ETF comparison

FMAT vs GDX

Both Materials.

Fidelity MSCI Materials Index ETF · VanEck Gold Miners ETF

Holdings overlap

Weighted by ISIN/CUSIP
11.0 %

4 positions appear in both funds. Buying equal dollars of FMAT and GDX would leave roughly 11.0% of each dollar exposed to the same underlying securities.

FMAT only 88.9% Shared 11.0% GDX only 89.4%
In FMAT only
100 positions
Shared
4 positions
In GDX only
48 positions

Side by side

FMAT

Fidelity MSCI Materials Index ETF

Fidelity · Materials

70 composite / 100
Expense ratio
0.084%
Net assets
$623.5M
TTM yield
1.45%
Top-10 conc.
55.9%
GDX

VanEck Gold Miners ETF

VanEck · Materials

66 composite / 100
Expense ratio
0.51%
Net assets
$22.75B
TTM yield
0.86%
Top-10 conc.
60.6%

Sub-score comparison

92
Cost
49
83
Tax efficiency
84
48
Liquidity
100
34
Concentration
28
Tracking quality
FMAT sub-score GDX

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

FMAT is 43 bps cheaper than GDX. On a $100,000 position that's about $426/yr more in fees for GDX.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with FMAT vs GDX.

Top shared holdings

4 shared in total
# Holding In FMAT In GDX Overlap
1 Newmont Corp 7.77% 10.77% 7.77%
2 Royal Gold Inc 1.26% 2.22% 1.26%
3 Coeur Mining Inc 1.19% 2.43% 1.19%
4 Hecla Mining Co 0.77% 1.26% 0.77%

Only in FMAT

100 total
  • Linde PLC 14.99%
  • Freeport-McMoRan Inc 5.32%
  • CRH PLC 5.09%
  • Sherwin-Williams Co/The 4.85%
  • Air Products and Chemicals Inc 4.28%
  • Ecolab Inc 4.26%
  • Corteva Inc 3.51%
  • Nucor Corp 3.30%
  • Vulcan Materials Co 2.55%
  • Martin Marietta Materials Inc 2.39%

Only in GDX

48 total
  • Agnico Eagle Mines Ltd 12.08%
  • Barrick Mining Corp 7.63%
  • Franco-Nevada Corp 5.16%
  • Anglogold Ashanti Plc 5.09%
  • Wheaton Precious Metals Corp 4.89%
  • Kinross Gold Corp 4.68%
  • Gold Fields Ltd 4.48%
  • Pan American Silver Corp 3.19%
  • Northern Star Resources Ltd 2.59%
  • Alamos Gold Inc 2.56%

Open FMAT or GDX at a brokerage

Both funds trade commission-free at major US brokerages.

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.