(GDXJ) VanEck Junior Gold Miners - Ratings and Ratios

The VanEck Junior Gold Miners ETF (NYSE ARCA:GDXJ) is required to allocate at least 80 % of its net assets to the constituents of its underlying index, which screens for companies that derive ≥ 50 % of revenue from gold and/or silver mining, royalties, streaming, or from projects expected to meet that threshold once operational. The fund is classified as non-diversified, meaning it may hold a relatively concentrated portfolio of junior miners.

As of the most recent filing, GDXJ carries an expense ratio of 0.55 % and manages roughly $1.2 billion in assets, with the top five holdings-including companies such as Sibanye Stillwater (AG) and Royal Gold (AG) -accounting for about 30 % of total net assets. Over the past 12 months, the ETF has delivered a total return of ≈ -5 % versus a +7 % return for the broader VanEck Gold Miners ETF (GDX), reflecting its higher exposure to smaller-cap, higher-volatility miners.

Key drivers of GDXJ’s performance are (1) spot gold prices, which have a strong positive correlation (≈ 0.85) with the ETF’s price movements; (2) junior miners’ cash-burn rates and ability to finance exploration without dilutive equity raises; and (3) macro-level factors such as real-interest-rate differentials and geopolitical risk that influence gold’s safe-haven appeal. A rise in the U.S. real interest rate above 2 % typically pressures gold prices, which in turn can depress GDXJ’s NAV.

If you want a data-rich, risk-adjusted perspective on GDXJ’s valuation and factor exposures, consider checking ValueRay’s analyst dashboard for a deeper quantitative breakdown.