Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
EEM vs GDX: how they differ
Over the year GDX returned more, +40.2% against +32.3%, and GDX charges 0.51% against 0.72%.
iShares MSCI Emerging Markets ETF and VanEck Gold Miners ETF.
What they hold in common
By the books each fund has filed, EEM and GDX hold 0% of their money in the same securities at the same weight.
| Holding | EEM | GDX |
|---|---|---|
| Compania de Minas Buenaventura S.A.A. | 0.05% | 0.79% |
| Zijin Gold International Co Ltd | 0.03% | 0.79% |
| Only in EEM | Only in GDX |
|---|---|
| Taiwan Semiconductor Manufacturing Compa 14.28% | Agnico Eagle Mines Ltd 10.67% |
| SK hynix Inc. 6.65% | Newmont Corp 10.42% |
| Tencent Holdings Limited 2.71% | Barrick Mining Corp 7.95% |
| Alibaba Group Holding Limited 2.08% | Wheaton Precious Metals Corp 5.61% |
| MediaTek Inc. 1.62% | Anglogold Ashanti Plc 5.04% |
| DELTA ELECTRONICS, INC. 1.17% | Franco-Nevada Corp 4.89% |
| HON HAI PRECISION INDUSTRY CO., LTD. 0.90% | Kinross Gold Corp 4.40% |
| Samsung Electronics Co., Ltd. 0.85% | Gold Fields Ltd 4.07% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and May 31, 2026.
| EEM iShares MSCI Emerging Markets ETF | GDX VanEck Gold Miners ETF | |
|---|---|---|
| Where it sits | Core index fund | Thematic ETF |
| Issuer | iShares | VanEck |
| What it is | Emerging markets | Miners and metals |
| Total return, 1 year | +32.3% | +40.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +14.8 pts | +22.7 pts |
| Expense ratio | 0.72% | 0.51% |
| Already in the S&P 500 | 0.0% | 11.0% |
| Holdings | 1245 | 59 |
EEM in plain words
EEM is an index equity fund tracking the Emerging markets. Over the year to Sep 11, 2026 it returned +32.3% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.72% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1245 positions, with the top ten at 38.9%. It sat 4.7% below its high of Jun 22, 2026 on Sep 11, 2026.
GDX in plain words
By weight, 11% of GDX's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 58% of the fund across 59 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +40.2% with distributions reinvested against +17.5% for the S&P 500, so a holder was ahead by 22.7 pts. It sits 16.2% below its all-time high of Feb 27, 2026.
Questions people ask
- Which returned more over the last year, EEM or GDX?
- In the year to Sep 12, 2026, with distributions reinvested, EEM returned +32.3% and GDX returned +40.2%, so GDX returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, EEM or GDX?
- EEM charges 0.72% a year and GDX charges 0.51%, so GDX is cheaper. Fees come from each fund's prospectus.
- How much do EEM and GDX overlap with the S&P 500?
- By their latest filed holdings, 0% of EEM and 11% of GDX by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
- Are EEM and GDX the same kind of fund?
- No. EEM is an index ETF and GDX is a thematic ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.
Other comparisons
Where to next
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, EEM against GDX, data as of Sep 12, 2026. https://etfiq.com/compare/any/EEM-GDX Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources