Allied Gold gets Mali’s go-ahead for new project near Sadiola
Known as Korali-Sud, the new project will be managed under Mali’s new mining code.
31.Dec.2023 - 31.Dec.2024
228 ETFs
Metal ETFs, Miners ETFs, Metal and Miners Hedged & Leveraged ETFsTotal Assets (AUM) ~ $330.7 B USD
Toronto, Ontario--(Newsfile Corp. - January 8, 2025) - Total assets for the World's 228 Metal & Mining ETFs finished 2024 at USD $330.7 B. This is an increase of +13.1% from the 2023-year end close of USD $292.4 B. This growth in Metal & Mining ETF assets was driven principally by gains in Gold Metal ETFs which still make up more than ~70% of all Metal & Mining ETF assets worldwide.
2024 witnessed the issuance of 5 new Metal & Mining ETFs. 2 ETFs were retired and delisted. The biggest percentage gains for Shares Outstanding, and therefore the biggest relative gains in 'new' shareholders, were calculated for: VanEck Uranium and Nuclear ETF, Franklin Responsibly Sourced Gold ETF and for all 6 of the India listed Silver ETFs.
Performance Leaders, 2024
Gold price gains were the key driver for ETF performance leaders (top 3 across 228 ETFs) in 2024.
| 2024 | Ticker | Ccy. | |||
| Leveraged | Gold | WisdomTree Gold Daily Leveraged Long 3X | +60.5% | 3GOL | USD |
| Leveraged | Gold | Deutsche Bank Gold Double Long | +53.2% | DGP | USD |
| Leveraged | Miners | BetaPro Canadian Gold Miners Bull 2X | +49.0% | HGU | CAD |
Performance Laggards, 2024
The continued selloff in battery metals over 2024 reflected heavily on underlying Energy Transition ETFs. 2 of the 3 worst Metal & Mining ETF performers were lithium producer ETFs.
| 2024 | Ticker | Ccy. | |||
| Leveraged | Gold | WisdomTree Gold Daily Leveraged Short -3X | -47.6% | 3GOS | USD |
| Miners | Energy Transition | Sprott Lithium Miners ETF | -47.0% | LITP | USD |
| Miners | Energy Transition | Global X Lithium Producers Index | -45.0% | HLIT | CAD |
Unhedged Gold ETF Performance, 2024
In 2024, currency depreciation was again the driver of outperformance for Turkish Lira denominated gold ETF QNB Finans Portföy Gold Participation ETF , Canadian Dollar denominated Royal Canadian Mint Gold ETR and Japanese Yen denominated Nomura Japan Gold-Price Linked ETF. All three outperformed SPDR Gold Shares, measured in their listing currencies, as a result of depreciation in their listing currencies against USD over 2024.
| 2024 | Ticker | Ccy. | |||
| Metal | Gold | QNB Finans Portföy Gold Participation ETF | +49.1% | GLDTR.F | TRY |
| Metal | Gold | Royal Canadian Mint Gold ETR | +44.8% | MNT | CAD |
| Metal | Gold | Nomura Japan Gold-Price Linked ETF | +38.8% | 1328 | JPY |
New Issues ETFs 2024
| Inception | Assets USD | Ccy. | Ticker | Exchange | |
| 11.Jan.2024 | $51,595,964 | China AMC Gold Industry Equity ETF | CNY | 159562 | XSHE |
| 21.Mar.2024 | $23,621,000 | Sprott Copper Miners ETF | USD | COPP | XNAS |
| 31.May.2024 | $74,049,867 | Sprott Physical Copper Trust | USD | COP.UN | XTSE |
| 1.Jul.2024 | $46,536,466 | Dynamic Active Global Gold ETF | CAD | DXAU | XTSE |
| 1.Jul.2024 | $17,908,177 | Dynamic Active Mining Opportunities ETF | CAD | DXMO | XTSE |
Five (5) new Metal & Mining ETFs were launched in 2024. 4 of these ETFs were launched by Canada headquartered asset management companies with natural resource expertise and capabilities.
