GDXJ’s worst drop since 2009 was 89%
VanEck Junior Gold Miners ETF (GDXJ) fell 89% from Apr 2011 to Jan 2016. It took 14.7 years from that peak to close at a new high, in Jan 2026. Over the same years the S&P 500 fell as much as 34%.
That drop ranks 9th deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2009 to now
How GDXJ held up in each crash
| Crash | Years | GDXJ | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −50.7% | −33.7% |
| 2022 rate shock | 2022 | −48.8% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was GDXJ’s maximum drawdown?
GDXJ’s deepest fall since 2009 was 88.6%, from its high on April 8, 2011 to its low on January 19, 2016. The figure uses daily prices with dividends reinvested.
How long did GDXJ take to recover?
14.7 years. GDXJ first closed above its Apr 2011 high again on January 20, 2026.
Was GDXJ riskier than the S&P 500?
Over the same years, GDXJ’s worst drop was 88.6% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −64.3% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, November 12, 2009 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.