VNM vs. GDXJ

Last updated Jun 4, 2026

VNM (VanEck Vectors Vietnam ETF) and GDXJ (VanEck Junior Gold Miners ETF) are both exchange-traded funds - VNM is a Asia Pacific Equities fund tracking the MVIS Vietnam Index, while GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index. Both are passively managed. Over the past 10 years, VNM returned 3.30%/yr vs 13.07%/yr for GDXJ. At a 0.18 correlation, their price movements are largely independent. VNM charges 0.68%/yr vs 0.52%/yr for GDXJ.

Performance

VNM vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Vietnam ETF (VNM) 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, VNM achieves a -5.56% return, which is significantly lower than GDXJ's -2.55% return. Over the past 10 years, VNM has underperformed GDXJ with an annualized return of 3.30%, while GDXJ has yielded a comparatively higher 13.07% annualized return.

VNM

• 1D: -0.61%
• 1M: -4.00%
• YTD: -5.56%
• 6M: -3.39%
• 1Y: 29.35%
• 3Y*: 13.96%
• 5Y*: -0.84%
• 10Y*: 3.30%

GDXJ

• 1D: -4.40%
• 1M: -1.95%
• YTD: -2.55%
• 6M: 6.26%
• 1Y: 65.12%
• 3Y*: 46.12%
• 5Y*: 17.46%
• 10Y*: 13.07%

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

VNM vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNM VanEck Vectors Vietnam ETF	-5.56%	66.55%	-11.15%	15.01%	-43.74%	22.05%	9.84%	9.24%	-16.83%	38.80%
GDXJ VanEck Junior Gold Miners ETF	-2.55%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%

Correlation

The correlation between VNM and GDXJ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Nov 12, 2009	0.18

VNM vs. GDXJ - Sectors Allocation Comparison

Sectors	VNM	GDXJ
Real Estate	31.4%	-
Financial Services	27.5%	-
Industrials	14.9%	-
Consumer Defensive	14.4%	-
Basic Materials	7.9%	100.0%
Technology	1.7%	-
Energy	1.2%	-
Utilities	1.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Healthcare	-	-

Return for Risk

VNM vs. GDXJ — Risk / Return Rank

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

VNM

VNM Risk / Return Rank: 30
VNM Sharpe Ratio Rank: 30
VNM Sortino Ratio Rank: 30
VNM Omega Ratio Rank: 28
VNM Calmar Ratio Rank: 34
VNM Martin Ratio Rank: 30

GDXJ

GDXJ Risk / Return Rank: 35
GDXJ Sharpe Ratio Rank: 36
GDXJ Sortino Ratio Rank: 32
GDXJ Omega Ratio Rank: 35
GDXJ Calmar Ratio Rank: 39
GDXJ Martin Ratio Rank: 32

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.

VNM vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Vietnam ETF (VNM) 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.

	VNM	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.32	-0.21
Sortino ratio: Return per unit of downside risk	1.66	1.74	-0.08
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.73	1.99	-0.26
Martin ratio: Return relative to average drawdown	4.39	4.95	-0.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNM vs. GDXJ - Sharpe Ratio Comparison

The current VNM Sharpe Ratio is 1.10, which is comparable to the GDXJ Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of VNM 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.

Sharpe Ratios by Period

	VNM	GDXJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	1.32	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.43	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.30	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.06	-0.08

Drawdowns

VNM vs. GDXJ - Drawdown Comparison

The maximum VNM drawdown since its inception was -63.19%, smaller than the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for VNM and GDXJ.

Drawdown Indicators

	VNM	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-88.66%	+25.47%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-32.92%	+15.85%
Max Drawdown (3Y) Largest decline over 3 years	-31.60%	-32.92%	+1.32%
Max Drawdown (5Y) Largest decline over 5 years	-49.95%	-50.99%	+1.04%
Max Drawdown (10Y) Largest decline over 10 years	-51.67%	-57.77%	+6.10%
Current Drawdown Current decline from peak	-26.45%	-29.01%	+2.56%
Average Drawdown Average peak-to-trough decline	-37.83%	-60.50%	+22.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.72%	13.19%	-6.47%

Volatility

VNM vs. GDXJ - Volatility Comparison

The current volatility for VanEck Vectors Vietnam ETF (VNM) is 5.52%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 16.66%. This indicates that VNM 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

	VNM	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	16.66%	-11.14%
Volatility (6M) Calculated over the trailing 6-month period	18.51%	41.34%	-22.83%
Volatility (1Y) Calculated over the trailing 1-year period	26.79%	49.79%	-23.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.26%	41.10%	-16.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.46%	44.06%	-20.60%

VNM vs. GDXJ - Expense Ratio Comparison

VNM has a 0.68% expense ratio, which is higher than GDXJ's 0.52% expense ratio.

Dividends

VNM vs. GDXJ - Dividend Comparison

VNM's dividend yield for the trailing twelve months is around 0.21%, less than GDXJ's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.39%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
VNM VanEck Vectors Vietnam ETF	0.21%	0.20%	0.00%	5.21%	0.96%	0.49%	0.40%	0.76%	0.83%	1.14%	2.44%	3.69%

Frequently Asked Questions

Can I hold both VNM and GDXJ in my portfolio?

VNM and GDXJ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNM or GDXJ?

GDXJ has higher volatility (16.66%) compared to VNM (5.52%). In terms of maximum drawdown, VNM dropped -63.19% vs GDXJ's -88.66%.

Which ETF is better, VNM or GDXJ?

On 10-year performance, GDXJ leads with 13.07% vs 3.30% for VNM. On fees, GDXJ is cheaper at 0.52% per year. On volatility, VNM has been the lower-risk option at 5.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNM or GDXJ?

Over the 10-year period, GDXJ has performed better with a 13.07% return vs 3.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNM or GDXJ?

GDXJ is cheaper with a 0.52% expense ratio, compared with 0.68% for VNM.

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

GDXJ has the higher dividend yield at 2.39%, compared with 0.21% for VNM.

What is the main difference between VNM and GDXJ?

VNM is categorized as Asia Pacific Equities, while GDXJ is Gold. VNM tracks MVIS Vietnam Index, while GDXJ tracks MVIS Global Junior Gold Miners Index. Their fees differ too: 0.68% for VNM and 0.52% for GDXJ.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (1.31 vs 1.10), 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.