Data as of .
GDX vs SHLD: which is really different?
GDX and SHLD hold 0% of their weight in the same names, and GDX returned more over the year.
ETFIQ Off-Index Score: GDX 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 SHLD hold 0% of their money in the same securities at the same weight.
| Only in GDX | Only in SHLD |
|---|---|
| Agnico Eagle Mines Ltd 10.67% | PALANTIR TECHNOLOGIES INC-A 10.28% |
| Newmont Corp 10.42% | RTX CORPORATION 9.40% |
| Barrick Mining Corp 7.95% | GENERAL DYNAMICS CORP 8.73% |
| Wheaton Precious Metals Corp 5.61% | LOCKHEED MARTIN CORP 8.26% |
| Anglogold Ashanti Plc 5.04% | NORTHROP GRUMMAN CORP 7.86% |
| Franco-Nevada Corp 4.89% | BAE SYSTEMS PLC 4.54% |
| Kinross Gold Corp 4.40% | HANWHA AEROSPACE CO LTD 4.04% |
| Gold Fields Ltd 4.07% | RHEINMETALL AG 3.82% |
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 | SHLD | GDX | SHLD | GDX | SHLD | |
| 3 months | +21.3% | −2.9% | +18.0 pts | −6.2 pts | +22.1 pts | −2.1 pts |
| 6 months | +4.1% | −18.1% | −11.9 pts | −34.1 pts | −16.6 pts | −38.8 pts |
| 1 year | +40.2% | −4.8% | +22.7 pts | −22.4 pts | +17.2 pts | −27.8 pts |
| 3 years | +249.2% | not published | +171.3 pts | not published | +154.1 pts | not published |
| Since launch | +137.2% | +153.8% | −667.2 pts | +76.2 pts | −1536.8 pts | +59.5 pts |
| GDX VanEck Gold Miners ETF Holds 59 stocks in miners and metals, 11% of its weight in S&P 500 companies | SHLD Global X Defense Tech ETF Holds 52 stocks in defense, 40% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VanEck | Global X |
| Theme | Miners and metals | Defense |
| In the S&P 500 | 11.0% | 40.5% |
| Active share vs the S&P 500 | 99.8% | 99.1% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 59 | 52 |
| Top ten, share of the fund | 58.2% | 64.3% |
| Expense ratio | 0.51% | 0.50% |
| Fee for the differing part | 0.51% | 0.50% |
| Total return, 1 year | +40.2% | −4.8% |
| vs the S&P 500 | +22.7 pts | −22.4 pts |
| vs the Nasdaq-100 | +17.2 pts | −27.8 pts |
| Below its high | −16.2% | −20.6% |
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.
SHLD in plain words
By weight, 40% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 64% of the fund across 52 positions, as published by its issuer for Sep 11, 2026. Over the year to Sep 11, 2026 the fund returned −4.8% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 22.4 pts. It sits 20.6% below its all-time high of Mar 9, 2026.
Questions people ask
- Do GDX and SHLD 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 SHLD?
- GDX has 11% of its weight in S&P 500 names and SHLD has 40%, so GDX differs more from the index.
- Which is cheaper, GDX or SHLD?
- GDX charges 0.51% a year and SHLD charges 0.50%, so SHLD 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 SHLD, data as of Sep 11, 2026. https://etfiq.com/compare/themes/GDX-SHLD Free to use with attribution; the underlying files are at Open data.