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Commodities & Metals

New Gold Miners ETF Eliminates ‘Other Metals’ (GGGG, GFI, KGC, AU, EGO, HMY)

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By Jon C. Ogg Updated Published
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There is a new gold ETF on the market.  Yesterday marked the launch of the Global X Pure Gold Miners ETF (NYSE: GGGG).  Global X noted that its new ETF focuses globally on companies which are deemed to be pure-plays on gold mining with a vast majority of revenues coming from gold mining alone rather than gold mining plus other metals mining. The aim here is to stand out from the NYSE Arca Gold Mining Index, which Global X says actually includes several silver miners.  In this new ETF some 95% of the revenues from the companies in the Solactive Index come from gold mining.

The Global X Pure Gold Miners ETF is a global fund and is not limited to US markets nor just to North America.  As of March 15, 2011, the Fund includes companies based in Canada, the United States, the United Kingdom, Hong Kong, Australia and Turkey.  As of March 10, 2011, the three largest components of the index were Gold Fields Ltd. (NYSE: GFI), Polyus Gold, and Kinross Gold Corporation (NYSE: KGC).  Other key holdings are AngloGold Ashanti Ltd. (NYSE: AU), Eldorado Gold Corp. (NYSE: EGO), Harmony Gold Mining Co. Ltd. (NYSE: HMY) and others.  A full list of the global holdings inside this ETF is here.

Management Fee is listed as 0.59% and the custody fee is 0.00%, for an annual fund operating expense of 0.59%.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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