China Asset Management Corporation (China AMC) launched a new Chinese Yuan (Chinese: 角; symbol: ¥; currency code: CNY) listed gold company investment product for Chinese domestic investors China AMC Gold Industry Equity ETF. This ETF invests in a range of international gold producers including Zijin Mining Group Co. Ltd. (SHA: 601899), Newmont Corporation (NYSE: NEM) and Barrick Gold Corporation (TSX: ABX). At least 6 further China based asset management companies have applied for permission to create new 'Gold Industry Equity' ETFs.
Sprott Asset Management LP (Canada) and Sprott Asset Management USA each launched new copper products during the first half of 2024. These new issues, Sprott Copper Miners ETF and Sprott Physical Copper Trust respectively, reflect a growing recognition that copper requirements for the energy transition provide current investment opportunities.
Dynamic Funds (1832 Asset Management LP) launched two new actively managed mining company ETF products on July 1st, 2024. Dynamic Active Global Gold ETF and Dynamic Active Mining Opportunities ETF reflect a trend towards adding value by application of active management practices to the ETF company holding format.
Delisted ETFs 2024
| Inception | Assets USD | Ccy. | Ticker | Exchange | |
| 18.Mar.2022 | $692,000 | Dacheng Shanghai Gold ETF | CNY | 159833 | XSHG |
| 6.Jun.2018 | $44.233,000 | iShares Gold Strategy ETF | USD | IAUF | CBOE |
The smallest unhedged Gold ETF, as measured by assets under management (AUM), delisted in the first half of 2024. Dacheng Shanghai Gold ETF began trading in March 2022 and was closed in H1.2024. iShares Gold Strategy ETF closed during the second half of 2024 (H2.2024).
Silver ETFs 2024
At year end 2024 there are 19 Silver ETFs listed on exchanges worldwide. Total assets exceed USD $25.8 B. The first Silver ETF, iShares Silver Trust, was launched in April 2006. By the end of 2012 there were 13 Silver ETFs listed on exchanges internationally. After a 9-year hiatus for Silver ETF issuance, during 2022 and 2023 6 new Silver ETFs were launched, and all 6 were listed on exchanges in India.
During H2.2024 all 6 Silver ETFs trading on Indian exchanges witnessed significant increases in the number of Shares Outstanding. This represents new buying of units by India based silver investors. During H2.2024 India passed Switzerland in AUM for Silver ETF assets (USD $1.7 B vs $1.4 B) and during 2025 India is expected to surpass the UK (USD $1.74 B) in the realm of assets held (AUM) in Silver ETFs.
Rapid growth in Silver ETF assets on Indian exchanges is supporting evidence of a trend of increasing investment in precious metals in eastern capital markets. Similar analysis for Gold ETFs also reflects a transfer of precious metal holdings from western to eastern financial markets.
