Global X Gold Explorers ETF
ALTAR
Score™		 4.6% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 13.1x P/Sales
ratio		 2.5x
P/BV
ratio		 2.0x Div.
yield		 0.9%


  • 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) $47
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 50
Wgt avg mkt cap (mns) $2,470
Large cap (>$10bn) 5.1%
Mid cap ($2-10bn) 45.4%
Small cap (<$2bn) 49.5%
Developed mkts 90.4%
Emerging mkts 9.6%

TOP TEN HOLDINGS
ALAMOS GOLD INC. 4.9 %
HECLA MINING CO 4.2 %
LUNDIN GOLD INC. 3.9 %
PERSEUS MINING LTD 3.6 %
ELDORADO GOLD CORP 3.3 %
DE GREY MINING LTD 3.3 %
EQUINOX GOLD CORP. 3.2 %
NEW GOLD INC 3.1 %
COEUR D'ALENE MINES CORP 3.1 %
DUNDEE PRECIOUS METALS INC 3.0 %
Total 35.7 %

TOP COUNTRY EXPOSURE
CANADA 53.0 %
AUSTRALIA 29.5 %
UNITED STATES 7.4 %
INDONESIA 4.9 %
BRITAIN 2.3 %
SOUTH AFRICA 2.1 %
TURKEY 0.9 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
10.4% 49.9% 8.9% 9.9% -5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.96 27%
MSCI EAFE 1.27 48%
MSCI Emg. Mkts. 1.21 44%

Technical Indicators
Recent close $37.50
30d moving avg. $35.12
Annualized volatility 31.6%
Short interest (ETF) 0.1%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 15
Turnover 1.2%
Bid/Ask (% of price) 0.55%
ADV underlying (mns) $230

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 170 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™: 4.6%


