GDX vs XLB: Holdings Overlap
VanEck · 51 holdings · $23.7B · as of 2026-03-31
XLBState Street® Materials Select Sector SPDR® ETF
State Street (SPDR) · 25 holdings · $8.4B · as of 2026-08-06
Holdings snapshots are 128 days apart (GDX: 2026-03-31, XLB: 2026-08-06). 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 XLB?
VanEck Gold Miners ETF (GDX, by VanEck) holds 51 positions; State Street® Materials Select Sector SPDR® ETF (XLB, by State Street (SPDR)) holds 25. They have 1 holdings in common, and by portfolio weight the two funds are 6.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 6.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1GDX holds 51 · XLB holds 25
- Weight in Shared Holdings
- GDX 11%·XLB 7%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
50 of 51 positions (89.0% of the fund) are not held by XLB. Showing the top 30 by weight.
Sector Breakdown
| Sector | GDX | XLB |
|---|---|---|
| Materials | 97.4% | 99.9% |
| 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 XLB).
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% |
| XLB | +2.6% | +17.5% | +22.4% | +10.0% | +6.8% | +10.2% | 1.61% |
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 XLB →
Shared Holdings(1)
 NEMNewmont Corporation COM | 10.77% | 6.60% | 6.60% |
|---|
Frequently Asked Questions
How much do GDX and XLB overlap?
GDX and XLB overlap by 6.6% of portfolio weight. They share 1 holdings (GDX holds 51 positions and XLB holds 25), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GDX and XLB?
The two portfolios are 6.6% 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 XLB?
The largest positions held by both funds are NEM. Together the top 1 shared positions account for 100% of the total overlap.
What does GDX own that XLB doesn't?
50 positions (89.0% of GDX) are unique to GDX, led by AEM, ABX and FNV. In the other direction, 24 positions (93.3% of XLB) are unique to XLB.