GLD vs GDX: which ETF is right for you?
SPDR Gold Shares (GLD) and VanEck Gold Miners ETF (GDX) compared on cost, size, returns, holdings and sector mix.
GDX has a 0.11% higher expense ratio than GLD
GDX charges 0.51% in fees, while GLD charges 0.40%. This difference can affect long-term returns. GDX focuses on gold mining companies, while GLD invests directly in gold.
- GDX has an expense ratio of 0.51%, GLD has 0.40%
- GDX has $23.82 billion in assets, GLD has $131.01 billion
- GDX's one-year return is 8.25%, GLD's is -2.84%
- GDX's yield is 0.82%, GLD's yield is 0%
may suit investors looking for exposure to gold mining companies.
may suit investors wanting direct exposure to gold itself.
Summary written from the figures below by an AI model. Past returns do not predict future results; this is educational, not advice.
Side-by-side
GLD SPDR Gold Shares | GDX VanEck Gold Miners ETF | |
|---|---|---|
| Expense ratio | 0.400%● | 0.510% |
| Fund size (assets) | $131.0B● | $23.8B |
| Dividend yield | 0.00% | 0.82%● |
| Return YTD | -9.46%● | -10.14% |
| Return 1 year | -2.84% | 8.25%● |
| 3 years (annualised) | 24.65% | 41.77%● |
| 5 years (annualised) | 16.75% | 21.15%● |
| 10 years (annualised) | 11.45% | 13.24%● |
| Volatility (5y std dev) | 18.2%● | 38.3% |
| Beta vs market (5y) | 0.30 | 1.02● |
| Issuer | State Street Investment Management | VanEck |
| Launched | 2004-11-18 | 2006-05-16 |
● marks the best value in a row (lowest cost or volatility, highest return, yield or size). Returns as of 2026-11-06; past performance does not predict future results.
What the fees cost you
A simple illustration: the same $0M growing at an assumed 7% a year before fees. Only the expense ratios differ. This is not a forecast.
Top holdings and overlap
Holdings not published for this fund type (for example commodity or bond funds).
- NEMNewmont Corp11.6%
- AEM.TOAgnico Eagle Mines Ltd11.3%
- ABX.TOBarrick Mining Corp8.2%
- WPM.TOWheaton Precious Metals Corp5.5%
- FNV.TOFranco-Nevada Corp5.5%
- AUAnglogold Ashanti PLC4.7%
- GFIGold Fields Ltd ADR3.9%
- K.TOKinross Gold Corp3.6%
- NST.AXNorthern Star Resources Ltd3.3%
- PAAS.TOPan American Silver Corp2.6%
Sector mix
No sector breakdown for this fund type.
- Basic Materials100.0%
Common questions
Which has lower fees, GLD or GDX?
GLD has the lower expense ratio at 0.400% a year, against 0.510% for GDX. On $10,000 that is about $11 a year in fees.
Which is bigger, GLD or GDX?
GLD manages about $131.0 billion in assets, compared with $23.8 billion for GDX.
Do GLD and GDX hold the same stocks?
Their top holdings differ, so the two funds are exposed to different parts of the market. Compare the holdings and sector tables above.
Compare any ETFs
Pick up to four funds and see fees, overlap and the cost of fees over time.
Open the compare toolFund data comes from public fund filings and market data and is refreshed daily; returns are total returns and past performance does not predict future results. This page is educational and is not investment advice. Check the fund's official documents before investing.