The best gold mining ETFs

How do I invest in gold miners?

Investing in gold mining companies is a risky business. The performance of gold mines is highly dependent on the gold price, which is often reflected disproportionately. However, the gold price is not the only factor that drives the success of gold mining stocks. Production costs are just one further factor which influence the profit of gold miners.

There are several indices available to invest with ETFs in gold mining companies. Besides the size of the companies especially the share of revenues from gold mining is different from index to index. This Investment Guide will help you navigate between the peculiarities of gold mining indices that vary substantially in their methodologies and ETFs that track them. It will allow you to find the most suitable ETFs for you by ranking them according to your preferences.

 
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0,43% p.a. - 0,65% p.a.
ratio de gastos totales (TER) anual de gold mining ETFs
en gold mining, que son seguidos por ETF
en gold mining
 
Los mejores índices para gold mining ETFs

El mejor gold mining ETF por rentabilidad del fondo a un año a partir del 30/9/22

Todos los gold mining ETFs clasificados por la rentabilidad del fondo

 

El mayor gold mining ETF por patrimonio del fondo en euros

Todos los gold mining ETFs clasificados por patrimonio del fondo

 

El gold mining ETF más barato por gastos corrientes totales

Todos los gold mining ETFs clasificados por gastos corrientes totales

 
 

Gold mining indices compared

Methodologies of the most important gold mining indices

DAXglobal® Gold Miners MVIS Global Junior Gold Miners NYSE Arca Gold BUGS
Number of ETFs 1 ETF 1 ETF 1 ETF
Number of constituents 33 98 24
Selection criteria min. 50% of revenues with gold mining min. 50% of revenues with gold and silver mining min. 50% of revenues with gold mining
Market cap min. 500 m USD min. 150 m USD min. 75 m USD
Ø Trading volume min. 2 m USD/day (last 3 months) min. 1 m USD/day (last 3 months)
250,000 shares/month (last 6 months)
min. 500,000 shares/month (last 6 months)
Index weighting Liquidity Modified market cap Modified equal-weight
Index rebalancing semi-annually quarterly quarterly
Constituents cap 15% 8% 15%
Top 3 countries 46.7% Canada
16.3% South Africa
15.6% USA
62.5% Canada
14.6% Australia
6.4% United Kingdom
65.5% Canada
18.4% USA
5.8% South Africa
 
NYSE Arca Gold Miners S&P Commodity Producers Gold Solactive Global Pure Gold Miners
Number of ETFs 1 ETF 1 ETF 1 ETF
Number of constituents 54 62 28
Selection criteria min. 50% of revenue with gold and silver mining Gold mining companies according to GICS min. 90% of revenue with gold mining
Market cap min. 750 m USD (new)
min. 450 m USD (remain)
min. 500 m USD (new)
min. 250 m USD (remain)
min. 1 bn USD
Ø Trading volume min. 1 m USD/day (last 3 months)
50,000 shares/day (last 3 months)
min. 1 m USD/day (last 3 months) min. 2 m USD/day (last 3 months)
75,000 shares/day (last 6 months)
Index weighting Liquidity Market cap Market cap
Index rebalancing quarterly semi-annually annually
Constituents cap 20% - 4.75% / 10%
Top 3 countries 44.6% Canada
18.0% USA
13.3% Australia
53.1% Canada
15.1% Australia
12.6% USA
49.7% Canada
14.0% Australia
13.8% South Africa

Source: justETF Research; As of 15/11/2021

 

Performance of gold mining indices in comparison

Performance of gold mining indices in comparison
 

DAXglobal® Gold Miners Index

The DAXglobal® Gold Miners Index represents companies of the gold mining industry that generate at least 50 percent of their revenues with gold mining. The selection of the index constituents is based on market capitalisation and average daily value traded.

