For buyers searching for momentum, World X Copper Miners ETF COPX might be an acceptable decide. The fund simply hit a 52-week excessive and is up 214.7% from its 52-week low worth of $13.27/share.
Let’s check out the fund and its near-term outlook to achieve an perception into the place it may be headed:
COPX in Focus
The fund seeks to supply funding outcomes that correspond typically to the worth and yield efficiency, earlier than charges and bills, of the Solactive World Copper Miners Whole Return Index. It has AUM of $924.6 million and expenses 65 foundation factors (bps) in annual charges.
Why the Transfer?
Copper has lately risen to its highest stage in practically a decade on rising demand as world manufacturing ranges are recovering. Furthermore, it’s anticipated that publish the COVID-19 disaster, demand will outstrip near-term provide. The constrained provide circumstances are anticipated to stay provided that environmental insurance policies are driving using copper together with growing investments in renewable vitality and digital automobiles, which is able to want massive volumes of the uncooked materials. That is making funds like COPX a pretty funding possibility.
Extra Features Forward?
It looks as if the fund will stay sturdy, with a constructive weighted alpha of 182.56, which supplies cues of additional rally.
Need key ETF information delivered straight to your inbox?
Zacks’ free Fund Publication will transient you on prime information and evaluation, in addition to top-performing ETFs, every week. Get it free>>
Need the most recent suggestions from Zacks Funding Analysis? As we speak, you’ll be able to obtain 7 Finest Shares for the Subsequent 30 Days. Click on to get this free report
GLBL-X COPPER (COPX): ETF Analysis Stories
To learn this text on Zacks.com click on right here.
Zacks Funding Analysis
Need the most recent suggestions from Zacks Funding Analysis? As we speak, you’ll be able to obtain 7 Finest Shares for the Subsequent 30 Days. Click on to get this free report
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.