Gold Up For Another Week Approaching All-Time High, Gold Funds Pop - ETF Winners And Losers: Mid-Cap Returns
Portfolio Pulse from Johnny Rice
Mid-cap ETFs with AUM between $2 billion and $10 billion were screened for changes in net assets. Winners include abrdn Physical Gold Shares ETF (SGOL) and SPDR Gold MiniShares Trust (GLDM), both up 2.71% and 2.61% respectively. Losers include Global X Lithium & Battery Tech ETF (LIT) and Vanguard Extended Duration Treasury ETF (EDV), down 7.50% and 7.48% respectively. LIT's largest holdings are Albemarle Corporation (ALB) and Tesla, Inc. (TSLA).
October 24, 2023 | 10:30 am
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POSITIVE IMPACT
SPDR Gold MiniShares Trust (GLDM) was up 2.61% over the trailing week.
The increase in GLDM's price is likely due to the rising price of gold. As the ETF provides exposure to gold, its price is directly linked to the spot price of gold.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
abrdn Physical Gold Shares ETF (SGOL) was up 2.71% on the week.
The increase in SGOL's price is likely due to the rising price of gold. As the ETF holds real gold bullion, its price is directly linked to the spot price of gold.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Vanguard Extended Duration Treasury ETF (EDV) is down 7.48% over the trailing week.
The decrease in EDV's price is likely due to the recent downturn in the market for long-dated US treasuries. As the ETF provides exposure to these treasuries, its price is directly linked to their performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Global X Lithium & Battery Tech ETF (LIT) is down 7.50% over the trailing week.
The decrease in LIT's price is likely due to the recent downturn in the lithium industry. As the ETF provides exposure to companies involved in the lithium industry, its price is directly linked to the performance of these companies.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100