CEO's Investment
Outlook
GDXVanEck Gold Miners ETF
Market Updates*
- Vaccine news and the stimulus bill has created an outlook for strong economic growth, which dampens our near-term outlook for gold.
- We expect catalysts to emerge in the second half of 2021, which may include excessive inflationary expectations, continued Central Bank asset purchases and rising commodity prices. Our long-term bull market view for gold remains intact.
- Gold companies remain a compelling value buy, in our view. Balance sheets continue to get stronger and miners are remaining disciplined in their capital investment.
Fund Description
VanEck Gold Miners ETF (GDX®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index (GDMNTR), which is intended to track the overall performance of companies involved in the gold mining industry.
-
Fund Ticker
GDX -
Exchange
NYSE Arca -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
GDMNTR -
Index Rebalancing
Quarterly
as of 09/20/21
-
30-Day SEC Yield1
1.34% -
Total Net Assets
$12.7B -
Number of Holdings
55 -
Options
Available -
Gross Expense Ratio2
0.51% -
Net Expense Ratio/TER2
0.51% -
Distribution Frequency
Annual
Portfolio Composition (%)
as of 09/20/21
- % of Net Assets
-
Stocks
100.06 -
Bonds
0.00 -
Other
0.00 -
Cash
-0.06
Daily Holdings (%) as of 09/20/21 Download All Holdings
Total Holdings: 55
|
Ticker
|
Holding Name |
Identifier (FIGI)
|
Shares | Asset Class |
Market Value (US$) |
% of Net Assets |
|---|---|---|---|---|---|---|
|
NEM US
|
Newmont Corp |
BBG000BPWXK1
|
33,603,875
|
Stock | 1,814,945,289 | 14.11 |
|
GOLD US
|
Barrick Gold Corp |
BBG000BB07P9
|
74,808,078
|
Stock | 1,395,170,655 | 10.85 |
|
FNV US
|
Franco-Nevada Corp |
BBG000RD3CL8
|
8,036,105
|
Stock | 1,101,026,746 | 8.56 |
|
WPM US
|
Wheaton Precious Metals Corp |
BBG000PVRDL2
|
18,934,457
|
Stock | 775,176,670 | 6.03 |
|
NCM AU
|
Newcrest Mining Ltd |
BBG000BQKN15
|
37,769,631
|
Stock | 644,632,532 | 5.01 |
|
AEM US
|
Agnico Eagle Mines Ltd |
BBG000DLVDK3
|
10,907,531
|
Stock | 578,317,294 | 4.50 |
|
KL CN
|
Kirkland Lake Gold Ltd |
BBG009L730J7
|
13,541,676
|
Stock | 563,558,553 | 4.38 |
|
NST AU
|
Northern Star Resources Ltd |
BBG000C82NF9
|
59,305,908
|
Stock | 397,912,188 | 3.09 |
|
2899 HK
|
Zijin Mining Group Co Ltd |
BBG000DCTP29
|
292,194,000
|
Stock | 382,762,319 | 2.98 |
|
GFI US
|
Gold Fields Ltd |
BBG000KHT4K7
|
45,219,475
|
Stock | 376,678,227 | 2.93 |
|
KGC US
|
Kinross Gold Corp |
BBG000BB2DM7
|
64,281,696
|
Stock | 349,692,426 | 2.72 |
|
RGLD US
|
Royal Gold Inc |
BBG000BS5170
|
3,341,958
|
Stock | 349,134,352 | 2.71 |
|
AU US
|
Anglogold Ashanti Ltd |
BBG000BCMDR8
|
21,260,529
|
Stock | 317,844,909 | 2.47 |
|
EDV CN
|
Endeavour Mining Corp |
BBG000BW1022
|
12,689,810
|
Stock | 289,498,357 | 2.25 |
|
PAAS US
|
Pan American Silver Corp |
BBG000C0RGY3
|
10,712,494
|
Stock | 259,563,730 | 2.02 |
|
EVN AU
|
Evolution Mining Ltd |
BBG000NF2249
|
93,362,386
|
Stock | 253,274,283 | 1.97 |
|
AUY US
|
Yamana Gold Inc |
BBG000NSQ9M0
|
49,229,191
|
Stock | 200,855,099 | 1.56 |
|
BTG US
|
B2gold Corp |
BBG000V9KFD5
|
53,705,261
|
Stock | 194,413,045 | 1.51 |
|
SSRM US
|
Ssr Mining Inc |
BBG000C0RWX9
|
11,018,271
|
Stock | 166,265,709 | 1.29 |
|
AG US
|
First Majestic Silver Corp |
BBG000CH7WB8
|
13,064,683
|
Stock | 155,992,315 | 1.21 |
|
AGI US
|
