U.S. Global GO GOLD and Precious Metal Miners ETF
ALTAR
Score™		 3.8% info Recommen-
dation		 UNDERWEIGHT
2025E    2026E
P/E
ratio		 19.8x P/Sales
ratio		 4.5x
P/BV
ratio		 2.8x Div.
yield		 1.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The U.S. Global GO GOLD and Precious Metal Miners ETF tracks an index of 28 precious metal mining firms listed in the US, Canada, Australia, Hong Kong or South Africa. Holdings are selected by fundamental factors and weighted in fixed tiers.

FUND BASICS
Category US Equities
Fund Sponsor US Global Investors
Website www.usglobaletfs.com
Inception date Jun 27, 2017
Assets (mns) $150
Currency USD
Expense ratio 60 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $10,205
Large cap (>$10bn) 33.5%
Mid cap ($2-10bn) 36.9%
Small cap (<$2bn) 29.6%
Developed mkts 97.9%
Emerging mkts 2.1%

TOP TEN HOLDINGS
OSISKO GOLD ROYALTIES LTD 11.0 %
FRANCO-NEVADA CORP 10.7 %
SILVER WHEATON CORP 9.7 %
DUNDEE PRECIOUS METALS INC 4.9 %
TRIPLE FLAG PRECIOUS METALS CORP. 4.5 %
SIBANYE GOLD- SPON ADR 4.0 %
OCEANAGOLD CORP 3.4 %
DRDGOLD LTD-SPONSORED ADR 3.4 %
HARMONY GOLD MNG-SPON ADR 3.3 %
AVINO SILVER & GOLD MINES LTD 3.3 %
Total 58.3 %

TOP COUNTRY EXPOSURE
CANADA 63.2 %
AUSTRALIA 12.4 %
SOUTH AFRICA 11.7 %
BRITAIN 7.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 29)
Year-to-date 1 year 5 years 10 years Since Incep.
76.2% 66.1% 8.0% -- 14.3%

Market Correlations
versus... Beta R-squared
S&P500 0.47 5%
MSCI EAFE 0.77 16%
MSCI Emg. Mkts. 0.99 28%

Technical Indicators
Recent close $34.43
30d moving avg. $30.94
Annualized volatility 31.3%
Short interest (ETF) 0.7%
Short interest (Underlying) 1.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 54
Turnover 1.2%
Bid/Ask (% of price) 0.52%
ADV underlying (mns) $314

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 181 potential alternatives to the U.S. Global GO GOLD and Precious Metal Miners ETF ETF based on the alternatives' overlap in portfolio holdings with GOAU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GOAU Expense: 60 bp ALTAR Score™: 3.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GOAU
Ticker Fund
Name		 Overlap1
vs GOAU
(%)		 Expense
ratio
(bp)		 Savings
vs GOAU
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GOAU
(%)
SGDM Sprott Gold Miners ETF 22.7 50 10 3.2 -0.6
SILJ ETFMG Prime Junior Silver Miners ETF 20.6 69 -9 2.4 -1.4
GOEX Global X Gold Explorers ETF 19.5 65 -5 3.0 -0.8
AUMI Themes Gold Miners ETF 19.1 35 25 4.3 +0.5
GDXJ VanEck Junior Gold Miners ETF 17.6 52 8 4.4 +0.6
INFL Horizon Kinetics Inflation Beneficiaries ETF 15.9 85 -25 3.9 +0.1
SGDJ Sprott Junior Gold Miners ETF 14.7 50 10 4.1 +0.3
GDX VanEck Gold Miners ETF 14.6 51 9 3.4 -0.4
AGMI Themes Silver Miners ETF 13.5 35 25 5.2 +1.4
SLVP iShares MSCI Global Silver Miners ETF 9.9 39 21 6.5 +2.7
RING iShares MSCI Global Gold Miners ETF 9.2 39 21 4.4 +0.6
EPU iShares MSCI Peru and Global Exposure ETF 8.5 59 1 6.5 +2.7
SIL Global X Silver Miners ETF 7.3 65 -5 3.0 -0.8
ABEQ Absolute Select Value ETF 5.1 85 -25 4.7 +0.9
EDOG ALPS Emerging Sector Dividend Dogs ETF 4.5 60 0 10.9 +7.1
AFK VanEck Africa Index ETF 3.9 98 -38 11.9 +8.1
ION ProShares S&P Global Core Battery Metals ETF 3.3 58 2 9.6 +5.8
FLCA Franklin FTSE Canada ETF 3.1 9 51 6.5 +2.7
AADR AdvisorShares Dorsey Wright ADR ETF 2.9 110 -50 4.9 +1.1
CGV Conductor Global Equity Value ETF 2.9 130 -70 8.4 +4.6
BEEX BeeHive ETF 2.8 84 -24 4.4 +0.6
BBCA JPMorgan BetaBuilders Canada ETF 2.7 19 41 6.3 +2.5
