GDX vs FMAT: Holdings Overlap
VanEck · 51 holdings · $23.7B · as of 2026-03-31
FMATFidelity MSCI Materials Index ETF
Fidelity · 103 holdings · $579M · as of 2026-04-30
Holdings snapshots are 30 days apart (GDX: 2026-03-31, FMAT: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are GDX and FMAT?
VanEck Gold Miners ETF (GDX, by VanEck) holds 51 positions; Fidelity MSCI Materials Index ETF (FMAT, by Fidelity) holds 103. They have 4 holdings in common, and by portfolio weight the two funds are 11.0% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 11.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 4GDX holds 51 · FMAT holds 103
- Weight in Shared Holdings
- GDX 17%·FMAT 11%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in GDX
47 of 51 positions (83.0% of the fund) are not held by FMAT. Showing the top 30 by weight.
Sector Breakdown
| Sector | GDX | FMAT |
|---|---|---|
| Materials | 97.4% | 99.5% |
| Energy | 0.0% | 0.3% |
| Consumer Discretionary | 0.0% | 0.0% |
| Other Sectors | 0.0% | 0.0% |
| Unclassified | 2.4% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (2% of GDX, 0% of FMAT).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| GDX | +18.6% | +4.8% | +56.3% | +47.0% | +23.7% | +12.6% | 0.70% |
| FMAT | +3.2% | +14.7% | +20.8% | +10.3% | +6.9% | +10.0% | 1.38% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in GDX vs FMAT →
Shared Holdings(4)
The top 4 shared positions account for 100% of the overlap, led by NEM, RGLD and CDE.
Frequently Asked Questions
How much do GDX and FMAT overlap?
GDX and FMAT overlap by 11.0% of portfolio weight. They share 4 holdings (GDX holds 51 positions and FMAT holds 103), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GDX and FMAT?
The two portfolios are 11.0% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of GDX and FMAT?
The largest positions held by both funds are NEM, RGLD, CDE and HL. Together the top 4 shared positions account for 100% of the total overlap.
What does GDX own that FMAT doesn't?
47 positions (83.0% of GDX) are unique to GDX, led by AEM, ABX and FNV. In the other direction, 99 positions (88.8% of FMAT) are unique to FMAT.