Global X Gold Explorers ETF
ALTAR
Score™		 4.8% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 12.4x P/Sales
ratio		 2.5x
P/BV
ratio		 2.0x 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) $56
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 52
Wgt avg mkt cap (mns) $3,108
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
LUNDIN GOLD INC. 4.4 %
ELDORADO GOLD CORP 3.9 %
COEUR D'ALENE MINES CORP 3.6 %
PERSEUS MINING LTD 3.5 %
ALAMOS GOLD INC. 3.5 %
NEW GOLD INC 3.5 %
TOREX GOLD RESOURCES INC. 3.2 %
HECLA MINING CO 3.2 %
GENESIS MINERALS LIMITED 2.9 %
EQUINOX GOLD CORP. 2.9 %
Total 34.6 %

TOP COUNTRY EXPOSURE
CANADA 54.7 %
AUSTRALIA 28.3 %
UNITED STATES 7.2 %
INDONESIA 4.9 %
BRITAIN 2.3 %
SOUTH AFRICA 1.9 %
TURKEY 0.7 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
38.5% 56.8% 11.1% 12.5% -3.6%

Market Correlations
versus... Beta R-squared
S&P500 0.75 14%
MSCI EAFE 1.21 40%
MSCI Emg. Mkts. 1.26 43%

Technical Indicators
Recent close $39.79
30d moving avg. $39.87
Annualized volatility 32.7%
Short interest (ETF) 14.4%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.9%
Bid/Ask (% of price) 0.55%
ADV underlying (mns) $230

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 176 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™: 4.8%


