Data as of Nov 4, 2026.
GDX vs GNR: Holdings Overlap & Returns
Over the year to Nov 4, 2026, GDX returned +24.8% to GNR's +32.9%; 11% of their weight is in the same names.
askIQ about this page
askIQ about GDX and GNR
Net assets on Nov 3, 2026: $23.9bn for VanEck Gold Miners ETF and $5.3bn for State Street SPDR S&P Global Natural Resources ETF.
12% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Nov 2, 2026.
26% of GNR's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
GNR costs 0.11 points a year less; their one-year returns differ by 8.1 points; GDX is 4.5 times larger.
Points (pts) are percentage points.
| Measure | GDX | GNR |
|---|---|---|
| Return | ||
| Total return, 1 year | +24.8% | +32.9% |
| Drawdown | ||
| Below its all-time high | 27.0%, high on Feb 27, 2026 | 6.8%, high on Sep 9, 2026 |
| Against its benchmark | ||
| What it tracks | Gold miners | Natural resources |
| Its benchmark, total return, 1 year | +15.0% | |
| Against its benchmark, 1 year | ahead by 9.8 pts | |
| Cost and size | ||
| Expense ratio | 0.51% | 0.40% |
| Net assets, as of Nov 3, 2026 | $23.9bn | $5.3bn |
| Holdings | ||
| Holdings in common | 11% | |
| Top ten holdings, share of the fund | 60% | 36% |
What they share
By the books each fund has filed, GDX and GNR hold 11% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
11% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GDX | GNR | GDX | GNR |
| 3 months | +1.1% | +1.4% | +2.4 pts vs ACWI | not measured |
| 6 months | −8.5% | +0.4% | −11.1 pts vs ACWI | not measured |
| 1 year | +24.8% | +32.9% | +9.8 pts vs ACWI | not measured |
| 3 years | +197.2% | +50.3% | +119.6 pts vs ACWI | not measured |
| Since launchNot the same days: GDX May 2006 · GNR Sep 2010 | +175.1% | +138.2% | not measured | not measured |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
11% of the two portfolios are the same securities at the same weight.
Client brief:
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
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.
GNR
By weight, 26% of GNR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 36% of the fund across 104 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +32.9% with distributions reinvested. It sits 6.8% below its all-time high of Sep 9, 2026.
Questions people ask
- Do GDX and GNR hold the same stocks?
- By their latest filings, 11% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
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, GDX against GNR, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gdx-vs-gnr
ETFIQ. (Nov 4, 2026). GDX against GNR. Retrieved from https://etfiq.com/compare/themes/gdx-vs-gnr
[GDX against GNR (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/gdx-vs-gnr)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.