Global X Gold Explorers ETF
ALTAR
Score™		 4.9% info Recommen-
dation		 OVERWEIGHT
2024E    2025E
P/E
ratio		 18.6x P/Sales
ratio		 2.0x
P/BV
ratio		 1.3x Div.
yield		 1.1%


  • 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) $37
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 51
Wgt avg mkt cap (mns) $1,666
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 23.9%
Small cap (<$2bn) 76.1%
Developed mkts 91.2%
Emerging mkts 8.8%

TOP TEN HOLDINGS
HECLA MINING CO 5.7 %
ELDORADO GOLD CORP 5.0 %
ALAMOS GOLD INC. 4.0 %
PT MERDEKA COPPER GOLD TBK 4.0 %
PERSEUS MINING LTD 3.7 %
CENTAMIN EGYPT LTD 3.3 %
EQUINOX GOLD CORP. 3.2 %
OCEANAGOLD CORP 3.1 %
DUNDEE PRECIOUS METALS INC 2.7 %
COEUR D'ALENE MINES CORP 2.7 %
Total 37.3 %

TOP COUNTRY EXPOSURE
CANADA 45.9 %
AUSTRALIA 29.8 %
UNITED STATES 9.3 %
INDONESIA 7.0 %
BRITAIN 5.5 %
TURKEY 1.4 %
SOUTH AFRICA 1.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.2% -21.8% 2.0% 5.5% -8.0%

Market Correlations
versus... Beta R-squared
S&P500 0.98 27%
MSCI EAFE 1.28 43%
MSCI Emg. Mkts. 1.09 33%

Technical Indicators
Recent close $27.51
30d moving avg. $23.95
Annualized volatility 33.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.6%
Bid/Ask (% of price) 0.55%
ADV underlying (mns) $368

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 173 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™: 4.9%


