Specifically, Bridges points to improvements in Peru and Africa, as “investors get more comfortable with mining in less developed countries,” but warned against deteriorated conditions in Argentina.
Looking at the underlying holdings, GDX allocates ABX at 14.5% of its portfolio, GG is 13.0% and NEM is 7.0% – the ETF covers more large- and mid-cap stocks, which make up 47.3% and 46.9% of the portfolio, respectively. GDXJ focuses on the small- and micro-crap segments of the sector, which make up 68.4% and 25.5% of the fund’s portfolio, respectively.
Market Vectors Gold Miners ETF
For more information on the mining sector, visit our gold miners category.
Max Chen contributed to this article.