Which returned more over the last year, GDX or GLDM?

In the year to Sep 12, 2026, with distributions reinvested, GDX returned +40.2% and GLDM returned +19.4%, so GDX returned more. One year is one year; the longer windows are in the table.

Are GDX and GLDM the same kind of fund?

No. GDX is a thematic ETF and GLDM is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.

Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.

ETFIQetfiq.com · independent ETF data

GDX vs GLDM: how they differ

Over the year GDX returned more, +40.2% against +19.4%.

VanEck Gold Miners ETF and SPDR Gold MiniShares Trust.

GDX and GLDM on the fields both publish, as of Sep 12, 2026. Source: ETFIQ.
	GDX VanEck Gold Miners ETF	GLDM SPDR Gold MiniShares Trust
Where it sits	Thematic ETF	Core index fund
Issuer	VanEck	iShares
What it is	Miners and metals	Gold MiniShares
Total return, 1 year	+40.2%	+19.4%
S&P 500 over the same days	+17.5%	+17.5%
Gap to the S&P 500	+22.7 pts	+1.9 pts
Expense ratio	0.51%	not published
Holdings	59	not filed

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.

GLDM in plain words

GLDM is a commodity fund tracking the Gold MiniShares. Over the year to Sep 11, 2026 it returned +19.4% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. It sat 19.4% below its high of Jan 29, 2026 on Sep 11, 2026.

Questions people ask

Which returned more over the last year, GDX or GLDM?: In the year to Sep 12, 2026, with distributions reinvested, GDX returned +40.2% and GLDM returned +19.4%, so GDX returned more. One year is one year; the longer windows are in the table.
Are GDX and GLDM the same kind of fund?: No. GDX is a thematic ETF and GLDM is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.

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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.

GDX against GLDM, ETFIQ, data as of Sep 12, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. A comparison is not a recommendation.

Cite this page. ETFIQ, GDX against GLDM, data as of Sep 12, 2026. https://etfiq.com/compare/any/GDX-GLDM Free to use with attribution; the underlying files are at Open data.

A comparison is not a recommendation. Standards and sources