Data as of .
GDX vs KWEB: which is really different?
GDX and KWEB hold 0% of their weight in the same names, and GDX returned more over the year.
ETFIQ Off-Index Score: KWEB scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 349 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
0% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, GDX and KWEB hold 0% of their money in the same securities at the same weight.
| Only in GDX | Only in KWEB |
|---|---|
| Agnico Eagle Mines Ltd 10.67% | TENCENT HOLDINGS LTD 10.25% |
| Newmont Corp 10.42% | ALIBABA GROUP HOLDING LTD 8.61% |
| Barrick Mining Corp 7.95% | PDD HOLDINGS INC 8.11% |
| Wheaton Precious Metals Corp 5.61% | MEITUAN-CLASS B 7.32% |
| Anglogold Ashanti Plc 5.04% | NETEASE INC 6.25% |
| Franco-Nevada Corp 4.89% | LENOVO GROUP LTD 5.56% |
| Kinross Gold Corp 4.40% | KE HOLDINGS INC-CL A 4.41% |
| Gold Fields Ltd 4.07% | JD.COM INC-CLASS A 3.94% |
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 Sep 11, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| GDX | KWEB | GDX | KWEB | GDX | KWEB | |
| 3 months | +21.3% | −7.1% | +18.0 pts | −10.4 pts | +22.1 pts | −6.3 pts |
| 6 months | +4.1% | −18.4% | −11.9 pts | −34.5 pts | −16.6 pts | −39.1 pts |
| 1 year | +40.2% | −36.0% | +22.7 pts | −53.5 pts | +17.2 pts | −59.0 pts |
| 3 years | +249.2% | −1.9% | +171.3 pts | −79.8 pts | +154.1 pts | −97.0 pts |
| Since launch | +137.2% | +20.6% | −667.2 pts | −438.4 pts | −1536.8 pts | −919.7 pts |
| GDX VanEck Gold Miners ETF Holds 59 stocks in miners and metals, 11% of its weight in S&P 500 companies | KWEB KraneShares CSI China Internet ETF Holds 45 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VanEck | KraneShares |
| Theme | Miners and metals | Internet and e-commerce |
| In the S&P 500 | 11.0% | 0.0% |
| Active share vs the S&P 500 | 99.8% | 100.0% |
| In the Nasdaq-100 | 0.0% | 8.1% |
| Holdings | 59 | 45 |
| Top ten, share of the fund | 58.2% | 61.2% |
| Expense ratio | 0.51% | 0.69% |
| Fee for the differing part | 0.51% | 0.69% |
| Total return, 1 year | +40.2% | −36.0% |
| vs the S&P 500 | +22.7 pts | −53.5 pts |
| vs the Nasdaq-100 | +17.2 pts | −59.0 pts |
| Below its high | −16.2% | −71.5% |
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.
KWEB in plain words
By weight, 0% of KWEB'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 61% of the fund across 45 positions, as published by its issuer for Sep 11, 2026. Over the year to Sep 11, 2026 the fund returned −36.0% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 53.5 pts. It sits 71.5% below its all-time high of Feb 17, 2021.
Questions people ask
- Do GDX and KWEB hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, GDX or KWEB?
- GDX has 11% of its weight in S&P 500 names and KWEB has 0%, so KWEB differs more from the index.
- Which is cheaper, GDX or KWEB?
- GDX charges 0.51% a year and KWEB charges 0.69%, so GDX is cheaper. Fees come from each fund's prospectus.
Other comparisons
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 KWEB, data as of Sep 11, 2026. https://etfiq.com/compare/themes/GDX-KWEB Free to use with attribution; the underlying files are at Open data.