Data as of .
GDX vs XME: which is really different?
GDX and XME hold 11% 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
11% 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 XME hold 11% of their money in the same securities at the same weight.
| Holding | GDX | XME |
|---|---|---|
| Newmont Corp | 10.42% | 4.24% |
| Coeur Mining Inc | 2.38% | 4.46% |
| Royal Gold Inc | 1.95% | 4.26% |
| Hecla Mining Co | 1.38% | 4.62% |
| Only in GDX | Only in XME |
|---|---|
| Agnico Eagle Mines Ltd 10.67% | Uranium Energy Corp 4.76% |
| Barrick Mining Corp 7.95% | Centrus Energy Corp 4.60% |
| Wheaton Precious Metals Corp 5.61% | USA Rare Earth Inc 4.47% |
| Anglogold Ashanti Plc 5.04% | MP Materials Corp 4.41% |
| Franco-Nevada Corp 4.89% | Freeport-McMoRan Inc 4.26% |
| Kinross Gold Corp 4.40% | Materion Corp 4.22% |
| Gold Fields Ltd 4.07% | Reliance Inc 3.99% |
| Pan American Silver Corp 2.98% | Nucor Corp 3.74% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| GDX | XME | GDX | XME | GDX | XME | |
| 3 months | +21.3% | −5.6% | +18.0 pts | −8.9 pts | +22.1 pts | −4.8 pts |
| 6 months | +4.1% | +4.3% | −11.9 pts | −11.7 pts | −16.6 pts | −16.3 pts |
| 1 year | +40.2% | +32.5% | +22.7 pts | +15.0 pts | +17.2 pts | +9.6 pts |
| 3 years | +249.2% | +123.5% | +171.3 pts | +45.6 pts | +154.1 pts | +28.4 pts |
| Since launch | +137.2% | +160.8% | −667.2 pts | −643.6 pts | −1536.8 pts | −1513.1 pts |
| GDX VanEck Gold Miners ETF Holds 59 stocks in miners and metals, 11% of its weight in S&P 500 companies | XME State Street(R) SPDR(R) S&P(R) Metals & Mining ETF Holds 41 stocks in miners and metals, 17% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VanEck | State Street |
| Theme | Miners and metals | Miners and metals |
| In the S&P 500 | 11.0% | 17.3% |
| Active share vs the S&P 500 | 99.8% | 99.6% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 59 | 41 |
| Top ten, share of the fund | 58.2% | 46.8% |
| Expense ratio | 0.51% | 0.35% |
| Fee for the differing part | 0.51% | 0.35% |
| Total return, 1 year | +40.2% | +32.5% |
| vs the S&P 500 | +22.7 pts | +15.0 pts |
| vs the Nasdaq-100 | +17.2 pts | +9.6 pts |
| Below its high | −16.2% | −14.4% |
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.
XME in plain words
By weight, 17% of XME'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 47% of the fund across 41 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +32.5% with distributions reinvested against +17.5% for the S&P 500, so a holder was ahead by 15.0 pts. It sits 14.4% below its all-time high of Jun 2, 2026.
Questions people ask
- Do GDX and XME hold the same stocks?
- By their latest filings, 11% 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 XME?
- GDX has 11% of its weight in S&P 500 names and XME has 17%, so GDX differs more from the index.
- Which is cheaper, GDX or XME?
- GDX charges 0.51% a year and XME charges 0.35%, so XME 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 XME, data as of Sep 11, 2026. https://etfiq.com/compare/themes/GDX-XME Free to use with attribution; the underlying files are at Open data.