Overview
US metals and mining, equal-weighted — steelmakers, gold diggers, copper and coal in one basket where the small names count like the giants.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| AA | Alcoa Corp. | 3.4% |
| FCX | Freeport-McMoRan | 3.2% |
| NEM | Newmont Corp. | 3.1% |
| X | U.S. Steel | 2.9% |
| NUE | Nucor Corp. | 2.9% |
| CLF | Cleveland-Cliffs | 2.8% |
| STLD | Steel Dynamics | 2.7% |
| HL | Hecla Mining | 2.7% |
| CDE | Coeur Mining | 2.6% |
| BTU | Peabody Energy | 2.5% |
Fund Details
Investment Thesis
XME is the commodity supercycle wearing American equities: steel behind reshoring tariffs, copper behind the grid build-out, gold miners behind $4,400 gold — equal-weighted so the mid-cap torque comes through. The +24% year is what a broad metals bid looks like in one ticker. It swings like the commodities beneath it, both directions.
Who It's For
Commodity-cycle investors who want the miners' operating leverage over the metals themselves, spread across the whole complex rather than one metal's story.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $38.40 | -- |
| 2017 | $45.69 | +19.0% |
| 2018 | $33.35 | -27.0% |
| 2019 | $36.69 | +10.0% |
| 2020 | $42.19 | +15.0% |
| 2021 | $57.80 | +37.0% |
| 2022 | $50.87 | -12.0% |
| 2023 | $58.50 | +15.0% |
| 2024 | $64.35 | +10.0% |
| 2025 | $74.00 | +15.0% |
| Year | Yield |
|---|---|
| 2016 | 0.90% |
| 2017 | 0.70% |
| 2018 | 1.00% |
| 2019 | 1.20% |
| 2020 | 0.90% |
| 2021 | 0.50% |
| 2022 | 0.80% |
| 2023 | 0.60% |
| 2024 | 0.40% |
| 2025 | 0.40% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1.5B | -- |
| 2017 | $1.8B | +20.0% |
| 2018 | $1B | -44.4% |
| 2019 | $1B | +0.0% |
| 2020 | $1.5B | +50.0% |
| 2021 | $2.5B | +66.7% |
| 2022 | $2B | -20.0% |
| 2023 | $2B | +0.0% |
| 2024 | $2.8B | +40.0% |
| 2025 | $3.8B | +35.7% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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