GDX vs XLI
Comparison between VANECK GOLD MINERS ETF (GDX, ETF) and THE INDUSTRIAL SELECT SECTOR SPDR FUND (XLI, ETF).
GDX is from the Basic Materials sector, while XLI is from the Industrials sector.
5-Year PerformanceGDX has outperformed XLI, delivering a return of +22.0% compared to +12.1%
GDX vs XLI - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
GDX
$28B
Winner
XLI
$28B
Expense Ratio
GDX
0.51%
Winner
XLI
0.08%
Max Drawdown
GDX
81.28%
Winner
XLI
63.34%
Sharpe Ratio
Winner
GDX
1.59
XLI
1.57
5Y Beta
Winner
GDX
0.69
XLI
0.89
P/E Ratio
Winner
GDX
18.95
XLI
32.67
Forward P/E
Winner
GDX
12.09
XLI
26.30
PEG Ratio
GDX
N/A
XLI
0.70
5Y Dividends CAGR
Winner
GDX
21.83%
XLI
7.99%
5Y EPS CAGR
Winner
GDX
50.56%
XLI
10.48%
Debt to Equity
Winner
GDX
15.12%
XLI
65.95%
P/S Ratio
GDX
5.75
Winner
XLI
3.19
P/B Ratio
Winner
GDX
3.53
XLI
7.10
GDX vs XLI - Holdings Comparison
GDX and XLI have 1 common holdings. Overlap is 0.00%
GDX's top 25 holdings weight is 85.50%. XLI's top 25 holdings weight is 66.13%.
| Rank | GDX | XLI |
|---|---|---|
| #1 | NEWMONT CORP (NEM) - 13.08% | CATERPILLAR INC (CAT) - 7.14% |
| #2 | AGNICO EAGLE MINES LTD (AEM) - 11.46% | GE AEROSPACE (GE) - 5.69% |
| #3 | BARRICK MINING CORP (B) - 7.37% | GE VERNOVA INC (GEV) - 5.50% |
| #4 | WHEATON PRECIOUS METALS CORP (WPM) - 7.10% | RTX CORP (RTX) - 4.42% |
| #5 | FRANCO-NEVADA CORP (FNV) - 5.74% | BOEING CO (BA) - 3.40% |
| #6 | GOLD FIELDS LTD ADR (GFI) - 5.11% | EATON CORP PLC (ETN) - 3.01% |
| #7 | ANGLOGOLD ASHANTI PLC (AU) - 4.59% | UNION PACIFIC CORP (UNP) - 2.98% |
| #8 | KINROSS GOLD CORP (KGC) - 4.15% | UBER TECHNOLOGIES INC (UBER) - 2.86% |
| #9 | ZIJIN MINING GROUP CO LTD CLASS H (n/a) - 3.37% | DEERE & CO (DE) - 2.67% |
| #10 | NORTHERN STAR RESOURCES LTD (n/a) - 2.95% | HONEYWELL INTERNATIONAL INC (HON) - 2.54% |
| #11 | PAN AMERICAN SILVER CORP (PAAS) - 2.28% | PARKER HANNIFIN CORP (PH) - 2.28% |
| #12 | ALAMOS GOLD INC CLASS A (AGI) - 1.98% | VERTIV HOLDINGS CO CLASS A (VRT) - 2.19% |
| #13 | ROYAL GOLD INC (RGLD) - 1.87% | TRANE TECHNOLOGIES PLC CLASS A (TT) - 2.00% |
| #14 | EVOLUTION MINING LTD (n/a) - 1.85% | LOCKHEED MARTIN CORP (LMT) - 1.95% |
| #15 | ZHAOJIN MINING INDUSTRY CO LTD CLASS H (n/a) - 1.61% | HOWMET AEROSPACE INC (HWM) - 1.81% |
| #16 | COEUR MINING INC (CDE) - 1.55% | QUANTA SERVICES INC (PWR) - 1.76% |
| #17 | ENDEAVOUR MINING PLC (n/a) - 1.41% | CUMMINS INC (CMI) - 1.66% |
| #18 | HARMONY GOLD MINING CO LTD ADR (HMY) - 1.41% | n/a (JCI) - 1.63% |
| #19 | n/a (EQX) - 1.19% | WASTE MANAGEMENT INC (WM) - 1.58% |
| #20 | HECLA MINING CO (HL) - 1.07% | CSX CORP (CSX) - 1.58% |
| #21 | OR ROYALTIES INC (OR) - 0.98% | FEDEX CORP (FDX) - 1.58% |
| #22 | IAMGOLD CORP (IAG) - 0.94% | AUTOMATIC DATA PROCESSING INC (ADP) - 1.50% |
| #23 | B2GOLD CORP (BTG) - 0.85% | GENERAL DYNAMICS CORP (GD) - 1.49% |
| #24 | ELDORADO GOLD CORP (EGO) - 0.83% | EMERSON ELECTRIC CO (EMR) - 1.46% |
| #25 | NEW GOLD INC (NGD) - 0.76% | NORTHROP GRUMMAN CORP (NOC) - 1.45% |
| Total Holdings | 65 | 82 |
GDX vs XLI - Historical Returns
Returns include dividend reinvestment.