Alamos Gold Inc |
BBG009HT6BL4
|
20,016,169
|
Stock | 150,521,591 | 1.17 |
|
HL US
|
Hecla Mining Co |
BBG000BL5W86
|
27,353,022
|
Stock | 149,073,970 | 1.16 |
|
CG CN
|
Centerra Gold Inc |
BBG000PWGV23
|
15,117,413
|
Stock | 109,927,666 | 0.85 |
|
EQX US
|
Equinox Gold Corp |
BBG004XB7MN9
|
15,304,485
|
Stock | 106,978,350 | 0.83 |
|
HMY US
|
Harmony Gold Mining Co Ltd |
BBG000BX93G1
|
31,381,116
|
Stock | 103,557,683 | 0.81 |
|
OR US
|
Osisko Gold Royalties Ltd |
BBG006NTSJ78
|
8,562,902
|
Stock | 100,614,099 | 0.78 |
|
1818 HK
|
Zhaojin Mining Industry Co Ltd |
BBG000DQ77W9
|
132,913,000
|
Stock | 96,785,039 | 0.75 |
|
BVN US
|
Cia De Minas Buenaventura Saa |
BBG000GPXR82
|
12,924,016
|
Stock | 93,311,396 | 0.73 |
|
PVG US
|
Pretium Resources Inc |
BBG001DM5W62
|
9,571,382
|
Stock | 93,033,833 | 0.72 |
|
CDE US
|
Coeur Mining Inc |
BBG000BF8TF5
|
13,092,665
|
Stock | 79,996,183 | 0.62 |
|
EGO US
|
Eldorado Gold Corp |
BBG000BN7277
|
9,301,160
|
Stock | 77,013,605 | 0.60 |
|
CEY LN
|
Centamin Plc |
BBG000D32QC5
|
58,908,550
|
Stock | 74,262,094 | 0.58 |
|
OGC CN
|
Oceanagold Corp |
BBG000RG1PM3
|
35,860,686
|
Stock | 66,590,023 | 0.52 |
|
PRU AU
|
Perseus Mining Ltd |
BBG000Q68231
|
62,500,635
|
Stock | 65,735,502 | 0.51 |
|
WDO CN
|
Wesdome Gold Mines Ltd |
BBG000DKQDS3
|
7,141,603
|
Stock | 62,461,863 | 0.49 |
|
FSM US
|
Fortuna Silver Mines Inc |
BBG000LDZ482
|
14,839,953
|
Stock | 61,140,606 | 0.48 |
|
SAND US
|
Sandstorm Gold Ltd |
BBG000VMKS48
|
9,927,583
|
Stock | 60,955,360 | 0.47 |
|
DPM CN
|
Dundee Precious Metals Inc |
BBG000G9HTM6
|
9,815,154
|
Stock | 60,880,451 | 0.47 |
|
RRL AU
|
Regis Resources Ltd |
BBG000BLX2J9
|
38,418,640
|
Stock | 56,012,582 | 0.44 |
|
KNT CN
|
K92 Mining Inc |
BBG0018BVXB5
|
11,222,952
|
Stock | 55,602,516 | 0.43 |
|
IAG US
|
Iamgold Corp |
BBG000LL9LQ5
|
24,282,651
|
Stock | 54,150,312 | 0.42 |
|
TXG CN
|
Torex Gold Resources Inc |
BBG000BSWRQ2
|
4,367,949
|
Stock | 45,121,046 | 0.35 |
|
SLR AU
|
Silver Lake Resources Ltd |
BBG000DGM5W8
|
45,097,491
|
Stock | 43,179,127 | 0.34 |
|
RMS AU
|
Ramelius Resources Ltd |
BBG000PMB297
|
41,469,325
|
Stock | 41,810,881 | 0.33 |
|
NGD US
|
New Gold Inc |
BBG000KD2ZL5
|
34,679,274
|
Stock | 40,921,543 | 0.32 |
|
GOR AU
|
Gold Road Resources Ltd |
BBG000PK8TF9
|
44,871,232
|
Stock | 40,684,179 | 0.32 |
|
DRD US
|
Drdgold Ltd |
BBG000BX8QF2
|
4,404,154
|
Stock | 40,430,134 | 0.31 |
|
VGCX CN
|
Victoria Gold Corp |
BBG000BD0132
|
3,179,120
|
Stock | 38,272,468 | 0.30 |
|
EXK US
|
Endeavour Silver Corp |
BBG000K2HB18
|
8,683,055
|
Stock | 37,337,137 | 0.29 |
|
AR CN
|
Argonaut Gold Inc |
BBG000RMFCS8
|
15,827,214
|
Stock | 36,922,345 | 0.29 |
|
SVM US
|
Silvercorp Metals Inc |
BBG000CY5S22
|
8,983,283
|
Stock | 36,741,627 | 0.29 |
|
SBM AU
|
St Barbara Ltd |
BBG000BS4GC2
|
36,079,696
|
Stock | 35,199,193 | 0.27 |
|
AYA CN
|
Aya Gold & Silver Inc |
BBG000FTVZM3
|
4,876,630
|
Stock | 34,243,325 | 0.27 |
|
GGD CN
|
Gogold Resources Inc |
BBG000PYQ5N2
|
14,034,603
|
Stock | 30,988,474 | 0.24 |
|
WGX AU
|
Westgold Resources Ltd |
BBG000BG27F7
|
21,601,277
|
Stock | 25,220,556 | 0.20 |
|
--
|
Other/Cash |
--
|
--
|
Cash | -8,245,413 | -0.06 |
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These are not recommendations to buy or to sell any security. Securities and holdings may vary.