VanEck Steel ETF (SLX) Performance
SLX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +17.9% since Dec 31, 2025
- 1 year
- +31.8% total return
- 5 years
- +16.7% a year
- 10 years
- +15.7% a year
- Since first price
- +7.4% a year since 2006
SLX trailing returns vs SPY, QQQ, AGG
| Period | SLX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.5% | −4.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.8% | −1.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.2% | −1.2% | +7.8% | +8.4% | −1.5% |
| YTD | +17.9% | +17.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +31.8% | +29.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +80.9%+21.8%/yr | +67.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +116.2%+16.7%/yr | +77.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +330.3%+15.7%/yr | +206.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +240.0%+8.5%/yr | +107.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +318.5%+7.4%/yr | +134.2% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionOct 16, 2006 | +318.4%+7.4%/yr | +134.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SLX vs SPY
From Oct 16, 2006: SLX grew to $41,844, SPY to $80,053.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SLX returns by calendar year
13 of 19 full years positive. Best 2009 (+112.9%), worst 2008 (−63.8%). 2026 is year to date.
SLX annual returns table
| Year | SLX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +17.9% | −16.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +47.5% | −19.0% | +17.7% | +20.8% | +7.2% |
| 2024 | −17.9% | −18.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +31.3% | −20.9% | +26.2% | +54.9% | +5.7% |
| 2022 | +14.3% | −33.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +27.7% | −23.4% | +28.7% | +27.4% | −1.8% |
| 2020 | +20.6% | −52.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +11.2% | −26.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −19.3% | −30.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +24.5% | −22.3% | +21.7% | +32.7% | +3.6% |
| 2016 | +95.8% | −20.3% | +12.0% | +7.1% | +2.4% |
| 2015 | −42.0% | −46.0% | +1.2% | +9.4% | +0.5% |
| 2014 | −26.3% | −32.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +4.2% | −26.9% | +32.3% | +36.6% | −2.0% |
| 2012 | +4.7% | −30.6% | +16.0% | +18.1% | +3.8% |
| 2011 | −32.9% | −47.0% | +1.9% | +3.4% | +7.7% |
| 2010 | +19.6% | −28.0% | +15.1% | +19.9% | +6.4% |
| 2009 | +112.9% | −36.3% | +26.4% | +54.7% | +3.0% |
| 2008 | −63.8% | −82.0% | −36.8% | −41.7% | +7.9% |
| 2007 | +84.4% | −23.7% | +5.1% | +19.0% | +6.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SLX largest drawdowns
Now 11.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 16, 2008 | −82.1% | Jan 25, 2016 | Jan 26, 2023 | 7.7 years | 14.7 years |
| Dec 27, 2023 | −27.4% | Apr 8, 2025 | Jul 22, 2025 | 1.3 years | 1.6 years |
| Jul 12, 2007 | −23.7% | Aug 16, 2007 | Sep 18, 2007 | 35 days | 2 months |
| Dec 10, 2007 | −21.2% | Jan 23, 2008 | Feb 22, 2008 | 44 days | 2 months |
| Mar 3, 2023 | −20.9% | May 31, 2023 | Jul 25, 2023 | 3 months | 5 months |
| Feb 11, 2026 | −16.3% | Mar 20, 2026 | Apr 22, 2026 | 37 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SLX risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +19.1% | +17.7% | +16.6% | +7.4% |
| Volatility (annualized) | 23.2% | 28.6% | 29.2% | 33.7% |
| Sharpe ratio | 0.68 | 0.59 | 0.59 | 0.35 |
| Sortino ratio | 1.04 | 0.95 | 0.95 | 0.52 |
| Best month | +12.6% | +18.6% | +24.2% | +28.6% |
| Worst month | −15.1% | −21.3% | −25.4% | −34.9% |
| Best 12 months | +82.0% | +82.0% | +159.8% | +159.8% |
| Worst 12 months | −17.9% | −17.9% | −43.8% | −71.0% |
| Positive months | 67% | 58% | 57% | 55% |
| Beta vs S&P 500 | 1.15 | 1.22 | 1.31 | — |
| Correlation with S&P 500 | 0.62 | 0.67 | 0.69 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SLX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 229 | −71.0% | +10.1% | +159.8% | 60% |
| 3-year (a year) | 205 | −26.2% | +4.5% | +49.5% | 58% |
| 5-year (a year) | 181 | −22.4% | +4.5% | +28.0% | 66% |
| 10-year (a year) | 121 | −8.1% | +4.6% | +22.3% | 69% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
SLX performance overview
VanEck Steel ETF (SLX) returned +31.8% over the past year and +15.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned +7.4% a year, turning $10,000 into about $41,844. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −82.1%, from May 16, 2008 to Jan 25, 2016, and it took 7.0 years to get back to the old high. SLX finished 13 of its 19 full calendar years with a gain; the best year was 2009 (+112.9%) and the worst 2008 (−63.8%). Volatility has been 33.7% a year.
Related: SLX chart, SLX holdings, SLX dividends. See the SLX overview for the latest quote and fund facts.
SLX performance FAQ
What is the SLX return over the past year?
SLX returned +31.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 29.8%.
What is the average annual return of SLX?
SLX has returned +16.7% a year over 5 years, +15.7% a year over 10 years, +7.4% a year since October 16, 2006 (total return, distributions reinvested).
How much would $10,000 invested in SLX be worth?
$10,000 invested in SLX at its first recorded close on October 16, 2006 would be worth about $41,844 on October 23, 2026 with distributions reinvested.
What was the worst year for SLX?
The worst calendar year was 2008, with a total return of −63.8%. The best was 2009 at +112.9%.
What is the biggest drawdown of SLX?
The largest peak-to-trough decline was −82.1% between May 16, 2008 and January 25, 2016. It recovered to the old high on January 26, 2023, 7.0 years after the bottom.
How volatile is SLX?
Over the past 3 years SLX had an annualized volatility of 23.2% and a Sharpe ratio of 0.68 (excess return over 1–3 month T-bills per unit of risk).