What do the expense ratios of 0.51% for GDX and 0.39% for RING mean?

The expense ratio is the annual fee charged by the fund to manage investors’ assets. It is deducted from the fund’s holdings, reducing the investor’s return. For example, on a £10,000 investment, GDX charges £51 per year, while RING charges £39. This 0.12 percentage point difference means the lower-cost fund retains more capital over time, all else being equal.

What does a fund’s inception date indicate?

The inception date marks when the ETF began trading. GDX launched on 22 May 2006, providing over 19 years of history. RING launched later on 31 January 2012. A longer track record can offer more data for historical analysis, but it does not guarantee that past performance reflects future results.

What does the term net assets tell investors?

Net assets represent the total value of all the investments held by the fund minus its liabilities. GDX has $28.4 billion in net assets, making it significantly larger than RING, which holds $2.5 billion. Generally, larger funds may have better liquidity and stability, but the choice depends on individual investor preferences and trading volume needs.

How do the holdings of GDX and RING compare?

Both funds invest in global gold mining companies, and NEM and CDE are listed in the shared top-10 holdings for both. However, their weighting differs. NEM represents 10.91% of GDX’s portfolio, while it constitutes 16.37% of RING’s portfolio. RING appears more concentrated in this specific top holding, whereas GDX holds a more diversified basket.

What are the dividend yields for GDX and RING?

Dividend yield is the annual return on the investment’s market price. RING currently offers a dividend yield of 1.08%, which is higher than GDX’s 0.66%. These yields are derived from the profits of the underlying mining companies. Investors should note that dividend yields fluctuate based on the fund’s share price and company payouts.

Which fund has a higher expense ratio?

GDX has a higher expense ratio compared to its counterpart. According to the data, GDX charges 0.51%, while RING charges a lower rate of 0.39%. This means that, purely from a fee perspective, RING is less expensive to hold on an annual basis.

What index do these funds track?

The index tracked information is not available for either GDX or RING in the current dataset. Consequently, it is not possible to compare the specific methodologies or constituents of their underlying indices using the provided data.

What top holdings are unique to GDX?

GDX lists several top holdings that are not explicitly shown as top holdings for RING in the provided data. These include AU at 5.02%, RGLD at 1.93%, EQX at 1.65%, and HL at 1.34%. This suggests GDX has a broader range of top exposures visible in the dataset compared to RING.

How do the fund sizes differ?

There is a notable size difference between the two ETFs. GDX holds net assets of $28.4 billion, making it substantially larger in terms of asset base. RING holds net assets of $2.5 billion. While both are significant funds, the disparity in AUM can influence trading volume and potential market impact for traders.

What sector weights do the funds have?

The sector weights for both GDX and RING are not available in the provided ground truth. Sector weights would indicate how the fund’s assets are distributed among various economic sectors, but without this data, a specific sector breakdown cannot be presented.

How does portfolio concentration differ between the two?

RING is described as having notable portfolio concentration, specifically with NEM accounting for 16.37% of its assets. In comparison, GDX lists NEM as its top holding at 10.91%. This indicates that the single largest position in RING carries a higher relative weight than in GDX, potentially exposing it to greater company-specific risk if that holding performs poorly.

What is the main difference in distribution payouts?

RING provides a comparatively higher dividend yield of 1.08%, whereas GDX offers 0.66%. Higher yield funds may appeal to those focusing on current income, but investors must remember that yields can fluctuate and are not guaranteed. The choice depends on whether an investor prioritises distribution levels or other factors like expense ratios.

GDX vs RING

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare GDX and RING. Both track global gold miners. Analyze expenses, net assets, dividends, and holdings. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

GDX

Metric

RING

0.51%

Expense Ratio

0.39%

0.66%

Dividend Yield

1.08%

$28.42B

Net Assets

$2.50B

62

Holdings

52

May 22, 2006

Inception Date

Jan 31, 2012

–

Index Tracked

–

Equity Precious Metals

Fund Category

Equity Precious Metals

RING costs about $12.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	GDX	RING
NEMNewmont Corporation	10.91%	16.37%
CDECoeur Mining, Inc.	2.29%	3.38%

Discover More Comparisons

GDX vs GLD

Compare GDX and GLD: 0.51% vs 0.40% expense ratio, 62 gold mining stocks vs physical bullion, a 0.67% yield vs no dividend, and $28B vs $148B in assets.

GDX vs SGDM

Compare GDX and SGDM on fees, holdings, dividends and tracking. GDX costs 0.51%, SGDM 0.46%. Top holdings include NEM and AU. Index data not available.

GDX vs SLVP

Compare GDX and SLVP ETFs. Review fee structures, top holdings, dividend yields, tracking methods, and operational history for these precious metals funds.

Investment Analysis

GDX

Pros

The fund holds substantial net assets of 28.4 billion dollars.
It was launched on 22 May 2006 giving a long history.
Top holdings include NEM and AU.

Considerations

Expense ratio of 0.51% is high relative to peers.
Dividend yield of 0.66% remains modest.
Tracked index methodology is not available.

RING

Pros

Expense ratio of 0.39% is lower than the competitor.
Dividend yield of 1.08% is comparatively higher.
It was launched on 31 January 2012.

Considerations

Net assets of 2.5 billion dollars are significantly smaller.
Tracked index information is not available.
Portfolio concentration is notable with NEM at 16.37%.

Related Market Insights

The New Gold Rush: Fed Probe Sparks Flight to Safety

A criminal probe into the Fed Chair has sent gold prices soaring to record highs. Discover how Nemo's Gold Rush Neme helps investors gain exposure to this ultimate safe haven asset.

Aimee Silverwood | Financial Analyst

13 January 2026

Read Insight

Related Market Insights

The New Gold Rush: Fed Probe Sparks Flight to Safety

A criminal probe into the Fed Chair has sent gold prices soaring to record highs. Discover how Nemo's Gold Rush Neme helps investors gain exposure to this ultimate safe haven asset.

Aimee Silverwood | Financial Analyst

13 January 2026

Read Insight

About GDX and RING

GDX (GDX)

GDX (Market Vectors Gold Miners ETF) gives investors broad exposure to publicly listed companies engaged in gold mining and related activities. As an ETF, it tracks an index of gold miner equities rather than the metal itself, so its performance reflects miners’ share prices, production profiles, costs and sensitivity to gold prices. GDX can offer a convenient way to gain sector exposure, diversification across many miners, and liquidity via an exchange-traded structure, but it also concentrates on a single commodity-linked industry which can be volatile. Factors investors should monitor include the gold price, miners’ operational costs, geopolitical risks in mining regions, and changes in interest rates that influence gold demand. This information is for educational purposes only and is not personal financial advice; values can fall as well as rise and past performance is not a guide to the future. Suitability depends on individual circumstances and risk tolerance.

RING (RING)

Which Baskets Do They Appear In?

Gold Rush: Could Fed Probe Drive Safe Haven Demand?

An unprecedented criminal probe into the Federal Reserve Chair has sparked a flight to safety, driving gold prices to record highs. This theme focuses on gold miners and related companies that stand to benefit from sustained demand for this safe-haven asset.

Published: 13 January 2026

Explore Basket