#5 - iShares MSCI Global Gold Miners ETF (NASDAQ:RING)
Gold has been one of the best-performing asset classes in 2024. One way to invest in this trend is with a precious metals ETF. And the iShares MSCI Global Gold Miners ETF (NASDAQ: RING) is one of the solid choices for investors to consider.
The performance of the yellow metal is part of the ongoing uncertainty in the market. After all, gold tends to be an inflation hedge, but the rate of inflation, while sticky, is moving lower. On the other hand, the sharp move in gold has also correlated with expectations of lower interest rates, which devalues the U.S. dollar.
All of this points to continued strength in gold, and it may be time for gold mining stocks to catch up. The fund’s largest holding is that of Newmont Corp. (NYSE: NEM), which has more than 21% of the fund’s weighting. And the fund has an attractive expense ratio of just 0.39%.
About iShares MSCI Global Gold Miners ETF
The iShares MSCI Global Gold Miners ETF (RING) is an exchange-traded fund that is based on the MSCI ACWI Select Gold Miners IMI index, a market-cap-weighted index of companies that generate revenue primarily from gold mining. RING was launched on Jan 31, 2012 and is managed by BlackRock.
- Current Price
- $33.11
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $32.84 (0.8% Downside)
