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VanEck Gold Miners (GDX)
Look-through valuation · Sector · Expense ratio 0.51 % · ISIN US92189F1066
Price history (since 2006)
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 | 11.2 % | n/a | n/a |
| Agnico Eagle Mines Limited AEM | 11.0 % | n/a | n/a |
| Barrick Gold Corp ABX | 7.8 % | −3.6 % | 80 |
| Wheaton Precious Metals Corp WPM | 5.7 % | n/a | n/a |
| Franco-Nevada Corporation FNV | 5.2 % | n/a | n/a |
| AngloGold Ashanti plc AU | 5.0 % | −3.3 % | 70 |
| Kinross Gold Corp K | 3.8 % | n/a | n/a |
| Gold Fields Ltd ADR GFI | 3.8 % | n/a | n/a |
| Northern Star Resources Ltd NST | 2.8 % | −32.2 % | 44 |
| Pan American Silver Corp PAAS | 2.7 % | n/a | n/a |
| Coeur Mining Inc CDE | 2.1 % | −3.0 % | 55 |
| Royal Gold Inc RGLD | 2.0 % | −5.1 % | 37 |
| Alamos Gold Inc AGI | 1.9 % | n/a | n/a |
| Equinox Gold Corp EQX | 1.9 % | n/a | n/a |
| Evolution Mining Ltd EVN | 1.6 % | −49.7 % | 68 |
| Industrias Peñoles S.A.B. de C.V PE&OLES | 1.5 % | n/a | n/a |
| Hecla Mining Company HL | 1.3 % | +0.7 % | 70 |
| Endeavour Mining Corp EDVMF | 1.3 % | n/a | n/a |
| IAMGold Corporation IMG | 1.3 % | n/a | n/a |
| First Majestic Silver Corp FR | 1.3 % | n/a | n/a |
| 6LU 6LU | 1.2 % | n/a | n/a |
| Fresnillo PLC FRES | 1.1 % | +17.1 % | 84 |
| G Mining Ventures Corp GMINF | 1.0 % | n/a | n/a |
| Lundin Gold Inc LUG | 1.0 % | +33.3 % | 85 |
| B2Gold Corp BTO | 1.0 % | n/a | n/a |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 48 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +76.9 % below FV
- 2 MCHI iShares MSCI China ETF +41.9 % below FV
- 3 ITB iShares U.S. Home Construction ETF +37.1 % below FV
- 4 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +32.2 % below FV
- 5 VOX Vanguard Communication Services Index Fund ETF Shares +21.5 % below FV
- 6 XLC Communication Services Select Sector SPDR® Fund +20.6 % below FV
- 7 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +19.1 % below FV
- 8 FDNI First Trust Dow Jones International Internet ETF +15.2 % below FV
- 9 SHRY First Trust Bloomberg Shareholder Yield ETF +14.6 % below FV
- 10 TAN Invesco Solar ETF +14.5 % below FV
Frequently asked about GDX
Is GDX overvalued?
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Which stocks drive the valuation of GDX?
What is the expense ratio of GDX?
How we value this ETF
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: Oct 15, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.