# Miners and metals ETFs: 6 funds, largest first

> ETFIQ covers 6 miners and metals ETFs. The largest are XME ($3.6bn) and PICK ($2.3bn); fees run 0.35% to 0.99%, as of Jun 30 to Oct 27, 2026.

Data as of Oct 27, 2026. Rebuilt every trading night.

Data as of Oct 27, 2026 .

## Miners and metals ETFs: what each one holds

See every miners and metals ETF by what it holds, not by its name. Funds that hold the companies that dig metal out of the ground: gold, silver, copper, rare earths and steel. 6 funds, largest first. Updated Oct 27, 2026. The typical fund carries 13% of its weight in S&P 500 stocks, the 45th most of the 53 themes with holdings on file.

6 US listed miners and metals ETFs

$3.6bn The largest, XME

0.35% The cheapest, XME

+30.7% Best one year, SLX

### The short answers

Least like the S&P 500 NIKL , Sprott Nickel Miners ETF, 0.0% of its weight in S&P 500 companies. Closest pair PICK and SLX , 33% of their weight in the same companies.

### What these funds actually own

Between them the 6 funds' ten largest holdings name 47 companies, of which 7 appear in more than one. NUCOR CORP is among the ten largest of 4 of them, at an average of 5.5% of the fund.

| Company | Among the ten largest of | Average weight where it is | Largest, and in which fund |
| --- | --- | --- | --- |
| NUCOR CORP NUE | 4 of 6 | 5.5% | 7.2% in SLX |
| STEEL DYNAMICS INC STLD | 4 of 6 | 4.5% | 5.8% in XME |
| RELIANCE INC RS | 3 of 6 | 5.3% | 6.3% in XME |
| RIO TINTO RIO | 3 of 6 | 5.1% | 6.5% in SLX |
| BHP GROUP LTD BHP | 2 of 6 | 10.2% | 13.6% in PICK |
| FREEPORT MCMORAN INC FCX | 2 of 6 | 5.7% | 6.4% in PICK |
| Endeavour Silver Corp EXK | 2 of 6 | 3.7% | 3.8% in GOAU |
| ANTAM Persero Tbk PT ANTM | 1 of 6 | 15.8% | 15.8% in NIKL |
| Nickel Industries Ltd. NIC | 1 of 6 | 12.6% | 12.6% in NIKL |
| Franco-Nevada Corp FNV | 1 of 6 | 9.9% | 9.9% in GOAU |
| Merdeka Battery Materials Tbk PT MBMA | 1 of 6 | 9.7% | 9.7% in NIKL |
| OR Royalties Inc OR | 1 of 6 | 9.6% | 9.6% in GOAU |
| Wheaton Precious Metals Corp WPM | 1 of 6 | 9.5% | 9.5% in GOAU |
| IGO Ltd. IGO | 1 of 6 | 7.7% | 7.7% in NIKL |
| Talon Metals Corp. TLO | 1 of 6 | 6.7% | 6.7% in NIKL |

The 15 most widely held of 47. Each row counts the ten largest holdings of each fund, so a fund missing from a row may still hold that company lower down. Weights are of the funds that name it, not of the theme.

### The 6 largest miners and metals ETFs

ETFIQ covers 6 miners and metals ETFs. The largest are XME ( $3.6bn ), PICK ( $2.3bn ) and GOAU ( $165m ); fees run 0.35% to 0.99% , as of Jun 30 to Oct 27, 2026 .

- XME State Street SPDR S&P Metals & Mining ETF $3.6bn 0.35%

- PICK iShares MSCI Global Metals & Mining Producers ETF $2.3bn 0.39%

- GOAU US Global GO Gold and Precious Metal Miners ETF $165m 0.60%

- SLX VanEck Steel ETF $151m 0.55%

- METL Sprott Active Metals & Miners ETF $70m 0.99%

- NIKL Sprott Nickel Miners ETF $41m 0.75%

| Ticker | Fund | Issuer | Net assets | In the S&P 500 | Active share | Total return 1Y | vs its benchmark 1Y | Fee |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| XME | State Street SPDR S&P Metals & Mining ETF | State Street | $3.6bn | 21.7% | 99.6% | +3.1% | −10.5 pts vs IVV | 0.35% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | iShares | $2.3bn | 12.6% | 99.7% | +26.0% | +12.9 pts vs ACWI | 0.39% |
| GOAU | US Global GO Gold and Precious Metal Miners ETF | U.S. Global | $165m | 2.8% | 99.8% | +13.3% | not measured | 0.60% |
| SLX | VanEck Steel ETF | VanEck | $151m | 12.8% | 99.9% | +30.7% | +17.6 pts vs ACWI | 0.55% |
| METL | Sprott Active Metals & Miners ETF | Sprott | $70m | 14.2% | 99.7% | +8.3% | −5.3 pts vs VOO | 0.99% |
| NIKL | Sprott Nickel Miners ETF | Sprott | $41m | 0.0% | 100.0% | −22.8% | −36.4 pts vs VOO | 0.75% |

