VT vs. GDX
VT (Vanguard Total World Stock ETF) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - VT is a Global Equities fund tracking the FTSE Global All Cap Index, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 10 years, VT returned 12.93%/yr vs 13.29%/yr for GDX. At a 0.30 correlation, their price movements are largely independent. VT charges 0.06%/yr vs 0.51%/yr for GDX.
Performance
VT vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, VT achieves a 11.06% return, which is significantly higher than GDX's -6.69% return. Both investments have delivered pretty close results over the past 10 years, with VT having a 12.93% annualized return and GDX not far ahead at 13.29%.
VT
- 1D
- 0.44%
- 1M
- 1.80%
- YTD
- 11.06%
- 6M
- 11.82%
- 1Y
- 27.43%
- 3Y*
- 19.71%
- 5Y*
- 10.65%
- 10Y*
- 12.93%
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%
VT vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VT Vanguard Total World Stock ETF | 11.06% | 22.43% | 16.49% | 22.02% | -18.00% | 18.27% | 16.59% | 26.81% | -9.76% | 24.50% |
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 VT and GDX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2008 | 0.30 |
The correlation between VT and GDX shifts across timeframes, from 0.28 (10 years) to 0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VT vs. GDX — Risk / Return Rank
VT
GDX
VT vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Stock ETF (VT) 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.
| VT | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.21 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 1.40 | +1.28 |
| Martin ratioReturn relative to average drawdown | 11.67 | 3.87 | +7.80 |
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Drawdowns
VT vs. GDX - Drawdown Comparison
The maximum VT drawdown since its inception was -50.27%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for VT and GDX.
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Drawdown Indicators
| VT | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.27% | -80.34% | +30.07% |
Max Drawdown (1Y)Largest decline over 1 year | -9.67% | -36.28% | +26.61% |
Max Drawdown (3Y)Largest decline over 3 years | -16.51% | -36.28% | +19.77% |
Max Drawdown (5Y)Largest decline over 5 years | -26.38% | -46.51% | +20.13% |
Max Drawdown (10Y)Largest decline over 10 years | -34.24% | -49.79% | +15.55% |
Current DrawdownCurrent decline from peak | -1.92% | -30.91% | +28.99% |
Average DrawdownAverage peak-to-trough decline | -7.01% | -40.41% | +33.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 13.11% | -10.89% |
Volatility
VT vs. GDX - Volatility Comparison
The current volatility for Vanguard Total World Stock ETF (VT) is 5.26%, while VanEck Gold Miners ETF (GDX) has a volatility of 17.20%. This indicates that VT 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
| VT | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 17.20% | -11.94% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 39.15% | -28.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.38% | 46.89% | -33.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.15% | 36.74% | -20.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.27% | 37.34% | -20.07% |
VT vs. GDX - Expense Ratio Comparison
VT has a 0.06% expense ratio, which is lower than GDX's 0.51% expense ratio.
Dividends
VT vs. GDX - Dividend Comparison
VT's dividend yield for the trailing twelve months is around 1.61%, 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% |
VT Vanguard Total World Stock ETF | 1.61% | 1.82% | 1.95% | 2.08% | 2.20% | 1.82% | 1.66% | 2.32% | 2.53% | 2.11% | 2.39% | 2.45% |
Frequently Asked Questions
VT and GDX have a correlation of 0.47, 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 VT (5.26%). In terms of maximum drawdown, VT dropped -50.27% vs GDX's -80.34%.
On 10-year performance, GDX leads with 13.29% vs 12.93% for VT. On fees, VT is cheaper at 0.06% per year. On volatility, VT has been the lower-risk option at 5.26%. 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 13.29% return vs 12.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VT is cheaper with a 0.06% expense ratio, compared with 0.51% for GDX.
VT has the higher dividend yield at 1.61%, compared with 0.79% for GDX.
VT is categorized as Global Equities, while GDX is Gold. VT tracks FTSE Global All Cap Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.06% for VT and 0.51% for GDX.
VT currently has the higher Sharpe Ratio (1.94 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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