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VanEck Gold Miners ETF (GDX)

Look-through valuation · Sector · Expense ratio 0.51 % · ISIN US92189F1066

GDX VanEck Gold Miners ETF GDX fairly valued
Holdings vs fair value −7.9 % weighted average
Quality 63/100 avg alpha quality
Expense ratio 0.51 % per year (TER)
Fund size $ 24.1B yield 0.84 %
The look-through covers 39 % of the fund by weight (22 of 47 disclosed positions valued). Unresolved positions are left out, never estimated.

Price history (since 2006)

$ 116 $ 12 May 2006 Jul 2026

Monthly close since 2006. Price shows performance, the valuation verdict is in the look-through above.

Top holdings

Holding Weight vs fair value Quality
Newmont Goldcorp Corp NEM 10.6 % +18.5 % 68
Agnico Eagle Mines Limited AEM 10.1 % n/a n/a
Barrick Gold Corp ABX 8.0 % −2.5 % 72
Wheaton Precious Metals Corp WPM 5.5 % n/a n/a
Anglogold Ashanti HT3 5.1 % n/a n/a
Franco-Nevada Corporation FNV 4.8 % n/a n/a
Kinross Gold Corp K 4.5 % n/a n/a
Gold Fields Ltd ADR GFI 4.2 % n/a n/a
Pan American Silver Corp PAAS 2.9 % n/a n/a
Northern Star Resources Ltd NST 2.8 % −19.6 % 50
Coeur Mining Inc CDE 2.3 % −48.4 % 52
Royal Gold Inc RGLD 1.9 % −51.6 % 46
Alamos Gold Inc AGI 1.8 % n/a n/a
Evolution Mining Ltd EVN 1.6 % −34.2 % 59
Industrias Peñoles S.A.B. de C.V PE&OLES 1.6 % n/a n/a
First Majestic Silver Corp FR 1.4 % n/a n/a
Hecla Mining Company HL 1.4 % −47.3 % 60
Endeavour Mining Corp EDVMF 1.4 % n/a n/a
IAMGold Corporation IMG 1.3 % n/a n/a
Equinox Gold Corp EQX 1.3 % n/a n/a
Eldorado Gold Corp ELD 1.3 % n/a n/a
Fresnillo PLC FRES 1.2 % +29.6 % 73
Harmony Gold Mining Company Limited HMY 1.1 % n/a n/a
Lundin Gold Inc LUG 1.0 % −29.3 % 67
Dundee Precious Metals Inc DPM 1.0 % −40.0 % 67

Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 47 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.

How the look-through works

An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives VanEck Gold Miners ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.

As of: Jul 17, 2026

No investment advice, no buy or sell recommendation. The look-through is a computed summary of public fundamentals and is no substitute for your own research.