GLOBAL X SILVER MINERS ETF $14.40 (New York symbol SIL; buy or sell through brokers) tracks the Solactive Global Silver Miners Index.
This index includes between 20 and 40 international companies that mine, refine or explore for silver. Germany-based Structured Solutions AG developed this index.
Global X Silver Miners ETF is a recent new issue: it began trading on April 19, 2010. We generally advise against buying new issues. That’s because they come to market when it’s a good time for the company and its insiders to sell. This may not be, and often isn’t, a good time for you to buy.
Although Global X Silver Miners has come out in response to a hot theme — in this case, strong investor interest in precious-metals stocks — it holds only well-established silver miners. That takes away the new-issue risk.
Canadian-based companies make up 58% of the fund’s holdings, but it also includes companies based in Mexico (24%), the U.S. (10%), Peru (4%) and Russia (4%). The fund’s MER is 0.65%.
The exchange-traded fund’s top-ten holdings are Silver Wheaton Corp. at 13.9%; Pan American Silver, 12.3%; Fresnillo plc, 11.2%; Industrias Penoles SAB de CV, 10.3%; Silvercorp Minerals, 5.2%; Coeur d’Alene Mines, 5.0%; Hecla Mining, 4.9%; Silver Standard Resources, 4.8%; Gammon Gold, 4.6%; and Polimetall OAO, 4.0%.
If you want to invest in a silver fund, the Global X Silver Miners ETF is a buy for aggressive investors.
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