Data as of Oct 28, 2026.
GDX vs SHLD: Holdings Overlap & Returns
Over the year to Oct 28, 2026, GDX returned +19.0% to SHLD's −6.5%; 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 $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF.
12% of GDX's weight is in S&P 500 companies and 88% is outside the index. Holdings as of Oct 22, 2026.
45% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 2026.
Pair scorecard
SHLD costs 0.01 points a year less; their one-year returns differ by 25.5 points; GDX is 4.2 times larger.
Points (pts) are percentage points.
| Measure | GDX | SHLD |
|---|---|---|
| Return | ||
| Total return, 1 year | +19.0% | −6.5% |
| Drawdown | ||
| Below its all-time high | 27.5%, high on Feb 27, 2026 | 18.6%, high on Mar 9, 2026 |
| Against its benchmark | ||
| What it tracks | Gold miners | Defense |
| 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% | 0.50% |
| Net assets, as of Oct 12, 2026 | $26.6bn | $6.3bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, GDX and SHLD hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GDX | SHLD | GDX | SHLD |
| 3 months | +14.1% | +2.0% | +9.7 pts vs ACWI | not measured |
| 6 months | −2.6% | −4.7% | −10.0 pts vs ACWI | not measured |
| 1 year | +19.0% | −6.5% | +5.6 pts vs ACWI | not measured |
| 3 years | +197.7% | +156.5% | +108.8 pts vs ACWI | not measured |
| Since launchNot the same days: GDX May 2006 · SHLD Sep 2023 | +173.0% | +160.2% | 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
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.
SHLD
By weight, 45% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 59% of the fund across 48 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned −6.5% with distributions reinvested. It sits 18.6% below its all-time high of Mar 9, 2026.
Questions people ask
- Do GDX and SHLD 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 SHLD, data as of Oct 28, 2026. https://etfiq.com/compare/themes/gdx-vs-shld
ETFIQ. (Oct 28, 2026). GDX against SHLD. Retrieved from https://etfiq.com/compare/themes/gdx-vs-shld
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