VanEck Gold Investments - Gold ETFs, Funds & Trusts

Key Takeaways

• Gold’s unique characteristics—as a store of value, a hedge against systemic risk and a diversifier—remain relevant amid evolving market dynamics and shifting macro conditions.
• VanEck’s range of gold-related products, including physical-backed trusts, gold ETFs and gold mining equity funds, offers investors multiple exposures to the precious metal’s performance and underlying drivers.
• Over extended periods, gold has shown resilience versus traditional asset classes, reinforcing its role in diversified portfolios and the rationale for maintaining a strategic allocation.

The over 50 year longevity of providing investors access to gold reflects the expertise and commitment that VanEck maintains to one of the most vital metals in the world, which continues today across both actively and passively managed solutions. VanEck has been at the forefront of gold investing since the firm’s inception and launched the nation’s first gold stock fund, VanEck International Investors Gold Fund (INIVX), in 1968, and also issued the first gold miners ETF, VanEck Gold Miners ETF (GDX), in 2006.

A Look Into VanEck’s Gold Investing Solutions

Gold is one of the most vital metals in the world and a unique asset, with the ability to enhance portfolio diversification, act as store of value, and hedges against systemic risk. VanEck has long been considered a leader in gold-related investments and has been managing gold funds since 1968, including the nation’s first open-ended gold equity mutual fund.

Gold ETFs

Gold ETFs are exchange-traded funds that invest in physical gold, gold futures, or stocks of gold mining companies. They offer a convenient way to gain exposure to the price movements of gold without the need to hold the physical metal, and they can be bought and sold like stocks through a brokerage account.

GDX: VanEck Gold Miner’s ETF

The VanEck^® Gold Miners ETF (GDX), launched in 2006, is the first gold miners ETF in the U.S. It seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MarketVector Global Gold Miners Index (MVGDXTR), a pure-play, global index, tracking the performance of the largest publicly-traded companies in the gold mining industry.

GDXJ: VanEck Junior Gold Miners ETF

The VanEck Junior Gold Miners ETF (GDXJ) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS^® Global Junior Gold Miners Index (MVGDXJTR), which is intended to track the overall performance of small-capitalization companies that are involved primarily in the mining for gold and/or silver.

Gold Funds

Gold funds are mutual funds or closed-end funds that invest in gold-related assets. These might include physical gold, gold futures, and stocks of companies involved in the gold industry, such as mining, refining, or production.

VanEck International Investors Gold Fund

The VanEck International Investors Gold Fund is an actively managed portfolio, with a nearly 60 year track record, that primarily invests in gold-mining equities. An investment in gold miners offers several benefits beyond that of other gold-related investments.

• Leverage to gold prices – For most gold miners, profitability is measured by the average cost of production relative to the current price of gold. High or rising gold prices can thus magnify profits earned by gold miners, which often translates to higher share prices.
• Yield opportunity – Investors are often being “paid” to own gold mining stocks, with many gold companies opting to return capital to shareholders in the form of dividends. On the other hand, investors in physical gold often have to pay for ownership (in the form of storage).
• Idiosyncratic return drivers – Performance of gold miners is not wholly dependent on the price of gold. Over time, gold miners may exploit efficiency gains from new technologies, capitalize on exploration success or else become the target of a larger acquisition.

All of these factors may influence their return prospects regardless of gold prices.

Gold Trusts

Gold trusts are investment vehicles that hold physical gold for investors. They offer a direct exposure to the price of gold and are traded on stock exchanges. Gold trusts are a popular choice for investors looking to add gold to their portfolios without the complexities of futures contracts or the security issues of storing physical gold.

OUNZ: VanEck Merk Gold ETF

The VanEck Merk Gold ETF (OUNZ) seeks to provide investors with a convenient and cost-efficient way to buy and hold gold through an exchange traded product with the option to take physical delivery of gold. For the purpose of facilitating delivery, Merk Investments LLC has developed a proprietary process for the conversion of London Bars into gold coins and bars in denominations investors may desire. Another benefit of this approach is that taking delivery of gold is not a taxable event as investors merely take possession of what they already own: the gold.

Why Invest In Gold?

For centuries, gold has served as a form of exchange, a safe haven investment (in times of financial market turmoil) as well as a hedge against severe inflation. As an investment, gold delivers the ability to enhance portfolio diversification, acts as store of value, and hedges against systemic risk. In addition, gold has outperformed traditional asset classes over the last 20 years.

Gold Outperformance Since 2000

Source: FactSet, VanEck. Data as of June 30, 2025. U.S. Stocks represented by S&P^® 500 Index; U.S.Bonds represented by Bloomberg Barclays U.S. Aggregate Bond Index; Gold ($/oz) represented by LBMA PM Gold Price; U.S. Treasuries represented by the Bloomberg Barclays U.S. 1-3 Year Treasury Bond Index. Past performance is no guarantee of future results. Index performance is not illustrative of fund performance. It is not possible to invest directly in an index.

While these portfolio benefits have remained consistent, the rationale for including an allocation to gold and gold stocks today has gained significant relevance.

Summary & Conclusion

As a truly unique asset, gold enhances portfolio diversification, acts as store of value, and hedges against systemic risk. In addition, gold has outperformed traditional asset classes over the last 20 years.

Read VanEck’s Monthly Gold Commentary to learn more about the current gold market and how to position portfolios in today's environment.