Do RING and XME hold the same stocks?

By their latest filings, 8% 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 XME?

RING has 18% of its weight in S&P 500 names and XME has 22%, so RING differs more from the index.

Which is cheaper, RING or XME?

RING charges 0.39% a year and XME charges 0.35%, so XME is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

RING vs XME: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, RING returned +28.4% to XME's +6.7%; 8% 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 $3.6bn on Nov 3, 2026 for State Street SPDR S&P Metals & Mining ETF.

RING on its own →XME on its own →

At a glance

17.6%

RING in the S&P 500

21.8%

XME in the S&P 500

+28.4%

RING total return, 1 year

+6.7%

XME 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.

XME · 1 year to Nov 4, 2026 78% of its weight is outside the S&P 500

22% of XME's weight is in S&P 500 companies and 78% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

XME costs 0.04 points a year less; their one-year returns differ by 21.7 points; XME is 1.7 times larger.

Points (pts) are percentage points.

RING vs XME: Holdings Overlap & Returns
Measure	RING	XME
Return
Measure	RING	XME
Total return, 1 year	+28.4%	+6.7%
Drawdown
Measure	RING	XME
Below its all-time high	25.1%, high on Feb 27, 2026	27.8%, high on Jun 2, 2026
Against its benchmark
Measure	RING	XME
What it tracks	Gold miners	Miners and metals
Against the S&P 500, 1 year		behind by 8.1 pts
Its benchmark, total return, 1 year	+15.0%	+14.8%
Against its benchmark, 1 year	ahead by 13.4 pts	behind by 8.1 pts
Cost and size
Measure	RING	XME
Expense ratio	0.39%	0.35%
Net assets, as of Nov 3, 2026	$2.1bn	$3.6bn
Holdings
Measure	RING	XME
Holdings in common	8%

Method

Risk and return

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

RING XME

Return

Total return edge XME +62.1% +124.6%

Annualized edge XME +3.3% +5.6%

Price return edge XME +35.2% +83.7%

Risk

Volatility edge XME 37.2% 31.9%

Max drawdown edge XME (slight) −78.7% −75.7%

Downside capture 70.7% 124.3%

Beta 0.74 1.45

Risk-adjusted

Sharpe edge XME 0.23 0.28

Sortino edge XME 0.33 0.41

Treynor 0.114 0.067

Calmar edge XME 0.04 0.07

Against the benchmark

Alpha +1.2% a year −5.5% a year

Alpha t-stat 0.13 −0.94

Information ratio −0.04 −0.03

Tracking error 35.6% 27.6%

Each against its own benchmark: RING against ACWI, Feb 10, 2012 to Oct 30, 2026; XME against IVV, Jun 30, 2006 to Oct 30, 2026.

Reading

From Feb 2012 to Oct 2026, XME returned more: +124.6% to +62.1%. XME swung less: 31.9% to 37.2%. XME fell slightly less at its worst: −75.7% to −78.7%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: RING vs XME: Holdings Overlap & Returns
Measure	RING	XME	Edge	How it is measured
Return
Total return	+62.1%	+124.6%	XME	Price change plus distributions, reinvested.
Annualized	+3.3%	+5.6%	XME	Total return as a yearly rate.
Price return	+35.2%	+83.7%	XME	Price change alone, distributions left out.
Risk
Volatility	37.2%	31.9%	XME	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	25.4%	21.7%	XME	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−78.7%	−75.7%	XME (slight)	Deepest fall from a high to the low after it.
Upside capture	44.7%	147.5%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	70.7%	124.3%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.74	1.45	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.09	0.49	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.23	0.28	XME	Return above Treasury bills per unit of volatility.
Sortino	0.33	0.41	XME	Return above Treasury bills per unit of downside deviation.
Treynor	0.114	0.067		Return above Treasury bills per unit of beta.
Calmar	0.04	0.07	XME	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	ACWI	IVV		The ETF each fund is measured against.
Alpha	+1.2% a year	−5.5% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.13	−0.94	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−17.0% to +19.4%	−17.0% to +6.0%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.04	−0.03		Return against its benchmark per unit of tracking error.
Tracking error	35.6%	27.6%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 768 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, RING and XME hold 8% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

8% in common

Positions both hold · largest shared weight first RING XME

NEWMONT 17.65% 4.87%

COEUR MINING 2.84% 3.73%

MCEWEN INC 0.33% 0.74%

Only in one fund ↓

Only in RING

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%

EQUINOX GOLD 2.47%

Only in XME

CLEVELAND CLIFFS INC 6.82%

RELIANCE INC 6.56%

NUCOR CORP 6.19%

STEEL DYNAMICS INC 6.00%

COMMERCIAL METALS CO 5.62%

ROYAL GOLD INC 5.13%

FREEPORT MCMORAN INC 4.73%

MATERION CORP 4.59%

Check overlap with more funds →

Window by window

Window by window: RING vs XME: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	RING	XME	RING	XME
3 months	+2.4%	−14.4%	+3.7 pts vs ACWI	−14.3 pts vs IVV
6 months	−7.2%	−22.7%	−9.8 pts vs ACWI	−27.7 pts vs IVV
1 year	+28.4%	+6.7%	+13.4 pts vs ACWI	−8.1 pts vs IVV
3 years	+233.8%	+89.9%	+156.2 pts vs ACWI	+6.5 pts vs IVV
Since launchNot the same days: RING Feb 2012 · XME Jun 2006	+74.0%	+174.0%	−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 XME State Street SPDR S&P Metals & Mining ETF · Holds 38 stocks in miners and metals, 22% of its weight in S&P 500 companies

Issuer iShares State Street

Theme Gold miners Miners and metals

In the S&P 500 17.6% 21.8%

Active share vs the S&P 500 99.8% 99.6%

In the Nasdaq-100 0.0% 0.0%

Holdings 41 38

Top ten, share of the fund 67.5% 55.0%

Expense ratio 0.39% 0.35%

Fee for the differing part 0.39% 0.35%

Total return, 1 year +28.4% +6.7%

vs its benchmark +13.4 pts vs ACWI −8.1 pts vs IVV

Below its high −25.1% −27.8%

Net assets, RING as of Nov 4, 2026 and XME as of Nov 3, 2026 $2.3bn $3.6bn

As of Nov 4, 2026. Source: ETFIQ.

8% 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.

XME

By weight, 22% of XME'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 55% of the fund across 38 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +6.7% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 8.1 pts. It sits 27.8% below its all-time high of Jun 2, 2026.

Questions people ask

Do RING and XME hold the same stocks?: By their latest filings, 8% 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 XME?: RING has 18% of its weight in S&P 500 names and XME has 22%, so RING differs more from the index.
Which is cheaper, RING or XME?: RING charges 0.39% a year and XME charges 0.35%, so XME is cheaper. Fees come from each fund's prospectus.

Other comparisons

RING vs SLX RING vs PICK RING vs GOAU RING vs METL XME vs AUMI XME vs AUAU XME vs GDMN XME 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 →XME on its own →RING dividend history →RING holdings →XME dividend history →XME holdings →Method →Standards and sources →

Sources and dates

RING filings on SEC EDGAR ↗

RING prospectus with the expense ratio (SEC) ↗

iShares page for RING ↗

XME filings on SEC EDGAR ↗

XME prospectus with the expense ratio (SEC) ↗

State Street 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 XME, data as of Nov 4, 2026. https://etfiq.com/compare/themes/ring-vs-xme

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