At a glance
GOEX charges 0.65% a year, above the 0.64% average of the 3 funds most like it (the 3rd cheapest of 4). It has $104.4M in assets, the 4th largest of that group; it paid 2.34% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +19.9% with distributions reinvested (S&P 500: +11.5%), 2nd of those 4 funds; over three years it returned +51.2% a year. At its worst it fell 47.6% in the 2020 crash (S&P 500: 33.7%) and 47.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 25 months after the lows. Its ten largest positions make up 37.7% of the fund, out of 57 in all.
The short version
Global X Gold Explorers ETF (GOEX) is an index fund that tracks the Solactive Global Gold Explorers & Developers Total Return Index. The index holds mostly smaller gold exploration and mining companies, largely in Canada and Australia. It charges 0.65% a year, more than the 0.52% charged by the VanEck Junior Gold Miners ETF (GDXJ). It is also extremely volatile: it once fell 88.8%, and it took more than 10 years to recover from its 2015 low.
Price history
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GOEX +19.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GOEX official prospectus, to Dec 31, 2025 | — | +181.92% | — | +20.23% | +22.96% | — |
| GOEX price data to Oct 27, 2026 | -6.4% | +19.9% | +51.2% | +21.1% | +13.4% | +0.5% |
- Over the year to Oct 27, 2026, GOEX returned +19.9%, 2nd of 4 among similar funds.
- Its 5-year annualized return was +21.1% and its 10-year +13.4%.
- In the 2020 COVID crash it fell 47.6% and regained its old high 1.8 months after the low.
- Its worst full calendar year was 2013 (-62.4%); its best was 2025 (+179.4%).
- The deepest fall in its price history was 88.8% (Apr 8, 2011 to Jul 23, 2015), recovered by Dec 19, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -6.4% | — |
| 2025 | +179.4% | +181.92% |
| 2024 | +19.4% | +18.36% |
| 2023 | +2.0% | +2.67% |
| 2022 | -14.6% | -14.47% |
| 2021 | -14.5% | -14.25% |
| 2020 | +34.9% | +34.11% |
| 2019 | +36.7% | +36.41% |
| 2018 | -14.8% | -14.10% |
| 2017 | +12.6% | +11.25% |
| 2016 | +77.9% | +79.98% |
| 2015 | -10.7% | — |
| 2014 | -6.7% | — |
| 2013 | -62.4% | — |
| 2012 | -28.4% | — |
| 2011 | -42.0% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34.8% over that stretch · deepest drop along the way 47.6%, back to its old high 1.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.6% over that stretch · deepest drop along the way 47.2%, back to its old high 24.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0900 | |
| 2025 | $1.6700 | +128.8% |
| 2024 | $0.7300 | +7200.0% |
| 2023 | $0.0100 | -96.2% |
| 2022 | $0.2600 | -62.3% |
| 2021 | $0.6900 | -25.8% |
| 2020 | $0.9300 | +121.4% |
| 2019 | $0.4200 | -94.8% |
| 2016 | $8.0500 | +319.3% |
| 2015 | $1.9200 | +9500.0% |
| 2014 | $0.0200 | -99.3% |
| 2012 | $2.8800 | +44.0% |
| 2011 | $2.0000 |
What's inside
As of Jul 31, 2026, the fund held 57 securities; the ten largest made up 37.72% of assets.
| Holding | Weight | |
|---|---|---|
| HECLA MINING COMPANY | 4.94% | |
| DPM Metals Inc. | 4.83% | |
| COEUR MINING, INC. | 4.09% | |
| Eldorado Gold Corporation | 3.82% | |
| Lundin Gold Inc. | 3.56% | |
| OceanaGold Corporation | 3.55% | |
| G Mining Ventures Corp | 3.33% | |
| SSR MINING INC. | 3.29% | |
| Equinox Gold Corp. | 3.24% | |
| ALAMOS GOLD INC. | 3.07% | |
| PERSEUS MINING LIMITED | 2.93% | |
| DISCOVERY MINING LTD. | 2.57% | |
| RAMELIUS RESOURCES LIMITED | 2.56% | |
| GENESIS MINERALS LIMITED | 2.52% | |
| K92 Mining Inc | 2.45% |
By country
Canada 55.54%Australia 20.89%United States 14.98%United Kingdom 4.75%Indonesia 3.98%By asset type
Stocks 100.05%RA 1.65%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $4.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.87%, -15.28%, +0.27%.