### How much of each pair is the same fund

The closest pair is PICK and SLX , which hold 33% of their weight in the same companies. The furthest apart is NIKL and XME at 0%. The middle pair of the 15 is 3%.

| | XME | PICK | GOAU | SLX | METL | NIKL |
| --- | --- | --- | --- | --- | --- | --- |
| XME | · | 16% | 3% | 20% | 22% | 0% |
| PICK | 16% | · | 0% | 33% | 18% | 0% |
| GOAU | 3% | 0% | · | 0% | 8% | 0% |
| SLX | 20% | 33% | 0% | · | 13% | 0% |
| METL | 22% | 18% | 8% | 13% | · | 2% |
| NIKL | 0% | 0% | 0% | 0% | 2% | · |

Weight overlap adds the smaller of the two weights for every company both funds hold. Funds with a cut-short book are left out, not compared short.

### What each fund holds alone

| Fund | Largest holding it alone has | Weight | All of its own names |
| --- | --- | --- | --- |
| XME | ROYAL GOLD INC RGLD | 5.2% | 21.6% |
| PICK | GLENCORE PLC GLEN | 4.6% | 43.3% |
| GOAU | Franco-Nevada Corp FNV | 9.9% | 78.8% |
| SLX | Vale SA | 7.5% | 21.7% |
| METL | NexGen Energy Ltd. NXE | 3.9% | 31.5% |
| NIKL | ANTAM Persero Tbk PT ANTM | 15.8% | 64.5% |

### Questions people ask

How many miners and metals ETFs are there? ETFIQ covers 6 US listed miners and metals ETFs as of Oct 27, 2026. That is every one it can measure from the fund’s own published holdings. What is the largest miners and metals ETF? XME , State Street SPDR S&P Metals & Mining ETF, at $3.6bn in net assets as of Oct 26, 2026, the largest of the 6 miners and metals ETFs with a published size. What is the cheapest miners and metals ETF? XME , State Street SPDR S&P Metals & Mining ETF, at 0.35% a year by its prospectus filed Oct 24, 2025, the lowest fee of the 6 miners and metals ETFs that publish one. Which miners and metals ETF has performed best over the past year? SLX , VanEck Steel ETF, at +30.7% total return over the year to Oct 27, 2026, the highest of the 6 miners and metals ETFs with a full year of trading behind them. Past returns do not predict future ones. What do miners and metals ETFs hold? Funds that hold the companies that dig metal out of the ground: gold, silver, copper, rare earths and steel. Between them the 6 miners and metals ETFs ETFIQ can read name 47 companies in their ten largest holdings, by holdings dated Jun 30, 2026 to Oct 26, 2026, most widely NUCOR CORP, which is among the ten largest of 4 of them. Do miners and metals ETFs hold the same companies? It depends which two. Across the 15 pairs of the 6 miners and metals ETFs with a full published book, by holdings dated Jun 30, 2026 to Oct 26, 2026, PICK and SLX hold 33% of their weight in the same companies, NIKL and XME hold 0%, and the middle pair holds 3%. Two funds sold on one theme are not the same fund.

### What the issuers say about this theme

The issuers behind these miners and metals funds publish their own work on this theme. These are their pages and words, not ETFIQ’s. A fund company writing about a theme it sells is making a case.

| Issuer | What they publish | Kind |
| --- | --- | --- |
| iShares | iShares Portfolio Insights | Their research index |
| VanEck | VanEck Insights | Their research index |
| Sprott | Sprott Insights on metals and mining | Their research index |

### Where to next

### Sources

Links are sources, not endorsements.

ETFIQ is an independent publisher and makes no recommendations. Standards and sources

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Miners and metals ETFs: what each one holds, data as of Oct 27, 2026. https://etfiq.com/themes/miners
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