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.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.