Data as of Oct 28, 2026.
GDX vs VLUE: Differences, Returns & Fees
Over the year to Oct 28, 2026, GDX returned +19.0% to VLUE's +54.7%, and VLUE charges 0.15% to GDX's 0.51%.
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Net assets: $25.6bn on Oct 27, 2026 for VanEck Gold Miners ETF, and $9.4bn on Oct 28, 2026 for iShares MSCI USA Value Factor ETF.
Pair scorecard
VLUE costs 0.36 points a year less; their one-year returns differ by 35.7 points; GDX is 2.8 times larger.
| Measure | GDX | VLUE |
|---|---|---|
| Return | ||
| Total return, 1 year | +19.0% | +54.7% |
| Drawdown | ||
| Below its all-time high | 27.5%, high on Feb 27, 2026 | |
| Against its benchmark | ||
| What it tracks | Gold miners | MSCI USA Enhanced Value Index |
| Against its benchmark, 1 year | ahead by 5.6 pts | |
| Cost and size | ||
| Expense ratio | 0.51% | 0.15% |
| Net assets, as of Oct 27, 2026 | $25.6bn | $9.3bn |
| Active share vs the S&P 500 | 100% | |
| Holdings | ||
| Holdings in common | 1% | |
| Top ten holdings, share of the fund | 60% | 42.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
What they share
By the books each fund has filed, GDX and VLUE hold 1% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
1% in common
Only in one fund ↓
Side by side
GDX and VLUE on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
GDX
By weight, 12% 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 60% of the fund across 59 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +19.0% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 5.6 pts. It sits 27.5% below its all-time high of Feb 27, 2026.
VLUE
VLUE tracks the MSCI USA Value Factor. Over the year to Oct 28, 2026 it returned +54.7% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 148 positions, with the top ten at 42.8%.
Questions people ask
- Are GDX and VLUE in the same category?
- GDX is a thematic ETF and VLUE is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, GDX or VLUE?
- In the year to Oct 28, 2026, with distributions reinvested, GDX returned +19.0% and VLUE +54.7%.
- Which is cheaper, GDX or VLUE?
- VLUE is cheaper, by 0.36 percentage points a year. That is about $36 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, GDX against VLUE, data as of Oct 28, 2026. https://etfiq.com/compare/any/gdx-vs-vlue
ETFIQ. (Oct 28, 2026). GDX against VLUE. Retrieved from https://etfiq.com/compare/any/gdx-vs-vlue
[GDX against VLUE (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/gdx-vs-vlue)
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