GDX Fund Description

The Market Vectors Gold Miners ETF tracks a market-cap-weighted index of global gold mining firms that are listed on the NYSE, NYSE Arca or NASDAQ.

GDX ETF.com Insight

GDX is the most widely held fund in the Global Gold mining segment, a trading powerhouse with deep primary, secondary and derivatives markets. The fund tracks a cap-weighted index that is aa trading powerhouse with deep primary, secondary and derivatives markets broader version of the widely followed HUI Gold index, with about 40 names and big weightings in mining giants like Barrick and Goldcorp. None of the key firms at the top of the industry is missing, but since GDX is limited to firms traded in the US, it does miss some of the smaller, internationally traded firms, which gives it a US and Canada bias. In addition, it includes firms mining other precious metals, so just 3/4 of its portfolio is in pure gold miners. As a global industry benchmark, GDX falls a bit short, but it's still the top choice for all but the most discerning investors. (Insight updated 07/23/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 08/19/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

GDX (Mkt)
-0.93% 14.01% 26.31% -7.83% -24.04% -6.78% --

GDX (NAV)

-0.71% 14.09% 26.28% -7.82% -23.65% -6.34% --

NYSE Arca Gold Miners Index

-0.54% 14.24% 26.87% -7.15% -23.14% -5.75% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

GDX Top 10 Countries

GDX Top 10 Sectors

GDX Top 10 Holdings View All

GDX Summary Data

Van Eck

A company that produces and manages ETFs.

05/16/06

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.52%

The net total annual fee a fund holder pays to the issuer.

$8.04 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$849.1 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.04%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

GDX Portfolio Data

$10.47 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

-9.33

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.26

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

0.71%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/29/14

The date on which a security's price excludes an upcoming dividend.

40

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

GDX Index Data

NYSE Arca Gold Miners Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI ACWI Select Gold Miners Investable Market Index

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to GDX

PSAU, RING, GDXJ, GGGG, GLDX

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

GDX ETF.com Efficiency Insight

GDX is cheaper than all but one fund, and has amassed more assets than all of its competitors combined. For 52 bps, you get access to a thoroughly well-managed fund that has tracked its index well and avoided any cap gains distributions. Overall, GDX is a very solid choice. (Insight updated 07/23/2014)


Total Return
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 08/19/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

GDX (Mkt)
-0.93% 14.01% 26.31% -7.83% -24.04% -6.78% --

GDX (NAV)
-0.71% 14.09% 26.28% -7.82% -23.65% -6.34% --

NYSE Arca Gold Miners Index
-0.54% 14.24% 26.87% -7.15% -23.14% -5.75% --

MSCI ACWI Select Gold Miners Investable Market Index
-0.06% 12.89% 25.08% -4.34% -25.00% -5.81% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

GDX Portfolio Management

0.52%

The net annual fee a fund holder pays to the issuer.

-0.42%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.25%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.92%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

GDX Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

GDX Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

100% / 0%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

N/A

The multiple of the underlying index which the fund aims to deliver. For funds that reset, the leverage factor holds true only for the reset period, often just 1 day.

N/A

The time period at which the fund “trues up” its leverage factor. For funds that reset, the reset period–often just 1 day–is the length of time over which the fund delivers its leverage factor.

GDX ETF.com Tradability Insight

Roughly $700M worth of GDX trades day in, day out, and the liquidity of the portfolio only starts there. The underlying market is deep enough to handle the 500 or so creation units worth of shares that turn over every day, and likely even more if an investor wants to do so. The options market for GDX is also extremely active, so investors using overlay or hedging strategies can use GDX as well. (Insight updated 07/23/2014)

Average Spread

Premium/Discount

Volume

GDX ETF.com/ Block LiquidityAs of 08/20/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of GDX. GDX is rated a 5 out of 5.

GDX Tradability

32,202,243

The average number of shares traded during a 60 day period.

$849.1 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

29,849,336

Median number of shares traded over the past 45 trading days.

$791.57 M

Median dollar value of shares traded over the past 45 trading days.

0.04%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 60 days, in dollars.

0.00%

The middle value in the ranked set of all premium/discount values over a 12-month period.

0.62% / -0.49%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

92.54%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

596.99

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.04%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.16%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

2,376,815

The total number of net outstanding options contracts for an ETF.

$26.72

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

GDX ETF.com Fit Insight

Roughly $700M worth of GDX trades day in, day out, and the liquidity of the portfolio only starts there. The underlying market is deep enough to handle the 500 or so creation units' worth of shares that turn over every day, and likely even more if an investor wants to do so. The options market for GDX is also extremely active, so investors using overlay or hedging strategies can use GDX as well. (Insight updated 07/23/2014)

GDX Sector/Industry Breakdown

GDX Segment Benchmark
88.21% 77.75%
10.70% 7.25%

GDX Geographic Exposure

GDX Segment Benchmark
62.51% 64.91%
10.49% 12.24%
9.87% 8.20%
7.26% 5.68%
5.58% 5.23%
2.09% 2.03%
-- 1.26%
1.49% 0.45%
0.70% --

GDX Segment Benchmark
73.01% 77.16%
9.87% 8.20%
7.07% 6.93%
7.96% 5.68%
2.09% 2.03%
87.33% / 12.67% 88.52% / 11.48%

GDX Performance Statistics

0.92

The degree to which the fund and its segment benchmark move up and down in unison.

1.13

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

1.16

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.14

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.65%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI ACWI Select Gold Miners Investable Market Index

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

GDX Benchmark Comparison

GDX
40 Holdings
Segment Benchmark
36 Constituents
Shared Holdings
24 (Count)
 
76.51% (Weight)
GDXSegment Benchmark
$10.82 B$10.47 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

32%27%
49%57%
14%15%
5%1%
-9.74-9.33

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.151.26

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.28%1.28%

The weighted average of the current yield on the portfolio’s holdings.

3640

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

HighHigh

The level of return contribution attributable to the average portfolio constituent.