GOEX - ETF AI Analysis
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Global X Gold Explorers ETF (GOEX)
Rating:60Neutral
Price Target:―
Positive Factors
Strong Recent Year-to-Date Performance
The ETF has delivered solid gains so far this year, showing that its portfolio has recently benefited from favorable market conditions for gold explorers.
Several Strong-Performing Top Holdings
A number of the largest positions, such as Alamos Gold, Dundee Precious Metals, OceanaGold, G Mining Ventures, and SSR Mining, have shown strong year-to-date performance, helping support the fund’s overall returns.
Global Diversification Within Gold Explorers
Holdings spread across Canada, the U.S., Australia, the U.K., and Hong Kong provide geographic diversification within the gold exploration space, reducing reliance on any single country.
Negative Factors
High Sector Concentration in Materials
With almost all assets in the materials sector, the ETF is heavily tied to the fortunes of gold and mining companies, which can be very sensitive to commodity price swings.
Mixed Performance Among Top Holdings
Some key positions, including Hecla Mining, Lundin Gold, and Eldorado Gold, have shown weak year-to-date performance, which can drag on the fund even when other holdings are doing well.
Relatively High Expense Ratio
The fund’s expense ratio is on the higher side for an ETF, meaning a larger portion of returns is used to cover fees each year.
GOEX vs. SPDR S&P 500 ETF (SPY)
AUM104.72M
RegionGlobal
Expense Ratio0.65%
Beta1.05
IssuerGlobal X
Inception DateNov 03, 2010
Dividend Yield2.32%
Asset ClassEquity
Index TrackedSolactive Global Gold Explorers & Developers Index
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume9,362
30 Day Avg. Volume23,965
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
114.30Price Target Upside― Downside
Rating ConsensusModerate Buy
Number of Analyst Covering46
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
GOEX Summary
Global X Gold Explorers ETF (GOEX) is a fund that follows the Solactive Global Gold Explorers & Developers Index, focusing on smaller gold exploration and mining companies around the world. It mainly holds materials stocks, with big positions in names like Coeur Mining and Hecla Mining Company. Someone might invest in GOEX if they believe gold prices will rise and want a focused way to benefit from potential new gold discoveries, while still spreading money across many companies. A key risk is that these early-stage gold miners can be very volatile, so the ETF’s price can swing sharply up and down.
How much will it cost me?The Global X Gold Explorers ETF (GOEX) has an expense ratio of 0.65%, meaning you’ll pay $6.50 per year for every $1,000 invested. This is higher than average because it is actively managed to focus on a niche area of gold exploration, which requires more specialized research and management.
What would affect this ETF?GOEX could benefit from rising gold prices driven by economic uncertainty or inflation, as gold is often seen as a safe haven asset. However, it may face challenges if interest rates rise, making gold less attractive compared to income-generating assets, or if exploration companies encounter difficulties in discovering new reserves. Additionally, global economic conditions and regulatory changes in mining regions could impact the performance of its top holdings and the broader sector.
GOEX Top 10 Holdings
GOEX is a pure play on global gold explorers, with the fund’s fate closely tied to a handful of mid-cap miners. SSR Mining has been one of the bright spots, helping to prop up returns, while Dundee Precious Metals and OceanaGold have been relatively steady supporters. On the flip side, names like Equinox Gold, Hecla Mining, and Lundin Gold have been losing steam, dragging on recent performance. With most holdings clustered in the materials sector and a strong tilt toward Canadian and U.S.-listed miners, this ETF lives and dies by the mood in the gold patch.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| Hecla Mining Company | 5.23% | $5.47M | $10.05B | 154.41% | 74 Outperform | |
| Coeur Mining | 4.48% | $4.69M | $16.97B | 85.74% | 69 Neutral | |
| Dundee Precious Mtl | 4.32% | $4.52M | C$9.76B | 109.18% | 75 Outperform | |
| Alamos Gold | 3.78% | $3.96M | C$20.21B | 27.86% | 77 Outperform | |
| Eldorado Gold | 3.77% | $3.94M | C$10.93B | 42.87% | 79 Outperform | |
| OceanaGold | 3.69% | $3.86M | $5.63B | 68.74% | ― | |
| Equinox Gold | 3.68% | $3.85M | C$11.30B | 63.66% | 73 Outperform | |
| Lundin Gold | 3.43% | $3.59M | C$18.38B | 0.98% | 78 Outperform | |
| SSR Mining | 3.36% | $3.51M | C$7.64B | 114.24% | 69 Neutral | |
| Perseus Mining | 2.79% | $2.92M | AU$6.24B | 44.51% | 79 Outperform |
GOEX Technical Analysis
Negative
―
Price Trends
82.95
Negative
87.91
Negative
79.44
Negative
Market Momentum
-3.82
Positive
41.12
Neutral
25.65
Neutral
Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For GOEX, the sentiment is Negative. The current price of undefined is equal to the 20-day moving average (MA) of 76.28, equal to the 50-day MA of 82.95, and equal to the 200-day MA of 79.44, indicating a bearish trend. The MACD of -3.82 indicates Positive momentum. The RSI at 41.12 is Neutral, neither overbought nor oversold. The STOCH value of 25.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GOEX.
GOEX Peer Comparison
Comparison Results
Performance Comparison
GOEX
Global X Gold Explorers ETF
72.17
25.77
55.54%
SLVP
iShares MSCI Global Silver Miners ETF
―
―
―
SGDM
Sprott Gold Miners ETF
―
―
―
MXI
iShares Global Materials ETF
―
―
―
COPP
Sprott Copper Miners ETF
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―
―
SLX
VanEck Steel ETF
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―
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Glossary
BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
DisclaimerThis AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―
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