ETF Spotlight: Global X Copper Miners (COPX)

All News:

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ETF Spotlight on Global X Copper Miners (NYSEArca: COPX), part of  a weekly series.

Assets: $30.5 million

Objective: Tracks the Solactive Global Copper Miners Index

Holdings: Top holdings include Equinox Minerals (6.1%), Freeport-McMoran Copper (5.9%), Ivanhoe Mines (5.9%) and Oz Minerals (5.7%).

What You Should Know

• The top countries in COPX are Canada (42.7%), Britain (13.7%), Australia (13.4%) and the United States (10.5%)
• Companies selected for inclusion in the fund are those involved in some way in the copper industry, including mining, refining and exploration
• The expense ratio is 0.65%

The Latest News

• Copper prices have surged to the highest level since July 2008, partially driven by concerns that demand will soon surpass supply. [Market Weighs Impact of Physical Metal ETFs.]
• The U.S. dollar’s weakness is also a factor; metals priced in dollars become more appealing to overseas investors when the greenback’s value is low. [What Copper ETFs Say About the Economy.]
• It’s been a good year for miners of just about any metal. Higher prices for copper have pushed some of the industry’s major players to report forecast-beating earnings in the third quarter.
• Global copper output capacity is forecast to expand by less than 2.5 million metric tons between 2010 and 2013, thanks to financing difficulties, reports Bloomberg.