Listed on the London Stock Exchange and Deutsche Börse Xetra, Global X Copper Miners UCITS ETF tracks the Solactive Global Copper Miners v2 index.
The launch follows Global X’s launch of seven new funds in Europe last week, which focused on topics such as cybersecurity and artificial intelligence.
Available for a total expense ratio of 0.65%, the fund currently owns 39 stocks globally, with companies in Canada, Australia and the United States making up the top three countries respectively.
Global X described copper as “a leading barometer for global economic health,” and argued that inflationary pressures and growing demand for electric vehicle adoption, clean energy and infrastructure spending would make increasingly valuable copper.
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Morgane Delledonne, European Research Director for Global X ETFs, said: “Copper is useful for a wide range of applications including construction, industrial machinery, transportation, power generation and electronics. . 2021 has turned out to be a transformational year for copper, and we have a strong long-term outlook for copper demand, driven by trends that may disrupt the global economy.
“By leveraging our expertise in commodity ETFs in the US market, Global X is delighted to provide European investors with a focused play on copper mining stocks with COPX. “