Data as of Oct 28, 2026.
GDX vs KWEB: Holdings Overlap & Returns
Over the year to Oct 28, 2026, GDX returned +19.0% to KWEB's −40.6%; 0% of their weight is in the same names.
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Net assets: $25.6bn on Oct 27, 2026 for VanEck Gold Miners ETF, and $4.3bn on Oct 28, 2026 for KraneShares CSI China Internet ETF.
12% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Oct 22, 2026.
0% of KWEB's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 28, 2026.
Pair scorecard
GDX costs 0.18 points a year less; their one-year returns differ by 59.6 points; GDX is 6.0 times larger.
Points (pts) are percentage points.
| Measure | GDX | KWEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +19.0% | −40.6% |
| Drawdown | ||
| Below its all-time high | 27.5%, high on Feb 27, 2026 | 73.4%, high on Feb 17, 2021 |
| Against its benchmark | ||
| What it tracks | Gold miners | Internet and e-commerce |
| Its benchmark, total return, 1 year | +13.4% | |
| Against its benchmark, 1 year | ahead by 5.6 pts | |
| Cost and size | ||
| Expense ratio | 0.51% | 0.69% |
| Net assets, as of Oct 27, 2026 | $25.6bn | $4.3bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Aug 9, 2013 to Oct 23, 2026 · 689 weekly returnsGDX returned more: +242.3% to +14.8%. KWEB swung slightly less: 35.3% to 37.4%. GDX fell less at its worst: −55.7% to −79.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | GDX | KWEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +242.3% | +14.8% | GDX | Price change plus distributions, reinvested. |
| Annualized | +9.7% | +1.0% | GDX | Total return as a yearly rate. |
| Price return | +203.0% | −10.9% | GDX | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 37.4% | 35.3% | KWEB (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 25.3% | 23.5% | KWEB (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −55.7% | −79.9% | GDX | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.39 | 0.15 | GDX | Return above Treasury bills per unit of volatility. |
| Sortino | 0.57 | 0.22 | GDX | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.17 | 0.01 | GDX | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 689 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GDX and KWEB hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GDX | KWEB | GDX | KWEB |
| 3 months | +14.1% | −17.3% | +9.7 pts vs ACWI | not measured |
| 6 months | −2.6% | −17.9% | −10.0 pts vs ACWI | not measured |
| 1 year | +19.0% | −40.6% | +5.6 pts vs ACWI | not measured |
| 3 years | +197.7% | −3.2% | +108.8 pts vs ACWI | not measured |
| Since launchNot the same days: GDX May 2006 · KWEB Aug 2013 | +173.0% | +12.7% | not measured | not measured |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
GDX and KWEB are built for the same job. How do they differ in cost, holdings and results?
- Theme. GDX covers Gold miners and KWEB covers Internet and e-commerce.
- What each follows. GDX follows Gold miners and KWEB follows Internet and e-commerce.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Oct 28, 2026).
Data as of Oct 28, 2026.
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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 Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +19.0% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 5.6 pts. It sits 27.5% below its all-time high of Feb 27, 2026.
KWEB
By weight, 0% of KWEB'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 62% of the fund across 45 positions, as published by its issuer for Oct 28, 2026. Over the year to Oct 28, 2026 the fund returned −40.6% with distributions reinvested. It sits 73.4% below its all-time high of Feb 17, 2021.
Questions people ask
- Do GDX and KWEB hold the same stocks?
- By their latest filings, 0% 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.
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ETFIQ, GDX against KWEB, data as of Oct 28, 2026. https://etfiq.com/compare/themes/gdx-vs-kweb
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