Global X Gold Explorers ETF
ALTAR
Score™		 4.4% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 21.3x P/Sales
ratio		 2.3x
P/BV
ratio		 1.6x Div.
yield		 1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X Gold Explorers ETF seeks to track the performance of the Solactive Global Gold Explorers Index.

FUND BASICS
Category Global Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Nov 03, 2010
Assets (mns) $42
Currency USD
Expense ratio 65 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 48
Wgt avg mkt cap (mns) $2,293
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 34.5%
Small cap (<$2bn) 65.5%
Developed mkts 91.0%
Emerging mkts 9.0%

TOP TEN HOLDINGS
HECLA MINING CO 4.8 %
ALAMOS GOLD INC. 4.0 %
ELDORADO GOLD CORP 3.9 %
COEUR D'ALENE MINES CORP 3.7 %
PERSEUS MINING LTD 3.4 %
BUMI RESOURCES MINERALS TBK 3.4 %
LUNDIN GOLD INC. 3.2 %
PT MERDEKA COPPER GOLD TBK 3.1 %
CASH 3.1 %
CENTAMIN EGYPT LTD 3.1 %
Total 35.8 %

TOP COUNTRY EXPOSURE
CANADA 46.2 %
AUSTRALIA 26.5 %
UNITED STATES 9.0 %
INDONESIA 7.7 %
BRITAIN 4.8 %
SOUTH AFRICA 1.7 %
TURKEY 0.9 %




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.
12.0% 26.8% 3.8% 12.3% -5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.91 26%
MSCI EAFE 1.15 42%
MSCI Emg. Mkts. 1.11 38%

Technical Indicators
Recent close $32.24
30d moving avg. $34.31
Annualized volatility 31.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.6%
Bid/Ask (% of price) 0.55%
ADV underlying (mns) $394