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 50.3 35 30 6.2 +1.4
SGDJ Sprott Junior Gold Miners ETF 39.3 50 15 5.7 +1.0
GDXJ VanEck Junior Gold Miners ETF 34.0 52 13 5.1 +0.4
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 31.5 60 5 4.2 -0.6
SGDM Sprott Gold Miners ETF 24.8 50 15 4.6 -0.2
RING iShares MSCI Global Gold Miners ETF 24.2 39 26 6.2 +1.4
SLVP iShares MSCI Global Silver Miners ETF 16.3 39 26 6.2 +1.4
SILJ ETFMG Prime Junior Silver Miners ETF 14.8 69 -4 2.7 -2.1
AGMI Themes Silver Miners ETF 12.8 35 30 6.3 +1.6
GDX VanEck Gold Miners ETF 11.9 51 14 4.8 +0.0
SIL Global X Silver Miners ETF 9.8 65 0 3.4 -1.3
XME SPDR S&P Metals & Mining ETF 6.8 35 30 9.8 +5.0
CGV Conductor Global Equity Value ETF 5.5 130 -65 9.3 +4.5
PYZ Invesco Dorsey Wright Basic Materials Momentum ETF 4.9 60 5 7.1 +2.4
AVDV Avantis International Small Cap Value ETF 4.8 36 29 10.6 +5.8
CCNR ALPS CoreCommodity Natural Resources ETF 4.6 39 26 12.1 +7.3
IDX VanEck Indonesia Index ETF 4.1 57 8 7.6 +2.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 3.7 80 -15 12.3 +7.6
LIVR Intelligent Livermore ETF 3.2 69 -4 6.5 +1.7
GWX SPDR S&P International Small Cap ETF 3.2 40 25 6.7 +2.0
AFK VanEck Africa Index ETF 2.8 98 -33 12.3 +7.6
NANR SPDR S&P North American Natural Resources ETF 2.5 35 30 8.7 +4.0
DFIS Dimensional International Small Cap ETF 2.5 39 26 7.8 +3.0
DISV Dimensional International Small Cap Value ETF 2.5 42 23 9.8 +5.1
ARGT Global X MSCI Argentina ETF 2.4 59 6 3.4 -1.3
COPA Themes Copper Miners ETF 2.2 35 30 7.4 +2.6
EIDO iShares MSCI Indonesia ETF 2.2 59 6 7.7 +2.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 16 7.4 +2.7
OAIM OneAscent International Equity ETF 2.0 95 -30 6.2 +1.4
SCHC Schwab International Small-Cap Equity ETF 2.0 11 54 7.1 +2.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.9 7 58 7.1 +2.3
FTRI First Trust Indxx Global Natural Resources Income ETF 1.8 70 -5 8.6 +3.8
ION ProShares S&P Global Core Battery Metals ETF 1.4 58 7 12.6 +7.9
NIKL Sprott Nickel Miners ETF 1.4 75 -10 15.8 +11.1
LST Leuthold Select Industries ETF 1.2 91 -26 5.6 +0.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.2 39 26 8.6 +3.8
COPY Tweedy, Browne Insider + Value ETF 1.1 80 -15 12.6 +7.8
FYC First Trust Small Cap Growth AlphaDEX Fund 1.1 71 -6 0.5 -4.3
EWUS iShares MSCI United Kingdom Small Cap ETF 1.0 59 6 7.4 +2.6
FFTY Innovator IBD 50 ETF 1.0 80 -15 -0.4 -5.1
FYLD Cambria Foreign Shareholder Yield ETF 1.0 59 6 12.1 +7.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.0 80 -15 10.5 +5.7
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.9 80 -15 15.1 +10.4
GXG Global X MSCI Colombia ETF 0.9 62 3 17.1 +12.3
SCZ iShares MSCI EAFE Small-Cap ETF 0.9 40 25 7.4 +2.6
ISCF iShares International SmallCap Equity Factor ETF 0.9 23 42 8.7 +3.9
FNDC Schwab Fundamental International Small Co. Index ETF 0.9 39 26 6.2 +1.4
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.8 29 36 8.9 +4.2
GMET VanEck Green Metals ETF 0.8 63 2 10.7 +5.9
IWN iShares Russell 2000 Value ETF 0.8 24 41 8.1 +3.4
VTWV Vanguard Russell 2000 Value ETF 0.8 15 50 8.1 +3.4
TUR iShares MSCI Turkey ETF 0.7 58 7 20.8 +16.1
CARZ First Trust NASDAQ Global Auto Index Fund 0.7 70 -5 6.0 +1.3
DFIC Dimensional International Core Equity 2 ETF 0.7 23 42 7.8 +3.1
AVDE Avantis International Equity ETF 0.7 23 42 7.9 +3.1
VAW Vanguard Materials ETF 0.6 10 55 6.5 +1.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.6 30 35 8.4 +3.6
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.6 90 -25 8.1 +3.3
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.5 80 -15 5.1 +0.3
DFSI Dimensional International Sustainability Core 1 ETF 0.5 24 41 6.6 +1.9
FMAT Fidelity MSCI Materials Index ETF 0.5 8 57 6.5 +1.7
FYX First Trust Small Cap Core AlphaDEX Fund 0.5 61 4 6.6 +1.8
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.5 72 -7 -0.9 -5.6
AVSD Avantis Responsible International Equity ETF 0.5 23 42 5.9 +1.1
EPU iShares MSCI Peru and Global Exposure ETF 0.5 59 6 7.8 +3.1
OBOR KraneShares MSCI One Belt One Road Index ETF 0.5 79 -14 8.9 +4.1
GVLU Gotham 1000 Value ETF 0.4 50 15 9.1 +4.4
ISMD Inspire Small/Mid Cap ETF 0.4 54 11 6.1 +1.4
DLS WisdomTree International SmallCap Dividend Fund 0.4 58 7 8.8 +4.0
DFAT Dimensional U.S. Targeted Value ETF 0.4 28 37 10.0 +5.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.4 39 26 6.7 +1.9
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.4 45 20 4.4 -0.4
IWM iShares Russell 2000 ETF 0.4 19 46 4.7 -0.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.4 70 -5 7.9 +3.2
AVIV Avantis International Large Cap Value ETF 0.4 25 40 9.1 +4.4
VTWO Vanguard Russell 2000 ETF 0.4 10 55 4.7 -0.0
VFVA Vanguard U.S. Value Factor ETF 0.4 13 52 11.5 +6.7
IGE iShares North American Natural Resources ETF 0.4 41 24 8.1 +3.4
IDEV iShares Core MSCI International Developed Markets ETF 0.4 4 61 7.3 +2.5
FESM Fidelity Enhanced Small Cap ETF 0.3 28 37 8.1 +3.3
STXK Strive Small-Cap ETF 0.3 18 47 6.4 +1.7
VIDI Vident International Equity Strategy ETF 0.3 61 4 11.3 +6.5
DFAI Dimensional International Core Equity Market ETF 0.3 18 47 7.5 +2.7
IPAC iShares Core MSCI Pacific ETF 0.3 9 56 7.0 +2.2
IEUS iShares MSCI Europe Small-Cap ETF 0.3 42 23 7.4 +2.6
BKSE BNY Mellon US Small Cap Core Equity ETF 0.3 4 61 6.3 +1.6
RSSL Global X Russell 2000 ETF 0.3 8 57 4.7 -0.1
VPL Vanguard FTSE Pacific ETF 0.3 8 57 7.5 +2.8
EWX SPDR S&P Emerging Markets Small Cap ETF 0.3 65 0 8.2 +3.5
IXUS iShares Core MSCI Total International Stock ETF 0.3 7 58 8.2 +3.4