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
(%)
AUMI Themes Gold Miners ETF 53.8 35 30 5.8 +1.2
SGDJ Sprott Junior Gold Miners ETF 45.8 50 15 5.5 +0.9
GDXJ VanEck Junior Gold Miners ETF 32.8 52 13 4.9 +0.3
SGDM Sprott Gold Miners ETF 30.2 50 15 4.7 +0.1
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 29.3 60 5 4.2 -0.3
RING iShares MSCI Global Gold Miners ETF 24.2 39 26 5.8 +1.2
SILJ ETFMG Prime Junior Silver Miners ETF 16.5 69 -4 2.7 -1.9
SLVP iShares MSCI Global Silver Miners ETF 16.1 39 26 5.8 +1.2
GDX VanEck Gold Miners ETF 10.8 51 14 4.5 -0.1
SIL Global X Silver Miners ETF 10.8 65 0 3.4 -1.2
AGMI Themes Silver Miners ETF 8.0 35 30 3.1 -1.5
XME SPDR S&P Metals & Mining ETF 7.3 35 30 10.3 +5.7
CGV Conductor Global Equity Value ETF 5.5 130 -65 9.2 +4.6
AVDV Avantis International Small Cap Value ETF 4.8 36 29 10.9 +6.4
IDX VanEck Indonesia Index ETF 3.9 57 8 8.4 +3.8
PYZ Invesco Dorsey Wright Basic Materials Momentum ETF 3.7 60 5 6.4 +1.8
CCNR ALPS CoreCommodity Natural Resources ETF 3.4 39 26 11.0 +6.4
FFTY Innovator IBD 50 ETF 3.0 80 -15 -2.5 -7.1
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.9 80 -15 11.8 +7.2
GWX SPDR S&P International Small Cap ETF 2.9 40 25 6.7 +2.1
EIDO iShares MSCI Indonesia ETF 2.8 59 6 8.5 +3.9
ARGT Global X MSCI Argentina ETF 2.8 59 6 4.2 -0.4
AFK VanEck Africa Index ETF 2.7 98 -33 12.6 +8.0
LIVR Intelligent Livermore ETF 2.7 69 -4 8.2 +3.6
DISV Dimensional International Small Cap Value ETF 2.4 42 23 9.7 +5.1
NANR SPDR S&P North American Natural Resources ETF 2.0 35 30 8.4 +3.8
DFIS Dimensional International Small Cap ETF 2.0 39 26 7.9 +3.3
OAIM OneAscent International Equity ETF 2.0 95 -30 6.2 +1.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.9 49 16 7.3 +2.8
SCHC Schwab International Small-Cap Equity ETF 1.9 11 54 7.1 +2.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 7 58 7.0 +2.4
FTRI First Trust Indxx Global Natural Resources Income ETF 1.6 70 -5 8.6 +4.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.2 39 26 8.3 +3.8
EPU iShares MSCI Peru and Global Exposure ETF 1.2 59 6 7.7 +3.1
LST Leuthold Select Industries ETF 1.2 91 -26 6.1 +1.5
ION ProShares S&P Global Core Battery Metals ETF 1.1 58 7 11.2 +6.6
NIKL Sprott Nickel Miners ETF 1.1 75 -10 15.7 +11.2
COPY Tweedy, Browne Insider + Value ETF 1.0 80 -15 12.6 +8.0
TUR iShares MSCI Turkey ETF 0.9 58 7 19.2 +14.6
SCZ iShares MSCI EAFE Small-Cap ETF 0.9 40 25 7.4 +2.8
FNDC Schwab Fundamental International Small Co. Index ETF 0.9 39 26 6.3 +1.7
GXG Global X MSCI Colombia ETF 0.8 62 3 18.8 +14.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.8 29 36 7.4 +2.8
ISCF iShares International SmallCap Equity Factor ETF 0.8 23 42 8.6 +4.0
FYLD Cambria Foreign Shareholder Yield ETF 0.8 59 6 12.5 +7.9
EWUS iShares MSCI United Kingdom Small Cap ETF 0.8 59 6 7.4 +2.8
IWN iShares Russell 2000 Value ETF 0.7 24 41 5.8 +1.2
AVDE Avantis International Equity ETF 0.7 23 42 8.0 +3.4
VTWV Vanguard Russell 2000 Value ETF 0.7 15 50 5.9 +1.4
GMET VanEck Green Metals ETF 0.6 63 2 10.8 +6.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.6 80 -15 10.0 +5.4
VAW Vanguard Materials ETF 0.6 10 55 6.4 +1.9
DFIC Dimensional International Core Equity 2 ETF 0.5 23 42 7.9 +3.4
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.5 80 -15 13.6 +9.0
FMAT Fidelity MSCI Materials Index ETF 0.5 8 57 6.5 +1.9
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.5 72 -7 -1.2 -5.7
AVSD Avantis Responsible International Equity ETF 0.5 23 42 6.8 +2.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 35 8.6 +4.0
OBOR KraneShares MSCI One Belt One Road Index ETF 0.5 79 -14 7.7 +3.1
DWAS Invesco Dorsey Wright SmallCap Momentum ETF 0.5 60 5 2.1 -2.5
FYC First Trust Small Cap Growth AlphaDEX Fund 0.4 71 -6 1.1 -3.5
ISMD Inspire Small/Mid Cap ETF 0.4 54 11 4.7 +0.1
DFSI Dimensional International Sustainability Core 1 ETF 0.4 24 41 6.6 +2.0
DLS WisdomTree International SmallCap Dividend Fund 0.4 58 7 8.9 +4.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.4 39 26 4.0 -0.6
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.4 45 20 0.0 -4.6
DFAT Dimensional U.S. Targeted Value ETF 0.4 28 37 10.0 +5.5
AVIV Avantis International Large Cap Value ETF 0.4 25 40 9.3 +4.7
VFVA Vanguard U.S. Value Factor ETF 0.4 13 52 11.7 +7.1
FESM Fidelity Enhanced Small Cap ETF 0.3 28 37 3.8 -0.7
IWM iShares Russell 2000 ETF 0.3 19 46 3.6 -0.9
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.3 70 -5 7.8 +3.2
VTWO Vanguard Russell 2000 ETF 0.3 10 55 3.8 -0.8
RSSL Global X Russell 2000 ETF 0.3 8 57 3.6 -1.0
IPAC iShares Core MSCI Pacific ETF 0.3 9 56 7.1 +2.5
IGE iShares North American Natural Resources ETF 0.3 41 24 7.7 +3.1
STXK Strive Small-Cap ETF 0.3 18 47 5.5 +0.9
IDEV iShares Core MSCI International Developed Markets ETF 0.3 4 61 7.4 +2.8
VIDI Vident International Equity Strategy ETF 0.3 61 4 12.0 +7.4
BKSE BNY Mellon US Small Cap Core Equity ETF 0.3 4 61 5.9 +1.3
VPL Vanguard FTSE Pacific ETF 0.3 8 57 7.7 +3.1
DFAI Dimensional International Core Equity Market ETF 0.3 18 47 7.6 +3.0
EWX SPDR S&P Emerging Markets Small Cap ETF 0.3 65 0 8.1 +3.5
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 58 8.3 +3.7
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.2 9 56 4.0 -0.6
IEUS iShares MSCI Europe Small-Cap ETF 0.2 42 23 7.2 +2.6
VSGX Vanguard ESG International Stock ETF 0.2 12 53 8.2 +3.6
