Do GDX and GOEX hold the same stocks?

By their latest filings, 21% 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, GDX or GOEX?

GDX has 12% of its weight in S&P 500 names and GOEX has 0%, so GOEX differs more from the index.

Which is cheaper, GDX or GOEX?

GDX charges 0.51% a year and GOEX charges 0.65%, so GDX is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

GDX vs GOEX: Holdings Overlap & Returns

Share on X Download as PDF

Over the year to Nov 4, 2026, GDX returned +24.8% to GOEX's +23.8%; 21% of their weight is in the same names.

askIQ about this page

askIQ about GDX and GOEX

Net assets: $23.9bn on Nov 3, 2026 for VanEck Gold Miners ETF, and $121m on Oct 12, 2026 for Global X Gold Explorers ETF.

GDX on its own →GOEX on its own →

At a glance

11.6%

GDX in the S&P 500

0.0%

GOEX in the S&P 500

+24.8%

GDX total return, 1 year

+23.8%

GOEX total return, 1 year

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.

GOEX · 1 year to Nov 4, 2026 100% of its weight is outside the S&P 500

0% of GOEX's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

GDX costs 0.14 points a year less; their one-year returns differ by 1.0 point; GDX is far larger, $26.6bn against $121m.

Points (pts) are percentage points.

GDX vs GOEX: Holdings Overlap & Returns
Measure	GDX	GOEX
Return
Measure	GDX	GOEX
Total return, 1 year	+24.8%	+23.8%
Drawdown
Measure	GDX	GOEX
Below its all-time high	27.0%, high on Feb 27, 2026	30.4%, high on Mar 2, 2026
Against its benchmark
Measure	GDX	GOEX
What it tracks	Gold miners	Gold miners
Its benchmark, total return, 1 year	+15.0%	+15.0%
Against its benchmark, 1 year	ahead by 9.8 pts	ahead by 8.8 pts
Cost and size
Measure	GDX	GOEX
Expense ratio	0.51%	0.65%
Net assets, as of Oct 12, 2026	$26.6bn	$121m
Holdings
Measure	GDX	GOEX
Holdings in common	21%

Method

Risk and return

Nov 12, 2010 to Oct 30, 2026 · 833 weekly returns · each against ACWI

GDX GOEX

Return

Total return edge GDX +49.5% +0.9%

Annualized edge GDX +2.5% +0.1%

Price return edge GDX +28.3% −47.4%

Risk

Volatility edge GDX 36.7% 41.4%

Max drawdown edge GDX −79.2% −88.4%

Downside capture 73.6% 91.1%

Beta 0.72 0.89

Risk-adjusted

Sharpe edge GDX 0.21 0.17

Sortino edge GDX 0.30 0.25

Treynor 0.107 0.081

Calmar edge GDX 0.03 0.00

Against the benchmark

Alpha +0.9% a year −1.2% a year

Alpha t-stat 0.11 −0.12

Information ratio −0.05 −0.06

Tracking error 35.1% 38.9%

Reading

From Nov 2010 to Oct 2026, GDX returned more: +49.5% to +0.9%. GDX swung less: 36.7% to 41.4%. GDX fell less at its worst: −79.2% to −88.4%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: GDX vs GOEX: Holdings Overlap & Returns
Measure	GDX	GOEX	ACWI	Edge	How it is measured
Return
Total return	+49.5%	+0.9%		GDX	Price change plus distributions, reinvested.
Annualized	+2.5%	+0.1%		GDX	Total return as a yearly rate.
Price return	+28.3%	−47.4%		GDX	Price change alone, distributions left out.
Risk
Volatility	36.7%	41.4%		GDX	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	25.3%	29.0%		GDX	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−79.2%	−88.4%		GDX	Deepest fall from a high to the low after it.
Upside capture	46.1%	59.6%	100.0%	GOEX	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	73.6%	91.1%	100.0%	GDX	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.72	0.89	1.00	GDX lower	How far it moves for each 1% its benchmark moves.
R squared	0.10	0.12	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.21	0.17		GDX	Return above Treasury bills per unit of volatility.
Sortino	0.30	0.25		GDX	Return above Treasury bills per unit of downside deviation.
Treynor	0.107	0.081	0.094	GDX	Return above Treasury bills per unit of beta.
Calmar	0.03	0.00		GDX	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	ACWI	ACWI	ACWI		The ETF each fund is measured against.
Alpha	+0.9% a year	−1.2% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.11	−0.12		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−16.2% to +18.1%	−20.3% to +17.9%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−0.05	−0.06		GDX (slight)	Return against its benchmark per unit of tracking error.
Tracking error	35.1%	38.9%	0.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 833 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

