Green Metal Miners ETF - Global X ETFs - Australia


Green Metal Miners ETF

Reasons to Consider GMTL

Support Clean Energy

Structural tailwinds which are backed by government and corporate clean energy transition initiatives.

Critical Resources Exposure

Diversified exposure to the materials sector with strategic allocations to green metals such as lithium, copper, nickel and cobalt.

Growth Potential

Surging demand for green metals and impending supply crunches are set to spark potential growth.

Product Information As of 8 Dec 2023

Inception Date 24 Oct 2022
Management Costs (% p.a.) 0.69
Currency Hedged No
Domicile Australia
Legal Form Managed Investment Scheme
SMSF Eligible Yes

NAV Information As of 8 Dec 2023

NAV/Unit (A$) 7.25030000
Currency (NAV) AUD
Shares Outstanding 350,126
AUM (A$) 2,538,507.83

Product Summary

Global X Green Metal Miners ETF (GMTL) provides exposure to global companies which produce critical metals for clean energy infrastructure and technologies, including lithium, copper, nickel and cobalt.

Product Objective

Global X Green Metal Miners ETF (GMTL) seeks investment results that correspond generally to the performance, before fees and expenses, of the BITA Global Green Energy Metals Index.

Trading Details

Ticker GMTL
Bloomberg Code GMTL AU Equity
ISIN AU0000233264
Trading Hours 10:00AM – 4:00PM

Management & Administration

Issuer Global X Management (AUS) Limited
Custodian The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch
Registrar Computershare Investor Services Pty Limited

Benchmark Information

Provider BITA GmbH

Distributions As of 31 Oct 2023

12-Month Yield 1.26%
12-Month Franking Level 0.00%
Distribution Frequency Annually
Distribution History View

Performance Table As of 8 Dec 2023

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month -1.01% -0.93% -0.08% 0.08%
3 Months -15.55% -15.57% 0.01% 0.14%
1 Year -30.74% -30.45% -0.29% 0.31%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. -24.22% -23.73% -0.49% 1.29%

