AUMI vs GDX

AUMIBThemes Gold Miners ETF

GDXBVanEck Gold Miners ETF

In short

AUMI Gold miners with the blends stripped out. AUMI tracks an index of roughly 30 large miners that must earn at least 90% of revenue from gold, and it charges less than the typical fund in its group.

GDX The original gold miner ETF, running since 2006. Roughly 60 mining companies in one ticker, for people who want equity exposure to gold's economics rather than a bar in a vault.

Stated mandate

AUMI The Fund seeks to track, before fees and expenses, an index of companies active in the gold mining industry. It uses a passive/indexing approach to pursue that objective.

GDX GDX seeks to track, before fees and expenses, the price and yield performance of the MarketVector Global Gold Miners Index, which is designed to represent companies involved in gold mining.

Why people hold it

• AUMI The "pure" in the index name is a rule: members must generate at least 90% of revenue from gold mining, so copper-and-gold conglomerates and diversified diggers stay out.solactive.comthemesetfs.com
• A 0.35% fee undercuts the peer-group median and the category's household names, VanEck's GDX (0.51%) and iShares' RING (0.39%).
• Roughly 30 names, free-float weighted, rebuilt on a set schedule: a concentrated, rules-based way to own the diggers rather than the metal.solactive.com

• GDX Launched in 2006, this is the elder statesman of gold mining funds: a multi-billion-dollar portfolio that is very actively traded, which usually means easy entries and exits.
• Owns the diggers, not the metal. It tracks the MarketVector Global Gold Miners Index, roughly 60 companies whose profits swing on the gap between gold prices and mining costs.
• At a 0.51% expense ratio it sits right at the typical price for a precious-metals miner fund, and it grades in the top quartile of its 18-fund peer group.

Worth knowing

• AUMI Thinly traded and small next to the group's giants, so bid-ask spreads can be wider and big orders can push the price.
• Concentrated by design and non-diversified: about 30 miners, one commodity, plus mine-level risks like costs, permits and politics.themesetfs.com
• Launched in December 2023, so the live track record is short, and cash comes back once or twice a year rather than monthly.

• GDX Cheaper shelf-mates exist. RING covers global gold miners at 0.39%, so you are paying a bit extra here, largely for scale and trading depth.
• Miner stocks are not bullion. They carry operating costs, debt, labor and country risk on top of the gold price, so moves tend to be sharper in both directions.
• Distributions come annually or semiannually, so this is an equity growth vehicle rather than a steady income line.

Full AUMI profile⁠

Full GDX profile⁠