VanEck’s Gold Miners ETF celebrates 10 years

May 17th, 2016 | By | Category: Commodities

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US-based exchange traded fund provider VanEck is celebrating the 10-year anniversary of its VanEck Vectors Gold Miners ETF (GDX). Hitting its decade anniversary yesterday, the ETF was not only the firms’ first fund but also the first ETF to focus on gold mining equities.

VanEck's Gold miners GDX celebrates 10-year anniversary

VanEck’s Gold miners ETF celebrates 10-year anniversary

GDX was originally designed to provide investors with a single point of access to a portfolio of companies in the global gold mining space. The ETF, which has a total expense ratio of 0.52%, now has nearly $8 billion in assets (as of the end of April) and is one of the most widely traded ETFs (and equities) in the market. It is part of 70 funds offered globally by VanEck.

Jan van Eck, CEO of VanEck said in a statement “In a market defined by uncertainty and vulnerable to the actions of global central banks, gold and gold miners can provide diversification to a portfolio of stocks and bonds. I can’t say we anticipated these conditions when we launched GDX ten years ago, but we did recognize the historic role gold has played as a storehouse of value during challenging times.

He added: “A deep-rooted understanding of the commodities sector is in our firm’s DNA, as we have been helping investors access commodity-specific opportunities for decades. While the past few years saw a number of challenges for commodities, we believe there are strong fundamental and technical aspects driving the recent rebound in the gold market. Based on our research, we think gold will continue to move higher and gold miners – which offer a leveraged play on the metal– should benefit as well.”

VanEck has nearly 50-years’ experience in managing gold funds. The firm also offers ETFs such as the VanEck Vectors Junior Gold Miners ETF (GDXJ), which provides targeted exposure to the small-cap miner segment of the market. The VanEck Merk Gold Trust (OUNZ), which offers investors a convenient and cost-efficient way to buy and hold gold through an exchange traded product with the option to take physical delivery of gold. The firm also offers an actively managed gold fund, the VanEck International Investors Gold Fund (INIVX), which was launched in 1968 and has a live track record of more than 40 years of focusing on gold mining equities.


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