GDX - VanEck Gold Miners UCITS ETF | Factsheet

Marketing Communication

GDX

VanEck
Gold Miners UCITS ETF

30 April 2024

Fund Details

Base Currency	USD
Inception Date	25 March 2015
Domicile	Ireland
Net Assets	USD 935.8M
Shares Outstanding	25,200,000
Total Expense Ratio	0.53%
Product Structure	Physical (Full Replication)
UCITS Compliant	Yes
Rebalance Frequency	Monthly
Distribution Frequency	None
Income Treatment	Reinvestment
Swiss Valor	26419120
ISA Eligibility	Yes
SIPP Available	Yes
Countries of Registration	AT, CH, DE, DK, ES, FI, FR, IE, IT, LU, NL, NO, PL, PT, SE, UK

Index Information

Index Provider	ICE Data Indices, LLC
Index Type	Total Return Net
Currency	USD
Inception Date	01 Oct 2004
Rebalance Frequency	Monthly
Bloomberg Ticker	GDMNTR
Reuters Ticker	.GDMNTR

Fund Data

Number of Holdings	53
Price/Earnings Ratio^*	24.94
Price/Book Ratio^*	1.76
Weighted Avg. MCap	USD 19.3B

* Last 12 Months

Country Breakdown

Canada	40.05%
United States	17.28%
Australia	12.11%
South Africa	10.99%
China	6.43%
Brazil	6.16%
Other/Cash	6.99%

FUND DESCRIPTION

VanEck Gold Miners UCITS ETF is a UCITS compliant exchange-traded fund (ETF) that invests in a portfolio of equity securities. The ETF aims to provide investment returns that closely track the performance of the NYSE Arca Gold Miners Index (GDMNTR).

NYSE Arca Gold Miners Index is a pure-play, global index that tracks the performance of the largest publicly-traded companies worldwide which are primarily involved in the mining for gold and silver. The modified market- capitalisation weighted index is reviewed quarterly based on a strictly rules-based methodology. Please consult www.nyse.com for further index information.

Performance History* (%)

Month End as of 30 Apr 2024	1 MO*	3 MO*	YTD*	1 YR	3 YR	5 YR	10 YR	ETF INCEPTION
ETF	6.05	18.97	7.25	0.79	0.58	11.07	--	7.04
GDMNTR (Index)	6.11	19.18	7.46	1.22	0.98	11.56	4.60	7.51

Past performance does not predict future returns.

Periods greater than one year are annualised.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance.

Investment returns and ETF share values will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV but do not reflect the payment of transaction costs. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

The “Net Asset Value” (NAV) of a VanEck UCITS ETF is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF‘s intraday trading value. VanEck UCITS ETF investors should not expect to buy or sell shares at NAV.

Please see the reverse side for important disclaimers.

Top 10 Holdings

NEWMONT CORP	12.21%
AGNICO EAGLE MINES LTD	8.22%
BARRICK GOLD CORP	7.62%
WHEATON PRECIOUS METALS CORP	6.16%
FRANCO-NEVADA CORP	6.03%
ZIJIN MINING GROUP CO LTD	4.71%
GOLD FIELDS LTD	4.70%
NORTHERN STAR RESOURCES LTD	4.05%
ANGLOGOLD ASHANTI PLC	3.88%
KINROSS GOLD CORP	3.19%
SUBTOTAL - TOP 10	60.76%
REMAINING HOLDINGS	39.19%
OTHER/CASH	0.05%
TOTAL	100.00%
For a complete up-to-date listing of Fund holdings, please visit www.vaneck.com

GDX

VanEck
Gold Miners UCITS ETF

30 April 2024

Trading Information

EXCHANGE	TRADING CURRENCY	ISIN	EXCHANGE TICKER	BLOOMBERG TICKER	REUTERS TICKER	SEDOL	IOPV SYMBOL
LONDON STOCK EXCHANGE	USD	IE00BQQP9F84	GDX	GDX LN	GDX.L	BVYTYH4	GDXINAV
LONDON STOCK EXCHANGE	GBP	IE00BQQP9F84	GDGB	GDGB LN	GDGB.L	BYPCLG1	GDXINAV
DEUTSCHE BÖRSE	EUR	IE00BQQP9F84	G2X	G2X GY	G2X.DE	BWXBW18	GDXEUIV
SIX SWISS EXCHANGE	CHF	IE00BQQP9F84	GDX	GDX SE	GDX.S	BXVMBZ7	GDXINAV
BORSA ITALIANA	EUR	IE00BQQP9F84	GDX	GDX IM	GDX.MI	BYT2HZ8	GDXEUIV
BATS CHI-X	GBP	IE00BQQP9F84	GDGXx	GDGXX IX	GDGXx.CHI	BYPCLG1	GDXINAV
BATS CHI-X	USD	IE00BQQP9F84	GDXl	GDXL IX	GDXl.CHI	BVYTYH4	GDXINAV

Key Risks

Risk of Investing in Gold and Silver Mining Companies: A Gold ETF will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of gold and silver ore mining companies.