 

Methodology of the DAXglobal® Gold Miners FactsheetMethodology

  • Companies, which generate at least 50% of their revenue with gold mining
  • Selection based on market capitalisation
  • Market capitalisation at least 500 million USD
  • Average daily trading volume (over the last 3 months) must be larger than 2 million USD
  • Companies weighted by liquidity
  • Each single stock's weighting is capped at 15%
 

MVIS Global Junior Gold Miners Index

The MVIS Global Junior Gold Miners Index tracks the performance of the most liquid junior companies in the global gold and silver mining industry. The pure-play index contains only companies that invest primarily in gold or silver, or generate at least 50% of their revenues from gold or silver mining or own properties that have the potential to generate at least 50% of their revenues from gold or silver mining when developed.

 

Methodology of the MVIS Global Junior Gold Miners FactsheetMethodology

  • Companies, which generate at least 50% of their revenue from gold or silver mining
  • Full market capitalisation of at least 150 million USD
  • Three months average daily trading volume of at least 1 million USD
  • At least 250,000 shares traded per month over the last six months
  • Weighted by modified market capitalisation
  • Each single stock's weighting is capped at 8%
 

NYSE Arca Gold BUGS Index

The NYSE Arca Gold BUGS (Basket of Unhedged Gold Stocks) Index tracks unhedged gold mining companies. The constituents listed within this index are common stocks of selected companies involved in the mining for gold ore, not hedged beyond 1.5 years of production, and listed on the NYSE, NASDAQ, NYSE MKT, or another major U.S. exchange.

 

Methodology of the NYSE Arca Gold BUGS Methodology

  • Companies, that don’t hedge their production beyond 1.5 years
  • Companies have to gain most of their revenue through gold mining
  • Market capitalisation must be greater than 75 million USD
  • Monthly volume must be greater than 500,000 shares for each of the last six months
  • Current last traded price must be greater than 3.00 USD
  • Equal-weighting, except for the two largest constituents with a weighting of 15% and the third largest with a weighting of 10% (ranked by market capitalisation)
 

NYSE Arca Gold Miners Index

The NYSE Arca Gold Miners Index generally includes common stocks, ADRs, or GDRs of selected companies involved in mining for gold and silver ore and are listed for trading and electronically quoted on a major stock market that is accessible by foreign investors.

 

Methodology of the NYSE Arca Gold Miners Methodology

  • Companies that derive at least 50% of their revenues from gold or silver mining and related activities
  • Market capitalisation must be greater than 750 million USD for a stock to be eligible, and greater than 500 million USD to remain in the index
  • Average daily volume of at least 50,000 shares over the past three months
  • Average daily value traded of at least 1 million USD over the past three months
  • Each single stock's weighting is capped at 20%
  • Constituents are weighted by modified market capitalisation
 

S&P Commodity Producers Gold Index

The S&P Commodity Producers Gold Index tracks the largest publicly-traded companies involved in the exploration and production of gold and related products around the world.

 

Methodology of the S&P Commodity Producers Gold FactsheetMethodology

  • Market capitalisation must be greater than 500 million USD
  • Existing index constituents must maintain a minimum float adjusted market capitalisation of 250 million USD
  • Stocks must have a three month average daily value traded above 1 million USD
  • Stocks must be trading on a developed market exchange as defined by S&P Dow Jones indices
  • Constituents are weighted by float adjusted market capitalisation
 

Solactive Global Pure Gold Miners Index

The Solactive Global Pure Gold Miners Index tracks the price movements in shares of companies which are active in the gold mining industry. At least 90% of the companies' revenues need to be generated by gold mining activities. A maximum of 30 components are included and weighted by free float market capitalisation.

 

Methodology of the Solactive Global Pure Gold Miners FactsheetMethodology

  • Companies, that gain at least 90% of their revenue by gold mines
  • Average monthly trading volume of at least 75,000 shares in each of the last six months
  • Average daily trading volume in the last three months of at least 2,000,000 USD
  • Free float market capitalisation of at least 1 billion USD
  • Each single stock's weighting is capped at 4.75%
  • Constituents are weighted by free float market capitalisation
  • The index may contain constituents, that don’t meet the liquidity criterion, but the accumulated weight of these constituents is capped at 10%
 
 

Gold mining ETFs en comparación

Los factores más importantes de un vistazo

A la hora de elegir el a gold mining ETF hay que tener en cuenta otros factores además de la metodología del índice subyacente y el rendimiento de un ETF. Para una mejor comparación, encontrarás una lista de todos los gold mining ETFs con detalles sobre el patrimonio, el coste, la edad, los ingresos, el domicilio y el método de replicación clasificados por patrimonio del fondo.

