Strong performance from precious metal ETFs in March

By Khurram Ahmed Shahzad | 13 April 2017

The world's largest gold-mining exchange-traded fund, VanEck Vectors (GDX), held US$11.54 billion of assets at an expense ratio of 0.52% as of end-March. The fund's year-to-date return was 11% as of April 3. VanEck's counterpart fund for junior miners, GDXJ, ended March, with assets of US$5.23 billion at an expense ratio of 0.56%. GDXJ outperformed VanEck's year-to-date return at 16%, and the junior fund's one-year return of 36% significantly outpaced VanEck's 16%.

IShares MSCI Global Gold Miners (RING) had the lowest expense ratio compared with its peers, but in terms of assets under management, the fund fell short of Sprott Gold Miners (SGDM), which held US$195.3 million in assets at the end of March and returned 9% year-to-date. Meanwhile, iShares held US$146.4 million in assets at end-March.

Global X Gold Explorers (GOEX) and PowerShares Global Gold & Precious Metals (PSAU) have the highest expense ratios among equity ETFs at 0.66% and 0.75%, respectively. These funds returned 17% and 12% year-to-date as of April 3, while holding US$45.4 million and US$37 million, respectively, in assets under management. Overall, the top seven equity ETFs reported a median one-year return of 16% and year-to-date return of 11%.

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SPDR Gold Trust (GLD), the largest fund of its kind to invest in physical gold, ended March with more assets under management than any other gold equity or commodity ETF. SPDR's end-March asset total of US$33.41 billion was easily the highest, but the fund also suffered a net outflow of US$340.6 million during the month.

SPDR's competitor, iShares Gold Trust (IAU), saw a net outflow of US$93.3 million in March, but the fund held US$8.02 billion in assets, good for second-highest ranking among commodity ETFs. Other noticeable year-to-date performances were from iShares Silver Trust (SLV) and Swiss Gold Shares (SGOL) at 14% and 9%, respectively, with assets under management of US$5.98 billion and US$1.02 billion.

The year-to-date median return for the 11 commodity-focused ETFs was 9%. Physical Palladium Shares (PALL), Physical Silver Shares (SIVR) and iShares Silver Trust (SLV) were the three top performers with 18%, 14% and 14% year-to-date returns, respectively.

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Strong performance from precious metal ETFs in March

Gain vital insights into the performance of precious metal ETFs.

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