NANR SPDR S&P North American Natural Resources ETF 2.6 35 25 7.8 +4.0
FKU First Trust United Kingdom AlphaDEX Fund 2.6 80 -20 7.5 +3.7
FPXI First Trust International Equity Opportunities ETF 2.5 70 -10 4.3 +0.5
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 2.3 46 14 9.9 +6.1
GMET VanEck Green Metals ETF 2.2 63 -3 9.1 +5.3
DMAT Global X Disruptive Materials ETF 2.2 59 1 7.7 +3.9
EZA iShares MSCI South Africa ETF 2.2 58 2 10.4 +6.6
CCNR ALPS CoreCommodity Natural Resources ETF 2.1 39 21 11.0 +7.2
FEOE First Eagle Overseas Equity ETF 2.0 79 -19 8.1 +4.3
FTWO Strive FAANG 2.0 ETF 2.0 49 11 4.3 +0.5
AVDV Avantis International Small Cap Value ETF 2.0 36 24 9.6 +5.8
FEGE First Eagle Global Equity ETF 1.9 79 -19 7.0 +3.2
WWJD Inspire International ETF 1.7 80 -20 7.4 +3.6
MXI iShares Global Materials ETF 1.6 41 19 7.6 +3.8
FFTY Innovator IBD 50 ETF 1.6 80 -20 -2.4 -6.2
GNR SPDR S&P Global Natural Resources ETF 1.6 40 20 11.0 +7.2
EWC iShares MSCI Canada ETF 1.6 50 10 6.1 +2.3
FTRI First Trust Indxx Global Natural Resources Income ETF 1.4 70 -10 7.5 +3.7
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.4 20 40 6.6 +2.8
VIDI Vident International Equity Strategy ETF 1.4 61 -1 11.1 +7.3
FEP First Trust Europe AlphaDEX Fund 1.3 80 -20 9.3 +5.5
HAP VanEck Natural Resources ETF 1.3 50 10 9.4 +5.6
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.3 80 -20 10.7 +6.9
IGE iShares North American Natural Resources ETF 1.2 41 19 7.4 +3.6
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 1.2 85 -25 8.7 +4.9
COPY Tweedy, Browne Insider + Value ETF 1.2 80 -20 11.9 +8.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.1 80 -20 9.7 +5.9
PICK iShares MSCI Global Metals & Mining Producers ETF 1.0 39 21 12.8 +9.0
DISV Dimensional International Small Cap Value ETF 1.0 42 18 9.2 +5.4
GWX SPDR S&P International Small Cap ETF 1.0 40 20 6.1 +2.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.9 70 -10 4.9 +1.1
BLES Inspire Global Hope ETF 0.9 61 -1 6.9 +3.1
DFIS Dimensional International Small Cap ETF 0.9 39 21 7.4 +3.6
FYLD Cambria Foreign Shareholder Yield ETF 0.8 59 1 11.7 +7.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 0.8 32 28 6.1 +2.3
AVDS Avantis International Small Cap Equity ETF 0.8 30 30 7.4 +3.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.7 49 11 6.9 +3.1
UMMA Wahed Dow Jones Islamic World ETF 0.6 65 -5 5.6 +1.8
PID Invesco International Dividend Achievers ETF 0.6 53 7 5.6 +1.8
ISCF iShares International SmallCap Equity Factor ETF 0.5 23 37 8.3 +4.5
SCHC Schwab International Small-Cap Equity ETF 0.5 11 49 6.7 +2.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.5 39 21 8.0 +4.2
CGGR Capital Group Growth ETF 0.5 39 21 3.2 -0.6
DXIV Dimensional International Vector Equity ETF 0.5 34 26 7.9 +4.1
FNDC Schwab Fundamental International Small Co. Index ETF 0.5 39 21 5.8 +2.0
EMC Global X Emerging Markets Great Consumer ETF 0.5 75 -15 11.2 +7.4
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.5 12 48 6.1 +2.3
EMM Global X Emerging Markets ex-China ETF 0.5 75 -15 6.7 +2.9
IMTM iShares MSCI Intl Momentum Factor ETF 0.5 30 30 5.6 +1.8
ICOW Pacer Developed Markets International Cash Cows 100 ETF 0.4 65 -5 12.2 +8.4
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.4 53 7 8.1 +4.3
DFIC Dimensional International Core Equity 2 ETF 0.4 23 37 7.5 +3.7
FSST Fidelity Sustainable U.S. Equity ETF 0.4 59 1 4.4 +0.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.3 8 52 6.2 +2.4
