As of July 24, 2012, the underlying index held 31 stocks and 28 were foreign holdings. Top holdings include Mineral Resources LTD, China Coal Energy Company H Shares and Joy Global, each with a 7.0% weighting.
The PureFunds ISE Junior Silver (Small Cap Miners/Explorers) ETF (NYSEArca: SILJ) will try to reflect the performance of small-cap companies in the silver industry, including those engaged in mining, exploring or refining silver. SILJ has a 0.69% expense ratio.
As of July 24, 2012, there were 28 constituents in the underlying index, 23 of which were foreign companies. The top holdings include Endeavour Silver Corp., Fortuna Silver MInes Inc. and McEwen Mining Inc., each with a 13.6% weighting.
The new silver ETF would be the first to target small-cap silver miners. Investors can currently gain broad exposure through the Global X Silver Miners ETF (NYSEArca: SIL) and the iSharse MSCI Global Silver Miners Fund (NYSEArca: SLVP). [Gold Miner ETFs Outperforming Bullion in August]
For more information on new product launches, visit our new ETFs category.
Max Chen contributed to this article.