GDX Performance — VanEck Gold Miners ETF
Data updated: 2026-08-26
GDX returned −12.40% year to date and +45.75% over one year to Jun 2026. Annualised returns are +37.44% over 3 years and +18.91% over 5 years. The fund beat its Commodities category average: $100 invested three years ago grew to $260, against $165 for the category, and to $146 over one year, against $130. Volatility over the past three years was 36.15% a year. In the 12 months to Jun 2026 the fund took in a net $708.9M, and assets reached $22.75B.
GDX Growth of $100
What $100 invested in VanEck Gold Miners ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Commodities category average over the same months.
| Period | GDX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $146 | $130 |
| 3 years (Jul 2023 – Jun 2026) | $260 | $165 |
| 5 years (Jul 2021 – Jun 2026) | $238 | $171 |
| Since data start (Jul 2019 – Jun 2026) | $318 | $213 |
GDX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −12.40% |
| 1 year | +45.75% |
| 3 years (annualised) | +37.44% |
| 5 years (annualised) | +18.91% |
GDX Annual Returns
Calendar-year total returns of VanEck Gold Miners ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | −12.40% |
| 2025 | +155.59% |
| 2024 | +10.17% |
| 2023 | +10.21% |
| 2022 | −8.86% |
| 2021 | −9.55% |
| 2020 | +23.31% |
| 2019 (Jul–Dec) | +15.21% |
GDX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +10.1% | +22.1% | −21.0% | −3.2% | +0.9% | −15.5% | — | — | — | — | — | — |
| 2025 | +14.8% | +2.4% | +15.2% | +6.8% | +3.1% | +3.1% | −0.9% | +22.0% | +21.2% | −5.8% | +15.4% | +4.4% |
| 2024 | −9.9% | −6.2% | +19.8% | +5.7% | +6.3% | −3.8% | +10.9% | +2.2% | +3.0% | +1.4% | −6.9% | −8.8% |
| 2023 | +11.5% | −14.4% | +18.5% | +3.7% | −8.5% | −2.4% | +4.4% | −6.6% | −8.1% | +4.3% | +11.3% | +1.1% |
| 2022 | −5.5% | +13.9% | +11.5% | −8.4% | −9.4% | −13.7% | −4.5% | −9.0% | +0.7% | +0.8% | +19.4% | +0.8% |
| 2021 | −4.1% | −9.6% | +3.8% | +5.9% | +14.3% | −13.5% | +2.9% | −6.6% | −9.7% | +7.8% | +0.2% | +2.3% |
| 2020 | −1.2% | −8.6% | −11.6% | +38.5% | +5.6% | +6.9% | +17.6% | −2.0% | −7.1% | −4.3% | −7.8% | +4.5% |
| 2019 | — | — | — | — | — | — | +4.3% | +11.8% | −10.2% | +4.5% | −3.6% | +9.2% |
GDX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 36.15%
- 3-year Sharpe ratio: 0.91 (vs 4.5% risk-free rate)
- Best month: +22.11% (Feb 2026)
- Worst month: −21.04% (Mar 2026)
GDX Fund Flows
Monthly money in and out of VanEck Gold Miners ETF, from SEC Form N-PORT.
- 12-month net flow: $708.9M
- 12-month gross sales (incl. reinvestments): $6.3B
- Sales ÷ redemptions: 1.13×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $345.4M | $527.4M | −$182.0M |
| May 2026 | $135.1M | $507.9M | −$372.8M |
| Apr 2026 | $355.7M | $361.9M | −$6.2M |
| Mar 2026 | $682.8M | $1.3B | −$661.2M |
| Feb 2026 | $1.3B | $314.6M | $1.0B |
| Jan 2026 | $826.2M | $258.2M | $568.0M |
| Dec 2025 | $691.1M | $178.3M | $512.8M |
| Nov 2025 | $138.2M | $661.3M | −$523.1M |
| Oct 2025 | $968.3M | $218.8M | $749.5M |
| Sep 2025 | $230.3M | $861.1M | −$630.8M |
| Aug 2025 | $602.5M | $122.3M | $480.2M |
| Jul 2025 | $7.9M | $261.3M | −$253.4M |
GDX Assets Under Management
Net assets of VanEck Gold Miners ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $22.75B |
| 2026-03-31 | $28.16B |
| 2025-12-31 | $25.80B |
| 2025-09-30 | $22.21B |
| 2025-06-30 | $15.49B |
| 2025-03-31 | $14.82B |
| 2024-12-31 | $12.66B |
| 2024-09-30 | $15.36B |
| 2024-06-30 | $13.23B |
| 2024-03-31 | $13.47B |
| 2023-12-31 | $13.10B |
| 2023-09-30 | $10.66B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.