Gold Miner ETFs Once Again Outperform All Other Funds

gold-minerOver the past five trading days, the top two gold miner ETFs have once again outperformed all other exchange traded funds in the same period.

The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) and Market Vectors Gold Miners ETF (NYSE:GDX) led all U.S.-listed ETFs with 6.80% and 5.31% gains, respectively, in the past five trading sessions. The next closest fund in terms of performance over the period was EWZ, the Brazil ETF that also continues to fly higher this year.

From Bespoke:

After slipping slightly yesterday, gold rallied, and the top two spots were held by Junior Gold Miners and Gold Miners. The oil exposures also were up again as oil stayed above $40 a barrel. A number of Asian exposures struggled including Vietnam and Hong Kong. Brazil, Emerging Latin America, and Latin America all turned in strong performances. Construction and homebuilding exposures continued to perform poorly.

Gold mining stocks have soared this year amid higher commodity prices and rising margins. The current part of the cycle has been called the “sweet spot” for mining companies, but miners are reportedly still cutting costs and holding back on capex until the price rally proves its staying power.

The GDXJ fell $1.86 (-3.64%) to $49.29 per share on Friday, hurt by a better-than-expected jobs report. Still, the ETF that focuses on smaller-cap gold mining stocks has run up 156% year-to-date.


Meanwhile, the GDX fell $1.04 (-3.33%) to $30.17 per share, and is still up 120% this year.


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