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 180 potential alternatives to the Global X Gold Explorers ETF ETF based on the alternatives' overlap in portfolio holdings with GOEX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GOEX Expense: 65 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GOEX
Ticker Fund
Name		 Overlap1
vs GOEX
(%)		 Expense
ratio
(bp)		 Savings
vs GOEX
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GOEX
(%)
SGDJ Sprott Junior Gold Miners ETF 45.6 50 15 5.6 +1.2
AUMI Themes Gold Miners ETF 34.9 35 30 10.4 +5.9
GDXJ VanEck Junior Gold Miners ETF 32.9 52 13 4.5 +0.1
RING iShares MSCI Global Gold Miners ETF 26.1 39 26 5.6 +1.1
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 25.1 60 5 4.8 +0.4
SGDM Sprott Gold Miners ETF 21.6 50 15 5.4 +1.0
SILJ ETFMG Prime Junior Silver Miners ETF 16.6 69 -4 1.5 -2.9
SLVP iShares MSCI Global Silver Miners ETF 13.0 39 26 3.2 -1.2
SIL Global X Silver Miners ETF 11.8 65 0 2.2 -2.3
GDX VanEck Gold Miners ETF 11.7 51 14 4.5 +0.0
AGMI Themes Silver Miners ETF 8.0 35 30 4.5 +0.1
XME SPDR S&P Metals & Mining ETF 6.1 35 30 8.3 +3.8
CGV Conductor Global Equity Value ETF 4.4 130 -65 10.9 +6.5
IDX VanEck Indonesia Index ETF 4.1 57 8 8.8 +4.3
AFK VanEck Africa Index ETF 4.0 98 -33 9.1 +4.7
PYZ Invesco Dorsey Wright Basic Materials Momentum ETF 3.6 60 5 5.2 +0.8
AVDV Avantis International Small Cap Value ETF 3.3 36 29 8.1 +3.7
DISV Dimensional International Small Cap Value ETF 2.9 42 23 9.1 +4.7
CCNR ALPS CoreCommodity Natural Resources ETF 2.8 39 26 11.0 +6.6
EIDO iShares MSCI Indonesia ETF 2.8 59 6 7.5 +3.1
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.5 80 -15 10.8 +6.4
GWX SPDR S&P International Small Cap ETF 2.5 40 25 6.5 +2.1
SCHC Schwab International Small-Cap Equity ETF 1.8 11 54 6.6 +2.2
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.8 49 16 7.0 +2.6
ARGT Global X MSCI Argentina ETF 1.7 59 6 5.4 +1.0
DFIS Dimensional International Small Cap ETF 1.7 39 26 6.9 +2.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.4 7 58 6.7 +2.3
NANR SPDR S&P North American Natural Resources ETF 1.3 35 30 7.4 +3.0
EPU iShares MSCI Peru and Global Exposure ETF 1.3 59 6 5.5 +1.1
FTRI First Trust Indxx Global Natural Resources Income ETF 1.2 70 -5 9.8 +5.3
ION ProShares S&P Global Core Battery Metals ETF 1.1 58 7 15.5 +11.1
NIKL Sprott Nickel Miners ETF 1.1 75 -10 10.2 +5.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.0 39 26 7.4 +3.0
EWUS iShares MSCI United Kingdom Small Cap ETF 0.9 59 6 5.8 +1.4
GMET VanEck Green Metals ETF 0.9 63 2 10.7 +6.3
FNDC Schwab Fundamental International Small Co. Index ETF 0.9 39 26 7.2 +2.8
TUR iShares MSCI Turkey ETF 0.8 58 7 19.7 +15.3
FYLD Cambria Foreign Shareholder Yield ETF 0.8 59 6 13.6 +9.2
SCZ iShares MSCI EAFE Small-Cap ETF 0.8 40 25 6.6 +2.2
BATT Amplify Lithium & Battery Technology ETF 0.8 59 6 -0.1 -4.5
ISCF iShares International SmallCap Equity Factor ETF 0.7 23 42 9.1 +4.7
OBOR KraneShares MSCI One Belt One Road Index ETF 0.6 79 -14 10.3 +5.9
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.6 80 -15 12.3 +7.9
AVDE Avantis International Equity ETF 0.6 23 42 8.1 +3.6
FYC First Trust Small Cap Growth AlphaDEX Fund 0.5 71 -6 -0.5 -4.9
IWN iShares Russell 2000 Value ETF 0.5 24 41 4.8 +0.4
VTWV Vanguard Russell 2000 Value ETF 0.5 15 50 4.9 +0.5
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.4 72 -7 1.0 -3.4
DFIC Dimensional International Core Equity 2 ETF 0.4 23 42 7.7 +3.3
FMAT Fidelity MSCI Materials Index ETF 0.4 8 57 6.4 +2.0
CARZ First Trust NASDAQ Global Auto Index Fund 0.4 70 -5 3.8 -0.6
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.4 80 -15 9.1 +4.7
ISMD Inspire Small/Mid Cap ETF 0.4 54 11 5.3 +0.9
COPA Themes Copper Miners ETF 0.4 35 30 7.3 +2.9
VAW Vanguard Materials ETF 0.4 10 55 6.3 +1.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 35 8.0 +3.5
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.3 29 36 6.5 +2.1
