Copper gains with EVs

Article Excerpt

GLOBAL X COPPER MINERS ETF, $39.66, s a buy. The ETF (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) lets you track the Solactive Global Copper Miners Index, with 38 global mining and exploration firms. It started up in April 2010. Canadian firms make up 34.4% of the ETF’s holdings. They also include companies based in the U.S. (9.9%), Japan (7.0%), Australia (7.9%), China (7.7%), and the U.K. (6.1%). The fund charges an acceptable 0.65% MER. The ETF’s top holdings include First Quantum, 5.7%; Lundin Mining, 5.7%; Ivanhoe Mines, 5.7%; Southern Copper, 5.4%; Antofagasta plc, 5.3%; Polska Miedz SA, 5.2%; Freeport-McMoRan, 5.1%; and Grupo Mexico, 5.1%. Investors benefit from copper’s strong long-term prospects. That reflects optimism about a steady global recovery. The rising demand for electric-powered cars—they contain about 80% more copper than gasoline-powered vehicles—is another driver of growth. This fund is a buy. buy…