Do RING and SETM 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, RING or SETM?

RING has 18% of its weight in S&P 500 names and SETM has 9%, so RING differs more from the index.

Which is cheaper, RING or SETM?

RING charges 0.39% a year and SETM charges 0.65%, so RING is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

RING vs SETM: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, RING returned +28.4% to SETM's +3.9%; 0% of their weight is in the same names.

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Net assets on Nov 4, 2026: $2.3bn for iShares MSCI Global Gold Miners ETF and $421m for Sprott Critical Materials ETF.

RING on its own →SETM on its own →

At a glance

17.6%

RING in the S&P 500

9.1%

SETM in the S&P 500

+28.4%

RING total return, 1 year

+3.9%

SETM total return, 1 year

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.

SETM · 1 year to Nov 4, 2026 91% of its weight is outside the S&P 500

9% of SETM's weight is in S&P 500 companies and 91% is outside the index. Holdings as of Nov 4, 2026.

Pair scorecard

RING costs 0.26 points a year less; their one-year returns differ by 24.5 points; RING is 5.5 times larger.

Points (pts) are percentage points.

RING vs SETM: Holdings Overlap & Returns
Measure	RING	SETM
Return
Measure	RING	SETM
Total return, 1 year	+28.4%	+3.9%
Drawdown
Measure	RING	SETM
Below its all-time high	25.1%, high on Feb 27, 2026	37.4%, high on Jan 28, 2026
Against its benchmark
Measure	RING	SETM
What it tracks	Gold miners	Rare earth and critical materials
Against the S&P 500, 1 year		behind by 10.9 pts
Its benchmark, total return, 1 year	+15.0%	+14.8%
Against its benchmark, 1 year	ahead by 13.4 pts	behind by 10.9 pts
Cost and size
Measure	RING	SETM
Expense ratio	0.39%	0.65%
Net assets	$2.3bn	$421m
Holdings
Measure	RING	SETM
Holdings in common	0%

Method

Risk and return

Feb 10, 2023 to Oct 30, 2026 · 194 weekly returns

RING SETM

Return

Total return edge RING +204.5% +34.3%

Annualized edge RING +34.8% +8.2%

Price return edge RING +189.0% +26.5%

Risk

Volatility edge SETM 40.5% 36.2%

Max drawdown edge Tie −38.3% −39.0%

Downside capture 70.7% 129.3%

Beta 0.74 1.48

Risk-adjusted

Sharpe edge RING 0.82 0.27

Sortino edge RING 1.34 0.39

Treynor 0.114 0.067

Calmar edge RING 0.91 0.21

Against the benchmark

Alpha +1.2% a year −11.2% a year

Alpha t-stat 0.13 −0.71

Information ratio −0.04 −0.14

Tracking error 35.6% 30.6%

Each against its own benchmark: RING against ACWI, Feb 10, 2012 to Oct 30, 2026; SETM against VOO, Feb 10, 2023 to Oct 30, 2026.

Reading

From Feb 2023 to Oct 2026, RING returned more: +204.5% to +34.3%. SETM swung less: 36.2% to 40.5%. RING and SETM fell about the same at their worst: −38.3% and −39.0%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: RING vs SETM: Holdings Overlap & Returns
Measure	RING	SETM	Edge	How it is measured
Return
Total return	+204.5%	+34.3%	RING	Price change plus distributions, reinvested.
Annualized	+34.8%	+8.2%	RING	Total return as a yearly rate.
Price return	+189.0%	+26.5%	RING	Price change alone, distributions left out.
Risk
Volatility	40.5%	36.2%	SETM	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	24.8%	25.6%	RING (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−38.3%	−39.0%	Tie	Deepest fall from a high to the low after it.
Upside capture	44.7%	116.9%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	70.7%	129.3%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.74	1.48	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.09	0.32	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.82	0.27	RING	Return above Treasury bills per unit of volatility.
Sortino	1.34	0.39	RING	Return above Treasury bills per unit of downside deviation.
Treynor	0.114	0.067		Return above Treasury bills per unit of beta.
Calmar	0.91	0.21	RING	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	ACWI	VOO		The ETF each fund is measured against.
Alpha	+1.2% a year	−11.2% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.13	−0.71	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−17.0% to +19.4%	−42.0% to +19.7%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.04	−0.14		Return against its benchmark per unit of tracking error.
Tracking error	35.6%	30.6%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 194 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, RING and SETM hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first RING SETM

