U.S. Global GO GOLD and Precious Metal Miners
ALTAR
Score™
3.7% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
15.7x P/Sales
ratio
2.5x
P/BV
ratio
1.5x Div.
yield
1.5%


  • 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) $36
Currency USD
Expense ratio 60 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $4,743
Large cap (>$10bn) 20.6%
Mid cap ($2-10bn) 26.2%
Small cap (<$2bn) 53.2%
Developed mkts 89.3%
Emerging mkts 10.8%

TOP TEN HOLDINGS
FRANCO-NEVADA CORP 10.8 %
SILVER WHEATON CORP 9.9 %
ROYAL GOLD INC 9.5 %
NORTH AMER PALLADIUM LTD 5.0 %
SANDSTORM GOLD LTD 4.9 %
SILVERCORP METALS INC 4.8 %
HARMONY GOLD MNG-SPON ADR 4.1 %
TOREX GOLD RESOURCES INC. 3.2 %
CENTERRA GOLD INC 3.1 %
TERANGA GOLD CORPORATION 3.1 %
Total 58.2 %

TOP COUNTRY EXPOSURE
CANADA 62.3 %
UNITED STATES 9.5 %
SOUTH AFRICA 8.8 %
AUSTRALIA 8.6 %
BRITAIN 7.5 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
43.5% 57.0% -- -- 14.9%

Market Correlations
versus... Beta R-squared
S&P500 -0.14 1%
MSCI EAFE 0.13 0%
MSCI Emg. Mkts. 0.26 3%

Technical Indicators
Recent close $15.85
30d moving avg. $15.78
Annualized volatility 24.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 63
Turnover 2.7%
Bid/Ask (% of price) 0.45%
ADV underlying (mns) $331

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the U.S. Global GO GOLD and Precious Metal Miners 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™: 3.7%


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 36.8 50 10 2.7 -0.9
GDX VanEck Vectors Gold Miners ETF 27.9 52 8 2.4 -1.3
GDXJ VanEck Vectors Jr. Gold Miners 24.0 53 7 2.5 -1.2
GOEX Global X Gold Explorers 21.1 65 -5 2.4 -1.3
SGDJ ALPS Sprott Junior Gold Miners 18.8 50 10 2.2 -1.4
SLVP iShares MSCI Global Silver Miners 15.4 39 21 0.6 -3.1
SIL Global X Silver Miners ETF 14.7 65 -5 1.9 -1.8
RING iShares MSCI Global Gold Miners 10.6 39 21 2.9 -0.8
NANR SPDR S&P N. American Nat. Resources 8.6 35 25 4.2 +0.5
SILJ ETFMG Prime Junior Silver 6.8 69 -9 -0.7 -4.3
XME SPDR Metals & Mining ETF 4.4 35 25 2.7 -1.0
OBOR KraneShares MSCI One Belt One Road Index 2.8 79 -19 9.3 +5.7
GUNR Flexshares Global Upstream Natural Resources 2.7 46 14 5.7 +2.1
PYZ Invesco Dynamic Basic Materials Sector 2.5 60 0 6.0 +2.4
EWC iShares MSCI Canada 2.5 47 13 7.2 +3.5
BBCA JPMorgan BetaBuilders Canada 2.3 19 41 7.3 +3.6
FLZA Franklin FTSE South Africa 2.3 19 41 9.1 +5.4
QCAN SPDR MSCI Canada Quality Mix 2.3 14 46 7.3 +3.7
FLCA Franklin FTSE Canada 2.2 9 51 7.7 +4.0
AVDV Avantis International Small Cap Value 2.2 36 24 7.2 +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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 5.9 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 CATEGORY
AVERAGE
1.55
 
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.