GDX invests in global gold mining companies, such as Newmont, Agnico Eagle and Barrick. It charges 0.53% a year, has $1.5b invested and returned +10.5% over the past year. The most similar ETF is MNRS, which overlaps with it by about 22%.
📅 As at 30 September 2026: fee, size and 1-year return from the TMX Australia funds report; holdings and overlap from GDX’s published holdings as at 30 October 2026.
Is it a good time to buy GDX?
Nobody can time the market perfectly, but you can check the trend before you buy. Here’s where GDX stands right now.
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| Net flow, September | +$26m |
| Net flow, 2026 so far | +$232m |
| Average month in 2026 | +$26m |
Week to 23 October: top 10 for outflows on the ASX (−$9m).
Is the whole market risk on, caution or risk off this week? Members see it every Sunday, with the core ETF check-up.
🔒 See it free for 30 days →GDX is in a downtrend. Some investors wait for the trend to turn before adding; others keep buying small, regular amounts. Whatever you do, size it so a further fall wouldn’t derail your plan.
General information only, not a recommendation to buy or sell GDX. Whether it suits you depends on your goals and the rest of your portfolio. Trend updated weekly; flows from the TMX Australia funds report (September 2026) and the Global X weekly market monitor. See every ETF’s trend in the ETF trend scanner, or read when to buy an ETF.
What is GDX?
Index: An index of global gold mining companies · Issuer: VanEck · Exchange: ASX
Top 10 holdings
The 10 largest companies make up 59% of GDX.
| # | Company | Weight | |
|---|---|---|---|
| 1 | Newmont CorpMaterials | 13.31% | |
| 2 | Agnico Eagle Mines Ltd | 9.99% | |
| 3 | Barrick Mining Corp | 7.19% | |
| 4 | Wheaton Precious Metals Corp | 6.27% | |
| 5 | Franco-Nevada Corp | 5.11% | |
| 6 | Anglogold Ashanti Plc | 4.77% | |
| 7 | Gold Fields Ltd | 3.56% | |
| 8 | Northern Star Resources LtdMaterials | 2.95% | |
| 9 | Kinross Gold Corp | 2.88% | |
| 10 | Zijin Mining Group Co LtdMaterials | 2.56% |
Sector breakdown
ETFs most similar to GDX
How much each ETF’s holdings overlap with GDX, by weight. High overlap means owning both mostly doubles up.
| ETF | Overlap | |
|---|---|---|
| MNRSBetashares Global Gold Miners Currency Hedged ETF | 22% | Compare in calculator → |
| OZRState Street SPDR S&P/ASX 200 Resources ETF | 12% | Compare in calculator → |
| QREBetashares Australian Resources Sector ETF | 11% | Compare in calculator → |
| EX20Betashares Aus Ex-20 Portfolio Diversifier ETF | 11% | Compare in calculator → |
| IESGiShares Core MSCI Australia Esg ETF | 10% | Compare in calculator → |
| VETHVanguard Ethically Conscious Australian Shares ETF | 10% | Compare in calculator → |
Core or satellite?
SATELLITE Resources, gold & commodities
GDX is a satellite: a commodity position that moves with gold. In our approach, satellites are bought when they break out of a base into an uptrend, kept to a small slice of the portfolio, and sold with a stop loss. Read more in core and satellite investing.
Read more: The base and trend method · When to buy an ETF
GDX FAQs
Is GDX a good ETF?
GDX has had a strong run with gold. Miners can amplify falls in the gold price too, so it suits a satellite with clear exit rules. Whether it suits you depends on your goals and the rest of your portfolio.
What does GDX invest in?
GDX invests in global gold mining companies, such as Newmont, Agnico Eagle and Barrick. Its largest holdings are Newmont Corp, Agnico Eagle Mines Ltd, Barrick Mining Corp, and its biggest sector is materials at about 100%.
What ETFs are similar to GDX?
The ETFs with the most overlap with GDX are MNRS (about 22%) and OZR (about 12%). Use the free ETF overlap calculator to check your own mix.
Is GDX a core or satellite ETF?
We see GDX as a satellite holding. Satellites are smaller positions around a diversified core, managed with clear entry and exit rules.
Fee, size and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns, 5-year figure is cumulative. Holdings from VanEck as at 30 October 2026. Chart: TradingView. General information only, not a recommendation to buy or sell GDX. Consider the PDS and TMD before investing.