VanEck Gold Miners UCITS ETF (Acc) (GDX.L)
A single fund giving you global exposure to the companies that dig gold and silver out of the ground.
Is VanEck Gold Miners UCITS ETF (Acc) a good fund for a UK beginner?
The honest version: A single fund giving you global exposure to the companies that dig gold and silver out of the ground.
Over about 2 years to 2026-07-15. This already includes the fund's dividends, which an accumulating fund reinvests for you. And it's the USD return - as a UK investor your actual £ return also moves with the exchange rate. Past performance is not a guide to the future, and it could just as easily have fallen.
This is a fund, so it moves with its whole basket (Gold) - not any single company's news. One share having a bad day barely shows up here.
What does VanEck Gold Miners UCITS ETF (Acc) do?
This fund tracks the NYSE Arca Gold Miners Index, which holds shares in global gold- and silver-mining companies rather than the physical metal itself. By making a single purchase, your money is spread across major mining firms like Newmont, Agnico Eagle Mines, and Barrick Mining. The ongoing charge is 0.53% a year, which means roughly £5.30 in fees annually for every £1,000 invested. As an accumulating fund, any dividends are automatically reinvested inside the fund to pick up more holdings.
Holds shares in global gold- and silver-mining companies rather than the metal itself; mining shares are concentrated and can be very volatile.
What's actually inside this fund?
Its 10 biggest holdings
- 1Newmont Corp14.5%
- 2Agnico Eagle Mines Ltd11.3%
- 3Barrick Mining Corp8.9%
- 4Wheaton Precious Metals Corp7.4%
- 5Anglogold Ashanti PLC5.9%
- 6Franco-Nevada Corp5.8%
- 7Gold Fields Ltd ADR4.6%
- 8Kinross Gold Corp4.3%
- 9Zijin Mining Group Co Ltd Class H3.2%
- 10Pan American Silver Corp2.9%
The top 10 add up to about 69% of the fund. A large chunk sits in just a handful of names - less spread than the total holding count suggests.
By sector
- Materials100%
Top holdings and sector split from the fund's published data as of the figures date - they drift over time as the fund and the index change.
- Simple one-fund exposure to global gold and silver miners
- Spreads your money across a basket of multiple mining companies rather than just one
- Automatically reinvests dividends to grow the fund from within
- It falls in value when the mining market falls
- Heavy concentration in a few giant mining companies
- Mining shares can be very volatile and behave differently than holding physical gold
- Currency swings can affect returns for a UK investor
More in Gold
What are the pros and cons of VanEck Gold Miners UCITS ETF (Acc)?
How many points the write-up makes each way — a balance check, not a score or verdict.
- Simple one-fund exposure to global gold and silver miners
- Spreads your money across a basket of multiple mining companies rather than just one
- Automatically reinvests dividends to grow the fund from within
- It falls in value when the mining market falls
- Heavy concentration in a few giant mining companies
- Mining shares can be very volatile and behave differently than holding physical gold
- Currency swings can affect returns for a UK investor
Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →
This plain-English summary was auto-generated on 2026-08-01 from public data and checked for an education-only, no-advice tone (the figures above carry their own, usually fresher, 'as of' date). It's information, never a recommendation.