Gold has long been considered an enduring store of value even under the most adverse economic conditions. As a real asset, investing in gold can come with unique considerations such as tax treatment or the storage and safekeeping of the metal. The VanEck Gold Miners ETF (GDX), launched in 2006, is the first gold miners ETF in the U.S.

What is the VanEck Gold Miners ETF (GDX)?

VanEck Gold Miners ETF (GDX) is a U.S.-registered, passively managed exchange-traded fund that seeks to replicate, before fees and expenses, the price and yield performance of the MarketVector Global Gold Miners Index (MVGDXTR). The fund provides U.S. investors with pure-play exposure to the world's largest publicly traded companies primarily involved in the mining of gold and silver. GDX is the world's largest gold miners ETF by assets under management and is listed on NYSE Arca for U.S. investors.

Is GDX available to U.S. investors?

Yes. VanEck Gold Miners ETF (GDX) is domiciled in the United States and listed on NYSE Arca. It is intended for U.S. investors and is distributed by Van Eck Securities Corporation, a wholly-owned subsidiary of Van Eck Associates Corporation, based at 666 Third Avenue, New York, NY 10017. It is regulated under the U.S. Investment Company Act of 1940.

Does GDX provide exposure to physical gold or to gold company stocks?

GDX invests exclusively in equity securities — the stocks of publicly traded gold and silver mining companies — not in physical gold bullion. The fund's performance is therefore influenced not only by gold and silver prices, but also by factors specific to individual mining companies including production costs, management quality, mine reserves, and operational efficiency. U.S. investors seeking direct exposure to physical gold bullion may wish to consider VanEck's separate physical gold product offerings. GDX is designed for investors who want leveraged sensitivity to gold prices through the equity of gold mining companies.

What is the difference between VanEck Gold Miners ETF (GDX) and the VanEck Gold Miners UCITS ETF?

VanEck offers two versions of its Gold Miners ETF — one registered in the United States for U.S. investors and one structured as a UCITS fund domiciled in Ireland for non-U.S. investors. Since September 19, 2025, both versions track the same underlying index — the MarketVector Global Gold Miners Index (MVGDXTR) — making the key differences between the two funds structural and regulatory rather than strategic. These differences include domicile, exchange listing, expense ratio, AUM, track record, income treatment, and investor eligibility. U.S. investors should only use the U.S.-listed GDX. The UCITS version is not registered under the U.S. Investment Company Act of 1940 or the U.S. Securities Act of 1933 and is not intended for U.S. persons.

Where is GDX domiciled and listed?

GDX is domiciled in the United States and listed on NYSE Arca, regulated under the U.S. Investment Company Act of 1940, and distributed by Van Eck Securities Corporation. The UCITS version is domiciled in Ireland, registered with the Central Bank of Ireland, and listed on multiple European exchanges including the London Stock Exchange (tickers: GDX in USD, GDGB in GBP), Deutsche Börse (G2X in EUR), SIX Swiss Exchange (GDX in CHF), Borsa Italiana (GDX in EUR), and BATS Chi-X. It is authorized and distributed under the EU's MiFID/UCITS framework by VanEck (Europe) GmbH, with a registered address at Kreuznacher Str. 30, 60486 Frankfurt, Germany.

GDX

VanEck Gold Miners ETF

Fact Sheet

Fund Faq

Summary Prospectus

Let's Connect

Related Insights

Why GDX

Nation's First Gold Miners ETFHighly liquid ETF and most popular investment product of its kind. Source: Morningstar. Popularity measured by assets under management of all gold miner ETFs.

High Beta Exposure to Gold PricesGold miners have historically provided leveraged exposure to gold prices
Source: Morningstar.

Industry LeadersPortfolio of the largest global gold mining companies

VanEck Gold Miners ETF (GDX^®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MarketVector Global Gold Miners Index (MVGDXTR), which is intended to track the overall performance of companies involved in the gold mining industry.

