5 min readBy Ron Koren ETF Insider
GOEX VS GDX
Compare the GOEX and GDX ETFs with our thorough analysis. Dive into the performance metrics, underlying assets, and investment strategies.
The Global X Gold Explorers ETF (GOEX) is managed by Global X Management Company LLC, serving as the issuer of this fund. GOEX is designed to provide investors with exposure to companies engaged in the gold exploration industry. Global X Management Company LLC employs a passive or indexing approach to track the Solactive Global Gold Explorers & Developers Total Return Index, which includes companies involved in gold exploration projects worldwide. As of December 31, 2022, the index consisted of 50 constituents, with the majority being foreign companies. This ETF aims to mirror the performance of the index, making it a convenient choice for investors seeking diversified exposure to the gold exploration sector.
While the primary focus of the Global X Gold Explorers ETF (GOEX) is on tracking the Solactive Global Gold Explorers & Developers Total Return Index, it's important to note its dividend distribution characteristics. GOEX generally reflects the dividend policies of the companies within the underlying index, which are economically tied to the gold exploration industry. These distributions are subject to the individual dividend policies and performance of the constituent companies. As of its last disclosure, GOEX may not prioritize dividends, but investors interested in gold exploration may benefit from potential dividend returns along with exposure to this sector.
Tracking the Solactive Global Gold Explorers & Developers Total Return Index is the primary objective of the GOEX ETF. This ETF invests at least 80% of its total assets in securities of companies economically tied to the gold exploration industry, including those engaged in the exploration of gold mining projects. GOEX aims to closely mirror the performance of the underlying index, which consists of global companies involved in gold exploration. With its passive indexing approach, GOEX offers investors a way to gain exposure to the gold exploration industry with a high correlation to the index's performance.
The correlation aspect of the Global X Gold Explorers ETF (GOEX) is essential for understanding its behavior in relation to the global gold exploration industry. As GOEX primarily invests in companies economically tied to gold exploration, its correlation with the performance of gold exploration stocks is expected to be high. This strong correlation makes GOEX a valuable tool for investors looking to gain exposure to the gold exploration sector. For in-depth analysis of GOEX's correlation with other assets and sectors, investors can leverage the ETF Insider web app, which offers comprehensive data visualization tools to uncover valuable insights and identify potential overlap with other investment opportunities.
The Global X Gold Explorers ETF (GOEX) primarily focuses on the metals and mining sector, specifically companies involved in gold exploration. GOEX invests at least 80% of its total assets in securities related to the gold exploration industry, including those engaged in the exploration of gold mining projects. The fund tracks the Solactive Global Gold Explorers & Developers Total Return Index, which comprises global companies in gold exploration. As of its last update in 2022, the index was highly concentrated in the metals and mining industry and had significant exposure to the materials sector, reflecting GOEX's sector concentration. Investors in GOEX can expect their investment to closely align with the performance of companies in the gold exploration industry, potentially offering opportunities in the precious metals market. However, it's important to note that this focus on a single sector may introduce higher risk and volatility into the fund's performance.
The exposure characteristic of the Global X Gold Explorers ETF (GOEX) centers on the gold exploration industry, with a specific focus on companies involved in gold mining projects. GOEX invests at least 80% of its total assets in securities tied to the Solactive Global Gold Explorers & Developers Total Return Index. This index comprises global companies engaged in gold exploration and is weighted by market capitalization. As of December 31, 2022, the Underlying Index had 50 constituents, with 45 of them being foreign companies. GOEX''s concentration in the metals and mining industry and its significant exposure to the materials sector make it an attractive choice for investors looking to gain exposure to the gold exploration market.
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