World Metal & Mining ETFs - 2024 vs. 2023
| Avg. ETF Size | # ETFs | 31.Dec.24 | % chg. | 31.Dec.23 | |
| $USD M | METAL ETFs | ||||
| $3,434 | Gold ETFs | 70 | $237,299,897,093 | 20.0% | $197,789,922,640 |
| $1,340 | Silver ETFs | 19 | $25,055,625,061 | 43.1% | $17,515,149,495 |
| $1,289 | Precious Metal ETFs | 5 | $6,343,357,787 | 16.5% | $5,446,724,646 |
| $2,133 | Energy & Transition Metal ETFs | 3 | $6,252,946,698 | 14.7% | $5,453,040,449 |
| $207 | Platinum Group Metal ETFs | 13 | $2,669,538,357 | 39.8% | $1,909,426,857 |
| $198 | Base Metal ETFs | 11 | $2,196,965,871 | -8.0% | $2,387,881,562 |
| 121 | $279,818,330,867 | 21.4% | $230,502,145,649 | ||
| $USD M | MINERS ETFs | ||||
| $1,169 | Precious Metal Miners ETFs | 22 | $24,759,028,471 | 21.1% | $20,444,312,066 |
| $463 | Energy & Transition Metal Miners ETFs | 19 | $8,506,195,114 | 4.8% | $8,120,339,101 |
| $762 | Base Metal Miners ETFs | 8 | $6,044,367,522 | 5.2% | $5,747,442,660 |
| 49 | $39,309,591,107 | 14.6% | $34,312,093,827 | ||
| $USD M | HEDGED & LEVERAGED METAL ETFs | ||||
| $400 | Currency Hedged Metal ETFs | 22 | $8,770,198,534 | -65.0% | $25,055,901,206 |
| $156 | Miners Leveraged ETFs | 8 | $1,192,957,821 | -14.0% | $1,387,216,586 |
| $126 | Silver Leveraged ETFs | 7 | $855,848,955 | 45.9% | $586,667,057 |
| $57 | Gold Leveraged ETFs | 13 | $725,097,848 | 42.2% | $510,066,440 |
| $4 | Base Metal Leveraged ETFs | 6 | $24,690,223 | -1.6% | $25,091,643 |
| $6 | Platinum Group Metal Leveraged ETFs | 2 | $11,537,121 | -26.1% | $15,601,319 |
| 58 | $11,580,320,948 | -58.0% | $27,580,544,251 | ||
| 228 | $330,708,242,922 | 13.1% | $292,394,783,727 |
ETF Assets vs. Managed Funds, Dec.2024
At the end of two decades of extraordinary growth for Metal & Mining ETF assets, Metal & Mining ETF assets now hold more than 12 times (~12X) assets held in Specialist Managed Funds (AUM). This trend has resulted in dramatic mispricing for the most junior end of the market and material curtailment in exploration spending (particularly for gold and copper) traditionally supported by investment dollars which are now directed into Metal & Mining ETFs.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5845/236438_1.jpg
Source: MineralFunds.com
| USD | 1.00 | |
| EUR | 0.93 | Euro (symbol: € currency code: EUR ) / per $USD |
| CHF | 0.90 | Swiss Franc (symbol: Fr currency code: CHF ) / per $USD |
| JPY | 160.49 | Japanese Yen (Japanese: 円, symbol: ¥ currency code: JPY) / per $USD |
| CNY | 7.27 | Chinese Yuan (Chinese: 角; symbol: ¥; currency code: CNY) / per $USD |
| ZAR | 18.19 | South African Rand (symbol: R currency code: ZAR ) / per $USD |
| INR | 83.33 | Indian Rupee (symbol; ₹ currency code: INR) / per $USD |
| CAD | 1.37 | Canadian Dollar (symbol: $ currency code: CAD ) / per $USD |
| HKD | 7.81 | Hong Kong Dollar (Chinese: 港元 symbol: HK$; currency code: HKD) / per $USD |
| TRY | 32.70 | Turkish Lira (Turkish: Türk lirası; symbol: ₺ currency code: TRY) / per $USD |
| MYR | 4.72 | Malaysian Ringgit (pl. ringgit; symbol: RM currency code: MYR) / per $USD |
Reported by: Christopher J. Berlet BSc, CFA Supported By: Khadijah Samnani, Analyst
For further information please contact:(416) 525 - 6869[email protected]
Live real-time prices and a complete list of ETFs, ETCs, ETRs and Exchange Traded Trusts traded on all Exchanges and across all transaction currencies can be reviewed at: https://mineralfunds.com
Data Fields Including: ISIN, Bloomberg, Reuters, SEDOL, LEI, WKN, CUSIP numbers and symbols, Management Fees, Total MERs, Web Pages, All Exchange Listings and Outstanding Shares for ETFs, ETCs, ETRs and Exchange Traded Trusts are available to Substack subscribers only.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236438
