GDX vs QQQ
VanEck Gold Miners ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. GDX delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | GDX | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.51% | 0.18% | |
| AUM | $22.6B | $496.3B | |
| Dividend Yield | 0.86% | 0.44% | |
| Holdings | 68 | 108 | |
| YTD Return | +16.47% | +16.23% | |
| 1Y Return | +72.45% | +26.23% | |
| 3Y Return (annualized) | +55.17% | +25.75% | |
| 5Y Return (annualized) | +28.25% | +14.78% | |
| Volatility (annualized) | 37.8% | 30.6% | |
| Max Drawdown | -80.3% | -83.0% | |
| Fund Family | VanEck | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 16, 2006 | Mar 10, 1999 |
GDX vs QQQ Performance
VanEck Gold Miners ETF (GDX) is a ETF from VanEck and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year GDX returned +72.45% while QQQ returned +26.23%. Year to date, GDX is up 16.47% versus a gain of 16.23% for QQQ.
Over three years, GDX compounded at +55.17% per year against +25.75% for QQQ; over five years the annualized figures are +28.25% and +14.78% respectively. Across the full 20-year window we track, QQQ has the edge at +13.02% annualized vs +6.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GDX has been the more volatile fund, with annualized monthly volatility of 37.8% compared with 30.6% for QQQ. 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 -83.0% for QQQ. 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 0.18. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GDX charges 0.51% per year while QQQ charges 0.18%. On a $10,000 position that is $51 vs $18 annually, a gap of $33 per year that compounds over a long holding period. On income, GDX currently yields 0.86% against 0.44% for QQQ.
Holdings Overlap
GDX and QQQ share 0 holdings out of 161 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GDX or QQQ?
GDX has an expense ratio of 0.51% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $33 per year of difference.
Which performed better, GDX or QQQ?
Over the past year GDX returned +72.45% vs +26.23% for QQQ, so GDX leads on 1-year performance. Over the longest common window we track (20 years), GDX annualized +6.00% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, GDX or QQQ?
GDX has been the more volatile fund at 37.8% annualized versus 30.6% for QQQ. Worst drawdown: GDX -80.3% vs QQQ -83.0%.
Should I hold both GDX and QQQ?
GDX and QQQ have a monthly-return correlation of 0.18, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GDX and QQQ?
GDX and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 161 unique securities.
Which pays a higher dividend, GDX or QQQ?
GDX yields 0.86% while QQQ yields 0.44%, so GDX currently pays the higher dividend yield.
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