Top Holdings As of 11 Dec 2023

Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
7.60 FREEPORT-MCMORAN 2352118 38.15 3,333 193,052
7.06 ERAMET 4017017 71.10 1,542 179,248
5.28 ALBEMARLE CORP 2046853 127.99 690 134,082
4.23 ZIJIN MINING-H 6725299 11.64 48,000 108,617
3.81 BOLIDEN AB BPYTZ57 295.95 2,250 96,677
3.72 NORSK HYDRO ASA B11HK39 62.28 10,872 94,476
3.68 TIANQI LITHIUM-A BD5CKH8 55.60 8,400 98,763
3.68 QUIMICA Y-SP ADR 2771122 51.43 1,196 93,388
3.24 SUMITOMO MET MIN 6858849 4,081.00 1,900 81,464
3.20 PILBARA MINERALS B2368L5 3.71 22,794 84,566
3.17 ANTOFAGASTA PLC 0045614 15.14 2,795 80,591
2.83 CHINA NORTHERN-A BP3R370 19.62 17,600 73,022
2.66 IVANHOE MINES LT BD73C40 12.64 4,782 67,560
2.61 GANFENG LITHIU-A BD5CB19 42.15 7,700 68,633
2.60 UMICORE BF44466 24.10 1,673 65,919
2.56 GUANGZHOU TINC-A BD5LR63 23.33 13,500 66,603
2.42 ZHEJIANG HUAYO-A BFF5BV2 32.15 9,300 63,227
2.38 LUNDIN MINING CO 2866857 9.89 5,464 60,401
2.29 ALUMINUM CORP-A BP3R4D3 5.23 53,700 59,391
2.21 ALCOA CORP BYNF418 25.02 1,480 56,220
2.13 FIRST QUANTUM 2347608 10.39 4,652 54,024
1.89 LYNAS RARE EARTH 6121176 6.39 7,619 48,685
1.79 ALLKEM LTD BLSNC78 9.16 4,883 44,728
1.78 IGO LTD 6439567 8.18 5,653 46,242
1.73 GEM CO LTD-A BD5CFW8 5.55 38,100 44,716
1.56 CAPSTONE COPPER BMY5XY9 6.08 5,818 39,538
1.39 SIBANYE-STI-ADR BL8F9X9 4.83 4,799 35,192
1.39 LIVENT CORP BD9PM00 15.52 1,493 35,180
1.22 AURUBIS AG 5485527 76.20 249 31,021
1.20 MP MATERIALS COR BN15Y35 16.74 1,200 30,499
1.19 CHINA HONGQIAO B44ZV94 5.66 28,500 31,359
1.12 CHINA RARE EAR-A BFY8HG9 27.95 4,900 28,961
0.97 SICHUAN YAHUA-A BD5LSZ9 13.10 9,200 25,486
0.96 BEIJING EASPRI-A BD760M3 38.20 3,100 25,042
0.89 JIANGXI COPPER-A BP3R4R7 17.26 6,300 22,994
0.77 SHENGHE RESOUC-A BFYQHK7 10.27 9,200 19,980
0.77 JL MAG RARE-EA-A BKDQ8F5 18.95 4,820 19,315
0.72 SHENZHEN ZHONG-A BD5CLW0 4.35 20,100 18,490
0.61 ALUMINA LTD 6954985 0.81 19,927 16,141
0.56 BEIJING ZHONGK-A BD5CG69 10.41 6,600 14,529
0.36 YANTAI ZHENGHA-A BD5LZH0 11.50 3,800 9,241
0.31 CENTURY ALUMINUM 2186254 7.90 664 7,964
0.23 INNUOVO TECHNO-A BD73KR9 6.11 4,600 5,943
0.20 HUBEI ZHENHUA CH BMF7MF8 9.90 2,400 5,024
0.19 CHALICE MINING L B0ZGW28 1.71 2,905 4,953
0.19 CHENGDU GALAXY-A BP91N21 17.19 1,300 4,726
0.17 GLOBAL ATOMIC CO BF11BK3 2.49 1,517 4,222
0.13 NEXA RESOURCES BF02YN1 5.91 375 3,365
0.05 LI-CYCLE HOLDING BKP4ZD4 0.77 1,014 1,191
0.00 COREMAX B4TV1T7 79.00 0 0
Holdings are subject to change.

Sector Breakdown As of 11 Dec 2023

Sector Weight (%)
Materials 91.1
Industrials 5.8
Information Technology 0.8
Other/Cash 2.3

Country Breakdown As of 11 Dec 2023

Country Weight (%)
China 31.3
United States 18.0
Canada 9.0
Australia 7.6
France 7.1
Chile 6.9
Sweden 3.8
Norway 3.7
Japan 3.2
Belgium 2.6
Malaysia 1.9
Other/Cash 4.9



  • What are green metals?

    Green metals refer to the minerals needed for the clean energy transition. According to the International Energy Agency, they are: copper, lithium, cobalt, nickel, zinc, aluminium, rare earths, and the platinum group metals. Each mineral is used extensively in the production, transmission, and storage of renewable energy.

    To give some examples, copper and aluminium are required to expand the grid, allowing the transmission of renewable electricity. Lithium, cobalt, and nickel are required for batteries. Zinc is required for galvanising steel, used in offshore wind turbines especially. And rare earth elements are required to build permanent magnet motors, which are used in electric cars.

    *IEA (2021), The Role of Critical Minerals in Clean Energy Transitions, IEA, Paris
  • Why invest in green metals?

    Green metals will be instrumental in helping worldwide efforts to fight global warming. To meet these targets, a seismic shift to renewables is starting to take place. Revenue from green metal mining and production is set to outpace coal well before 2040, according to the IEA. This owes to the volume of these commodities needed to produce cleaner power.

    • It only takes 22 kilograms of copper to make a conventional car, whereas EVs need 53 kilograms alongside other minerals such as lithium and cobalt.
    • Thermal power plants – be they coal fired or gas turbine – require 1 – 1.5 tonnes of copper for every megawatt of electricity they produce. By contrast, an offshore wind farm requires 8 tonnes to produce this output.