How it works
GOEX follows the Solactive Global Gold Explorers & Developers Total Return Index. Solactive AG is an index provider with no ties to the fund or to its adviser, Global X Management Company LLC. Solactive decides which companies count as gold explorers and developers. It then weights each company by its float-adjusted market value, meaning only shares available to trade are counted, and it screens out stocks that trade too thinly. As of December 31, 2025, the index had 49 companies, 44 of them outside the US.
The fund puts at least 80% of its assets into the index's stocks, or into ADRs and GDRs, which are certificates that trade on exchanges and represent foreign shares. It generally buys every stock in the index in about the same proportions. It may hold a sample instead when buying everything would be costly or impractical. It does not try to beat the index, and it does not move to cash when markets fall. The fund is concentrated in metals and mining.
Holders should understand that the fund owns mining shares, not gold. Those shares can do better or worse than the gold price. Most holdings trade in foreign currencies, so a stronger dollar can reduce returns. The fund may lend up to one-third of its assets to earn extra income. As of July 31, 2026, it held 57 stocks, and the 10 largest made up 37.7% of the fund.
What it really costs
- GOEX charges 0.65% a year, versus an average of 0.64% for the similar funds below (3rd of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GOEX | $66 | $208 | $362 | $810 |
In a retirement portfolio
GOEX holds a narrow, highly volatile group of gold exploration and mining stocks, so it suits only a small slice of a portfolio.
GOEX could add exposure to gold miners, but with heavy swings. The fund launched in 2010, so it has no 2008 record. In the 2020 COVID crash, it fell 47.6% in about three weeks and recovered by May 2020. In the 2022 bear market, it dropped 47.2% and did not recover until October 2024. Its worst calendar year was 2013, when it lost 62.4%. Its deepest fall was 88.8%, from 2011 to 2015, and that loss was not fully recovered until December 2025. Anyone forced to sell during a stretch like that would lock in large losses.
Income is modest. The trailing yield was 2.34% as of October 27, 2026, paid twice a year. In the SEC's standard example, fees on $10,000 come to $66 after one year and $810 after 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small, deliberate slice of gold explorers and developers, with 55.5% in Canada and 20.9% in Australia as of July 31, 2026.
- Long-term holders who can sit through drops like the 47% falls in 2020 and 2022 without needing to sell.
- Investors who prefer a rules-based index fund to an active fund such as Sprott's GBUG, which charges 0.89%.
Look elsewhere if
- Investors who want the gold price itself. GOEX owns mining stocks, which can lag or outrun gold.
- Cost-focused investors. GDXJ charges 0.52% and GDX 0.51%, compared with 0.65% for GOEX, and both are far larger funds.
- Retirees who may need to sell in a downturn. After its 2015 low, the fund took more than 10 years to recover.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Is GOEX good for retirement?
GOEX is better seen as a small, high-risk add-on than a core retirement holding. It holds only gold exploration and mining stocks. It fell 47.6% in early 2020 and 47.2% in 2022, and it lost 62.4% in 2013. After its 88.8% drop from 2011 to 2015, it did not fully recover until December 2025. Someone who may need to sell shares during a bad stretch could face deep losses.
What's the difference between GOEX and GDXJ?
Both funds hold smaller gold miners, and about 51% of their holdings overlap. GDXJ is cheaper, at 0.52% a year against 0.65% for GOEX. It is also much larger: about $7.1 billion as of June 30, 2026, against $104.4 million for GOEX as of July 31, 2026. As of October 27, 2026, GOEX returned 19.9% over one year and 51.2% a year over three years. GDXJ returned 15.8% and 46.9% over the same periods.
Does GOEX pay dividends?
Yes. GOEX pays dividends twice a year. As of October 27, 2026, it paid $1.76 per share over the previous 12 months, a trailing yield of 2.34%. The payouts come from the dividends its mining companies pay, so they can rise or fall from year to year. Income is a small part of what this fund offers. Most of its return, and most of its risk, comes from swings in mining stock prices.
Does GOEX own physical gold?
No. GOEX owns shares of gold mining and exploration companies, not gold bars. As of July 31, 2026, its largest holdings were Hecla Mining at 4.9%, DPM Metals at 4.8%, Coeur Mining at 4.1%, Eldorado Gold at 3.8% and Lundin Gold at 3.6%. The prospectus warns that these stocks can do better or worse than the gold price, over both short and long periods.
How has GOEX performed over the long term?
Returns have been strong over long periods, but very uneven. As of December 31, 2025, the prospectus shows a 2025 return of 181.92%. Average yearly returns were 20.23% over five years and 22.96% over 10 years. The fund lost money in 2018, 2021 and 2022. Its worst quarter was a 31.35% drop in the second quarter of 2022. Through October 27, 2026, its price return for 2026 was -6.4%.