Do AGMI and GDX hold the same stocks?

By their latest filings, 31% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, AGMI or GDX?

AGMI has 14% of its weight in S&P 500 names and GDX has 12%, so GDX differs more from the index.

Which is cheaper, AGMI or GDX?

AGMI charges 0.35% a year and GDX charges 0.51%, so AGMI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

AGMI vs GDX: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, AGMI returned +34.3% to GDX's +24.8%; 31% of their weight is in the same names.

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Net assets: $8.8m on Nov 4, 2026 for Themes Silver Miners ETF, and $23.9bn on Nov 3, 2026 for VanEck Gold Miners ETF.

AGMI on its own →GDX on its own →

At a glance

13.8%

AGMI in the S&P 500

11.6%

GDX in the S&P 500

+34.3%

AGMI total return, 1 year

+24.8%

GDX total return, 1 year

AGMI · 1 year to Nov 4, 2026 86% of its weight is outside the S&P 500

14% of AGMI's weight is in S&P 500 companies and 86% is outside the index. Holdings as of Nov 4, 2026.

GDX · 1 year to Nov 4, 2026 88% of its weight is outside the S&P 500

12% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Nov 2, 2026.

Pair scorecard

AGMI costs 0.16 points a year less; their one-year returns differ by 9.5 points; GDX is far larger, $23.9bn against $8.1m.

Points (pts) are percentage points.

AGMI vs GDX: Holdings Overlap & Returns
Measure	AGMI	GDX
Return
Measure	AGMI	GDX
Total return, 1 year	+34.3%	+24.8%
Drawdown
Measure	AGMI	GDX
Below its all-time high	29.8%, high on Feb 27, 2026	27.0%, high on Feb 27, 2026
Against its benchmark
Measure	AGMI	GDX
What it tracks	Silver miners	Gold miners
Its benchmark, total return, 1 year	+15.0%	+15.0%
Against its benchmark, 1 year	ahead by 19.3 pts	ahead by 9.8 pts
Cost and size
Measure	AGMI	GDX
Expense ratio	0.35%	0.51%
Net assets, as of Nov 3, 2026	$8.1m	$23.9bn
Holdings
Measure	AGMI	GDX
Holdings in common	31%

Method

What they share

31%

By the books each fund has filed, AGMI and GDX hold 31% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

31% in common

Positions both hold · largest shared weight first AGMI GDX

Newmont Corp 11.42% 11.67%

Wheaton Precious Metals Corp 7.09% 5.50%

Pan American Silver Corp 9.99% 2.57%

COEUR MINING INC. 2.58% 1.83%

Industrias Penoles SAB de CV 9.60% 1.31%

Franco-Nevada Corp 1.26% 5.46%

First Majestic Silver Corp 4.19% 1.15%

Hecla Mining Co 1.73% 1.15%

Anglogold Ashanti Plc 1.02% 4.81%

Fresnillo PLC 4.52% 1.01%

SSR Mining Inc 1.00% 0.76%

OR Royalties Inc 1.11% 0.68%

Only in one fund ↓

Only in AGMI

Southern Copper Corp 4.85%

Zijin Mining Group Co Ltd 4.26%

KGHM Polska Miedz SA 2.67%

Triple Flag Precious Metals Corp 2.58%

Freeport-McMoRan Inc 2.43%

AbraSilver Resource Corp 2.07%

Vizsla Silver Corp 1.93%

GoGold Resources Inc 1.82%

Only in GDX

Agnico Eagle Mines Ltd 11.35%

Barrick Mining Corp 8.16%

Gold Fields Ltd 4.11%

Kinross Gold Corp 3.60%

Northern Star Resources Ltd 3.21%

Royal Gold Inc 2.21%

Equinox Gold Corp 1.86%

Alamos Gold Inc 1.77%

Check overlap with more funds →

Window by window

Window by window: AGMI vs GDX: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AGMI	GDX	AGMI	GDX
3 months	−7.6%	+1.1%	−6.3 pts vs ACWI	+2.4 pts vs ACWI
6 months	−13.2%	−8.5%	−15.8 pts vs ACWI	−11.1 pts vs ACWI
1 year	+34.3%	+24.8%	+19.3 pts vs ACWI	+9.8 pts vs ACWI
3 years	–	+197.2%	–	+119.6 pts vs ACWI
Since launchNot the same days: AGMI May 2024 · GDX May 2006	+166.6%	+175.1%	+114.5 pts vs ACWI	not measured

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Side by side

AGMI Themes Silver Miners ETF · Holds 47 stocks in silver miners, 14% of its weight in S&P 500 companies GDX VanEck Gold Miners ETF · Holds 59 stocks in gold miners, 12% of its weight in S&P 500 companies

Issuer Themes VanEck

Theme Silver miners Gold miners

In the S&P 500 13.8% 11.6%

Active share vs the S&P 500 99.7% 99.8%

In the Nasdaq-100 0.0% 0.0%

Holdings 47 59

Top ten, share of the fund 64.7% 60.4%

Expense ratio 0.35% 0.51%

Fee for the differing part 0.35% 0.51%

Total return, 1 year +34.3% +24.8%

vs its benchmark +19.3 pts vs ACWI +9.8 pts vs ACWI

Below its high −29.8% −27.0%

Net assets, AGMI as of Nov 4, 2026 and GDX as of Nov 3, 2026 $8.8m $23.9bn

As of Nov 4, 2026. Source: ETFIQ.

31% of the two portfolios are the same securities at the same weight.

Alert

About each fund

AGMI

By weight, 14% of AGMI'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 65% of the fund across 47 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned +34.3% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 19.3 pts. It sits 29.8% below its all-time high of Feb 27, 2026.

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 Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +24.8% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 9.8 pts. It sits 27.0% below its all-time high of Feb 27, 2026.

Questions people ask

Do AGMI and GDX hold the same stocks?: By their latest filings, 31% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, AGMI or GDX?: AGMI has 14% of its weight in S&P 500 names and GDX has 12%, so GDX differs more from the index.
Which is cheaper, AGMI or GDX?: AGMI charges 0.35% a year and GDX charges 0.51%, so AGMI is cheaper. Fees come from each fund's prospectus.

Other comparisons

AGMI vs GDXJ AGMI vs RING AGMI vs SGDM AGMI vs GDMN GDX vs SLVP GDX vs SILJ GDX vs SIL GDX vs AUAU

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AGMI on its own →GDX on its own →AGMI dividend history →AGMI holdings →GDX dividend history →GDX holdings →Method →Standards and sources →

Sources and dates

AGMI filings on SEC EDGAR ↗

AGMI prospectus with the expense ratio (SEC) ↗

Themes page for AGMI ↗

GDX filings on SEC EDGAR ↗

GDX prospectus with the expense ratio (SEC) ↗

VanEck website ↗

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.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AGMI against GDX, data as of Nov 4, 2026. https://etfiq.com/compare/themes/agmi-vs-gdx

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.