Data as of Nov 4, 2026.
GDX vs PICK: Holdings Overlap & Returns
Over the year to Nov 4, 2026, GDX returned +24.8% to PICK's +28.0%; 0% of their weight is in the same names.
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Net assets on Nov 3, 2026: $23.9bn for VanEck Gold Miners ETF and $2.1bn for iShares MSCI Global Metals & Mining Producers ETF.
12% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Nov 2, 2026.
13% of PICK's weight is in S&P 500 companies and 87% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
PICK costs 0.12 points a year less; their one-year returns differ by 3.2 points; GDX is 11.4 times larger.
Points (pts) are percentage points.
| Measure | GDX | PICK |
|---|---|---|
| Return | ||
| Total return, 1 year | +24.8% | +28.0% |
| Drawdown | ||
| Below its all-time high | 27.0%, high on Feb 27, 2026 | 18.4%, high on Jun 2, 2026 |
| Against its benchmark | ||
| What it tracks | Gold miners | Miners and metals |
| Its benchmark, total return, 1 year | +15.0% | +15.0% |
| Against its benchmark, 1 year | ahead by 9.8 pts | ahead by 13.0 pts |
| Cost and size | ||
| Expense ratio | 0.51% | 0.39% |
| Net assets, as of Nov 3, 2026 | $23.9bn | $2.1bn |
| Holdings | ||
| Holdings in common | 0% | |
Risk and return
Feb 10, 2012 to Oct 30, 2026 · 768 weekly returns · each against ACWIFrom Feb 2012 to Oct 2026, PICK returned more: +94.6% to +61.5%. PICK swung less: 28.6% to 36.9%. PICK fell less at its worst: −67.4% to −76.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GDX | PICK | ACWI | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +61.5% | +94.6% | PICK | Price change plus distributions, reinvested. | |
| Annualized | +3.3% | +4.6% | PICK | Total return as a yearly rate. | |
| Price return | +41.5% | +8.3% | GDX | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 36.9% | 28.6% | PICK | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 25.5% | 19.6% | PICK | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −76.1% | −67.4% | PICK | Deepest fall from a high to the low after it. | |
| Upside capture | 42.9% | 145.4% | 100.0% | PICK | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 68.6% | 127.6% | 100.0% | GDX | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.71 | 1.36 | 1.00 | GDX lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.09 | 0.53 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.23 | 0.24 | PICK (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.33 | 0.35 | PICK (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.118 | 0.050 | 0.098 | GDX | Return above Treasury bills per unit of beta. |
| Calmar | 0.04 | 0.07 | PICK | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | ACWI | ACWI | ACWI | The ETF each fund is measured against. | |
| Alpha | +1.5% a year | −6.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.16 | −1.26 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −16.6% to +19.6% | −16.5% to +3.6% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.04 | −0.14 | GDX | Return against its benchmark per unit of tracking error. | |
| Tracking error | 35.6% | 20.3% | 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, 768 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GDX and PICK hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GDX | PICK | GDX | PICK |
| 3 months | +1.1% | −11.8% | +2.4 pts vs ACWI | −10.5 pts vs ACWI |
| 6 months | −8.5% | −12.8% | −11.1 pts vs ACWI | −15.4 pts vs ACWI |
| 1 year | +24.8% | +28.0% | +9.8 pts vs ACWI | +13.0 pts vs ACWI |
| 3 years | +197.2% | +57.0% | +119.6 pts vs ACWI | −20.6 pts vs ACWI |
| Since launchNot the same days: GDX May 2006 · PICK Feb 2012 | +175.1% | +93.0% | not measured | −274.7 pts vs ACWI |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
Client brief:
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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 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.
PICK
By weight, 13% of PICK'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 49% of the fund across 259 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +28.0% with distributions reinvested against +15.0% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 13.0 pts. It sits 18.4% below its all-time high of Jun 2, 2026.
Questions people ask
- Do GDX and PICK 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 PICK, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gdx-vs-pick
ETFIQ. (Nov 4, 2026). GDX against PICK. Retrieved from https://etfiq.com/compare/themes/gdx-vs-pick
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