1M
GDX
-3.66%
Winner
XLI
+1.62%
3M
GDX
-8.07%
Winner
XLI
-0.01%
6M
Winner
GDX
+31.29%
XLI
+13.66%
1Y
Winner
GDX
+94.87%
XLI
+29.05%
5Y(CAGR)
Winner
GDX
+22.05%
XLI
+12.14%
10Y(CAGR)
Winner
GDX
+16.06%
XLI
+14.06%
Max(CAGR)
GDX
+5.79%
Winner
XLI
+9.17%
GDX vs XLI - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | GDX | XLI |
|---|---|---|
| 2026 | +10.33% | +9.94% |
| 2025 | +144.40% | +19.75% |
| 2024 | +12.26% | +18.50% |
| 2023 | +6.25% | +17.87% |
| 2022 | -6.71% | -4.80% |
| 2021 | -15.37% | +24.08% |
| 2020 | +23.37% | +8.90% |
| 2019 | +40.08% | +28.43% |
| 2018 | -11.01% | -13.75% |
| 2017 | +7.65% | +23.23% |
| 2016 | +48.90% | +21.64% |
| 2015 | -26.95% | -4.19% |
| 2014 | -15.99% | +11.92% |
| 2013 | -54.72% | +37.25% |
| 2012 | -12.89% | +12.46% |
| 2011 | -14.17% | -1.82% |
| 2010 | +29.70% | +25.43% |
| 2009 | +39.01% | +17.74% |
| 2008 | -31.19% | -37.71% |
| 2007 | +23.26% | +12.77% |
| 2006 | +7.43% | +13.25% |
| 2005 | N/A | +3.64% |
| 2004 | N/A | +17.84% |
| 2003 | N/A | +28.54% |
| 2002 | N/A | -24.58% |
| 2001 | N/A | -6.01% |
| 2000 | N/A | +9.58% |
| 1999 | N/A | +8.76% |
GDX vs XLI Drawdown Comparison
The maximum drawdown for GDX was -80.35%, occurring on Jan 19, 2016. Recovery took 3499 trading sessions.
The maximum drawdown for XLI was -62.27%, occurring on Mar 9, 2009. Recovery took 896 trading sessions.
The current GDX drawdown is -18.34%. The current XLI drawdown is -2.92%.
| Rank | GDX | XLI |
|---|---|---|
| #1 | -80.35% Sep 8, 2011 - Aug 8, 2025 | -62.27% Oct 9, 2007 - Apr 29, 2011 |
| #2 | -70.79% Mar 14, 2008 - Sep 22, 2010 | -43.29% Dec 11, 2000 - Dec 1, 2004 |
| #3 | -30.84% Feb 27, 2026 - Mar 20, 2026 | -42.31% Feb 12, 2020 - Nov 9, 2020 |
| #4 | -20.52% Sep 5, 2006 - Feb 26, 2007 | -25.84% Apr 29, 2011 - Mar 15, 2012 |
| #5 | -19.96% Jul 19, 2007 - Sep 18, 2007 | -24.10% Sep 21, 2018 - Jul 24, 2019 |
| #6 | -19.14% Oct 16, 2025 - Dec 11, 2025 | -21.66% Jan 4, 2022 - Jun 15, 2023 |
| #7 | -19.03% Apr 8, 2011 - Sep 2, 2011 | -18.50% Nov 29, 2024 - May 16, 2025 |
| #8 | -18.56% Nov 6, 2007 - Jan 3, 2008 | -15.69% Feb 20, 2015 - Apr 27, 2016 |
| #9 | -17.71% Jun 2, 2006 - Jul 3, 2006 | -14.93% Dec 31, 1999 - Apr 7, 2000 |
| #10 | -17.58% Jan 28, 2026 - Feb 26, 2026 | -12.57% Aug 1, 2023 - Dec 12, 2023 |
| #11 | -16.18% Dec 6, 2010 - Apr 8, 2011 | -12.44% May 5, 2006 - Nov 16, 2006 |
| #12 | -13.48% Apr 16, 2007 - Jul 19, 2007 | -12.22% Mar 2, 2026 - Mar 30, 2026 |
| #13 | -12.82% Feb 26, 2007 - Apr 16, 2007 | -12.16% Mar 16, 2012 - Dec 10, 2012 |
| #14 | -12.32% Jan 14, 2008 - Feb 28, 2008 | -11.41% May 16, 2000 - Aug 11, 2000 |
| #15 | -10.99% Jul 3, 2006 - Aug 2, 2006 | -11.30% Jan 26, 2018 - Sep 21, 2018 |
Correlation
Correlation between GDX and XLI is 0.36 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
0.36
-101
Dividend Comparison (1999 - 2026)
GDX vs XLI dividend yield comparison.
| Year | GDX | XLI |
|---|---|---|
| 2026 | 0.00% | 0.26% |
| 2025 | 0.74% | 1.29% |
| 2024 | 1.19% | 1.44% |
| 2023 | 1.61% | 1.63% |
| 2022 | 1.66% | 1.63% |
| 2021 | 1.67% | 1.25% |
| 2020 | 0.53% | 1.55% |
| 2019 | 0.67% | 1.94% |
| 2018 | 0.50% | 2.15% |
| 2017 | 0.76% | 1.77% |
| 2016 | 0.26% | 2.07% |
| 2015 | 0.85% | 2.15% |
| 2014 | 0.66% | 1.85% |
| 2013 | 0.90% | 1.67% |
| 2012 | 1.00% | 2.27% |
| 2011 | 1.46% | 2.16% |
| 2010 | 0.65% | 1.68% |
| 2009 | 0.24% | 2.32% |
| 2008 | 0.00% | 3.10% |
| 2007 | 3.25% | 1.45% |
| 2006 | 0.29% | 2.22% |
| 2005 | 0.00% | 1.56% |
| 2004 | 0.00% | 1.30% |
| 2003 | 0.00% | 1.28% |
| 2002 | 0.00% | 1.60% |
| 2001 | 0.00% | 1.23% |
| 2000 | 0.00% | 1.06% |
| 1999 | 0.00% | 0.66% |
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