Do PICK and SLX hold the same stocks?

By their latest filings, 33% 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, PICK or SLX?

PICK has 13% of its weight in S&P 500 names and SLX has 14%, so SLX differs more from the index.

Which is cheaper, PICK or SLX?

PICK charges 0.39% a year and SLX charges 0.55%, so PICK is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

PICK vs SLX: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, PICK returned +28.0% to SLX's +32.9%; 33% of their weight is in the same names.

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Net assets on Nov 3, 2026: $2.1bn for iShares MSCI Global Metals & Mining Producers ETF and $150m for VanEck Steel ETF.

PICK on its own →SLX on its own →

At a glance

12.8%

PICK in the S&P 500

13.5%

SLX in the S&P 500

+28.0%

PICK total return, 1 year

+32.9%

SLX total return, 1 year

PICK · 1 year to Nov 4, 2026 87% of its weight is outside the S&P 500

13% of PICK's weight is in S&P 500 companies and 87% is outside the index. Holdings as of Nov 3, 2026.

SLX · 1 year to Nov 4, 2026 87% of its weight is outside the S&P 500

14% of SLX's weight is in S&P 500 companies and 87% is outside the index. Holdings as of Nov 2, 2026.

Pair scorecard

PICK costs 0.16 points a year less; their one-year returns differ by 4.9 points; PICK is 14.0 times larger.

Points (pts) are percentage points.

PICK vs SLX: Holdings Overlap & Returns
Measure	PICK	SLX
Return
Measure	PICK	SLX
Total return, 1 year	+28.0%	+32.9%
Drawdown
Measure	PICK	SLX
Below its all-time high	18.4%, high on Jun 2, 2026	12.2%, high on Jun 2, 2026
Against its benchmark
Measure	PICK	SLX
What it tracks	Miners and metals	Miners and metals
Its benchmark, total return, 1 year	+15.0%	+15.0%
Against its benchmark, 1 year	ahead by 13.0 pts	ahead by 17.9 pts
Cost and size
Measure	PICK	SLX
Expense ratio	0.39%	0.55%
Net assets, as of Nov 3, 2026	$2.1bn	$150m
Holdings
Measure	PICK	SLX
Holdings in common	33%

Method

Risk and return

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

PICK SLX

Return

Total return edge SLX +94.6% +188.1%

Annualized edge SLX +4.6% +7.4%

Price return edge SLX +8.3% +78.6%

Risk

Volatility edge PICK (slight) 28.6% 30.2%

Max drawdown edge Tie −67.4% −67.1%

Downside capture 127.6% 129.7%

Beta 1.36 1.43

Risk-adjusted

Sharpe edge SLX 0.24 0.33

Sortino edge SLX 0.35 0.49

Treynor 0.050 0.070

Calmar edge SLX 0.07 0.11

Against the benchmark

Alpha −6.4% a year −4.0% a year

Alpha t-stat −1.26 −0.73

Information ratio −0.14 0.01

Tracking error 20.3% 21.8%

Reading

From Feb 2012 to Oct 2026, SLX returned more: +188.1% to +94.6%. PICK swung slightly less: 28.6% to 30.2%. PICK and SLX fell about the same at their worst: −67.4% and −67.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: PICK vs SLX: Holdings Overlap & Returns
Measure	PICK	SLX	ACWI	Edge	How it is measured
Return
Total return	+94.6%	+188.1%		SLX	Price change plus distributions, reinvested.
Annualized	+4.6%	+7.4%		SLX	Total return as a yearly rate.
Price return	+8.3%	+78.6%		SLX	Price change alone, distributions left out.
Risk
Volatility	28.6%	30.2%		PICK (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	19.6%	20.2%		PICK (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−67.4%	−67.1%		Tie	Deepest fall from a high to the low after it.
Upside capture	145.4%	163.4%	100.0%	SLX	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	127.6%	129.7%	100.0%	Tie	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.36	1.43	1.00	PICK lower	How far it moves for each 1% its benchmark moves.
R squared	0.53	0.53	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.24	0.33		SLX	Return above Treasury bills per unit of volatility.
Sortino	0.35	0.49		SLX	Return above Treasury bills per unit of downside deviation.
Treynor	0.050	0.070	0.098	SLX	Return above Treasury bills per unit of beta.
Calmar	0.07	0.11		SLX	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	ACWI	ACWI	ACWI		The ETF each fund is measured against.
Alpha	−6.4% a year	−4.0% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−1.26	−0.73		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−16.5% to +3.6%	−14.7% to +6.7%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−0.14	0.01		SLX	Return against its benchmark per unit of tracking error.
Tracking error	20.3%	21.8%	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

