ETF News & Commentary
SAN DIEGO (ETFguide.com) - Van Eck Global has launched the Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ).
GDXJ is linked to the Market Vectors Junior Gold Miners Index, which covers smaller companies involved in the metal and mining business.
The fund’s underlying index contains 38 holdings and it’s rebalanced quarterly. The weighted average market cap of gold stocks inside GDXJ is $850 million. Also, the index uses a modified market cap weighted strategy.
Among the fund’s top holdings are Silver Standard Resources, New Gold Inc. and Alamos Gold.
According to the prospectus, GDXJ charges 0.60% annually.
In 2006, Van Eck introduced the Market Vectors Gold Miners ETF (NYSEArca: GDX). GDX owns 31 gold stocks with an average market size of $14.9 billion. GDX has amassed around $5 billion in assets.
So far this year, gold mining stocks have outperformed gold ETFs that hold physical bullion (NYSEArca: GLD).
As of October 31st, 2009 Van Eck manages $10.36 billion in 24 ETFs.
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