21%

By the books each fund has filed, GDX and GOEX hold 21% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

21% in common

Positions both hold · largest shared weight first GDX GOEX

Equinox Gold Corp 1.86% 3.24%

Coeur Mining Inc 1.83% 4.09%

Alamos Gold Inc 1.77% 3.07%

Hecla Mining Co 1.15% 4.94%

Lundin Gold Inc 1.12% 3.56%

G Mining Ventures Corp 0.96% 3.33%

Oceanagold Corp 0.86% 3.55%

Eldorado Gold Corp 0.83% 3.82%

Ssr Mining Inc 0.76% 3.29%

Discovery Mining Ltd 0.73% 2.57%

Perseus Mining Ltd 0.71% 2.93%

Ramelius Resources Ltd 0.66% 2.56%

Only in one fund ↓

Only in GDX

Newmont Corp 11.67%

Agnico Eagle Mines Ltd 11.35%

Barrick Mining Corp 8.16%

Wheaton Precious Metals Corp 5.50%

Franco-Nevada Corp 5.46%

Anglogold Ashanti Plc 4.81%

Gold Fields Ltd 4.11%

Kinross Gold Corp 3.60%

Only in GOEX

DPM Metals Inc. 4.83%

TOREX GOLD RESOURCES INC. 2.34%

PT Bumi Resources Minerals Tbk 1.82%

WESDOME GOLD MINES LTD. 1.78%

ORLA MINING LTD 1.76%

FORTUNA MINING CORP. 1.64%

PAN AFRICAN RESOURCES PLC 1.34%

Perpetua Resources Corp 1.33%

Check overlap with more funds →

Window by window

Window by window: GDX vs GOEX: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	GDX	GOEX	GDX	GOEX
3 months	+1.1%	−3.8%	+2.4 pts vs ACWI	−2.5 pts vs ACWI
6 months	−8.5%	−11.1%	−11.1 pts vs ACWI	−13.7 pts vs ACWI
1 year	+24.8%	+23.8%	+9.8 pts vs ACWI	+8.8 pts vs ACWI
3 years	+197.2%	+233.2%	+119.6 pts vs ACWI	+155.6 pts vs ACWI
Since launchNot the same days: GDX May 2006 · GOEX Nov 2010	+175.1%	+9.8%	not measured	−359.4 pts vs ACWI

Open this comparison in the app →

Side by side

GDX VanEck Gold Miners ETF · Holds 59 stocks in gold miners, 12% of its weight in S&P 500 companies GOEX Global X Gold Explorers ETF · Holds 52 stocks in gold miners, 0% of its weight in S&P 500 companies

Issuer VanEck Global X

Theme Gold miners Gold miners

In the S&P 500 11.6% 0.0%

Active share vs the S&P 500 99.8% 100.0%

In the Nasdaq-100 0.0% 0.0%

Holdings 59 52

Top ten, share of the fund 60.4% 37.7%

Expense ratio 0.51% 0.65%

Fee for the differing part 0.51% 0.65%

Total return, 1 year +24.8% +23.8%

vs its benchmark +9.8 pts vs ACWI +8.8 pts vs ACWI

Below its high −27.0% −30.4%

Net assets, GDX as of Nov 3, 2026 and GOEX as of Oct 12, 2026 $23.9bn $121m

As of Nov 4, 2026. Source: ETFIQ.

21% 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.

Your saved page · Privacy.

Alert

About each fund

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.

GOEX

By weight, 0% of GOEX'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 38% of the fund across 52 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +23.8% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 8.8 pts. It sits 30.4% below its all-time high of Mar 2, 2026.

Questions people ask

Do GDX and GOEX hold the same stocks?: By their latest filings, 21% 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, GDX or GOEX?: GDX has 12% of its weight in S&P 500 names and GOEX has 0%, so GOEX differs more from the index.
Which is cheaper, GDX or GOEX?: GDX charges 0.51% a year and GOEX charges 0.65%, so GDX is cheaper. Fees come from each fund's prospectus.

Other comparisons

GDX vs GDXJ GDX vs AUAU GDX vs GBUG GDX vs SGDJ GOEX vs AUAU GOEX vs RING GOEX vs AUMI GOEX vs GDXJ

Where to next

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

Sources and dates

GDX filings on SEC EDGAR ↗

GDX prospectus with the expense ratio (SEC) ↗

VanEck website ↗

GOEX filings on SEC EDGAR ↗

GOEX prospectus with the expense ratio (SEC) ↗

Global X page for GOEX ↗

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 GOEX, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gdx-vs-goex

Open data →

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