    As demand increases for green metals, supply will contract – effectively driving up commodity prices.

    *IEA (2021), The Role of Critical Minerals in Clean Energy Transitions, IEA, Paris
  • How does the ESG screen GMTL uses work?

    Our index provider BITA uses data from Arabesque Partners, an Anglo-German investment management and research firm, to build its ESG screen. Arabesque uses proprietary research to score companies based on their compliance with the four core principles of the United Nations Global Compact. The four principles are: human rights, labour rights, the environment and anti-corruption.

    Each of the four principles are scored separately out of 100 and weighted in such a way that poor performance against any one principle results in a poor overall score (i.e., it cannot be offset by strong scores against other principles). Arabesque uses information from NGO campaigns, public news websites, industry reports, corporate disclosures and other sources to grade companies.

    Companies with overall scores below 40, which is deemed to represent a poor performance against any of the four UNGC principles, are ineligible for the index.
  • How are companies weighted within GMTL?

    Companies in the index are weighted based on market capitalisation. However, the index implements a series of caps to ensure diversification and adequate liquidity.

    As part of this, the index includes an absolute weight cap of 7% on each company. This prevents any company on index rebalance day from taking any more than 7% of the total index weight. The cap is in place to prevent any single company becoming too influential in determining index performance.

    The index also includes a cumulative weight cap, preventing companies that take more than 4.5% of the index collectively taking more than 40% of the total index weight on rebalance day. This prevents any small group of companies becoming too influential in determining performance.
    In addition to these outright weight caps, the index includes a liquidity cap. The liquidity cap prevents any company’s weight in the index being so large that, assuming a $25 million daily inflow, funds tracking the index would be required to buy more than 25% of a company’s 90-day average daily traded value.

    Where any stock exceeds these caps, its excess weight is redistributed proportionally among the rest of the uncapped securities at rebalance according to a formula. Rebalancing occurs semi-annually
  • What type of miners is GMTL exposed to?

    The index identifies companies that make the majority of their gross revenue from mining, processing or trading green metals (copper, lithium, cobalt, nickel, zinc, aluminium, rare earths, and the platinum group metals). In order to ensure diversification, the index limits each metal to having 10 miners, processers, or traders. This means, for example, that there cannot be more than 10 lithium miners or more than 10 copper miners in the index at any given time.

    As companies are required to meet a revenue purity threshold, the index favours more specialised miners. This means, for example that Rio Tinto, despite being among the world’s largest bauxite (aluminium) miners, does not feature in the index as the majority of its revenue comes from iron ore.

    Furthermore, GMTL does not intend to invest in coal miners and has employed an ESG screen to remove fossil fuel companies. This means for example that BHP, despite being one of the world’s largest copper miners, would not qualify for index inclusion presently due to its coal mining.
  • How can I use GMTL in a portfolio?

    We believe that GMTL can be used in a portfolio in three main ways.

    Firstly, it can be used to invest in the energy transition. As much of the demand growth for these metals comes from clean energy technology, these mining companies stand to benefit as the world moves away from fossil fuels.

    Second, it can be used to replace a conventional resources sector allocation in a portfolio. If investors with resource sector allocations believe that coal mining will be less prevalent in the future, or that seaborne iron ore may decline due to increased steel recycling volumes, for example, then GMTL may provide an alternative.

    Third, it can potentially be used as a way to trade the prices of copper, lithium and other energy transition metals. Mining companies share prices tend to be geared to the prices of the commodities that they mine.

Investments may go up or down in value and you may lose some or all of the amount invested. Past performance is not necessarily a guide to future performance. Any advice provided by Global X Management (AUS) Limited (“Global X”) is general advice and does not take into account your personal objectives, financial situation or needs. You should consult an independent investment adviser prior to making an investment in order to determine its suitability to your circumstances. This material may contain links to third party websites. Global X does not control and is not responsible for the information contained within third party websites. None of these links imply Global X’s support, endorsement or recommendation of any other company, product or service.

Global X Management (AUS) Limited ACN 150 433 828 AFSL No 466778

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