The SPDR S&P Metals & Mining ETF (XME) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a percentage basis, producing a +2.1% one-day return and outperforming the wider markets by a total of 1.88 percentage points.
Behind The Gains
XME closed today at $33.00 per share, up $0.68 (+2.10%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up just $0.50 (+0.22%) on the day.
XME’s trading volume today was a total of 4,798,023 shares, which was an increase of 23% versus its average daily trading volume of 3,914,643. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.
Including any dividends as well as today’s gains, XME has now returned a total of 8.52% year-to-date, versus a 1.44% gain in the S&P 500 during the same timeframe. It’s clear that XME has broken out and is handily outperforming the wider markets now.
A Look Under The Hood
SPDR S&P Metals & Mining ETF is a Equity-focused product issued by State Street Global Advisors. Its expense ratio of 0.35% makes it the #1 cheapest ETF among 121 total funds in the Commodity ETFs category.
XME currently boasts $855.09M in assets under management (AUM), placing it #8 of 121 ETFs in its category, and #328 of 1920 total ETFs in the U.S. exchange traded universe.
The investment objective of the SPDR S&P Metals and Mining ETF is to provide investment results that correspond generally to the total return performance of the S&P Metals and Mining Select Industry Index. This index contains a number of base metals miners, which have seen a huge uptick this year amid Trump-fueled infrastructure gains.
XME SMART Grade
For more information about this ETF, including full ratings, news, data, and more, please visit XME’s ticker page.
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