Risk of Investing in Smaller Companies: The securities of smaller companies may be more volatile and less liquid than the securities of large companies. Smaller companies, when compared with larger companies, may have a shorter history of operations, fewer financial resources, less competitive strength, may have a less diversified product line, may be more susceptible to market pressure and may have a smaller market for their securities. This is one of the factors to take into account when considering an investment in a Gold Fund.

Risk of Investing in the Basic Materials Sector: Companies engaged in the production and distribution of basic materials may be adversely affected by changes in world events, political and economic conditions, energy conservation, environmental policies, commodity price volatility, changes in exchange rates, imposition of import controls, increased competition, depletion of resources and labor relations. This is a risk factor of a Gold ETF.

Market Risk and Volatility: The value of investments and the income from them, and therefore the value of and income from the shares can go down as well as up and an investor may not get back the amount invested. The ETFs’ exposure is based on the performance of the Index securities which, in turn, is exposed to general market movements (negative as well as positive). The prices of the securities in a given Gold ETF are subject to the risks associated with investing in the securities market, including general economic conditions and sudden and unpredictable drops in value.

For more information on risks, please see the “Risk Factors” section of the relevant Fund’s prospectus, available on www.vaneck.com.

IMPORTANT INFORMATION

This is a marketing communication. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.

This information originates from VanEck (Europe) GmbH, which has been appointed as distributor of VanEck products in Europe by the Management Company VanEck Asset Management B.V., a UCITS Management Company incorporated under Dutch law and registered with the Dutch Authority for the Financial Markets (AFM). VanEck (Europe) GmbH, with registered address at Kreuznacher Str. 30, 60486 Frankfurt, Germany, is a financial services provider regulated by the Federal Financial Supervisory Authority in Germany (BaFin). The information is intended only to provide general and preliminary information to investors and shall not be construed as investment, legal or tax advice. VanEck (Europe) GmbH and its associated and affiliated companies (together “VanEck”) assume no liability with regards to any investment, divestment or retention decision taken by the investor on the basis of this information. Information herein may change at any time; current data may differ from data quoted. Information provided by third party sources is believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Brokerage or transaction fees may apply.

VanEck Asset Management B.V., the management company of VanEck Gold Miners UCITS ETF (the "Fund"), a sub-fund of VanEck UCITS ETFs plc, is a UCITS management company incorporated under Dutch law and registered with the Dutch Authority for the Financial Markets (AFM). The Fund is registered with the Central Bank of Ireland, passively managed and tracks an equity index. Investing in the ETF should be interpreted as acquiring shares of the ETF and not the underlying assets.

Investors must read the sales prospectus and key investor information before investing in a fund. These are available in English and the KIDs in certain other languages as applicable and can be obtained free of charge at www.vaneck.com or from the Management Company.

NYSE Arca Gold Miners Index is a service mark of ICE Data Indices, LLC or its affiliates (“ICE Data”) and has been licensed for use by VanEck UCITS ETF plc (the “Fund”) in connection with VanEck Gold Miners UCITS ETF (the “ETF”). Neither the Fund nor the ETF is sponsored, endorsed, sold or promoted by ICE Data. ICE Data makes no representations or warranties regarding the Fund or the ETF or the ability of the NYSE Arca Gold Miners Index to track general stock market performance. ICE DATA MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE ARCA GOLD MINERS INDEX OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL ICE DATA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. ICE Data Indices, LLC and its affiliates (“ICE Data”) indices and related information, the name “ICE Data”, and related trademarks, are intellectual property licensed from ICE Data, and may not be copied, used, or distributed without ICE Data’s prior written approval. The Fund has not been passed on as to its legality or suitability, and is not regulated, issued, endorsed’ sold, guaranteed, or promoted by ICE Data.

It is not possible to invest directly in an index.

All performance information is based on historical data and does not predict future returns.

Note: no guarantee can be provided that the fund will attain its objective. Investing is subject to risk, including the possible loss of principal.

No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck.

The IOPV is calculated by S&P Global Ltd.

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results, a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. ©2016 VanEck.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. An investment in the Fund may be subject to product specific risks. These may negatively impact the Fund’s return. All risks are described in detail in the Prospectus and KIID.

