The VanEck Gold Miners ETF (ASX: GDX) has significantly outperformed Australia’s benchmark index in 2022 so far.
It has gained an impressive 20.5% since the start of this year, compared to the S&P/ASX 200 Index‘s (ASX: XJO) 7.3% tumble.
It has also outperformed the S&P/ASX All Ords Gold Index (ASX: XGD) by around 9%.
Right now, a slice of the VanEck Gold Miners ETF will set an investor back $52.40.
So, what stocks has the exchange traded fund (ETF) snapped up to outperform the broader market and the gold sector in 2022? Let’s take a look.
Here’s what makes up VanEck Gold Miners ETF’s portfolio
As the name suggests, the VanEck Gold Miners ETF is made up of stocks involved in the gold mining industry.
Its biggest holding is Newmont Corporation (NYSE: NEM) shares. Stock in the US$61.7 billion gold miner make up 17% of the ETF’s portfolio, as of 4 March.
Its second largest investment is Barrick Gold Corp (NYSE: GOLD), making up 12%.
Franco Nevada Corp (NYSE: FNV), Agnico Eagle Mines Ltd (NYSE: AEM), and Wheaton Precious Metals Corp (NYSE: WPM) each make up between 6% and 9% of the ETF’s holdings.
One Aussie gold miner has managed to squeeze into a crowning position in the VanEck Gold Miners ETF. Newcrest Mining Ltd (ASX: NCM) shares represent 4.6% of its portfolio.
Less than 1% of its holdings are dedicated to ASX gold miners Perseus Mining Limited (ASX: PRU), Silver Lake Resources Limited. (ASX: SLR), Regis Resources Limited (ASX: RRL), Gold Road Resources Ltd (ASX: GOR), Capricorn Metals Ltd (ASX: CMM), Ramelius Resources Limited (ASX: RMS), and West African Resources Ltd (ASX: WAF).