GDX vs IVV
VanEck Gold Miners ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. GDX delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | GDX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.51% | 0.03% | |
| AUM | $22.6B | $907.0B | |
| Dividend Yield | 0.86% | 1.10% | |
| Holdings | 68 | 508 | |
| YTD Return | +13.53% | +13.22% | |
| 1Y Return | +73.21% | +21.62% | |
| 3Y Return (annualized) | +53.91% | +22.17% | |
| 5Y Return (annualized) | +27.50% | +13.42% | |
| Volatility (annualized) | 37.7% | 15.1% | |
| Max Drawdown | -80.3% | -56.5% | |
| Fund Family | VanEck | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | May 16, 2006 | May 15, 2000 |
GDX vs IVV Performance
VanEck Gold Miners ETF (GDX) is a ETF from VanEck and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year GDX returned +73.21% while IVV returned +21.62%. Year to date, GDX is up 13.53% versus a gain of 13.22% for IVV.
Over three years, GDX compounded at +53.91% per year against +22.17% for IVV; over five years the annualized figures are +27.50% and +13.42% respectively. Across the full 20-year window we track, IVV has the edge at +7.02% annualized vs +5.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GDX has been the more volatile fund, with annualized monthly volatility of 37.7% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -80.3% for GDX and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.23. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GDX charges 0.51% per year while IVV charges 0.03%. On a $10,000 position that is $51 vs $3 annually, a gap of $48 per year that compounds over a long holding period. On income, GDX currently yields 0.86% against 1.10% for IVV.
Holdings Overlap
GDX and IVV share 1 holdings out of 563 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in GDX | Weight in IVV | Difference |
|---|---|---|---|
| NEM | 10.48% | 0.15% | 10.33% |
Frequently Asked Questions
Which is cheaper, GDX or IVV?
GDX has an expense ratio of 0.51% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $48 per year of difference.
Which performed better, GDX or IVV?
Over the past year GDX returned +73.21% vs +21.62% for IVV, so GDX leads on 1-year performance. Over the longest common window we track (20 years), GDX annualized +5.86% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, GDX or IVV?
GDX has been the more volatile fund at 37.7% annualized versus 15.1% for IVV. Worst drawdown: GDX -80.3% vs IVV -56.5%.
Should I hold both GDX and IVV?
GDX and IVV have a monthly-return correlation of 0.23, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GDX and IVV?
GDX and IVV share 1 common holdings with a 0.1% weight overlap. Combined, they hold 563 unique securities.
Which pays a higher dividend, GDX or IVV?
GDX yields 0.86% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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