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WIRE

Copper Miners ETF

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Reasons to Consider WIRE

Targeted Exposure

Significant exposure to global copper miners.

Future-Focused Megatrends

Structural tailwinds supported by global innovations in clean energy, electric vehicles and other forms of next-generation advancements.

Global Economic Growth

Pick and shovels approach to capturing potential growth as copper lends itself to numerous industries which power economic activity.

Product Information As of 12 Sep 2024

Inception Date 21 Nov 2022
Management Costs (% p.a.) 0.65%
Currency Hedged No
Domicile Australia
Legal Form Managed Investment Scheme
SMSF Eligible Yes

NAV Information As of 12 Sep 2024

NAV/Unit (A$) 12.08380000
Currency (NAV) AUD
Shares Outstanding 17,084,312
AUM (A$) 206,443,319.50
NAV History File View

Product Summary

WIRE provides access to a global basket of copper miners which stand to benefit from being a key part of the value chain facilitating growth in major areas of innovation such as technology, infrastructure and clean energy.

Product Objective

WIRE seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Copper Miners Total Return Index.

Trading Details

Ticker WIRE
Bloomberg Code WIRE AU Equity
ISIN AU0000249088
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

Benchmark Solactive Global Copper Miners Total Return Index
Provider Solactive AG
Ticker SOLGLOCO

Distributions As of 30 Aug 2024

12-Month Yield 2.65%
12-Month Franking Level 0.00%
Distribution Frequency Semi-Annually
Distribution History View

Performance Table As of 12 Sep 2024

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month -1.04% -0.98% -0.06% 0.77%
3 Months -10.45% -10.26% -0.19% 2.83%
1 Year 5.80% 6.74% -0.93% 3.61%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. 12.68% 13.85% -1.17% 4.01%

Top Holdings As of 13 Sep 2024

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
5.72 FIRST QUANTUM 2347608 16.60 648,831 11,838,284
5.43 KGHM 5263251 135.00 216,252 11,240,680
5.15 TECK RESOURCES-B 2879327 62.87 154,212 10,656,419
4.90 IVANHOE MINES LT BD73C40 17.39 530,518 10,140,268
4.83 BHP GROUP LTD 6144690 38.81 252,178 9,787,040
4.69 BOLIDEN AB BPYTZ57 287.90 233,052 9,721,050
4.58 SOUTHERN COPPER 2823777 98.00 64,794 9,489,371
4.43 FREEPORT-MCMORAN 2352118 41.81 146,914 9,179,525
4.42 ZIJIN MINING-H 6725299 13.96 3,279,464 8,767,942
4.40 GLENCORE PLC B4T3BW6 3.73 1,250,334 9,108,104
4.36 CAPSTONE COPPER BMY5XY9 8.96 915,964 9,020,612
4.30 ANTOFAGASTA PLC 0045614 17.26 264,223 8,912,245
4.24 LUNDIN MINING CO 2866857 12.12 659,056 8,779,593
3.94 SUMITOMO MET MIN 6858849 3,555.00 215,479 8,032,414
3.78 SANDFIRE RESOURC 6739739 8.89 878,946 7,813,832
3.59 HUDBAY MINERALS B05BDX1 9.80 689,840 7,430,596
3.15 AURUBIS AG 5485527 66.50 59,487 6,526,677
2.91 MITSUB MATERIALS 6597089 2,360.00 242,471 6,000,300
2.68 ERO COPPER CORP BF02Z72 28.05 180,069 5,551,636
2.53 FILO CORP BMDHMH2 31.15 152,797 5,231,451
2.42 JIANGXI COPPER-H 6000305 12.18 2,125,120 4,957,241
1.48 MMG 6728793 2.05 7,740,206 3,038,895
1.35 AL MASANE AL KOB BNNVLT6 69.50 101,067 2,797,211
1.30 CHINA GOLD INTER B60FNV8 28.40 469,312 2,552,636
1.26 NGEX MINERALS LT BKDKBL4 9.87 240,960 2,614,041
1.05 ALTIUS MINERALS 2122355 26.31 74,930 2,166,828
0.99 CHINA NONFERROUS B890GY2 4.78 2,246,008 2,056,120
0.87 FORAN MINING CRP 2355731 3.87 425,375 1,809,390
0.82 TASEKO MINES 2592066 2.05 556,333 1,704,375
0.69 METALS ACQUISI-A BQBC846 11.00 87,015 1,430,422
0.64 ATALAYA MINING P BYZTVM8 3.61 186,758 1,317,914
0.63 WA1 RESOURCES LT BN10LP1 15.40 91,805 1,413,797
0.60 CENTRAL ASIA MET B67KBV2 1.85 346,583 1,250,661
0.44 JINCHUAN GROUP 6373988 0.48 9,613,638 883,768
0.38 WANGUO INTERNATI B7SHKP6 8.79 453,432 763,326
0.37 NITTETSU MINING 6641027 4,120.00 17,532 757,410
0.25 SOLGOLD PLC B0WD0R3 0.10 2,765,452 525,452
0.24 DEVELOP GLOBAL L BNVQGB0 2.13 232,692 495,633
0.23 SOLARIS RESOURCE BMQ5701 3.05 139,525 467,737
0.13 29METALS LTD BNNVRL0 0.36 731,204 259,578
Holdings are subject to change.

