Last week GlobalX Funds launched the GlobalX Silver Miners ETF (NYSEArca:SIL), becoming the only ETF in the world tracking silver companies at this time.
I would have said the only ETF tracking silver miners, but since Silver Wheaton (NYSE:SLW) is one of its major holdings, that wouldn't have been completely accurate, although for the most part it is silver mining companies the new ETF tracks.
Along with Silver Wheaton there are 24 other stocks GlobalX Silver Miners ETF tracks, with the other three major ones being Pan American Silver (Nasdaq:PAAS), Mexican miner Industrias Penoles and Fresnillo, another Mexican-based silver mining company.
Together these four account for just under 50 percent of the ETF.
GlobalX Silver Miners ETF has an expense ratio of 0.65 percent.
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