Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
GDX vs IWD: how they differ
Over the year GDX returned more, +40.2% against +27.4%, and IWD charges 0.18% against 0.51%.
VanEck Gold Miners ETF and iShares Russell 1000 Value ETF.
What they hold in common
By the books each fund has filed, GDX and IWD hold 0% of their money in the same securities at the same weight.
| Holding | GDX | IWD |
|---|---|---|
| Newmont Corp | 10.42% | 0.28% |
| Royal Gold Inc | 1.95% | 0.05% |
| Coeur Mining Inc | 2.38% | 0.05% |
| Hecla Mining Co | 1.38% | 0.03% |
| Only in GDX | Only in IWD |
|---|---|
| Agnico Eagle Mines Ltd 10.67% | AMAZON.COM, INC. 5.95% |
| Barrick Mining Corp 7.95% | APPLE INC. 5.38% |
| Wheaton Precious Metals Corp 5.61% | MICROSOFT CORPORATION 3.89% |
| Anglogold Ashanti Plc 5.04% | BERKSHIRE HATHAWAY INC. 2.62% |
| Franco-Nevada Corp 4.89% | JPMORGAN CHASE & CO. 2.46% |
| Kinross Gold Corp 4.40% | INTEL CORPORATION 1.72% |
| Gold Fields Ltd 4.07% | JOHNSON & JOHNSON 1.72% |
| Pan American Silver Corp 2.98% | EXXON MOBIL CORPORATION 1.60% |
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.
| GDX VanEck Gold Miners ETF | IWD iShares Russell 1000 Value ETF | |
|---|---|---|
| Where it sits | Thematic ETF | Core index fund |
| Issuer | VanEck | iShares |
| What it is | Miners and metals | Russell 1000 value |
| Total return, 1 year | +40.2% | +27.4% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +22.7 pts | +9.9 pts |
| Expense ratio | 0.51% | 0.18% |
| Already in the S&P 500 | 11.0% | 90.2% |
| Holdings | 59 | 870 |
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.
IWD in plain words
IWD is an index equity fund tracking the Russell 1000 value. Over the year to Sep 11, 2026 it returned +27.4% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.18% a year. By its holdings filed for Jun 30, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 870 positions, with the top ten at 27.9%.
Questions people ask
- Which returned more over the last year, GDX or IWD?
- In the year to Sep 12, 2026, with distributions reinvested, GDX returned +40.2% and IWD returned +27.4%, so GDX returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, GDX or IWD?
- GDX charges 0.51% a year and IWD charges 0.18%, so IWD is cheaper. Fees come from each fund's prospectus.
- How much do GDX and IWD overlap with the S&P 500?
- By their latest filed holdings, 11% of GDX and 90% of IWD 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 GDX and IWD the same kind of fund?
- No. GDX is a thematic ETF and IWD 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.
Cite this page. ETFIQ, GDX against IWD, data as of Sep 12, 2026. https://etfiq.com/compare/any/GDX-IWD Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources