VanEck Gold Miners ETF

Price: $28.71
Change: $0.45 (0.02%)
Category: Materials
Last Updated:


Issuer VanEck
Brand VanEck
Structure ETF
Expense Ratio 0.51%
ETF Home Page Home page
Inception May 16, 2006

Analyst Report

This ETF offers investors exposure to some of the largest gold mining companies in the world, thereby delivering what can be thought of as “indirect” exposure to gold prices. Because the profitability of gold miners depends on the prevailing market price for the goods that they sell, these stocks will generally exhibit a strong correlations to movements in spot gold prices. When gold prices go up, gold miners make more money (and vice versa). It should be noted, however, that this relationship is not perfect; in certain environments, gold miner stocks and physical gold prices can move in opposite directions, and correlation between the two can be less than perfect.

There are a number of potential benefits to investing in gold through stocks. Some investors have a hard time with the fact that physical gold will never make a distribution or generate a cash flow; gold miner stocks make dividends and report earnings, which can make valuation more straightforward. Also, gold miner stocks tend to trade as leveraged plays on spot gold prices; investors seeking to ramp up exposure may prefer to use stocks instead of the physical metal.

There are a few interesting alternatives in the space to the ultra-popular GDX. Perhaps the most intriguing of those is GGGG, a product from Global X that focuses more narrowly on firms that derive the vast majority of their revenues from gold mining. As such, mining firms with significant operations revolving around silver or other industrial or precious metals are excluded from that fund, which generally includes a much more meaningful tilt towards smaller companies. For investors looking to isolate gold exposure and maximize the correlation to the precious metal—without including silver, copper, or other metals—GGGG might be preferable to GDX.

ETF Database Themes

Category Materials
Asset Class Equity
Asset Class Size Multi-Cap
Asset Class Style Blend
Sector (General) Materials
Sector (Specific) Gold Miners
Region (General) Developed Markets
Region (Specific) Broad

FactSet Classifications

Segment Equity: Global Gold Miners
Category Sector
Focus Materials
Niche Gold Miners
Strategy Vanilla
Weighting Scheme Market Cap

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $21.52
  • 52 Week Hi $41.60
  • AUM $11,568.6 M
  • Shares 411.0 M

Historical Trading Data

  • 1 Month Avg. Volume 28,970,570
  • 3 Month Avg. Volume 26,845,024

Alternative ETFs in the ETF Database Materials Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest XLB 0.10% $5.6 B 6 M -7.57%
Largest (AUM) XLB 0.10% $5.6 B 6 M -7.57%
Most Liquid (Volume) GDXJ 0.52% $3.6 B 9 M -14.88%
Top YTD Performer XME 0.35% $2.1 B 4 M 18.92%

Alternative ETFs in the FactSet Equity: Global Gold Miners Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest RING 0.39% $388.1 M 105,320 -18.19%
Largest (AUM) GDXJ 0.52% $3.6 B 9 M -14.88%
Most Liquid (Volume) GDXJ 0.52% $3.6 B 9 M -14.88%
Top YTD Performer SGDM 0.50% $218.7 M 41,850 -10.01%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

GDX ETF Database Category Average FactSet Segment Average
Number of Holdings 50 60 50
% of Assets in Top 10 63.00% 51.33% 57.21%
% of Assets in Top 15 75.36% 65.67% 71.27%
% of Assets in Top 50 99.92% 95.96% 98.24%

Size Comparison

GDX ETF Database Category Average FactSet Segment Average
Large (>12.9B) 47.03% 39.94% 24.49%
Mid (>2.7B) 37.41% 35.76% 27.52%
Small (>600M) 15.14% 20.33% 38.50%
Micro (<600M) 0.42% 3.38% 9.44%

GDX Valuation

This section compares the P/E ratio of this ETF to its peers.

P/E Ratio
ETF Database Category Average
P/E Ratio
FactSet Segment Average
P/E Ratio

GDX Dividend

This section compares the dividend yield of this ETF to its peers.

GDX ETF Database Category Average FactSet Segment Average
Dividend $ 0.19 $ 0.37 $ 0.54
Dividend Date 2020-12-21 N/A N/A
Annual Dividend Rate $ 0.19 $ 0.78 $ 0.69
Annual Dividend Yield 0.55% 1.45% 2.23%

GDX Price and Volume Charts

View charts featuring GDX price and volume data.

GDX Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: -58.77 M 1 Month Net Flows: 331.31 M 3 Month Net Flows: -71.42 M 6 Month Net Flows: 374.36 M 1 Year Net Flows: -479.25 M 3 Year Net Flows: -451.92 M 5 Year Net Flows: 1.26 B 10 Year Net Flows: 5.99 B

GDX Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.