Do GDX and RING hold the same stocks?

By their latest filings, 68% 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 RING?

GDX has 12% of its weight in S&P 500 names and RING has 18%, so GDX differs more from the index.

Which is cheaper, GDX or RING?

GDX charges 0.51% a year and RING charges 0.39%, so RING is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

GDX vs RING: Holdings Overlap & Returns

Share on X Download as PDF

Over the year to Nov 4, 2026, GDX returned +24.8% to RING's +28.4%; 68% of their weight is in the same names.

askIQ about this page

askIQ about GDX and RING

Net assets: $23.9bn on Nov 3, 2026 for VanEck Gold Miners ETF, and $2.3bn on Nov 4, 2026 for iShares MSCI Global Gold Miners ETF.

GDX on its own →RING on its own →

At a glance

11.6%

GDX in the S&P 500

17.6%

RING in the S&P 500

+24.8%

GDX total return, 1 year

+28.4%

RING 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.

RING · 1 year to Nov 4, 2026 82% of its weight is outside the S&P 500

18% of RING's weight is in S&P 500 companies and 82% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

RING costs 0.12 points a year less; their one-year returns differ by 3.6 points; GDX is 11.4 times larger.

Points (pts) are percentage points.

GDX vs RING: Holdings Overlap & Returns
Measure	GDX	RING
Return
Measure	GDX	RING
Total return, 1 year	+24.8%	+28.4%
Drawdown
Measure	GDX	RING
Below its all-time high	27.0%, high on Feb 27, 2026	25.1%, high on Feb 27, 2026
Against its benchmark
Measure	GDX	RING
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 13.4 pts
Cost and size
Measure	GDX	RING
Expense ratio	0.51%	0.39%
Net assets, as of Nov 3, 2026	$23.9bn	$2.1bn
Holdings
Measure	GDX	RING
Holdings in common	68%

Method

Risk and return

Feb 10, 2012 to Oct 30, 2026 · 768 weekly returns · each against ACWI

GDX RING

Return

Total return edge Tie +61.5% +62.1%

Annualized edge Tie +3.3% +3.3%

Price return edge GDX +41.5% +35.2%

Risk

Volatility edge Tie 36.9% 37.2%

Max drawdown edge GDX (slight) −76.1% −78.7%

Downside capture 68.6% 70.7%

Beta 0.71 0.74

Risk-adjusted

Sharpe edge Tie 0.23 0.23

Sortino edge Tie 0.33 0.33

Treynor 0.118 0.114

Calmar edge Tie 0.04 0.04

Against the benchmark

Alpha +1.5% a year +1.2% a year

Alpha t-stat 0.16 0.13

Information ratio −0.04 −0.04

Tracking error 35.6% 35.6%

Reading

From Feb 2012 to Oct 2026, GDX and RING returned about the same: +61.5% and +62.1%. GDX and RING swung about the same: 36.9% and 37.2%. GDX fell slightly less at its worst: −76.1% to −78.7%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: GDX vs RING: Holdings Overlap & Returns
Measure	GDX	RING	ACWI	Edge	How it is measured
Return
Total return	+61.5%	+62.1%		Tie	Price change plus distributions, reinvested.
Annualized	+3.3%	+3.3%		Tie	Total return as a yearly rate.
Price return	+41.5%	+35.2%		GDX	Price change alone, distributions left out.
Risk
Volatility	36.9%	37.2%		Tie	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	25.5%	25.4%		Tie	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−76.1%	−78.7%		GDX (slight)	Deepest fall from a high to the low after it.
Upside capture	42.9%	44.7%	100.0%	RING (slight)	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	68.6%	70.7%	100.0%	GDX (slight)	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.71	0.74	1.00	GDX lower	How far it moves for each 1% its benchmark moves.
R squared	0.09	0.09	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.23	0.23		Tie	Return above Treasury bills per unit of volatility.
Sortino	0.33	0.33		Tie	Return above Treasury bills per unit of downside deviation.
Treynor	0.118	0.114	0.098	GDX (slight)	Return above Treasury bills per unit of beta.
Calmar	0.04	0.04		Tie	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	+1.2% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.16	0.13		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−16.6% to +19.6%	−17.0% to +19.4%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−0.04	−0.04		RING (slight)	Return against its benchmark per unit of tracking error.
Tracking error	35.6%	35.6%	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

