Global X expands its European ETFs catalog with the launch of its first commodity linked UCITS ETF in Europe, bringing its total line up to 13 UCITS ETFs. The Global X Copper Miners UCITS ETF (COPX) tracks the Solactive Global Copper Miners v2 Index and invests in a broad range of copper mining companies.
Evidently, COPX has a high exposure to the materials sector (90%) while Financials (5.1%) and Industrials (4.2%) come in second and third respectively. In terms of country exposure, Canada (29.9%) has the lion's share, followed by Australia (12.5%), United States (10.3%), Japan (8.1%), China (7.6%) and Britain (6.0%).
The fund's top holdings include OZ Minerals Ltd. (5.41%), Sumitomo Metal Mining (5.31%), Freeport-McMoran (5.31%), Zijin Mining (5.21%), BHP Group (5.05%), Antofagasta PLC (5.02%) and Glencore PLC (4.95%). COPX has an expense ratio of 0.65% and trades on the London Stock Exchange and on the German Deutsche Börse Xetra.
Often seen as a leading barometer for global economic health, Copper's nickname is "Dr. Copper". It is widely used in construction, industrial machinery, transportation, electrical generation and electronics. With the shift to clean energy and electric vehicles, demand for copper is expected to be strong. Investors could reap the benefits by investing in COPX and other Copper ETFs.
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