GDX Investors Left $348 on the Table in One Year and Most Never Noticed

Investors seeking leveraged gold upside via the VanEck Gold Miners ETF (GDX) were largely disappointed over the past decade: a nearly identical, lower-fee fund delivered better results, and physical gold also outperformed. The piece frames higher costs as a key headwind to miner-ETF returns versus both a cheaper peer and spot gold.

Analysis

Investors seeking leveraged gold upside via the VanEck Gold Miners ETF (GDX) were largely disappointed over the past decade: a nearly identical, lower-fee fund delivered better results, and physical gold also outperformed. The piece frames higher costs as a key headwind to miner-ETF returns versus both a cheaper peer and spot gold.