- Last Ratings Update:10/31/2014
- Price as of 10/31/2014 :$17.21
- Net Assets:$7,975.4 Million
- Peer Rank:28 of 40
- Investment Rating:E
We rate Market Vectors Gold Miners ETF at E. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a well below average total return. The fund invests approximately 100% of its assets in stocks and may be considered for investors seeking a Sector - Precious Metals strategy.
POSITIVES AND RISKS
Total return ranks well below peers over the last three years. The Market Vectors Gold Miners ETF has returned an annual rate of -8.95% since inception. More recently, the fund has generated a total return of -17.91% in the last five years, -34.04% in the last three years, and -27.87% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 4% of them. It has also outpaced 2% of its competitors on a three year basis and 3% of them over the last year for the period ending 10/31/2014. On a year to date basis, GDX has returned -18.55%.
Downside risk has been above average. GDX has a draw down risk of -71.51%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 36.5%. This fund has experienced excessive volatility in its monthly performance over the last 36 months. As of 10/31/2014, the fund was trading at a price of $17.21, which is 22.3% below its 52-week high of $22.16 and 1.9% above its 52-week low of $16.89.
High expense ratio hinders performance. On total assets of $7.98 billion, GDX maintains a high expense ratio compared to its Sector - Precious Metals peers of 0.53% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As GDX is an exchange traded fund, it has no front end or back end load.
The Market Vectors Gold Miners ETF is managed by Hao-Hung Liao at Van Eck Associates Corporation. This fund is one of 59 Van Eck Associates Corporation exchange-traded funds launched since 5/16/2006 that we track.
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