Data as of .
GBUG vs GDX: which is really different?
GBUG and GDX hold 38% of their weight in the same names, and GBUG returned more over the year.
ETFIQ Off-Index Score: GBUG scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 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
38% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, GBUG and GDX hold 38% of their money in the same securities at the same weight.
| Holding | GBUG | GDX |
|---|---|---|
| Newmont Corp. | 3.32% | 10.88% |
| Wheaton Precious Metals Corp. | 3.31% | 5.74% |
| Agnico Eagle Mines Ltd. | 3.16% | 10.99% |
| Northern Star Resources Ltd. | 2.93% | 2.45% |
| Anglogold Ashanti PLC | 2.42% | 4.96% |
| Coeur Mining Inc. | 3.82% | 2.19% |
| Kinross Gold Corp. | 2.19% | 4.12% |
| Alamos Gold Inc. | 1.94% | 1.89% |
| Equinox Gold Corp. | 3.15% | 1.88% |
| Evolution Mining Ltd. | 2.29% | 1.53% |
| IAMGOLD Corp. | 4.15% | 1.29% |
| Barrick Mining Corp. | 1.15% | 7.75% |
| Only in GBUG | Only in GDX |
|---|---|
| DPM Metals Inc. 5.29% | Franco-Nevada Corp 5.22% |
| Wesdome Gold Mines Ltd. 3.81% | Gold Fields Ltd 4.11% |
| Emerald Resources NL 3.17% | Royal Gold Inc 1.94% |
| i-80 Gold Corp. 2.60% | Industrias Penoles Sab De Cv 1.42% |
| Ora Banda Mining Ltd. 2.20% | Hecla Mining Co 1.33% |
| Valterra Platinum Ltd. 1.80% | First Majestic Silver Corp 1.31% |
| Metalla Royalty & Streaming Ltd. 1.73% | Endeavour Mining Plc 1.30% |
| Vizsla Silver Corp. 1.50% | Zijin Gold International Co Ltd 1.18% |
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 Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| GBUG | GDX | GBUG | GDX | GBUG | GDX | |
| 3 months | +19.9% | +15.7% | +17.6 pts | +13.5 pts | +22.4 pts | +18.2 pts |
| 6 months | +26.4% | +19.2% | +8.4 pts | +1.1 pts | +2.2 pts | −5.1 pts |
| 1 year | +50.5% | +39.8% | +33.9 pts | +23.2 pts | +28.7 pts | +18.0 pts |
| 3 years | not published | +236.3% | not published | +157.8 pts | not published | +138.1 pts |
| Since launch | +150.3% | +133.2% | +123.0 pts | −670.3 pts | +115.0 pts | −1557.0 pts |
| GBUG Sprott Active Gold & Silver Miners ETF Holds 44 stocks in gold miners, 3% of its weight in S&P 500 companies | GDX VanEck Gold Miners ETF Holds 59 stocks in gold miners, 11% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Sprott | VanEck |
| Theme | Gold miners | Gold miners |
| In the S&P 500 | 3.3% | 10.9% |
| Active share vs the S&P 500 | 99.8% | 99.8% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 44 | 59 |
| Top ten, share of the fund | 41.2% | 58.5% |
| Expense ratio | 0.90% | 0.51% |
| Fee for the differing part | 0.90% | 0.51% |
| Total return, 1 year | +50.5% | +39.8% |
| vs the S&P 500 | +33.9 pts | +23.2 pts |
| vs the Nasdaq-100 | +28.7 pts | +18.0 pts |
| Below its high | −14.2% | −17.6% |
| Net assets | $192m | $28.4bn |
GBUG in plain words
By weight, 3% of GBUG'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 41% of the fund across 44 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +50.5% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 33.9 pts. It sits 14.2% below its all-time high of Feb 27, 2026.
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 18, 2026. Over the year to Sep 18, 2026 the fund returned +39.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 23.2 pts. It sits 17.6% below its all-time high of Feb 27, 2026.
Questions people ask
- Do GBUG and GDX hold the same stocks?
- By their latest filings, 38% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, GBUG or GDX?
- GBUG has 3% of its weight in S&P 500 names and GDX has 11%, so GBUG differs more from the index.
- Which is cheaper, GBUG or GDX?
- GBUG charges 0.90% a year and GDX charges 0.51%, 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, GBUG against GDX, data as of Sep 18, 2026. https://etfiq.com/compare/themes/gbug-vs-gdx Free to use with attribution; the underlying files are at Open data.