GDXJ
VanEck Junior Gold Miners ETF
Is GDXJ Halal?
Junior gold miners — same as GDX but smaller companies.
What You Should Know
GDXJ's December 31, 2025 report shows $9.602 billion of assets. Disclosed interest and securities-lending income is about 4.96% of investment income, just below the examined 5% benchmark. Junior mining and exploration are generally permissible core activities, but higher financing, dilution, project and contract risks remain qualitative concerns.
⚠️ Concerns
- •Higher debt ratios in junior miners
- •Speculative nature of junior miners
Current quantitative Sharia screen
Based on N-CSR figures for the period ended 2025-12-31; calculated 2026-07-14.
0 / 9,601.511
130.63 / 9,601.511
114.038 / 9,601.511
3.136 / 63.187
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 1.36%, receivables plus cash/assets is 1.19% and disclosed incidental income is about 4.96%; underlying activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables plus cash/assets are below the examined MSCI asset limits, but underlying issuer activity is not classified by a universal prohibited-revenue numerator.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined Malaysia limits; the pass-through mining portfolio remains qualitatively incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series and a fund-level prohibited-income convention are not stored.
Business-activity disclosure
GDXJ is a pass-through ETF holding junior and mid-tier gold and silver miners, developers and explorers. The core extraction and exploration activities are generally permissible, while issuer-level financing, streaming, hedging and project risks require review.
Limitation: The report provides holdings and income lines but no universal prohibited-revenue allocation across every underlying mining issuer.
Purification
GDXJ discloses incidental interest and securities-lending income, but no scholar-approved purification percentage is inferred from the aggregate fund distribution.
Inputs, assumptions and primary sources
- Amounts are USD millions from GDXJ's December 31, 2025 annual shareholder report.
- The report shows USD 9,601.511 million of total assets, USD 26.652 million of cash, USD 103.978 million of short-term collateral investments and USD 87.386 million of investment-sale and dividend receivables.
- Interest and securities-lending income totals USD 3.136 million against USD 63.187 million of total investment income, or about 4.96%, just below the examined 5% income limit.
- Junior mining, exploration and development activities are generally permissible at a core-business level, but each issuer's financing and ancillary activities require review.
- ETF look-through ratios are not an official FTSE, MSCI or Malaysia classification.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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