SLX - ETF AI Analysis
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VanEck Steel ETF (SLX)
Rating:63Neutral
Price Target:―
Positive Factors
Strong Year-To-Date Performance
The ETF has delivered strong gains so far this year, showing solid momentum in the steel and metals space.
Leading Global Steel and Mining Holdings
Several of the largest positions, including major global steel and mining companies, have shown strong performance, helping support the fund’s overall returns.
Broad Geographic Exposure
Holdings spread across the U.S., Australia, Japan, and several other countries provide international diversification within the steel industry.
Negative Factors
High Industry Concentration
With most assets in the materials sector and focused on steel and mining, the fund is heavily exposed to swings in commodity and industrial demand.
Mixed Performance Among Top Holdings
A few of the larger positions have shown weak or negative performance this year, which can drag on the ETF’s results if the trend continues.
Above-Average Expense Ratio
The fund’s expense ratio is relatively high for an ETF, meaning more of the returns are eaten up by fees over time.
SLX vs. SPDR S&P 500 ETF (SPY)
AUM169.00M
RegionGlobal
Expense Ratio0.55%
Beta1.18
IssuerVanEck
Inception DateOct 10, 2006
Dividend Yield1.25%
Asset ClassEquity
Index TrackedMarketVector Global Steel Index
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume31,335
30 Day Avg. Volume57,422
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
107.64Price Target Upside― Downside
Rating ConsensusHold
Number of Analyst Covering35
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
SLX Summary
The VanEck Steel ETF (SLX) follows the MarketVector Global Steel Index and focuses on companies involved in steel production around the world. It holds major names like BHP Group and Rio Tinto, giving investors a simple way to invest in the steel industry, which supports construction, infrastructure, and manufacturing. Someone might consider SLX if they want targeted exposure to materials and believe global demand for steel will grow, adding diversification beyond typical tech or consumer stocks. A key risk is that steel is a cyclical business, so the ETF’s value can rise and fall sharply with economic conditions and commodity prices.
How much will it cost me?The VanEck Steel ETF (SLX) has an expense ratio of 0.56%, meaning you’ll pay $5.60 per year for every $1,000 invested. This cost is slightly higher than average for ETFs because it is actively managed to focus on a specific niche—the steel production industry—rather than tracking a broad market index.
What would affect this ETF?The VanEck Steel ETF (SLX) could benefit from increased global infrastructure spending and economic growth, which drive demand for steel in construction and manufacturing. However, it may face challenges from rising interest rates, which can slow economic activity, or stricter environmental regulations impacting steel production costs. Its global exposure and reliance on major steel producers like Rio Tinto and Vale make it sensitive to commodity price fluctuations and geopolitical developments.
SLX Top 10 Holdings
SLX is essentially a global steel story, with heavy exposure to big miners like BHP and Vale alongside U.S. producers such as Nucor and Steel Dynamics. Nucor and Steel Dynamics have been rising steadily, helping pull the fund higher, while ArcelorMittal and Reliance Steel add more fuel with solid recent momentum. On the flip side, Nippon Steel and Fortescue Metals have been lagging, acting like weights on the portfolio. Overall, the ETF is tightly focused on materials and steel, with a mix of U.S., European, Brazilian, and Asian names driving performance.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| BHP Group | 7.36% | $12.40M | $215.49B | 61.73% | 73 Outperform | |
| Rio Tinto | 7.06% | $11.90M | $165.87B | 59.83% | 80 Outperform | |
| Vale SA | 7.04% | $11.87M | $62.65B | 48.02% | 79 Outperform | |
| Nucor | 6.66% | $11.23M | $58.60B | 90.74% | 74 Outperform | |
| Steel Dynamics | 5.60% | $9.45M | $36.01B | 112.90% | 76 Outperform | |
| ArcelorMittal | 5.48% | $9.24M | $52.10B | 136.36% | 71 Outperform | |
| NIPPON STEEL | 5.41% | $9.11M | ¥3.47T | -1.45% | 63 Neutral | |
| Rio Tinto Limited | 4.69% | $7.90M | AU$235.86B | 66.62% | 78 Outperform | |
| Reliance Steel | 4.62% | $7.79M | $20.73B | 43.82% | 74 Outperform | |
| Fortescue Metals Group Ltd | 4.21% | $7.10M | AU$56.96B | 2.46% | 76 Outperform |
SLX Technical Analysis
Positive
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Price Trends
104.26
Positive
101.23
Positive
93.89
Positive
Market Momentum
0.80
Negative
59.61
Neutral
89.00
Negative
Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For SLX, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 101.55, equal to the 50-day MA of 104.26, and equal to the 200-day MA of 93.89, indicating a bullish trend. The MACD of 0.80 indicates Negative momentum. The RSI at 59.61 is Neutral, neither overbought nor oversold. The STOCH value of 89.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SLX.
SLX Peer Comparison
Comparison Results
Performance Comparison
SLX
VanEck Steel ETF
108.53
42.21
63.65%
SLVP
iShares MSCI Global Silver Miners ETF
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SGDM
Sprott Gold Miners ETF
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MXI
iShares Global Materials ETF
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COPP
Sprott Copper Miners ETF
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GOAU
U.S. Global GO GOLD and Precious Metal Miners ETF
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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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