Do RING and SLX 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 SLX?

RING has 18% of its weight in S&P 500 names and SLX has 14%, so SLX differs more from the index.

Which is cheaper, RING or SLX?

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

Data as of Nov 4, 2026.

Thematic ETFs

RING vs SLX: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, RING returned +28.4% to SLX's +32.9%; 0% of their weight is in the same names.

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Net assets: $2.3bn on Nov 4, 2026 for iShares MSCI Global Gold Miners ETF, and $150m on Nov 3, 2026 for VanEck Steel ETF.

RING on its own →SLX on its own →

At a glance

17.6%

RING in the S&P 500

13.5%

SLX in the S&P 500

+28.4%

RING total return, 1 year

+32.9%

SLX 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.

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

RING costs 0.16 points a year less; their one-year returns differ by 4.5 points; RING is 14.0 times larger.

Points (pts) are percentage points.

RING vs SLX: Holdings Overlap & Returns
Measure	RING	SLX
Return
Measure	RING	SLX
Total return, 1 year	+28.4%	+32.9%
Drawdown
Measure	RING	SLX
Below its all-time high	25.1%, high on Feb 27, 2026	12.2%, high on Jun 2, 2026
Against its benchmark
Measure	RING	SLX
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 13.4 pts	ahead by 17.9 pts
Cost and size
Measure	RING	SLX
Expense ratio	0.39%	0.55%
Net assets, as of Nov 3, 2026	$2.1bn	$150m
Holdings
Measure	RING	SLX
Holdings in common	0%

Method

Risk and return

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

RING SLX

Return

Total return edge SLX +62.1% +188.1%

Annualized edge SLX +3.3% +7.4%

Price return edge SLX +35.2% +78.6%

Risk

Volatility edge SLX 37.2% 30.2%

Max drawdown edge SLX −78.7% −67.1%

Downside capture 70.7% 129.7%

Beta 0.74 1.43

Risk-adjusted

Sharpe edge SLX 0.23 0.33

Sortino edge SLX 0.33 0.49

Treynor 0.114 0.070

Calmar edge SLX 0.04 0.11

Against the benchmark

Alpha +1.2% a year −4.0% a year

Alpha t-stat 0.13 −0.73

Information ratio −0.04 0.01

Tracking error 35.6% 21.8%

Reading

From Feb 2012 to Oct 2026, SLX returned more: +188.1% to +62.1%. SLX swung less: 30.2% to 37.2%. SLX fell less at its worst: −67.1% to −78.7%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: RING vs SLX: Holdings Overlap & Returns
Measure	RING	SLX	ACWI	Edge	How it is measured
Return
Total return	+62.1%	+188.1%		SLX	Price change plus distributions, reinvested.
Annualized	+3.3%	+7.4%		SLX	Total return as a yearly rate.
Price return	+35.2%	+78.6%		SLX	Price change alone, distributions left out.
Risk
Volatility	37.2%	30.2%		SLX	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	25.4%	20.2%		SLX	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−78.7%	−67.1%		SLX	Deepest fall from a high to the low after it.
Upside capture	44.7%	163.4%	100.0%	SLX	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	70.7%	129.7%	100.0%	RING	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.74	1.43	1.00	RING 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	0.33		SLX	Return above Treasury bills per unit of volatility.
Sortino	0.33	0.49		SLX	Return above Treasury bills per unit of downside deviation.
Treynor	0.114	0.070	0.098	RING	Return above Treasury bills per unit of beta.
Calmar	0.04	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	+1.2% a year	−4.0% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.13	−0.73		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−17.0% to +19.4%	−14.7% to +6.7%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−0.04	0.01		SLX	Return against its benchmark per unit of tracking error.
Tracking error	35.6%	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

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

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first RING SLX

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 SLX

Nucor Corp 7.73%

Bhp Group Ltd 6.84%

Rio Tinto Plc 6.36%

Steel Dynamics Inc 5.77%

Reliance Steel & Aluminum Co 5.67%

Vale Sa 5.58%

Arcelormittal Sa 5.27%

Nippon Steel Corp 4.75%

Check overlap with more funds →

Window by window

Window by window: RING vs SLX: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	RING	SLX	RING	SLX
3 months	+2.4%	−9.3%	+3.7 pts vs ACWI	−8.0 pts vs ACWI
6 months	−7.2%	−8.1%	−9.8 pts vs ACWI	−10.7 pts vs ACWI
1 year	+28.4%	+32.9%	+13.4 pts vs ACWI	+17.9 pts vs ACWI
3 years	+233.8%	+64.3%	+156.2 pts vs ACWI	−13.3 pts vs ACWI
Since launchNot the same days: RING Feb 2012 · SLX Oct 2006	+74.0%	+326.1%	−293.7 pts vs ACWI	not measured

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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 SLX VanEck Steel ETF · Holds 39 stocks in miners and metals, 14% of its weight in S&P 500 companies

Issuer iShares VanEck

Theme Gold miners Miners and metals

In the S&P 500 17.6% 13.5%

Active share vs the S&P 500 99.8% 99.9%

In the Nasdaq-100 0.0% 0.0%

Holdings 41 39

Top ten, share of the fund 67.5% 56.6%

Expense ratio 0.39% 0.55%

Fee for the differing part 0.39% 0.55%

Total return, 1 year +28.4% +32.9%

vs its benchmark +13.4 pts vs ACWI +17.9 pts vs ACWI

Below its high −25.1% −12.2%

Net assets, RING as of Nov 4, 2026 and SLX as of Nov 3, 2026 $2.3bn $150m

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.

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 RING and SLX 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 SLX?: RING has 18% of its weight in S&P 500 names and SLX has 14%, so SLX differs more from the index.
Which is cheaper, RING or SLX?: RING charges 0.39% a year and SLX charges 0.55%, so RING is cheaper. Fees come from each fund's prospectus.

Other comparisons

RING vs METL RING vs NIKL RING vs PICK RING vs GOAU SLX vs AUMI SLX vs AUAU SLX vs GDMN SLX vs GDX

Where to next

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

Sources and dates

RING filings on SEC EDGAR ↗

RING prospectus with the expense ratio (SEC) ↗

iShares page for RING ↗

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

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