How do I invest in gold miners?

Investing in gold mining stocks is highly volatile and therefore risky. The performance of gold mines depends heavily on the gold price and is often reflected disproportionately. However, the gold price is not the only factor, as gold mining shares are subject to the risks of the general stock market. Gold mines are companies where many other factors, such as production costs or management, determine their track record.

There are several indices available to invest with ETFs in gold mining companies. Besides the size of the companies especially the share of revenues from gold mining is different from index to index. This Investment Guide will help you navigate between the peculiarities of gold mining indices that vary substantially in their methodologies and ETFs that track them. It will allow you to find the most suitable ETFs for you by ranking them according to your preferences.

Le meilleur gold mining ETF selon le rendement sur un an au 30/11/25

Classement de tous les $rankingLink en fonction de leur rendement

Le plus grand gold mining ETF en fonction du volume du fonds en EUR

Classement de tous les $rankingLink en fonction du volume du fonds

L’gold mining ETF le plus avantageux en fonction des frais totaux sur encours

Classement de tous les $rankingLink en fonction des frais totaux sur encours

Methodologies of the most important gold mining indices

Source: justETF Research; As of 10/12/2025

Performance of gold mining indices in comparison

STOXX Global Gold Miners Index

The STOXX Global Gold Miners Index represents companies of the gold mining industry that generate at least 50 percent of their revenues with gold mining. The selection of the index constituents is based on market capitalisation, on annual gold production and average daily liquidity of the last three months.

Methodology of the STOXX Global Gold Miners Factsheet Methodology

• Companies, which generate at least 50% of their revenue with gold mining
• Selection based on market capitalisation
• Market capitalisation at least 400 million USD
• Average daily trading volume (over the last 3 months) must be larger than 1 million USD
• Companies weighted by annual gold production and liquidity
• Each single stock's weighting is capped at 15%

MVIS Global Junior Gold Miners Index

The MVIS Global Junior Gold Miners Index tracks the performance of the most liquid junior companies in the global gold and silver mining industry. The pure-play index contains only companies that invest primarily in gold or silver, or generate at least 50% of their revenues from gold or silver mining or own properties that have the potential to generate at least 50% of their revenues from gold or silver mining when developed.

Methodology of the MVIS Global Junior Gold Miners Factsheet Methodology

• Companies, which generate at least 50% of their revenue from gold or silver mining
• Full market capitalisation of at least 150 million USD
• Three months average daily trading volume of at least 1 million USD
• At least 250,000 shares traded per month over the last six months
• Weighted by modified market capitalisation
• Maximum weight of a single stock is capped at 7%

NYSE Arca Gold BUGS Index

The NYSE Arca Gold BUGS (Basket of Unhedged Gold Stocks) Index tracks unhedged gold mining companies. The constituents listed within this index are common stocks of selected companies involved in the mining for gold ore, not hedged beyond 1.5 years of production, and listed on the NYSE, NASDAQ, NYSE MKT, or another major U.S. exchange.

Methodology of the NYSE Arca Gold BUGS

• Companies, that don’t hedge their production beyond 1.5 years
• Companies have to gain most of their revenue through gold mining
• Market capitalisation must be greater than 75 million USD
• Monthly volume must be greater than 500,000 shares for each of the last six months
• Current last traded price must be greater than 3.00 USD
• Equal-weighting, except for the two largest constituents with a weighting of 15% and the third largest with a weighting of 10% (ranked by market capitalisation)

MarketVector Global Gold Miners Index

The MarketVector Global Gold Miners Index tracks companies in the global gold and silver mining industry

Methodology of the MarketVector Global Gold Miners Factsheet Methodology

• Companies that generate at least 50% of their revenue from gold or silver mines
• Selection based on market capitalisation
• Market capitalisation of at least 150 million USD
• Average daily trading volume (last 3 months) of at least 1 million USD and trading volume of at least 250,000 shares per month (last 6 months)
• Weighting of companies by market capitalisation
• Maximum weighting of a single company: 20%

S&P Commodity Producers Gold Index

The S&P Commodity Producers Gold Index tracks the largest publicly-traded companies involved in the exploration and production of gold and related products around the world.

Methodology of the S&P Commodity Producers Gold Factsheet Methodology

• Market capitalisation must be greater than 500 million USD
• Existing index constituents must maintain a minimum float adjusted market capitalisation of 250 million USD
• Stocks must have a three month average daily value traded above 1 million USD
• Stocks must be trading on a developed market exchange as defined by S&P Dow Jones indices
• Constituents are weighted by float adjusted market capitalisation
• Maximum weight per company 10%

Solactive Global Pure Gold Miners Index

The Solactive Global Pure Gold Miners Index tracks the price movements in shares of companies which are active in the gold mining industry. At least 90% of the companies' revenues need to be generated by gold mining activities. A maximum of 30 components are included and weighted by free float market capitalisation.

Methodology of the Solactive Global Pure Gold Miners Factsheet Methodology

• Companies, that gain at least 90% of their revenue by gold mines
• Average monthly trading volume of at least 75,000 shares in each of the last six months
• Average daily trading volume in the last three months of at least 2,000,000 USD
• Free float market capitalisation of at least 1 billion USD
• Each single stock's weighting is capped at 4.75%
• Constituents are weighted by free float market capitalisation
• The index may contain constituents, that don’t meet the liquidity criterion, but the accumulated weight of these constituents is capped at 10%

VettaFi Gold Miners Screened Index

The VettaFi Gold Miners Screened Index tracks companies worldwide that are active in the gold and silver mining industry. The index also includes an allocation to physical gold via The Royal Mint Responsibly Sourced Physical Gold ETC. Companies are excluded if they are involved in controversial or lethal weapons or thermal coal. Companies that generate more than 5% of their revenue from fossil fuels are also excluded.

Methodology of the VettaFi Gold Miners Screened Factsheet Methodology

• The index contains the largest listed companies involved in gold exploration and mining, as determined by ESG screening.
• Special feature: includes a position in physical gold via The Royal Mint Responsibly Sourced Physical Gold ETC
• Average daily trading volume (last 3 months) min. 3 million USD and weighting of companies by market capitalisation
• Maximum weight per company 10%

Pour la sélection d’un gold mining ETFs, outre la méthodologie de l’indice et les performances, d’autres facteurs jouent un rôle important lors de la décision. Pour faciliter la comparaison, vous trouverez une liste des gold mining avec les indications relatives à la taille, aux frais, à l’utilisation des revenus, au domicile du fonds et à la méthode de réplication classée en fonction de la taille des fonds.

Comparaison détaillée de tous les $rankingLink
Comparaison graphique de tous les $rankingLink

Source : justETF.com ; situation au : 25/12/25

Comparaison des performances des gold mining ETFs

Le tableau suivant compare les performances de tous les gold mining ETFs. Toutes les indications relatives aux performances sont données à la fin du mois et comprennent les distributions. Outre les performances à une date de référence, l’évolution dans le temps est décisive pour la comparaison des ETFs. Pour cela, servez-vous aussi de nos comparaisons graphiques.

• Par périodes
• Par années

Source : justETF.com ; situation au : 30/11/25 ; indications en EUR, distributions comprises