Mining ETFs Win in Turbulent April With Double-Digit Gains
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2024
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Source: Business Insider
- Wall Street Performance: Wall Street is facing its worst month in 2024 due to inflation fears and geopolitical tensions, with major indices like S&P 500, Nasdaq Composite, and Dow Jones Industrial Average experiencing significant declines.
- Metal Market Trends: Precious metals like gold and silver are rising on safe-haven demand amid uncertainty around Fed rate hikes and geopolitical issues, while industrial metals like copper and aluminum are gaining due to supply constraints and increased manufacturing activity.
- ETFs Highlighted: Five best ETFs from metal mining sectors have been highlighted, including Global X Silver Miners ETF, iShares Copper and Metals Mining ETF, USCF Aluminum Strategy Fund, Sprott Nickel Miners ETF, and iShares MSCI Global Gold Miners ETF.
- ETF Details:
- Global X Silver Miners ETF (SIL) is up 16.6% and tracks the Solactive Global Silver Miners Total Return Index.
- iShares Copper and Metals Mining ETF (ICOP) is up 13.5% and follows the STOXX Global Copper and Metals Mining Index.
- USCF Aluminum Strategy Fund (ALUM) is up 11.1% and invests in aluminum-based derivatives.
- Sprott Nickel Miners ETF (NIKL) is up 11.1% and provides exposure to the global nickel industry.
- iShares MSCI Global Gold Miners ETF (RING) is up 10.6% and offers exposure to gold mining companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
