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Data as of Oct 28, 2026.

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Thematic ETFs

GDX vs NLR: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, GDX returned +19.0% to NLR's −35.8%; 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 $3.1bn on Oct 26, 2026 for VanEck Uranium and Nuclear ETF.

GDX on its own →NLR on its own →
At a glance
11.7%
GDX in the S&P 500
15.1%
NLR in the S&P 500
+19.0%
GDX total return, 1 year
−35.8%
NLR total return, 1 year
GDX · 1 year to Oct 28, 2026 88% of its weight is outside the S&P 500
88% of its weight is outside the S&P 50012% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Oct 22, 2026.12%88%inof its weight outside the S&P 500active share 100% · top ten 60% of the fund · 59 holdings as published by its issuer for Oct 22, 2026 · Nasdaq-100: 0% in88% of its weight is outside the S&P 50012% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Oct 22, 2026.12%88%inof its weight outside the S&P 500active share 100% · Nasdaq-100: 0% in

12% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Oct 22, 2026.

NLR · 1 year to Oct 28, 2026 85% of its weight is outside the S&P 500
85% of its weight is outside the S&P 50015% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.15%85%in the S&P 500of its weight outside the S&P 500active share 100% · top ten 61% of the fund · 25 holdings as filed for Jun 30, 2026 · Nasdaq-100: 8% in85% of its weight is outside the S&P 50015% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.15%85%inof its weight outside the S&P 500active share 100% · Nasdaq-100: 8% in

15% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

GDX costs 0.01 points a year less; their one-year returns differ by 54.8 points; GDX is 8.2 times larger.

Points (pts) are percentage points.

GDX vs NLR: Holdings Overlap & Returns
MeasureGDXNLR
Return
Total return, 1 year+19.0%−35.8%
Drawdown
Below its all-time high27.5%, high on Feb 27, 202641.6%, high on Jan 28, 2026
Against its benchmark
What it tracksGold minersNuclear and uranium
Its benchmark, total return, 1 year+13.4%+13.4%
Against its benchmark, 1 yearahead by 5.6 ptsbehind by 49.2 pts
Cost and size
Expense ratio0.51%0.52%
Net assets, as of Oct 23, 2026$24.7bn$3.0bn
Holdings
Holdings in common0%

Holdings in common uses holdings dated Jun 30, 2026 and Oct 27, 2026. Method

What they share

0%

By the books each fund has filed, GDX and NLR hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GDX NLR
Only in one fund ↓
Only in GDX
Agnico Eagle Mines Ltd 11.45%
Newmont Corp 11.42%
Barrick Mining Corp 8.07%
Wheaton Precious Metals Corp 5.50%
Franco-Nevada Corp 5.33%
Anglogold Ashanti Plc 4.78%
Gold Fields Ltd 3.96%
Kinross Gold Corp 3.88%
Only in NLR
Cameco Corp 8.41%
Constellation Energy Corp 8.04%
Public Service Enterprise Group Inc 7.09%
BWX Technologies Inc 6.78%
Fortum Oyj 5.75%
Oklo Inc 5.22%
Centrus Energy Corp 5.05%
Uranium Energy Corp 4.99%
Check overlap with more funds →

Window by window

Window by window: GDX vs NLR: Holdings Overlap & Returns
Total returnvs its benchmark
WindowGDXNLRGDXNLR
3 months+14.1%−6.5%+9.7 pts vs ACWI−10.9 pts vs ACWI
6 months−2.6%−30.2%−10.0 pts vs ACWI−37.6 pts vs ACWI
1 year+19.0%−35.8%+5.6 pts vs ACWI−49.2 pts vs ACWI
3 years+197.7%+54.0%+108.8 pts vs ACWI−34.9 pts vs ACWI
Since launchNot the same days: GDX May 2006 · NLR Aug 2007+173.0%+66.1%not measurednot measured

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Side by side

GDX VanEck Gold Miners ETF · Holds 59 stocks in gold miners, 12% of its weight in S&P 500 companies NLR VanEck Uranium and Nuclear ETF · Holds 25 stocks in nuclear and uranium, 15% of its weight in S&P 500 companies
Issuer VanEck VanEck
Theme Gold miners Nuclear and uranium
In the S&P 500 11.7% 15.1%
Active share vs the S&P 500 99.8% 99.8%
In the Nasdaq-100 0.0% 8.0%
Holdings 59 25
Top ten, share of the fund 60.1% 61.1%
Expense ratio 0.51% 0.52%
Fee for the differing part 0.51% 0.52%
Total return, 1 year +19.0% −35.8%
vs its benchmark +5.6 pts vs ACWI −49.2 pts vs ACWI
Below its high −27.5% −41.6%
Net assets, GDX as of Oct 27, 2026 and NLR as of Oct 26, 2026 $25.6bn $3.1bn

As of Oct 28, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

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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 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.

NLR

By weight, 15% of NLR'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 61% of the fund across 25 positions, as filed for Jun 30, 2026. Over the year to Oct 28, 2026 the fund returned −35.8% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was behind by 49.2 pts. It sits 41.6% below its all-time high of Jan 28, 2026.

Questions people ask

Do GDX and NLR 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.
Which is more different from the S&P 500, GDX or NLR?
GDX has 12% of its weight in S&P 500 names and NLR has 15%, so GDX differs more from the index.
Which is cheaper, GDX or NLR?
GDX charges 0.51% a year and NLR charges 0.52%, so GDX is cheaper. Fees come from each fund's prospectus.
Other comparisons
GDX vs URAGDX vs BOTZGDX vs ARKGGDX vs KWEBNLR vs GDXJNLR vs BOTZNLR vs ARKGNLR vs URNM
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GDX on its own →NLR on its own →GDX dividend history →GDX holdings →NLR dividend history →NLR holdings →Method →Standards and sources →
Sources and dates
GDX and NLR filings on SEC EDGAR ↗
GDX and NLR prospectus with the expense ratio (SEC) ↗
VanEck website ↗

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 NLR, data as of Oct 28, 2026. https://etfiq.com/compare/themes/gdx-vs-nlr

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