Performance

Holdings

Daily Holdings (%) as of 05/20/2026

Download XLS

Total Holdings: 57

Ticker	Holding Name	% of Net Assets	Market Value (US$)
NEM	Newmont Corp	11.30	2,973,723,066
AEM	Agnico Eagle Mines Ltd	11.22	2,950,638,057
B	Barrick Mining Corp	8.10	2,131,333,084
AU	Anglogold Ashanti Plc	5.13	1,349,735,446
WPM	Wheaton Precious Metals Corp	5.03	1,322,015,888
FNV	Franco-Nevada Corp	4.98	1,309,888,570
KGC	Kinross Gold Corp	4.64	1,221,042,431
GFI	Gold Fields Ltd	4.25	1,118,312,303
PAAS	Pan American Silver Corp	3.39	892,477,834
NST AU	Northern Star Resources Ltd	2.69	706,901,165
CDE	Coeur Mining Inc	2.44	640,953,471
AGI	Alamos Gold Inc	2.40	632,678,723
RGLD	Royal Gold Inc	2.06	541,049,692
PE&OLES* MF	Industrias Penoles Sab De Cv	1.81	474,982,880
EDV LN	Endeavour Mining Plc	1.66	437,873,683
EVN AU	Evolution Mining Ltd	1.58	415,340,048
AG	First Majestic Silver Corp	1.54	406,031,381
EQX	Equinox Gold Corp	1.48	390,597,215
FRES LN	Fresnillo Plc	1.42	373,517,197
IAG	Iamgold Corp	1.23	324,645,075
HL	Hecla Mining Co	1.23	324,103,535
HMY	Harmony Gold Mining Co Ltd	1.19	312,362,490
LUG CN	Lundin Gold Inc	1.12	293,871,122
EGO	Eldorado Gold Corp	1.09	285,776,478
OGC CN	Oceanagold Corp	1.07	282,772,067
BVN	Cia De Minas Buenaventura Saa	1.01	266,403,529
BTG	B2gold Corp	0.91	238,450,592
DPM CN	Dundee Precious Metals Inc	0.86	225,055,776
SSRM	Ssr Mining Inc	0.85	223,767,342
GMIN CN	G Mining Ventures Corp	0.83	219,064,484
1818 HK	Zhaojin Mining Industry Co Ltd	0.82	214,539,878
GGP AU	Greatland Resources Ltd	0.70	184,660,906
OR	Or Royalties Inc	0.69	181,008,095
DSV CN	Discovery Silver Corp	0.68	177,985,641
RMS AU	Ramelius Resources Ltd	0.64	169,343,515
PRU AU	Perseus Mining Ltd	0.60	157,103,913
KNT CN	K92 Mining Inc	0.58	152,738,642
ARMN	Aris Mining Corp	0.58	151,920,910
TXG CN	Torex Gold Resources Inc	0.55	144,479,661
GMD AU	Genesis Minerals Ltd	0.55	143,861,161
ARTG CN	Artemis Gold Inc	0.53	140,262,773
ORLA	Orla Mining Ltd	0.51	134,732,039
CGAU	Centerra Gold Inc	0.50	132,396,026
CMM AU	Capricorn Metals Ltd	0.49	129,164,813
BRMS IJ	Bumi Resources Minerals Tbk Pt	0.46	121,994,177
WDO CN	Wesdome Gold Mines Ltd/Canada	0.45	119,107,274
EXK	Endeavour Silver Corp	0.45	118,094,643
WGX AU	Westgold Resources Ltd	0.43	112,871,435
AMMN IJ	Amman Mineral Internasional Pt	0.43	112,104,910
SA	Seabridge Gold Inc	0.41	107,303,780
FSM	Fortuna Silver Mines Inc	0.40	104,529,966
-USD CASH-	--	0.00	340,763
-IDR CASH-	--	0.00	0
-HKD CASH-	--	0.00	0
-EUR CASH-	--	0.00	0
-CAD CASH-	--	0.00	308
-AUD CASH-	--	0.00	673
--	Other/Cash	0.05	12,074,553

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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

Market Capitalization (%)
Currency Exposure (%)
Sector Weightings (%)
Country Weightings (%)

Sector Weightings (%) as at 04/30/2026

Sector
% of Net Assets

Country Weightings (%) as at 04/30/2026

Country
% of Net Assets
Canada
48.40
United States
22.28
Australia
7.91
South Africa
5.39
Brazil
4.89
Mexico
3.49
United Kingdom
1.64
Indonesia
1.28
Burkina Faso
1.22
China
1.02
Peru
0.95
Turkey
0.82
Colombia
0.58
Other/Cash
0.13

Fees

Distributions

as of 05/20/2026

Distribution Frequency

Annual

30-Day SEC Yield

0.40%

Distribution Yield

0.73%

12 Month Yield

0.73%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Gold Miners ETF would have been 0.40% on 05/20/26. Distributions may vary from time to time.

