dividends

VGK vs. GDXJ - Dividend Comparison

VGK's dividend yield for the trailing twelve months is around 2.76%, more than GDXJ's 2.54% yield.

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%
VGK Vanguard FTSE Europe ETF	2.76%	2.86%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%

Frequently Asked Questions

Can I hold both VGK and GDXJ in my portfolio?

VGK and GDXJ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGK or GDXJ?

GDXJ has higher volatility (19.46%) compared to VGK (5.82%). In terms of maximum drawdown, VGK dropped -63.61% vs GDXJ's -88.66%.

Which ETF is better, VGK or GDXJ?

On 10-year performance, GDXJ leads with 12.00% vs 10.28% for VGK. On fees, VGK is cheaper at 0.06% per year. On volatility, VGK has been the lower-risk option at 5.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VGK or GDXJ?

Over the 10-year period, GDXJ has performed better with a 12.00% return vs 10.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VGK or GDXJ?

VGK is cheaper with a 0.06% expense ratio, compared with 0.52% for GDXJ.

Which ETF pays a higher dividend yield, VGK or GDXJ?

VGK has the higher dividend yield at 2.76%, compared with 2.54% for GDXJ.

What is the main difference between VGK and GDXJ?

VGK is categorized as Europe Equities, while GDXJ is Gold. VGK tracks FTSE Developed Europe All Cap Index, while GDXJ tracks MVIS Global Junior Gold Miners Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.06% for VGK and 0.52% for GDXJ.

Which has better risk-adjusted returns?

VGK currently has the higher Sharpe Ratio (1.13 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.