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 26 14.0 +9.3
VSGX Vanguard ESG International Stock ETF 0.3 12 53 8.0 +3.2
SCHA Schwab U.S. Small-Cap ETF 0.2 4 61 6.5 +1.7
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.2 9 56 4.7 -0.1
VBR Vanguard Small Cap Value ETF 0.2 7 58 9.4 +4.6
VEA Vanguard FTSE Developed Markets ETF 0.2 5 60 7.5 +2.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.2 64 1 2.3 -2.5
DFAS Dimensional U.S. Small Cap ETF 0.2 26 39 6.8 +2.0
DES WisdomTree U.S. SmallCap Dividend Fund 0.2 38 27 9.6 +4.8
ISCG iShares Morningstar Small-Cap Growth ETF 0.2 6 59 2.9 -1.9
VXUS Vanguard Total International Stock ETF 0.2 7 58 8.2 +3.5
IDMO Invesco S&P International Developed Momentum ETF 0.2 25 40 5.5 +0.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 56 6.1 +1.3
ISCB iShares Morningstar Small-Cap ETF 0.2 4 61 6.3 +1.6
DFSV Dimensional US Small Cap Value ETF 0.2 31 34 10.8 +6.1
ISCV iShares Morningstar Small Cap Value ETF 0.2 6 59 9.7 +4.9
EES WisdomTree U.S. SmallCap Fund 0.2 38 27 9.3 +4.6
FNDA Schwab Fundamental US Small Co. Index ETF 0.2 25 40 8.2 +3.4
QINT American Century Quality Diversified International ETF 0.2 39 26 7.6 +2.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.2 39 26 6.9 +2.2
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.1 17 48 6.1 +1.3
VB Vanguard Small-Cap ETF 0.1 5 60 6.3 +1.6
IEFA iShares Core MSCI EAFE ETF 0.1 7 58 7.3 +2.5
DFE WisdomTree Europe SmallCap Dividend Fund 0.1 58 7 8.2 +3.4
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.1 58 7 9.9 +5.2
VXF Vanguard Extended Market ETF 0.1 6 59 5.0 +0.2
XCNY SPDR S&P Emerging Markets ex-China ETF 0.1 15 50 7.5 +2.7
VFMO Vanguard U.S. Momentum Factor ETF 0.1 13 52 3.2 -1.6
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.1 47 18 9.8 +5.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 62 7.4 +2.6
DIHP Dimensional International High Profitability ETF 0.1 29 36 7.3 +2.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.1 38 27 9.9 +5.1
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 33 6.1 +1.3
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 0.1 7 58 6.3 +1.6
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 -10 6.8 +2.1
DFEV Dimensional Emerging Markets Value ETF 0.1 43 22 14.0 +9.2
VT Vanguard Total World Stock ETF 0.1 7 58 6.2 +1.4
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.1 39 26 6.1 +1.3
VWO Vanguard FTSE Emerging Markets ETF 0.1 8 57 10.9 +6.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 45 6.1 +1.3
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 56 10.8 +6.1
FELV Fidelity Enhanced Large Cap Value ETF 0.1 18 47 6.9 +2.1
DFAE Dimensional Emerging Core Equity Market ETF 0.1 35 30 10.0 +5.3
AVEM Avantis Emerging Markets Equity ETF 0.1 33 32 9.4 +4.7
FRDM Freedom 100 Emerging Markets ETF 0.0 49 16 8.8 +4.0
DFUV Dimensional US Marketwide Value ETF 0.0 22 43 8.0 +3.2
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 48 5.8 +1.0
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 58 10.8 +6.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 25 7.7 +2.9
DWM WisdomTree International Equity Fund 0.0 48 17 7.7 +2.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 6 12.2 +7.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.0 15 50 8.5 +3.7
IEUR iShares Core MSCI Europe ETF 0.0 11 54 7.4 +2.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 20 9.2 +4.4
DCOR Dimensional US Core Equity 1 ETF 0.0 14 51 5.6 +0.8
SCHE Schwab Emerging Markets Equity ETF 0.0 11 54 11.5 +6.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 50 10.7 +5.9
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 47 5.6 +0.8
EBI Longview Advantage ETF 0.0 35 30 6.9 +2.1
AVUS Avantis U.S. Equity ETF 0.0 15 50 6.1 +1.3
FLAX Franklin FTSE Asia Ex Japan ETF 0.0 19 46 9.8 +5.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.0 32 33 9.5 +4.7
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 56 4.9 +0.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.0 41 24 9.4 +4.7
IWV iShares Russell 3000 ETF 0.0 20 45 5.0 +0.2
VTHR Vanguard Russell 3000 ETF 0.0 10 55 5.1 +0.3
DFUS Dimensional U.S. Equity ETF 0.0 9 56 5.1 +0.3
DFAU Dimensional US Core Equity Market ETF 0.0 12 53 5.3 +0.5
GMF SPDR S&P Emerging Asia Pacific ETF 0.0 49 16 9.9 +5.1
SCHB Schwab U.S. Broad Market ETF 0.0 3 62 5.2 +0.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 62 5.1 +0.4
VTI Vanguard Total Stock Market ETF 0.0 3 62 5.1 +0.3
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 40 6.0 +1.2
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 40 7.4 +2.7
DTD WisdomTree U.S. Total Dividend Fund 0.0 28 37 6.5 +1.7
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 44 4.0 -0.8
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 16 10.5 +5.7
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 54 10.4 +5.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 29 10.2 +5.5
VGK Vanguard FTSE Europe ETF 0.0 11 54 7.4 +2.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 8 57 8.4 +3.6
SPEU SPDR Portfolio Europe ETF 0.0 7 58 7.4 +2.7
DFIV Dimensional International Value ETF 0.0 27 38 10.2 +5.5
AVES Avantis Emerging Markets Value ETF 0.0 36 29 12.0 +7.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 47 8.0 +3.3
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 0.0 85 -20 10.5 +5.7

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 10.1 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.8 %
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.