Global X Isses 4 New ETFs Tracking: Copper, Gold, Platinum and Silver
About: Global X, China ETFs, Global X Copper Miners ETF, Global X Gold Miners ETF, Global X Platinum Miners ETF, Global X Silver Miners ETF, Market Vector Gold Miners ETF (NYSE: GDX), Market Vectors Junior Gold Miners ETF (NYSE: GDXJ), exchange traded funds (ETFs), ETF Profit Report
Global X, the ETF issuer that pioneered sector-specific China ETFs, is planning four new metals ETFs that track copper, gold, platinum and silver. The new ETFs will be the Global X Copper Miners ETF, the Global X Gold Miners ETF, the Global X Platinum Miners ETF and the Global X Silver Miners ETF. The Global X offerings will hold mining stocks, making the new ETFs a bit more conservative than metals ETFs that track or hold the underlying commodity.
Metals ETFs that focus on mining stocks have proven popular with investors. The Market Vector Gold Miners ETF (NYSE: GDX), which follows large-cap gold mining firms, has attracted over $5 billion in assets since its debut in May 2006, and its small-cap cousin, the Market Vectors Junior Gold Miners ETF (NYSE: GDXJ), has gained over $650 million in assets since coming public in November 2009.
Global X's new ETFs will be listed on the New York Stock Exchange. The Global X announcement comes on the heels of a similar announcement by FirstTrust. During the last week of January, FirstTrust said it is preparing to launch stock-based copper and platinum ETFs.
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