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iShares S&P/TSX Global Gold Index ETF (XGD $55.98)
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BMO Equal Weight Global Base Metals Hedged to CAD Index ETF (ZMT $123.00)
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iShares S&P/TSX Global Base Metals Index ETF (XBM $33.75)
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Global X Uranium Index ETF (HURA $67.33)
Q: Hi 5i,
My portfolio currently has a full position in XGD which has been brilliant. Looking forward, how do you view opportunities in base metals/copper and uranium versus gold?
As the commodity rally broadens I want to expand my positions beyond gold and am looking for ETF exposure. I see ZMT and XBM for Canadian listed base metals, and HURA for uranium. Are there any other ETFs that you focus on?
Thanks in advance and please remove credits as needed.
My portfolio currently has a full position in XGD which has been brilliant. Looking forward, how do you view opportunities in base metals/copper and uranium versus gold?
As the commodity rally broadens I want to expand my positions beyond gold and am looking for ETF exposure. I see ZMT and XBM for Canadian listed base metals, and HURA for uranium. Are there any other ETFs that you focus on?
Thanks in advance and please remove credits as needed.
5i Research Answer:
We would continue to view gold as the best bet versus base metals. Silver has been outperforming, but in any sort of a crisis we think investors go back to gold. Uranium continues to look good to us as well. For Canadian-listed ETFs, we think those noted in the question make the most sense. We tend to focus on US ETFs which are often cheaper, and of course commodities are priced in US dollars as well.