IEUS iShares MSCI Europe Small-Cap ETF 0.3 42 23 6.4 +2.0
DWAS Invesco Dorsey Wright SmallCap Momentum ETF 0.3 60 5 1.4 -3.1
DFSI Dimensional International Sustainability Core 1 ETF 0.3 24 41 6.5 +2.1
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.3 39 26 4.1 -0.4
DFAT Dimensional U.S. Targeted Value ETF 0.3 28 37 7.8 +3.3
AVSC Avantis U.S Small Cap Equity ETF 0.3 25 40 4.7 +0.3
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.3 70 -5 7.7 +3.3
STXK Strive Small-Cap ETF 0.3 18 47 5.0 +0.6
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 26 12.8 +8.4
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.3 45 20 -0.6 -5.0
DFE WisdomTree Europe SmallCap Dividend Fund 0.3 58 7 10.7 +6.3
AVSD Avantis Responsible International Equity ETF 0.3 23 42 7.1 +2.7
IDEV iShares Core MSCI International Developed Markets ETF 0.3 4 61 7.1 +2.7
EWX SPDR S&P Emerging Markets Small Cap ETF 0.3 65 0 8.2 +3.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.3 58 7 10.2 +5.8
IPAC iShares Core MSCI Pacific ETF 0.2 9 56 7.2 +2.8
RNSC Furst Trust Small Cap US Equity Select ETF 0.2 60 5 6.8 +2.4
AVUV Avantis U.S. Small Cap Value ETF 0.2 25 40 8.8 +4.4
IWM iShares Russell 2000 ETF 0.2 19 46 2.8 -1.6
RSSL Global X Russell 2000 ETF 0.2 8 57 2.6 -1.8
VTWO Vanguard Russell 2000 ETF 0.2 10 55 2.9 -1.5
VPL Vanguard FTSE Pacific ETF 0.2 8 57 7.7 +3.3
FYX First Trust Small Cap Core AlphaDEX Fund 0.2 61 4 4.6 +0.1
DFAI Dimensional International Core Equity Market ETF 0.2 18 47 7.3 +2.9
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 58 7.2 +2.8
VSGX Vanguard ESG International Stock ETF 0.2 12 53 6.8 +2.3
VEA Vanguard FTSE Developed Markets ETF 0.2 5 60 7.3 +2.9
BKSE BNY Mellon US Small Cap Core Equity ETF 0.2 4 61 4.8 +0.3
DFAS Dimensional U.S. Small Cap ETF 0.2 26 39 5.5 +1.1
SCHA Schwab U.S. Small-Cap ETF 0.2 4 61 4.4 +0.0
FNDA Schwab Fundamental US Small Co. Index ETF 0.2 25 40 6.0 +1.6
FESM Fidelity Enhanced Small Cap ETF 0.2 28 37 1.7 -2.7
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.2 9 56 3.3 -1.1
IGE iShares North American Natural Resources ETF 0.2 41 24 6.1 +1.7
VBR Vanguard Small Cap Value ETF 0.2 7 58 7.8 +3.4
VXUS Vanguard Total International Stock ETF 0.2 7 58 7.2 +2.8
DLS WisdomTree International SmallCap Dividend Fund 0.2 58 7 8.8 +4.4
DES WisdomTree U.S. SmallCap Dividend Fund 0.2 38 27 6.8 +2.4
ISCV iShares Morningstar Small Cap Value ETF 0.1 6 59 7.2 +2.8
QINT American Century Quality Diversified International ETF 0.1 39 26 7.7 +3.3
ISCB iShares Morningstar Small-Cap ETF 0.1 4 61 4.8 +0.3
IEFA iShares Core MSCI EAFE ETF 0.1 7 58 7.1 +2.7
XCNY SPDR S&P Emerging Markets ex-China ETF 0.1 15 50 6.3 +1.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.1 39 26 7.5 +3.1
DFEV Dimensional Emerging Markets Value ETF 0.1 43 22 11.1 +6.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.1 64 1 1.8 -2.6
ESGE iShares ESG Aware MSCI EM ETF 0.1 25 40 7.1 +2.7
ISCG iShares Morningstar Small-Cap Growth ETF 0.1 6 59 2.3 -2.2
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 62 7.2 +2.8
DFSV Dimensional US Small Cap Value ETF 0.1 31 34 8.3 +3.8
FRDM Freedom 100 Emerging Markets ETF 0.1 49 16 7.3 +2.9
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 56 5.4 +0.9
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 0.1 7 58 5.3 +0.9
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.1 17 48 4.7 +0.3
VB Vanguard Small-Cap ETF 0.1 5 60 4.9 +0.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 45 4.6 +0.1
VXF Vanguard Extended Market ETF 0.1 6 59 3.5 -0.9
VWO Vanguard FTSE Emerging Markets ETF 0.1 8 57 6.9 +2.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.1 38 27 7.8 +3.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 33 6.9 +2.4
VT Vanguard Total World Stock ETF 0.1 7 58 5.5 +1.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.1 20 45 6.8 +2.4
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 56 7.5 +3.0
