SLX has nearly $156 million in assets under management and holds 27 stocks. Investors should note the ETF’s holdings expand beyond the U.S. US-based companies represent 39.5% of the ETF’s weight while Brazil and the Netherlands combine for over 30%.

Related: President Trump Looks to Again Help Steel ETF

Donald Trump in the White House is widely seen as a catalyst for the steel industry. During the campaign, Trump proposed significant infrastructure spending as an avenue for boosting the U.S. economy. If those plans see the light of day, SLX and steel stocks could benefit. However, it is widely believed the Trump infrastructure plan will be pushed back to 2018, news that has disappointed investors to start 2017.

“Strong steel demand growth in developing countries will offset stabilizing demand in developed economies, but it means mostly flat overall global demand for likely the next two decades or more,” according to the World Steel Association. “Combine those factors with declining trends in steel use — due in part to increased production of high-strength, lightweight steels and a sharper focus on reuse and recycling — and the outcome is clear.”

For more information on the steel industry, visit our steel category.