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

GDX has 12% of its weight in S&P 500 names and GUNR has 27%, so GDX differs more from the index.

Which is cheaper, GDX or GUNR?

GDX charges 0.51% a year and GUNR charges 0.46%, so GUNR is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

GDX vs GUNR: Holdings Overlap & Returns

Share on X Download as PDF

GUNR holds 27.1% of its weight in S&P 500 companies and GDX 11.6%.

askIQ about this page

askIQ about GDX and GUNR

Net assets: $23.9bn on Nov 3, 2026 for VanEck Gold Miners ETF, and $7.2bn on Jul 31, 2026 for Northern Trust Morningstar Global Upstream Natural Resources ETF.

GDX on its own →GUNR on its own →

At a glance

11.6%

GDX in the S&P 500

27.1%

GUNR in the S&P 500

+24.8%

GDX total return, 1 year

+26.8%

GUNR 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.

GUNR · 1 year to Nov 4, 2026 73% of its weight is outside the S&P 500

27% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

GUNR costs 0.05 points a year less; their one-year returns differ by 2.0 points.

Points (pts) are percentage points.

GDX vs GUNR: Holdings Overlap & Returns
Measure	GDX	GUNR
Return
Measure	GDX	GUNR
Total return, 1 year	+24.8%	+26.8%
Drawdown
Measure	GDX	GUNR
Below its all-time high	27.0%, high on Feb 27, 2026	7.5%, high on Sep 9, 2026
Against its benchmark
Measure	GDX	GUNR
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
Measure	GDX	GUNR
Expense ratio	0.51%	0.46%
Net assets, GDX as of Nov 3, 2026 and GUNR as of Jul 31, 2026	$23.9bn	$7.2bn
Holdings
Measure	GDX	GUNR
Holdings in common	not published

Method

Window by window

Window by window: GDX vs GUNR: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	GDX	GUNR	GDX	GUNR
3 months	+1.1%	+1.3%	+2.4 pts vs ACWI	not measured
6 months	−8.5%	−2.5%	−11.1 pts vs ACWI	not measured
1 year	+24.8%	+26.8%	+9.8 pts vs ACWI	not measured
3 years	+197.2%	+45.4%	+119.6 pts vs ACWI	not measured
Since launchNot the same days: GDX May 2006 · GUNR Sep 2011	+175.1%	+149.3%	not measured	not measured

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 GUNR Northern Trust Morningstar Global Upstream Natural Resources ETF · Holds 135 stocks in natural resources, 27% of its weight in S&P 500 companies

Issuer VanEck Northern Trust

Theme Gold miners Natural resources

In the S&P 500 11.6% 27.1%

Active share vs the S&P 500 99.8% 98.3%

In the Nasdaq-100 0.0% 0.4%

Holdings 59 135

Top ten, share of the fund 60.4% 36.6%

Expense ratio 0.51% 0.46%

Fee for the differing part 0.51% 0.47%

Total return, 1 year +24.8% +26.8%

vs its benchmark +9.8 pts vs ACWI not measured

Below its high −27.0% −7.5%

Net assets, GDX as of Nov 3, 2026 and GUNR as of Jul 31, 2026 $23.9bn $7.2bn

As of Nov 4, 2026. Source: ETFIQ.

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.

GUNR

By weight, 27% of GUNR'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 37% of the fund across 135 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +26.8% with distributions reinvested. It sits 7.5% below its all-time high of Sep 9, 2026.

Questions people ask

Which is more different from the S&P 500, GDX or GUNR?: GDX has 12% of its weight in S&P 500 names and GUNR has 27%, so GDX differs more from the index.
Which is cheaper, GDX or GUNR?: GDX charges 0.51% a year and GUNR charges 0.46%, so GUNR is cheaper. Fees come from each fund's prospectus.

Other comparisons

GDX vs GNR GDX vs GRID GDX vs XT GDX vs IDEF GUNR vs GDXJ GUNR vs PAVE GUNR vs SOXX GUNR vs IGV

Where to next

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

Sources and dates

GDX filings on SEC EDGAR ↗

GDX prospectus with the expense ratio (SEC) ↗

VanEck website ↗

GUNR filings on SEC EDGAR ↗

GUNR prospectus with the expense ratio (SEC) ↗

Northern Trust website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

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

Open data →

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