AVDE Avantis International Equity ETF 0.3 23 37 7.5 +3.7
EWUS iShares MSCI United Kingdom Small Cap ETF 0.3 59 1 7.8 +4.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.3 30 30 8.0 +4.2
SCZ iShares MSCI EAFE Small-Cap ETF 0.3 40 20 7.0 +3.2
BKIE BNY Mellon International Equity ETF 0.3 4 56 7.1 +3.3
LIVR Intelligent Livermore ETF 0.3 69 -9 5.5 +1.7
DFSI Dimensional International Sustainability Core 1 ETF 0.3 24 36 6.5 +2.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.3 39 21 6.8 +3.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 48 5.3 +1.5
LDEM iShares ESG MSCI EM Leaders ETF 0.3 17 43 14.1 +10.3
DFAI Dimensional International Core Equity Market ETF 0.3 18 42 7.2 +3.4
TPIF Timothy Plan International ETF 0.3 62 -2 6.3 +2.5
AVES Avantis Emerging Markets Value ETF 0.3 36 24 11.2 +7.4
EMXF iShares ESG Advanced MSCI EM ETF 0.2 16 44 8.7 +4.9
IQLT iShares MSCI Intl Quality Factor ETF 0.2 30 30 6.4 +2.6
STXI Strive International Developed Markets ETF 0.2 29 31 6.8 +3.0
VSGX Vanguard ESG International Stock ETF 0.2 10 50 7.8 +4.0
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 56 7.1 +3.3
STXE Strive Emerging Markets Ex-China ETF 0.2 32 28 8.1 +4.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 42 8.1 +4.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 19 7.5 +3.7
VEA Vanguard FTSE Developed Markets ETF 0.2 3 57 7.3 +3.5
KLMN Invesco MSCI North America Climate ETF 0.2 9 51 5.0 +1.2
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 53 8.0 +4.2
AVSD Avantis Responsible International Equity ETF 0.2 23 37 5.8 +2.0
IGRO iShares International Dividend Growth ETF 0.2 15 45 7.3 +3.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 40 5.7 +1.9
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.2 38 22 9.4 +5.6
SCHF Schwab International Equity ETF 0.2 6 54 7.4 +3.6
AVEM Avantis Emerging Markets Equity ETF 0.2 33 27 8.9 +5.1
CIL VictoryShares International Volatility Wtd ETF 0.2 45 15 6.7 +2.9
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 57 7.1 +3.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.2 39 21 16.6 +12.8
QINT American Century Quality Diversified International ETF 0.2 39 21 7.5 +3.7
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.2 33 27 9.0 +5.2
VXUS Vanguard Total International Stock ETF 0.2 5 55 8.0 +4.2
EMXC iShares MSCI Emerging Markets ex China ETF 0.2 25 35 8.0 +4.2
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 26 7.9 +4.1
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.2 24 36 7.5 +3.7
DLS WisdomTree International SmallCap Dividend Fund 0.2 58 2 8.2 +4.4
INTF iShares International Equity Factor ETF 0.1 15 45 7.7 +3.9
DFEV Dimensional Emerging Markets Value ETF 0.1 43 17 13.6 +9.8
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 30 7.8 +4.0
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 56 8.2 +4.4
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 50 5.8 +2.0
PXH Invesco FTSE RAFI Emerging Markets ETF 0.1 49 11 16.0 +12.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.1 30 30 10.7 +6.9
ESGE iShares ESG Aware MSCI EM ETF 0.1 25 35 10.4 +6.6
DEHP Dimensional Emerging Markets High Profitability ETF 0.1 41 19 6.8 +3.0
JPIN J.P. Morgan Diversified Return International Equity ETF 0.1 37 23 8.4 +4.6
SCHE Schwab Emerging Markets Equity ETF 0.1 11 49 11.2 +7.4
DFAE Dimensional Emerging Core Equity Market ETF 0.1 35 25 9.5 +5.7
EEM iShares MSCI Emerging Markets ETF 0.1 69 -9 10.6 +6.8