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 -10 7.6 +3.1
FELV Fidelity Enhanced Large Cap Value ETF 0.1 18 47 6.4 +2.0
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 33 6.0 +1.6
AVEM Avantis Emerging Markets Equity ETF 0.1 33 32 8.9 +4.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 50 10.2 +5.8
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 58 7.3 +2.9
DFAE Dimensional Emerging Core Equity Market ETF 0.0 35 30 7.3 +2.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 50 7.2 +2.8
EZM WisdomTree U.S. MidCap Fund 0.0 38 27 7.4 +2.9
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 54 8.4 +4.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 29 7.8 +3.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.0 32 33 6.2 +1.8
SCHE Schwab Emerging Markets Equity ETF 0.0 11 54 7.1 +2.7
EMXF iShares ESG Advanced MSCI EM ETF 0.0 16 49 6.8 +2.4
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 48 5.3 +0.9
LDEM iShares ESG MSCI EM Leaders ETF 0.0 17 48 7.6 +3.2
IEUR iShares Core MSCI Europe ETF 0.0 11 54 7.1 +2.6
DCOR Dimensional US Core Equity 1 ETF 0.0 14 51 5.3 +0.9
FLAX Franklin FTSE Asia Ex Japan ETF 0.0 19 46 6.9 +2.4
VFVA Vanguard U.S. Value Factor ETF 0.0 13 52 10.0 +5.6
AVES Avantis Emerging Markets Value ETF 0.0 36 29 11.6 +7.2
AVUS Avantis U.S. Equity ETF 0.0 15 50 5.6 +1.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 6 11.3 +6.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -1 10.0 +5.6
DFUV Dimensional US Marketwide Value ETF 0.0 22 43 7.2 +2.7
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 47 5.4 +1.0
VGK Vanguard FTSE Europe ETF 0.0 11 54 7.1 +2.6
EMXC iShares MSCI Emerging Markets ex China ETF 0.0 25 40 6.7 +2.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 20 8.9 +4.5
SPEU SPDR Portfolio Europe ETF 0.0 7 58 7.1 +2.7
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 16 8.2 +3.8
EEMA iShares MSCI Emerging Markets Asia ETF 0.0 49 16 6.5 +2.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.0 45 20 11.0 +6.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 25 7.9 +3.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.0 70 -5 6.2 +1.7
EEM iShares MSCI Emerging Markets ETF 0.0 69 -4 6.9 +2.5
DFAU Dimensional US Core Equity Market ETF 0.0 12 53 5.0 +0.6
DFUS Dimensional U.S. Equity ETF 0.0 9 56 4.9 +0.4
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 40 6.8 +2.3
SCHB Schwab U.S. Broad Market ETF 0.0 3 62 4.9 +0.5
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 56 4.8 +0.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.0 41 24 7.4 +3.0
IWV iShares Russell 3000 ETF 0.0 20 45 4.7 +0.2
VTHR Vanguard Russell 3000 ETF 0.0 10 55 4.7 +0.3
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 40 5.2 +0.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 62 4.8 +0.4
VTI Vanguard Total Stock Market ETF 0.0 3 62 4.7 +0.3
AVIV Avantis International Large Cap Value ETF 0.0 25 40 9.0 +4.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 24 7.4 +3.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 47 7.0 +2.6
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 8 57 7.3 +2.8
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 44 3.8 -0.6
DWM WisdomTree International Equity Fund 0.0 48 17 8.0 +3.5
EMGF iShares Emerging Markets Equity Factor ETF 0.0 25 40 8.5 +4.1
ACWX iShares MSCI ACWI ex U.S. ETF 0.0 34 31 7.0 +2.5
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 35 6.9 +2.5
ACWI iShares MSCI ACWI ETF 0.0 32 33 5.3 +0.9
DIHP Dimensional International High Profitability ETF 0.0 29 36 7.6 +3.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 23 8.1 +3.6
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 0.0 85 -20 8.6 +4.1

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Global X Gold Explorers ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.6 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.39 CATEGORY
AVERAGE		 1.53
 
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.