---
title: "Gold mining ETFs trail bullion despite strong miner earnings"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286954910.md"
description: "Most gold mining ETFs are underperforming compared to gold's year-to-date gains, with some even posting losses. This follows a capital rotation out of miners in early 2026 after gold lagged behind the S&P 500. Despite the ETF slump, top miners reported record earnings and margins, showcasing strong sector fundamentals."
datetime: "2026-05-19T18:49:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286954910.md)
  - [en](https://longbridge.com/en/news/286954910.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286954910.md)
---

# Gold mining ETFs trail bullion despite strong miner earnings

ETF performance gap: Most gold mining ETFs are trailing gold’s year-to-date gains, with some posting losses despite bullion’s strength. Capital rotation hits miners: Early 2026 saw investor rotation out of miners after gold lagged the S&P 500, reversing part of 2025’s gains. Profits defy ETF slump: Top miners posted record earnings and margins, indicating strong sector fundamentals despite weak ETF prices.

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