Explore the Gold Bug with this Triple-Digit Percentage Mining Fund
If you remember my
ETF Talk from last week, I showcased a silver mining fund that was up 140 as part of a new theme that focuses on mining company exchange-traded funds (ETFs). Those mining funds have seen enormous share-price appreciation in recent months due to the boom in precious metals and related sectors.
While such impressive gains are hard to replicate, Im pleased to announce that I have found a gold mining ETF that also has seen triple-digit percentage gains so far this year. That exchange-traded fund is the
Global X Gold Explorers ETF (GLDX).
GLDX started in 2010 and is part of the Global X Funds company, a New York-based provider of exchange-traded funds that offers investment opportunities in both U.S. and foreign exchanges. Specifically, GLDX provides investors with access to a broad range of companies that are involved in the exploration of suitable gold deposits through the Solactive Global Gold Explorers Total Return Index.
Year to date, GLDXs performance has been nothing but impressive. Its share price has more than doubled since the beginning of the year, equating to about a 110 increase since the markets first opened in 2016. It is the second-best performing mining fund year to date, beating all but the
Purefunds ISE Junior Silver ETF (SILJ).
Unlike many other funds and stocks, GLDXs chart shows no sign of a potential bust cycle,which first can be seen as a sideways trend over time in the line tracking a funds share price. With 64 million in assets under management, GLDX is neither tiny nor huge, and has approximately double the assets of SILJ. The fund offers a 5.3 yield with an expense ratio of 0.65