APIE ActivePassive International Equity ETF 0.1 45 15 7.7 +3.9
IPAC iShares Core MSCI Pacific ETF 0.1 9 51 6.4 +2.6
EMGF iShares Emerging Markets Equity Factor ETF 0.1 25 35 12.0 +8.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.1 25 35 7.2 +3.4
VWO Vanguard FTSE Emerging Markets ETF 0.1 7 53 10.4 +6.6
GLBL Pacer MSCI World Industry Advantage ETF 0.1 65 -5 4.2 +0.4
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 51 10.7 +6.9
VYMI Vanguard International High Dividend Yield ETF 0.1 17 43 9.6 +5.8
VPL Vanguard FTSE Pacific ETF 0.1 7 53 6.9 +3.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 51 5.8 +2.0
IEUS iShares MSCI Europe Small-Cap ETF 0.1 42 18 7.5 +3.7
CRTC Xtrackers US National Critical Technologies ETF 0.1 35 25 4.9 +1.1
NUEM Nuveen ESG Emerging Markets Equity ETF 0.1 36 24 8.2 +4.4
RVRB Reverb ETF 0.1 30 30 4.6 +0.8
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 51 5.3 +1.5
ROAM Hartford Multifactor Emerging Markets ETF 0.1 44 16 12.4 +8.6
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 36 8.4 +4.6
XCEM Columbia EM Core ex-China ETF 0.1 16 44 8.6 +4.8
FLGB Franklin FTSE United Kingdom ETF 0.1 9 51 7.7 +3.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.1 50 10 11.2 +7.4
AVSE Avantis Responsible Emerging Markets Equity ETF 0.1 33 27 8.7 +4.9
VT Vanguard Total World Stock ETF 0.1 6 54 5.9 +2.1
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.6 +1.8
TOK iShares MSCI Kokusai ETF 0.1 26 34 5.1 +1.3
URTH iShares MSCI World ETF 0.1 24 36 5.2 +1.4
DIM WisdomTree International MidCap Dividend Fund 0.1 58 2 7.6 +3.8
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 28 6.4 +2.6
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.0 41 19 8.8 +5.0
IEFA iShares Core MSCI EAFE ETF 0.0 7 53 7.1 +3.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 15 9.0 +5.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 49 10.3 +6.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -6 9.8 +6.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 24 10.0 +6.2
XCNY SPDR S&P Emerging Markets ex-China ETF 0.0 15 45 8.0 +4.2
VGK Vanguard FTSE Europe ETF 0.0 6 54 7.6 +3.8
DFIV Dimensional International Value ETF 0.0 27 33 9.7 +5.9
SPEU SPDR Portfolio Europe ETF 0.0 7 53 7.6 +3.8
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 53 10.7 +6.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.0 30 30 9.3 +5.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.0 32 28 9.4 +5.6
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 45 10.5 +6.7
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 35 9.7 +5.9
BBEU JPMorgan BetaBuilders Europe ETF 0.0 9 51 7.4 +3.6
FLEE Franklin FTSE Europe ETF 0.0 9 51 7.4 +3.6
IQSI IQ Candriam International Equity ETF 0.0 15 45 6.7 +2.9
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.0 15 45 8.1 +4.3
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 11 10.4 +6.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 1 9.1 +5.3
IEUR iShares Core MSCI Europe ETF 0.0 11 49 7.5 +3.7
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 40 7.0 +3.2
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 30 6.0 +2.2
DIHP Dimensional International High Profitability ETF 0.0 29 31 7.3 +3.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 U.S. Global GO GOLD and Precious Metal Miners ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.2 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 CATEGORY
AVERAGE		 1.59
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.