Hi Rob,

Below is a comparison of GDX (ETF) and VGPMX (mutual fund)
updated through 01.17.17
I had to double (x2) VGPMX to get a true look -
so IF you used VGPMX you would need to own 2 shares for every 1 of GDX.

This one gives you a good look at how they did month over month
for the past 10 years - and a 5 year old would say both are trending lower.

A test of that 12.00 area would be nice to see -

- r

.