Compara todos los gold mining ETFs en detalle
Compara todos los gold mining ETFs en un gráfico

ETF
ISIN
  Patrimonio
en m EUR
Gastos corrientes
en %
Uso del beneficio Domicilio del fondo Método de replica
iShares Gold Producers UCITS ETFIE00B6R52036 1.407 0,55% p.a. Acumulación Irlanda Replicación física perfecta
VanEck Gold Miners UCITS ETFIE00BQQP9F84 608 0,53% p.a. Acumulación Irlanda Replicación física perfecta
VanEck Junior Gold Miners UCITSIE00BQQP9G91 326 0,55% p.a. Acumulación Irlanda Replicación física perfecta
Lyxor NYSE Arca Gold BUGS (DR) UCITS ETFLU0488317701 299 0,65% p.a. Distribución Luxemburgo Replicación física perfecta
L&G Gold Mining UCITS ETFIE00B3CNHG25 113 0,65% p.a. Acumulación Irlanda Replicación física perfecta
UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) A-disIE00B7KMNP07 54 0,43% p.a. Distribución Irlanda Replicación física perfecta
HANetf AuAg ESG Gold Mining UCITS ETFIE00BNTVVR89 5 0,60% p.a. Acumulación Irlanda Replicación física perfecta

Fuente: justETF.com; A partir de 2/10/22

 

Comparación del rendimiento de todos los gold mining ETFs

La tabla muestra los rendimientos de todos los gold mining ETFs en comparación. Todas las cifras de rentabilidad incluyen los dividendos a final de mes. Además de la rentabilidad es importante la fecha de referencia en la que se realiza la comparación. Para encontrar el mejor ETF, también puedes realizar una comparación gráfica.

ETF   1 mes
en %
3 meses
en %
6 meses
en %
1 año
en %
3 años
en %
Lyxor NYSE Arca Gold BUGS (DR) UCITS ETF 4,22% -7,10% -29,85% -0,05% 7,56%
VanEck Gold Miners UCITS ETF 2,27% -6,96% -29,07% -1,52% 2,50%
HANetf AuAg ESG Gold Mining UCITS ETF 3,64% -5,09% -28,63% -4,25% -
iShares Gold Producers UCITS ETF 2,99% -5,07% -27,81% -4,48% 0,09%
UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) A-dis 3,73% -1,21% -27,07% -4,63% -8,14%
L&G Gold Mining UCITS ETF 4,35% -4,97% -32,48% -6,89% -5,88%
VanEck Junior Gold Miners UCITS 1,56% -2,87% -29,11% -7,62% -7,26%
ETF   2022
en %
2021
en %
2020
en %
2019
en %
2018
en %
Lyxor NYSE Arca Gold BUGS (DR) UCITS ETF -10,96% -8,06% 15,44% 53,07% -14,04%
VanEck Gold Miners UCITS ETF -12,76% -2,18% 12,69% 42,87% -4,72%
iShares Gold Producers UCITS ETF -15,52% -2,02% 14,07% 45,43% -4,66%
UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) A-dis -17,51% -5,62% 13,64% 43,23% -6,17%
HANetf AuAg ESG Gold Mining UCITS ETF -18,03% - - - -
VanEck Junior Gold Miners UCITS -18,77% -14,91% 18,96% 44,11% -7,61%
L&G Gold Mining UCITS ETF -19,47% -1,95% 12,79% 45,32% -7,10%

Fuente: justETF.com; A partir de 30/9/22; Cálculos en EUR, incluidos los dividendos