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 49.3 50 15 5.2 +0.3
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 32.4 60 5 6.2 +1.3
GDXJ VanEck Junior Gold Miners ETF 31.5 52 13 4.8 -0.1
RING iShares MSCI Global Gold Miners ETF 24.3 39 26 5.7 +0.8
SGDM Sprott Gold Miners ETF 22.6 50 15 5.9 +1.0
SILJ ETFMG Prime Junior Silver Miners ETFMG Prime Junior Silver M 15.5 69 -4 1.3 -3.6
SLVP iShares MSCI Global Silver Miners ETF 13.8 39 26 3.8 -1.1
GDX VanEck Gold Miners ETF 11.6 51 14 4.7 -0.3
SIL Global X Silver Miners ETF 9.4 65 0 2.6 -2.4
XME SPDR S&P Metals & Mining ETF 6.9 35 30 7.2 +2.3
AFK VanEck Africa Index ETF 4.1 98 -33 10.0 +5.1
IDX VanEck Indonesia Index ETF 3.5 57 8 7.9 +3.0
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 3.0 80 -15 11.0 +6.1
EIDO iShares MSCI Indonesia ETF 2.9 59 6 7.6 +2.7
DISV Dimensional International Small Cap Value ETF 2.8 42 23 9.2 +4.3
ION ProShares S&P Global Core Battery Metals ETF 2.7 58 7 11.6 +6.7
GWX SPDR S&P International Small Cap ETF 2.6 40 25 6.6 +1.7
AVDV Avantis International Small Cap Value ETF 2.5 36 29 8.0 +3.1
CGV Conductor Global Equity Value ETF 2.4 130 -65 11.3 +6.4
NIKL Sprott Nickel Miners ETF 1.7 75 -10 7.5 +2.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.7 49 16 6.7 +1.8
DFIS Dimensional International Small Cap ETF 1.5 39 26 6.7 +1.8
SCHC Schwab International Small-Cap Equity ETF 1.5 11 54 6.4 +1.5
ARGT Global X MSCI Argentina ETF 1.3 59 6 7.4 +2.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.2 7 58 6.5 +1.6
EPU iShares MSCI Peru and Global Exposure ETF 1.1 59 6 5.5 +0.6
TUR iShares MSCI Turkey ETF 1.1 58 7 18.6 +13.7
BATT Amplify Lithium & Battery Technology ETF 0.8 59 6 2.9 -2.0
EWUS iShares MSCI United Kingdom Small Cap ETF 0.8 59 6 6.2 +1.3
SCZ iShares MSCI EAFE Small-Cap ETF 0.7 40 25 0.0 -4.9
FNDC Schwab Fundamental International Small Co. Index ETF 0.7 39 26 6.9 +2.0
FTRI First Trust Indxx Global Natural Resources Income ETF 0.7 70 -5 10.6 +5.7
ISCF iShares International SmallCap Equity Factor ETF 0.7 23 42 8.8 +3.9
OBOR KraneShares MSCI One Belt One Road Index ETF 0.6 79 -14 10.3 +5.4
CARZ First Trust NASDAQ Global Auto Index Fund 0.6 70 -5 3.5 -1.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.5 39 26 7.3 +2.4
DFSV Dimensional US Small Cap Value ETF 0.5 31 34 8.9 +4.0
AVDE Avantis International Equity ETF 0.4 23 42 7.9 +2.9
DFIC Dimensional International Core Equity 2 ETF 0.4 23 42 7.4 +2.5
VAW Vanguard Materials ETF 0.4 10 55 6.5 +1.6
COPJ Sprott Junior Copper Miners ETF 0.4 75 -10 9.5 +4.6
IWN iShares Russell 2000 Value ETF 0.3 24 41 5.6 +0.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.3 30 35 7.8 +2.9
VTWV Vanguard Russell 2000 Value ETF 0.3 15 50 5.8 +0.9
ISMD Inspire Small/Mid Cap ETF 0.3 54 11 6.1 +1.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.3 39 26 4.5 -0.4
DFAT Dimensional U.S. Targeted Value ETF 0.3 28 37 8.2 +3.3
EQAL Invesco Russell 1000 Equal Weight ETF 0.3 20 45 6.0 +1.1
COPX Global X Copper Miners ETF 0.3 65 0 6.9 +2.0
HAP VanEck Natural Resources ETF 0.3 50 15 9.5 +4.6
AVSC Avantis U.S Small Cap Equity ETF 0.3 25 40 5.4 +0.5
IEUS iShares MSCI Europe Small-Cap ETF 0.3 42 23 0.0 -4.9
DFSI Dimensional International Sustainability Core 1 ETF 0.3 24 41 6.2 +1.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.2 29 36 7.4 +2.5
FMAT Fidelity MSCI Materials Index ETF 0.2 8 57 6.6 +1.7
IPAC iShares Core MSCI Pacific ETF 0.2 9 56 6.7 +1.8
IWM iShares Russell 2000 ETF 0.2 19 46 3.6 -1.3
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.2 45 20 4.9 -0.0
VTWO Vanguard Russell 2000 ETF 0.2 10 55 3.9 -1.1
DFAI Dimensional International Core Equity Market ETF 0.2 18 47 6.9 +2.0
DLS WisdomTree International SmallCap Dividend Fund 0.2 58 7 8.8 +3.9
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.2 45 20 12.7 +7.8
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 61 6.7 +1.8
VPL Vanguard FTSE Pacific ETF 0.2 8 57 7.0 +2.0
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 26 11.0 +6.1
ESGE iShares ESG Aware MSCI EM ETF 0.2 25 40 7.7 +2.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 7 10.1 +5.2
DFE WisdomTree Europe SmallCap Dividend Fund 0.2 58 7 10.9 +6.0
RNEM First Trust Emerging Markets Equity Select ETF 0.2 75 -10 8.2 +3.3
VSGX Vanguard ESG International Stock ETF 0.2 12 53 6.8 +1.9
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 58 6.9 +2.0
STXK Strive Small-Cap ETF 0.2 18 47 5.5 +0.6
ISCV iShares Morningstar Small Cap Value ETF 0.2 6 59 8.1 +3.2
FNDA Schwab Fundamental US Small Co. Index ETF 0.2 25 40 6.8 +1.9
VEA Vanguard FTSE Developed Markets ETF 0.2 5 60 7.0 +2.1
RNMC First Trust Mid Cap US Equity Select ETF 0.1 60 5 7.9 +3.0
DFAS Dimensional U.S. Small Cap ETF 0.1 26 39 6.0 +1.1
VXUS Vanguard Total International Stock ETF 0.1 7 58 7.1 +2.2
IGE iShares North American Natural Resources ETF 0.1 41 24 6.4 +1.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.1 44 21 10.3 +5.4
SCHA Schwab U.S. Small-Cap ETF 0.1 4 61 4.9 -0.0
FRDM Freedom 100 Emerging Markets ETF 0.1 49 16 7.3 +2.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 33 7.6 +2.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 56 5.7 +0.8
ISCB iShares Morningstar Small-Cap ETF 0.1 4 61 5.3 +0.4
VTWG Vanguard Russell 2000 Growth ETF 0.1 15 50 1.7 -3.2
IWO iShares Russell 2000 Growth ETF 0.1 24 41 1.4 -3.5
BKSE BNY Mellon US Small Cap Core Equity ETF 0.1 4 61 5.7 +0.8
VBR Vanguard Small Cap Value ETF 0.1 7 58 8.2 +3.3
