XLY vs. GDX
XLY (Consumer Discretionary Select Sector SPDR Fund) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - XLY is a Consumer Discretionary Equities fund tracking the Consumer Discretionary Select Sector Index, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 10 years, XLY returned 12.04%/yr vs 10.49%/yr for GDX. At a 0.17 correlation, their price movements are largely independent. XLY charges 0.13%/yr vs 0.51%/yr for GDX.
Performance
XLY vs. GDX - Performance Comparison
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Returns By Period
In the year-to-date period, XLY achieves a -3.64% return, which is significantly higher than GDX's -17.52% return. Over the past 10 years, XLY has outperformed GDX with an annualized return of 12.04%, while GDX has yielded a comparatively lower 10.49% annualized return.
XLY
- 1D
- -0.72%
- 1M
- -1.98%
- 6M
- -5.91%
- YTD
- -3.64%
- 1Y
- 3.97%
- 3Y*
- 11.17%
- 5Y*
- 5.72%
- 10Y*
- 12.04%
- ALL TIME*
- 9.54%
GDX
- 1D
- -0.81%
- 1M
- -14.26%
- 6M
- -27.25%
- YTD
- -17.52%
- 1Y
- 39.36%
- 3Y*
- 32.51%
- 5Y*
- 17.66%
- 10Y*
- 10.49%
- ALL TIME*
- 4.33%
XLY vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLY Consumer Discretionary Select Sector SPDR Fund | -3.64% | 7.37% | 26.51% | 39.64% | -36.27% | 27.93% | 29.63% | 28.39% | 1.58% | 22.82% |
GDX VanEck Gold Miners ETF | -17.52% | 154.77% | 10.63% | 9.98% | -9.01% | -9.52% | 23.66% | 39.84% | -8.77% | 11.99% |
Correlation
The correlation between XLY and GDX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 22, 2006 | 0.17 |
The correlation between XLY and GDX shifts across timeframes, from 0.16 (10 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLY vs. GDX — Risk / Return Rank
XLY
GDX
XLY vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Consumer Discretionary Select Sector SPDR Fund (XLY) 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.
| XLY | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.17 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | 1.02 | -0.75 |
| Martin ratioReturn relative to average drawdown | 0.76 | 2.36 | -1.60 |
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Drawdowns
XLY vs. GDX - Drawdown Comparison
The maximum XLY drawdown since its inception was -59.05%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for XLY and GDX.
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Drawdown Indicators
| XLY | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -80.34% | +21.29% |
Max Drawdown (1Y)Largest decline over 1 year | -14.98% | -38.93% | +23.95% |
Max Drawdown (3Y)Largest decline over 3 years | -26.01% | -38.93% | +12.92% |
Max Drawdown (5Y)Largest decline over 5 years | -39.67% | -46.51% | +6.84% |
Max Drawdown (10Y)Largest decline over 10 years | -39.67% | -49.79% | +10.12% |
Current DrawdownCurrent decline from peak | -7.59% | -38.93% | +31.34% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -40.38% | +30.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.25% | 16.71% | -11.46% |
Volatility
XLY vs. GDX - Volatility Comparison
The current volatility for Consumer Discretionary Select Sector SPDR Fund (XLY) is 5.47%, while VanEck Gold Miners ETF (GDX) has a volatility of 11.17%. This indicates that XLY 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
| XLY | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.47% | 11.17% | -5.70% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 39.98% | -25.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.74% | 48.23% | -29.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.95% | 37.08% | -13.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.10% | 37.32% | -15.22% |
XLY vs. GDX - Expense Ratio Comparison
XLY has a 0.13% expense ratio, which is lower than GDX's 0.51% expense ratio.
Dividends
XLY vs. GDX - Dividend Comparison
XLY's dividend yield for the trailing twelve months is around 0.79%, less than GDX's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 0.89% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
XLY Consumer Discretionary Select Sector SPDR Fund | 0.79% | 0.79% | 0.72% | 0.78% | 1.00% | 0.53% | 0.82% | 1.28% | 1.34% | 1.20% | 1.71% | 1.43% |
Frequently Asked Questions
XLY and GDX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDX has higher volatility (11.17%) compared to XLY (5.47%). In terms of maximum drawdown, XLY dropped -59.05% vs GDX's -80.34%.
On 10-year performance, XLY leads with 12.04% vs 10.49% for GDX. On fees, XLY is cheaper at 0.13% per year. On volatility, XLY has been the lower-risk option at 5.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLY has performed better with a 12.04% return vs 10.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLY is cheaper with a 0.13% expense ratio, compared with 0.51% for GDX.
GDX has the higher dividend yield at 0.89%, compared with 0.79% for XLY.
XLY is categorized as Consumer Discretionary Equities, while GDX is Gold. XLY tracks Consumer Discretionary Select Sector Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.13% for XLY and 0.51% for GDX.
GDX currently has the higher Sharpe Ratio (0.82 vs 0.21), 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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