68%

By the books each fund has filed, GDX and RING hold 68% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

68% in common

Positions both hold · largest shared weight first GDX RING

Newmont Corp 11.67% 17.65%

Agnico Eagle Mines Ltd 11.35% 12.79%

Barrick Mining Corp 8.16% 8.72%

Wheaton Precious Metals Corp 5.50% 7.33%

Anglogold Ashanti Plc 4.81% 4.40%

Gold Fields Ltd 4.11% 4.51%

Kinross Gold Corp 3.60% 3.74%

Pan American Silver Corp 2.57% 3.02%

Equinox Gold Corp 1.86% 2.47%

Coeur Mining Inc 1.83% 2.84%

Alamos Gold Inc 1.77% 2.36%

Iamgold Corp 1.23% 2.11%

Only in one fund ↓

Only in GDX

Franco-Nevada Corp 5.46%

Northern Star Resources Ltd 3.21%

Royal Gold Inc 2.21%

Evolution Mining Ltd 1.56%

Industrias Penoles Sab De Cv 1.31%

First Majestic Silver Corp 1.15%

Hecla Mining Co 1.15%

Fresnillo Plc 1.01%

Only in RING

HARMONY GOLD MINING COMPANY LIMITE 1.92%

TOREX RESOURCES 1.27%

CHINA GOLD INTERNATIONAL RESOURCES 1.11%

WESDOME GOLD MINES LTD 0.93%

PAN AFRICAN RESOURCES PLC 0.85%

EMERALD RESOURCES 0.75%

WEST AFRICAN RESOURCES LTD 0.70%

DRDGOLD LTD 0.64%

Check overlap with more funds →

Window by window

Window by window: GDX vs RING: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	GDX	RING	GDX	RING
3 months	+1.1%	+2.4%	+2.4 pts vs ACWI	+3.7 pts vs ACWI
6 months	−8.5%	−7.2%	−11.1 pts vs ACWI	−9.8 pts vs ACWI
1 year	+24.8%	+28.4%	+9.8 pts vs ACWI	+13.4 pts vs ACWI
3 years	+197.2%	+233.8%	+119.6 pts vs ACWI	+156.2 pts vs ACWI
Since launchNot the same days: GDX May 2006 · RING Feb 2012	+175.1%	+74.0%	not measured	−293.7 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 RING iShares MSCI Global Gold Miners ETF · Holds 41 stocks in gold miners, 18% of its weight in S&P 500 companies

Issuer VanEck iShares

Theme Gold miners Gold miners

In the S&P 500 11.6% 17.6%

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

In the Nasdaq-100 0.0% 0.0%

Holdings 59 41

Top ten, share of the fund 60.4% 67.5%

Expense ratio 0.51% 0.39%

Fee for the differing part 0.51% 0.39%

Total return, 1 year +24.8% +28.4%

vs its benchmark +9.8 pts vs ACWI +13.4 pts vs ACWI

Below its high −27.0% −25.1%

Net assets, GDX as of Nov 3, 2026 and RING as of Nov 4, 2026 $23.9bn $2.3bn

As of Nov 4, 2026. Source: ETFIQ.

68% of the two portfolios are the same securities at the same weight.

Client brief: a two-page PDF of this comparison.

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.

RING

By weight, 18% of RING'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 68% of the fund across 41 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +28.4% with distributions reinvested against +15.0% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 13.4 pts. It sits 25.1% below its all-time high of Feb 27, 2026.

Questions people ask

Do GDX and RING hold the same stocks?: By their latest filings, 68% 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 RING?: GDX has 12% of its weight in S&P 500 names and RING has 18%, so GDX differs more from the index.
Which is cheaper, GDX or RING?: GDX charges 0.51% a year and RING charges 0.39%, so RING is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

Where to next

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

Sources and dates

GDX filings on SEC EDGAR ↗

GDX prospectus with the expense ratio (SEC) ↗

VanEck website ↗

RING filings on SEC EDGAR ↗

RING prospectus with the expense ratio (SEC) ↗

iShares page for RING ↗

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

Open data →

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