VanEck Junior Gold Miners ETF falls sharply in 2026 amid tough market conditions and strong dollar.

The VanEck Junior Gold Miners ETF (GDXJ) has underperformed in 2026, dropping by double digits while other diversified miners gained and gold ETFs saw modest declines. Its portfolio is less focused on small-cap miners than expected, with significant overlap (79%) with the larger GDX ETF. Challenges include a strong US dollar, hawkish global central banks, and high capital expenditures despite falling gold prices. Technical and valuation signals suggest it is not a good time to invest in GDXJ currently.