SCHA Schwab U.S. Small-Cap ETF 0.2 4 61 5.3 +0.7
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 26 14.1 +9.5
DFSV Dimensional US Small Cap Value ETF 0.2 31 34 10.9 +6.3
VEA Vanguard FTSE Developed Markets ETF 0.2 5 60 7.6 +3.0
DES WisdomTree U.S. SmallCap Dividend Fund 0.2 38 27 8.7 +4.1
DFAS Dimensional U.S. Small Cap ETF 0.2 26 39 6.9 +2.4
ISCG iShares Morningstar Small-Cap Growth ETF 0.2 6 59 2.7 -1.8
VBR Vanguard Small Cap Value ETF 0.2 7 58 8.5 +3.9
VXUS Vanguard Total International Stock ETF 0.2 7 58 8.3 +3.7
EES WisdomTree U.S. SmallCap Fund 0.2 38 27 9.1 +4.5
ISCB iShares Morningstar Small-Cap ETF 0.2 4 61 5.6 +1.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 56 6.1 +1.5
FNDA Schwab Fundamental US Small Co. Index ETF 0.2 25 40 6.6 +2.0
QINT American Century Quality Diversified International ETF 0.2 39 26 7.6 +3.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.2 39 26 7.0 +2.4
FYX First Trust Small Cap Core AlphaDEX Fund 0.1 61 4 5.9 +1.3
ISCV iShares Morningstar Small Cap Value ETF 0.1 6 59 8.4 +3.8
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.1 17 48 5.7 +1.1
DFE WisdomTree Europe SmallCap Dividend Fund 0.1 58 7 8.4 +3.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.1 58 7 10.1 +5.6
IEFA iShares Core MSCI EAFE ETF 0.1 7 58 7.4 +2.8
VFMO Vanguard U.S. Momentum Factor ETF 0.1 13 52 3.4 -1.2
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.1 47 18 9.8 +5.2
XCNY SPDR S&P Emerging Markets ex-China ETF 0.1 15 50 0.0 -4.6
VXF Vanguard Extended Market ETF 0.1 6 59 4.5 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 62 7.5 +2.9
VB Vanguard Small-Cap ETF 0.1 5 60 5.7 +1.2
COPA Themes Copper Miners ETF 0.1 35 30 9.0 +4.4
FNX First Trust Mid Cap Core AlphaDEX Fund 0.1 60 5 8.2 +3.6
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 33 5.5 +0.9
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 0.1 7 58 6.2 +1.7
DFEV Dimensional Emerging Markets Value ETF 0.1 43 22 14.5 +9.9
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.1 64 1 2.4 -2.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.1 39 26 5.4 +0.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.1 38 27 9.9 +5.4
VT Vanguard Total World Stock ETF 0.1 7 58 6.3 +1.7
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 45 5.5 +1.0
VWO Vanguard FTSE Emerging Markets ETF 0.1 8 57 10.9 +6.3
FELV Fidelity Enhanced Large Cap Value ETF 0.1 18 47 6.8 +2.2
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 56 10.9 +6.3
AVEM Avantis Emerging Markets Equity ETF 0.1 33 32 9.7 +5.1
DFAE Dimensional Emerging Core Equity Market ETF 0.0 35 30 10.2 +5.6
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 48 6.0 +1.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 20 9.3 +4.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 6 13.7 +9.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 25 7.5 +3.0
DWM WisdomTree International Equity Fund 0.0 48 17 7.7 +3.1
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.0 15 50 8.6 +4.0
FRDM Freedom 100 Emerging Markets ETF 0.0 49 16 9.1 +4.5
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 58 10.9 +6.3
RNEM First Trust Emerging Markets Equity Select ETF 0.0 75 -10 1.0 -3.6
DFUV Dimensional US Marketwide Value ETF 0.0 22 43 8.1 +3.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 50 10.8 +6.2
DCOR Dimensional US Core Equity 1 ETF 0.0 14 51 5.8 +1.3
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 47 5.8 +1.2
SCHE Schwab Emerging Markets Equity ETF 0.0 11 54 11.6 +7.0
IEUR iShares Core MSCI Europe ETF 0.0 11 54 7.4 +2.8
AVUS Avantis U.S. Equity ETF 0.0 15 50 6.3 +1.7
FLAX Franklin FTSE Asia Ex Japan ETF 0.0 19 46 10.8 +6.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.0 32 33 9.6 +5.0
IWV iShares Russell 3000 ETF 0.0 20 45 5.0 +0.5
DFAU Dimensional US Core Equity Market ETF 0.0 12 53 5.5 +1.0
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 56 5.0 +0.4
VTHR Vanguard Russell 3000 ETF 0.0 10 55 5.2 +0.6
SCHB Schwab U.S. Broad Market ETF 0.0 3 62 5.3 +0.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 62 5.2 +0.6
DFUS Dimensional U.S. Equity ETF 0.0 9 56 5.3 +0.7
DTD WisdomTree U.S. Total Dividend Fund 0.0 28 37 6.2 +1.7
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 40 5.9 +1.3
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 40 7.3 +2.7
VTI Vanguard Total Stock Market ETF 0.0 3 62 5.2 +0.6
DIHP Dimensional International High Profitability ETF 0.0 29 36 7.4 +2.8
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 44 4.3 -0.3
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 16 10.5 +5.9
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 54 11.8 +7.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 29 11.2 +6.6
VGK Vanguard FTSE Europe ETF 0.0 11 54 7.5 +2.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 8 57 8.5 +3.9
SPEU SPDR Portfolio Europe ETF 0.0 7 58 7.5 +2.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.0 41 24 9.4 +4.8
AVES Avantis Emerging Markets Value ETF 0.0 36 29 12.2 +7.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 47 8.1 +3.5
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 0.0 85 -20 8.0 +3.4

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:		 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 9.8 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.6 %
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.