DES WisdomTree U.S. SmallCap Dividend Fund 0.1 38 27 8.1 +3.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.1 70 -5 7.2 +2.3
IPKW Invesco International BuyBack Achievers ETF 0.1 55 10 9.1 +4.2
IEFA iShares Core MSCI EAFE ETF 0.1 7 58 2.7 -2.2
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 33 6.2 +1.3
EMMF WisdomTree Emerging Markets Multifactor Fund 0.1 48 17 9.4 +4.4
VB Vanguard Small-Cap ETF 0.1 5 60 5.4 +0.5
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 62 6.9 +2.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.1 32 33 6.3 +1.4
LDEM iShares ESG MSCI EM Leaders ETF 0.1 17 48 7.7 +2.8
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 0 7.7 +2.8
VWO Vanguard FTSE Emerging Markets ETF 0.1 8 57 7.6 +2.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.1 39 26 7.6 +2.7
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.1 9 56 4.0 -0.9
VBK Vanguard Small-Cap Growth ETF 0.1 7 58 1.5 -3.5
DFEV Dimensional Emerging Markets Value ETF 0.1 43 22 10.9 +6.0
VXF Vanguard Extended Market ETF 0.1 6 59 3.9 -1.0
ISCG iShares Morningstar Small-Cap Growth ETF 0.1 6 59 2.5 -2.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.1 20 45 7.5 +2.6
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 0.1 7 58 5.7 +0.8
VT Vanguard Total World Stock ETF 0.1 7 58 5.8 +0.9
EMXF iShares ESG Advanced MSCI EM ETF 0.1 16 49 7.4 +2.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.1 38 27 8.2 +3.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 0.1 24 41 8.0 +3.1
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 56 7.5 +2.6
EEMA iShares MSCI Emerging Markets Asia ETF 0.1 49 16 6.7 +1.8
AVEM Avantis Emerging Markets Equity ETF 0.0 33 32 9.1 +4.2
EMXC iShares MSCI Emerging Markets ex China ETF 0.0 25 40 6.7 +1.8
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 16 8.3 +3.4
NUSC Nuveen ESG Small-Cap ETF 0.0 31 34 5.2 +0.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.0 45 20 8.6 +3.7
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 54 7.7 +2.8
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 0.0 85 -20 8.1 +3.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 53 5.1 +0.2
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 58 7.5 +2.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 29 7.5 +2.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -1 7.2 +2.3
SCHE Schwab Emerging Markets Equity ETF 0.0 11 54 7.6 +2.7
DFAE Dimensional Emerging Core Equity Market ETF 0.0 35 30 7.7 +2.8
SETM Sprott Energy Transition Materials ETF 0.0 65 0 5.3 +0.4
EEM iShares MSCI Emerging Markets ETF 0.0 69 -4 7.0 +2.0
AVUV Avantis U.S. Small Cap Value ETF 0.0 25 40 10.0 +5.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.0 70 -5 6.3 +1.4
XCEM Columbia EM Core ex-China ETF 0.0 16 49 7.4 +2.4
AVES Avantis Emerging Markets Value ETF 0.0 36 29 12.1 +7.1
NANC Unusual Whales Subversive Democratic Trading ETF 0.0 75 -10 3.8 -1.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 6 9.6 +4.7
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.0 15 50 7.1 +2.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.0 20 45 6.7 +1.8
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 48 5.7 +0.8
FLAX Franklin FTSE Asia Ex Japan ETF 0.0 19 46 7.2 +2.3
IEUR iShares Core MSCI Europe ETF 0.0 11 54 -1.3 -6.2
DFUV Dimensional US Marketwide Value ETF 0.0 22 43 7.6 +2.7
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 0.0 29 36 9.1 +4.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 20 8.5 +3.6
VGK Vanguard FTSE Europe ETF 0.0 11 54 6.8 +1.9
EZM WisdomTree U.S. MidCap Fund 0.0 38 27 8.1 +3.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.0 41 24 7.8 +2.9
SPEU SPDR Portfolio Europe ETF 0.0 7 58 6.6 +1.7
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 0.0 20 45 10.7 +5.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 24 6.7 +1.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 8 57 7.2 +2.3
ACWX iShares MSCI ACWI ex U.S. ETF 0.0 34 31 6.7 +1.8
IWV iShares Russell 3000 ETF 0.0 20 45 5.0 +0.1
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 47 5.7 +0.8
AVUS Avantis U.S. Equity ETF 0.0 15 50 6.0 +1.1
DFAU Dimensional US Core Equity Market ETF 0.0 12 53 5.4 +0.5
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 56 5.1 +0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 25 7.8 +2.9
VTHR Vanguard Russell 3000 ETF 0.0 10 55 5.1 +0.2
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 40 7.1 +2.2
VTI Vanguard Total Stock Market ETF 0.0 3 62 5.1 +0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 62 5.1 +0.2
DFUS Dimensional U.S. Equity ETF 0.0 9 56 5.1 +0.2
SCHB Schwab U.S. Broad Market ETF 0.0 3 62 5.2 +0.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 23 6.8 +1.9
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 40 5.7 +0.7
EMGF iShares Emerging Markets Equity Factor ETF 0.0 25 40 8.7 +3.8
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 35 6.8 +1.9
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.0 15 50 4.9 -0.0
ACWI iShares MSCI ACWI ETF 0.0 32 33 5.5 +0.6
DWM WisdomTree International Equity Fund 0.0 48 17 7.8 +2.9
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 0.0 20 45 5.1 +0.2
VONE Vanguard Russell 1000 ETF 0.0 8 57 5.2 +0.3

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:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.3 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.31 CATEGORY
AVERAGE		 1.50
 
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.