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% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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