Sector Breakdown As of 13 Sep 2024

Sector Weight (%)
Materials 100.2

Country Breakdown As of 13 Sep 2024

Country Weight (%)
Canada 38.7
Australia 12.0
United States 9.0
China 8.2
Japan 7.2
Poland 5.4
Sweden 4.7
Switzerland 4.4
Chile 4.3
Germany 3.2
Saudi Arabia 1.4
Other/Cash 1.5

Research

Copper: Potential Long-Term Tailwinds Meet a Cyclical Opportunity

Read More

Thinking Beyond the Ore: Adopting Thematic Opportunities

Read More

Copper, Explained

Read More

Documents

FAQs

  • What companies are included in the index?

    The index is designed to track the performance of companies that have a business focus within the copper mining industry or closely related activities. Companies are only eligible for inclusion if:

    • A company’s revenue needs to be generated or expected to be generated in copper mining and/or closely related activities (e.g. exploration or refining of copper).

    • A company that has publicly reported activities in the copper mining space or closely related areas (e.g. exploration or refining of copper).
    The minimum number of constituents is 20 and the maximum number of constituents is 40.

    To be remain eligible, companies included in the index must maintain a minimum market capitalisation of US$100 million and average daily turnover of $0.25 million over the last three months. To become eligible, new companies must have a market capitalisation of $US200 million and a minimum average daily turnover of $0.5 million.

  • How are companies in the index weighted?

    Index components are weighted according to their free float market capitalization. Each component is subject to maximum weight of 4.75%, in order to ensure diversification.

    The aggregate weight of companies that fall short of the liquidity criterion cannot exceed 10% of the index weight.

  • How does WIRE invest in copper miners?

    WIRE is built as a feeder fund that invests directly in the NYSE Arca-listed Global X Copper Miners ETF (COPX), which is managed by the Global X team in New York. Listed in 2010, COPX is the largest copper miners ETF in the world with more than US$1.6 billion in assets under management as of November 2022.

  • What determines the copper price?

    Like other commodities, the value of copper is driven by fundamentals and the availability of substitutes.

    Most copper demand comes from Asia, especially China and India, where it is used to create electric wires for machines, buildings, and expand the grid. This means industrial production in these two countries is an important variable determining the copper price. Copper is also a key metal in the energy transition, as it is needed in great quantities to build solar arrays, wind turbines and electric cars. Global energy policy is therefore another variable.

    The main substitute metal for copper is aluminium, which can replace copper in several applications. Aluminium prices can therefore also determine copper prices.

    1. de Salles, A. , Magrath, R. and Malheiros, M. (2019) Determination of Copper Price Expectations in the International Market: Some Important Variables. Open Journal of Business and Management, 7, 348-373. doi: 10.4236/ojbm.2019.72024.

  • What are some of the key risks of investing in copper miners?

    Like other mining companies, copper miners’ share prices are heavily impacted by the price of what they mine (copper). One risk of investing in copper miners therefore is that the copper price deteriorates, which would – all things being equal – negatively impact revenues and profits.

    Political risk is another risk. As copper miners can operate in higher risk jurisdictions, there is a possibility of unfavourable political environments.

    It is important to note that risks associated with investing in copper miners are not limited to the above.

  • Where can WIRE fit in a portfolio?

    Investors can use WIRE in three main ways. First, it can be used as a portfolio satellite for those wishing to access growth themes like the rise of Asia and clean energy technology—as demand for copper is heavily underpinned by both.

    Second it can be used as a way to express a tactical view on the copper price. Copper miners typically underperform when copper prices fall. However when copper prices rise, copper miners can outperform the metal itself.

    Third, it can be used as a hedge against inflation. Every major sector of the global economy uses copper. As a result, copper prices tend to rise with general consumer prices rise and the copper price and major inflation benchmarks are highly correlated.

Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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