ETF comparison
GDX vs GUNR
Both Materials.
VanEck Gold Miners ETF · FlexShares Morningstar Global Upstream Natural Resources Index Fund
Holdings overlap
11 positions appear in both funds. Buying equal dollars of GDX and GUNR would leave roughly 10.2% of each dollar exposed to the same underlying securities.
Side by side
Sub-score comparison
Tracking quality isn't part of the composite — see what we don't score for why.
Cost difference
GUNR is 5 bps cheaper than GDX. On a $100,000 position that's about $50/yr more in fees for GDX.
Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with GDX vs GUNR.
Top shared holdings
11 shared in total| # | Holding | In GDX | In GUNR | Overlap |
|---|---|---|---|---|
| 1 | Newmont Corp | 10.77% | 2.05% | 2.05% |
| 2 | Agnico Eagle Mines Ltd | 12.08% | 1.99% | 1.99% |
| 3 | Barrick Mining Corp | 7.63% | 1.37% | 1.37% |
| 4 | Wheaton Precious Metals Corp | 4.89% | 1.19% | 1.19% |
| 5 | Franco-Nevada Corp | 5.16% | 0.85% | 0.85% |
| 6 | Kinross Gold Corp | 4.68% | 0.78% | 0.78% |
| 7 | Northern Star Resources Ltd | 2.59% | 0.49% | 0.49% |
| 8 | Pan American Silver Corp | 3.19% | 0.47% | 0.47% |
| 9 | Evolution Mining Ltd | 1.57% | 0.39% | 0.39% |
| 10 | Alamos Gold Inc | 2.56% | 0.34% | 0.34% |
| 11 | Royal Gold Inc | 2.22% | 0.31% | 0.31% |
Only in GDX
41 total- Anglogold Ashanti Plc 5.09%
- Gold Fields Ltd 4.48%
- Coeur Mining Inc 2.43%
- Equinox Gold Corp 1.64%
- Endeavour Mining PLC 1.58%
- First Majestic Silver Corp 1.57%
- Industrias Penoles SAB de CV 1.35%
- Fresnillo PLC 1.33%
- IAMGOLD Corp 1.32%
- Hecla Mining Co 1.26%
Only in GUNR
129 total- Corteva, Inc. 5.00%
- Exxon Mobil Corp. 4.96%
- Nutrien Ltd. 4.83%
- BHP Group Ltd. 4.16%
- Shell plc 3.89%
- Chevron Corp. 3.78%
- Archer-Daniels-Midland Co. 3.25%
- TotalEnergies SE 2.87%
- Rio Tinto plc 2.24%
- BP plc 1.81%
Open GDX or GUNR at a brokerage
Both funds trade commission-free at major US brokerages.
Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.
Holdings overlap is the sum of min(weight_a, weight_b) over positions
matched on ISIN (CUSIP fallback). Methodology: see
/methodology/.
Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.