The IOPV is calculated by Solactive AG.

No invitation to offer, or offer for, or sale of, the shares of any fund mentioned herein will be made to the People’s Republic of China (“PRC”) (which, for such purposes, does not include the Hong Kong or Macau Special Administrative Regions or Taiwan) or by any means that would be deemed public under the Laws of the PRC. The information relating to any fund mentioned herein has not been submitted to or approved by the China Securities Regulatory Commission or other relevant governmental authorities in the PRC. Such funds may only be offered or sold to investors in the PRC that are expressly authorized under the laws and regulations of the PRC to buy and sell securities denominated in foreign exchange. Potential investors resident in the PRC are responsible for obtaining all relevant approvals from the government authorities of the PRC, including but not limited to the State Administration of Foreign Exchange, before purchasing the shares. This document further does not constitute any securities or investment advice to citizens of the PRC, or nationals with permanent residence in the PRC, or to any corporation, partnership, or other entity incorporated or established in the PRC.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will be subject to the terms and conditions contained therein. This material and the information provided herein are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the distribution of these materials and/or the purchase or sale of interests of a Fund would be contrary to applicable law or regulation or would subject a Fund to any registration or licensing requirement in such jurisdiction. Persons who wish to review this material are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to make an investment in a Fund.

Fund shares are not individually redeemable and will be issued and redeemed at their net asset value (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading fund shares in the secondary market. Past performance is no guarantee of future results. Returns for an actual fund’s investments may differ from what is shown because of differences in timing, the amount invested and fees and expenses.

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

The contents of this material have not been reviewed nor endorsed by any regulatory authority in Hong Kong. Hong Kong residents are advised to exercise caution in relation to this offer. An investment in any fund mentioned herein may not be suitable for everyone. If you are in any doubt about the contents of this material, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser for independent professional advice. Such funds are not authorised by the Securities and Futures Commission (“SFC”) in Hong Kong pursuant to Section 104 of the Securities and Futures Ordinance (Cap 571, Laws of Hong Kong) (“SFO”). This material has not been approved by the SFC in Hong Kong, nor has a copy of it been registered with the Registrar of Companies in Hong Kong and, must not, therefore, be issued, or possessed for the purpose of issue, to persons in Hong Kong other than (1) professional investors within the meaning of the SFO (including professional investors as defined by the Securities and Futures (Professional Investors) Rules); or (2) in circumstances which do not constitute an offer to the public for the purposes of the Companies Ordinance (Cap 32, Laws of Hong Kong) or the SFO. This material is distributed on a confidential basis and may not be reproduced in any form or transmitted to any person other than the person to whom it is addressed. No interest/rights/shares in any fund mentioned herein will be issued to any person other than the person to whom this material has been addressed and no person other than such addressee may treat the same as constituting an invitation for him to invest.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results, a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. ©2016 VanEck.

The IOPV is calculated by Solactive AG.

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objective.

The IOPV is calculated by Solactive AG.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will subject to the terms and conditions contained therein. This material and the information provided herein are not related to a collective investment scheme which is authorised under section 286 of the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”) or recognised under section 287 of the SFA. The Funds mentioned herein are not authorised or recognised by the Monetary Authority of Singapore (the “MAS”) and Shares/Units/Interests are not allowed to be offered to the retail public. This material is not a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply. You should consider carefully whether the investment is suitable for you.

This material has not been registered as a prospectus with the MAS. Accordingly, this material and any other document or material in connection with it, may not be circulated or distributed, nor may Shares/Units/Interests be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 304 of the SFA, (ii) to a relevant person pursuant to Section 305(1), or any person pursuant to Section 305(2), and in accordance with the conditions specified in Section 305 of the SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. Professional advice shall be sought in cases of doubt.

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

The IOPV is calculated by Solactive AG.

Shares of any fund mentioned herein are being made available in the Republic of China (“R.O.C.”) on a private placement basis only to banks, bills houses, trust enterprises, insurance companies, securities firms, financial holding companies and other qualified entities or institutions (collectively, “Qualified Institutions”) and other entities and individuals meeting specific criteria (“Other Qualified Investors”) pursuant to the private placement provisions of the R.O.C. Rules Governing Offshore Funds. No other offer or sale of the shares in the R.O.C. is permitted. R.O.C. purchasers of the shares may not sell or otherwise dispose of their holdings except by redemption, transfer to a Qualified Institution or Other Qualified Investor, transfer by operation of law or other means approved by the R.O.C. Financial Supervisory Commission.