Distribution History

Year	Ex-date	Record Date	Payable date	Dividend Income^‡	Short-Term Capital Gains	Long-Term Capital Gains	Return of Capital	Total Distributions
2025	12/22/2025	12/22/2025	12/26/2025	$ 0.6331	--	--	--	$ 0.63
2024	12/23/2024	12/23/2024	12/24/2024	$ 0.4025	--	--	--	$ 0.40
2023	12/18/2023	12/19/2023	12/22/2023	$ 0.5001	--	--	--	$ 0.50
2022	12/19/2022	12/20/2022	12/23/2022	$ 0.4762	--	--	--	$ 0.48
2021	12/20/2021	12/21/2021	12/27/2021	$ 0.5348	--	--	--	$ 0.53
2020	12/21/2020	12/22/2020	12/28/2020	$ 0.1899	--	--	--	$ 0.19
2019	12/23/2019	12/24/2019	12/30/2019	$ 0.1905	--	--	--	$ 0.19
2018	12/20/2018	12/21/2018	12/27/2018	$ 0.1050	--	--	--	$ 0.10
2017	12/18/2017	12/19/2017	12/22/2017	$ 0.1760	--	--	--	$ 0.18
2016	12/19/2016	12/21/2016	12/23/2016	$ 0.0550	--	--	--	$ 0.06
2015	12/21/2015	12/23/2015	12/28/2015	$ 0.1160	--	--	--	$ 0.12
2014	12/22/2014	12/24/2014	12/29/2014	$ 0.1210	--	--	--	$ 0.12
2013	12/23/2013	12/26/2013	12/30/2013	$ 0.1910	--	--	--	$ 0.19
2012	12/24/2012	12/27/2012	12/31/2012	$ 0.4620	--	--	--	$ 0.46
2011	12/23/2011	12/28/2011	12/30/2011	$ 0.1500	--	--	--	$ 0.15
2010	12/23/2010	12/28/2010	12/30/2010	$ 0.4010	--	--	--	$ 0.40
2009	12/23/2009	12/28/2009	12/30/2009	$ 0.1110	--	--	--	$ 0.11
2008	12/26/2008	12/29/2008	12/31/2008	--	--	--	--	$ 0.00
2007	12/24/2007	12/27/2007	12/31/2007	$ 0.7450	--	--	--	$ 0.74
2006	12/21/2006	12/26/2006	12/29/2006	$ 0.1150	--	--	--	$ 0.12

^‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.

Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.

Click here to access more detailed yearend tax information

Team

Resources

Regulatory Information

Name
Frequency
Summary Prospectus
Annually
Statutory Prospectus
Annually
Statement of Additional Information (SAI)
Annually
Annual Report
Annually
Semi-Annual Report
Annually
Annual Financial Statements & Other Information
Annually
Semi-Annual Financial Statements & Other Information
Annually

Fund Documents

Name
Frequency
Fact Sheet
All GDX Holdings
Daily
VanEck Tax Information & Distributions
Annually
NAV & Premium/Discount History
Daily
Solvency Report for GDX
Quarterly
VAG Report
Quarterly
VanEck ETF Guide
Annually

Thought Leadership

Name
Frequency
Gold Investing Insights

GDX VanEck Gold Miners ETF

GDX VanEck Gold Miners ETF

Documents

Overview

Why GDX

Performance

Holdings

Daily Holdings (%) as of 05/20/2026

Portfolio

Sector Weightings (%) as at 04/30/2026

Country Weightings (%) as at 04/30/2026

Fees

Distributions

as of 05/20/2026

Distribution History

Team

Resources

Regulatory Information

Fund Documents

Thought Leadership

GDX

VanEck Gold Miners ETF

GDX

VanEck Gold Miners ETF