33%

By the books each fund has filed, PICK and SLX hold 33% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

33% in common

Positions both hold · largest shared weight first PICK SLX

BHP GROUP LTD 13.95% 6.84%

RIO TINTO 6.07% 6.36%

NUCOR 4.24% 7.73%

RIO TINTO 2.63% 4.33%

STEEL DYNAMICS INC 2.37% 5.77%

ARCELORMITTAL SA 1.80% 5.27%

RELIANCE STEEL & ALUMINUM 1.58% 5.67%

NIPPON STEEL 1.40% 4.75%

POSCO 0.99% 3.99%

BLUESCOPE STEEL 0.71% 2.74%

CLEVELAND CLIFFS INC 0.56% 2.45%

COMMERCIAL METALS 0.51% 2.17%

Only in one fund ↓

Only in PICK

FREEPORT MCMORAN INC 6.19%

GLENCORE PLC 4.43%

ANGLO AMERICAN PLC 3.69%

CIA VALE DO RIO DOCE SH 2.80%

GRUPO MEXICO B 2.44%

TECK RESOURCES SUBORDINATE VOTING 1.97%

ZIJIN MINING GROUP LTD H 1.46%

VALTERRA PLATINUM LTD 1.24%

Only in SLX

Vale Sa 5.58%

Tenaris Sa 4.11%

Fortescue Metals Group Ltd 3.97%

Ssab Ab 2.51%

Gerdau Sa 2.21%

Russel Metals Inc 1.40%

Ternium Sa 1.16%

Eregli Demir Ve Celik Fabrikalari Tas 0.90%

Check overlap with more funds →

Window by window

Window by window: PICK vs SLX: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	PICK	SLX	PICK	SLX
3 months	−11.8%	−9.3%	−10.5 pts vs ACWI	−8.0 pts vs ACWI
6 months	−12.8%	−8.1%	−15.4 pts vs ACWI	−10.7 pts vs ACWI
1 year	+28.0%	+32.9%	+13.0 pts vs ACWI	+17.9 pts vs ACWI
3 years	+57.0%	+64.3%	−20.6 pts vs ACWI	−13.3 pts vs ACWI
Since launchNot the same days: PICK Feb 2012 · SLX Oct 2006	+93.0%	+326.1%	−274.7 pts vs ACWI	not measured

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Side by side

PICK iShares MSCI Global Metals & Mining Producers ETF · Holds 259 stocks in miners and metals, 13% of its weight in S&P 500 companies SLX VanEck Steel ETF · Holds 39 stocks in miners and metals, 14% of its weight in S&P 500 companies

Issuer iShares VanEck

Theme Miners and metals Miners and metals

In the S&P 500 12.8% 13.5%

Active share vs the S&P 500 99.7% 99.9%

In the Nasdaq-100 0.0% 0.0%

Holdings 259 39

Top ten, share of the fund 48.8% 56.6%

Expense ratio 0.39% 0.55%

Fee for the differing part 0.39% 0.55%

Total return, 1 year +28.0% +32.9%

vs its benchmark +13.0 pts vs ACWI +17.9 pts vs ACWI

Below its high −18.4% −12.2%

Net assets, as of Nov 3, 2026 $2.1bn $150m

As of Nov 4, 2026. Source: ETFIQ.

33% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

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.

SLX

By weight, 14% of SLX'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 57% of the fund across 39 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +32.9% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 17.9 pts. It sits 12.2% below its all-time high of Jun 2, 2026.

Questions people ask

Do PICK and SLX hold the same stocks?: By their latest filings, 33% 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, PICK or SLX?: PICK has 13% of its weight in S&P 500 names and SLX has 14%, so SLX differs more from the index.
Which is cheaper, PICK or SLX?: PICK charges 0.39% a year and SLX charges 0.55%, so PICK is cheaper. Fees come from each fund's prospectus.

Other comparisons

PICK vs GOAU PICK vs METL PICK vs XME PICK vs NIKL SLX vs GOAU SLX vs METL SLX vs NIKL SLX vs XME

Where to next

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

Sources and dates

PICK filings on SEC EDGAR ↗

PICK prospectus with the expense ratio (SEC) ↗

iShares page for PICK ↗

SLX filings on SEC EDGAR ↗

SLX 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, PICK against SLX, data as of Nov 4, 2026. https://etfiq.com/compare/themes/pick-vs-slx

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