EWJ vs GDX
Comparison between ISHARES MSCI JAPAN ETF (EWJ, ETF) and VANECK GOLD MINERS ETF (GDX, ETF).
5-Year PerformanceGDX has outperformed EWJ, delivering a return of +18.8% compared to +9.1%
EWJ vs GDX - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
EWJ vs GDX - Historical Returns
Returns include dividend reinvestment.
EWJ vs GDX - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EWJ | GDX |
|---|---|---|
| 2026 | +14.64% | -13.46% |
| 2025 | +26.06% | +144.40% |
| 2024 | +8.03% | +12.26% |
| 2023 | +19.75% | +6.25% |
| 2022 | -17.81% | -6.71% |
| 2021 | +2.38% | -15.37% |
| 2020 | +14.21% | +23.37% |
| 2019 | +18.51% | +40.08% |
| 2018 | -14.61% | -11.01% |
| 2017 | +23.26% | +7.65% |
| 2016 | +4.41% | +48.90% |
| 2015 | +8.97% | -26.95% |
| 2014 | -4.66% | -15.99% |
| 2013 | +22.93% | -54.72% |
| 2012 | +7.10% | -12.89% |
| 2011 | -15.57% | -14.17% |
| 2010 | +10.75% | +29.70% |
| 2009 | +2.60% | +39.01% |
| 2008 | -26.64% | -31.19% |
| 2007 | -5.43% | +23.26% |
| 2006 | +2.59% | +7.43% |
| 2005 | +25.83% | N/A |
| 2004 | +13.03% | N/A |
| 2003 | +36.18% | N/A |
| 2002 | -10.32% | N/A |
| 2001 | -29.91% | N/A |
| 2000 | -29.46% | N/A |
| 1999 | +12.29% | N/A |
EWJ vs GDX Drawdown Comparison
The maximum drawdown for EWJ was -60.95%, occurring on Apr 25, 2003. Recovery took 4319 trading sessions.
The maximum drawdown for GDX was -80.35%, occurring on Jan 19, 2016. Recovery took 3499 trading sessions.
The current EWJ drawdown is -4.36%. The current GDX drawdown is -35.95%.
| Rank | EWJ | GDX |
|---|---|---|
| #1 | -60.95% Mar 31, 2000 - Jun 2, 2017 | -80.35% Sep 8, 2011 - Aug 8, 2025 |
| #2 | -33.13% Sep 15, 2021 - Mar 6, 2024 | -70.79% Mar 14, 2008 - Sep 22, 2010 |
| #3 | -30.69% Jan 26, 2018 - Nov 9, 2020 | -38.93% Feb 27, 2026 - Jul 20, 2026 |
| #4 | -14.67% Sep 26, 2024 - Apr 29, 2025 | -20.52% Sep 5, 2006 - Feb 26, 2007 |
| #5 | -13.59% Feb 11, 2026 - Jun 4, 2026 | -19.96% Jul 19, 2007 - Sep 18, 2007 |
| #6 | -13.00% Dec 31, 1999 - Mar 31, 2000 | -19.14% Oct 16, 2025 - Dec 11, 2025 |
| #7 | -12.21% Jul 16, 2024 - Aug 23, 2024 | -19.03% Apr 8, 2011 - Sep 2, 2011 |
| #8 | -8.95% Feb 16, 2021 - Sep 3, 2021 | -18.56% Nov 6, 2007 - Jan 3, 2008 |
| #9 | -7.43% Mar 21, 2024 - Jul 12, 2024 | -17.71% Jun 2, 2006 - Jul 3, 2006 |
| #10 | -6.74% Jun 22, 2026 - Jul 20, 2026 | -17.58% Jan 28, 2026 - Feb 26, 2026 |
| #11 | -5.90% Oct 6, 2025 - Oct 20, 2025 | -16.18% Dec 6, 2010 - Apr 8, 2011 |
| #12 | -5.75% Nov 12, 2025 - Dec 15, 2025 | -13.48% Apr 16, 2007 - Jul 19, 2007 |
| #13 | -5.39% Aug 30, 2024 - Sep 26, 2024 | -12.82% Feb 26, 2007 - Apr 16, 2007 |
| #14 | -5.14% Nov 26, 1999 - Dec 23, 1999 | -12.32% Jan 14, 2008 - Feb 28, 2008 |
| #15 | -5.14% Jun 4, 2026 - Jun 15, 2026 | -10.99% Jul 3, 2006 - Aug 2, 2006 |
Correlation
Correlation between EWJ and GDX is 0.41 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
Dividend Comparison (1999 - 2026)
EWJ vs GDX dividend yield comparison.
| Year | EWJ | GDX |
|---|---|---|
| 2026 | 0.54% | 0.00% |
| 2025 | 4.52% | 0.74% |
| 2024 | 2.34% | 1.19% |
| 2023 | 2.03% | 1.61% |
| 2022 | 1.23% | 1.66% |
| 2021 | 2.08% | 1.67% |
| 2020 | 1.04% | 0.53% |
| 2019 | 2.03% | 0.67% |
| 2018 | 1.71% | 0.50% |
| 2017 | 1.25% | 0.76% |
| 2016 | 1.95% | 0.26% |
| 2015 | 1.27% | 0.85% |
| 2014 | 1.32% | 0.66% |
| 2013 | 1.11% | 0.90% |
| 2012 | 1.94% | 1.00% |
| 2011 | 2.13% | 1.46% |
| 2010 | 1.30% | 0.65% |
| 2009 | 1.42% | 0.24% |
| 2008 | 1.40% | 0.00% |
| 2007 | 1.04% | 3.25% |
| 2006 | 0.70% | 0.29% |
| 2005 | 0.43% | 0.00% |
| 2004 | 0.39% | 0.00% |
| 2003 | 0.02% | 0.00% |
| 2000 | 4.08% | 0.00% |
| 1999 | 0.67% | 0.00% |
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