Global X Aluminum ETF Makes Debut
The Global X Aluminum ETF made its debut today on the New York Stock Exchange under the ticker "ALUM." The 22-stock ETF is the 18th to be introduced by Global X.
Global X has found success with commodities ETFs that opt to track equities rather hold physical commodities or futures contracts.
With an expense ratio 0.69%, ALUM tracks the Solactive Global Aluminum Index. Top holdings include predictable fare such as Rio Tinto (NYSE: RIO), Alcoa (NYSE: AA) and Aluminum Corp. of China (NYSE: ACH).
The U.S. is the top country weight at over 21%, but Hong Kong, Japan and the U.K. also get double-digit allocations.
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