Only in one fund ↓

Only in RING

NEWMONT 17.65%

AGNICO EAGLE MINES 12.79%

BARRICK MINING 8.72%

WHEATON PRECIOUS METALS 7.33%

GOLD FIELDS 4.51%

ANGLOGOLD ASHANTI PLC 4.40%

KINROSS GOLD 3.74%

PAN AMERICAN SILVER 3.02%

Only in SETM

Freeport-McMoRan Inc. 5.47%

Lynas Rare Earths Ltd. 4.87%

Cameco Corp. 4.81%

NAC Kazatomprom JSC 4.15%

Teck Resources Ltd. 3.95%

Albemarle Corp. 3.61%

Hecla Mining Co. 3.42%

Sociedad Quimica y Minera de Chile SA 3.40%

Check overlap with more funds →

Window by window

Window by window: RING vs SETM: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	RING	SETM	RING	SETM
3 months	+2.4%	−21.2%	+3.7 pts vs ACWI	−21.1 pts vs VOO
6 months	−7.2%	−35.3%	−9.8 pts vs ACWI	−40.3 pts vs VOO
1 year	+28.4%	+3.9%	+13.4 pts vs ACWI	−10.9 pts vs VOO
3 years	+233.8%	+57.7%	+156.2 pts vs ACWI	−25.6 pts vs VOO
Since launchNot the same days: RING Feb 2012 · SETM Feb 2023	+74.0%	+29.5%	−293.7 pts vs ACWI	−64.0 pts vs VOO

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Side by side

RING iShares MSCI Global Gold Miners ETF · Holds 41 stocks in gold miners, 18% of its weight in S&P 500 companies SETM Sprott Critical Materials ETF · Holds 156 stocks in rare earth and critical materials, 9% of its weight in S&P 500 companies

Issuer iShares Sprott

Theme Gold miners Rare earth and critical materials

In the S&P 500 17.6% 9.1%

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

In the Nasdaq-100 0.0% 0.0%

Holdings 41 156

Top ten, share of the fund 67.5% 40.1%

Expense ratio 0.39% 0.65%

Fee for the differing part 0.39% 0.65%

Total return, 1 year +28.4% +3.9%

vs its benchmark +13.4 pts vs ACWI −10.9 pts vs VOO

Below its high −25.1% −37.4%

Net assets $2.3bn $421m

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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About each fund

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.

SETM

By weight, 9% of SETM'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 40% of the fund across 156 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned +3.9% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Total Return Index, so a holder was behind by 10.9 pts. It sits 37.4% below its all-time high of Jan 28, 2026.

Questions people ask

Do RING and SETM 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, RING or SETM?: RING has 18% of its weight in S&P 500 names and SETM has 9%, so RING differs more from the index.
Which is cheaper, RING or SETM?: RING charges 0.39% a year and SETM charges 0.65%, so RING is cheaper. Fees come from each fund's prospectus.

Other comparisons

RING vs REMX RING vs EART RING vs FMTL RING vs WDIG SETM vs AUMI SETM vs AUAU SETM vs GDMN SETM vs GBUG

Where to next

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

Sources and dates

RING filings on SEC EDGAR ↗

RING prospectus with the expense ratio (SEC) ↗

iShares page for RING ↗

SETM filings on SEC EDGAR ↗

SETM prospectus with the expense ratio (SEC) ↗

Sprott page for SETM ↗

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

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