RING
iShares MSCI Global Gold Miners ETF
iShares MSCI Global Gold Miners Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI ACWI Select Gold Miners Investable Market Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
1.4 B
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock Funds/USA |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 31, 2012 |
| Assets (mns) | $1,439 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NEWMONT MINING CORP | 15.3 % |
| AGNICO-EAGLE MINES LTD | 13.6 % |
| BARRICK MINING CORP | 7.7 % |
| SILVER WHEATON CORP | 7.4 % |
| KINROSS GOLD CORP | 4.4 % |
| ANGLOGOLD ASHANTI PLC | 4.4 % |
| GOLD FIELDS LTD | 4.4 % |
| ZIJIN MINING GROUP CO LTD-H | 3.9 % |
| ALAMOS GOLD INC. | 3.3 % |
| HARMONY GOLD MINING CO LTD | 2.5 % |
Constituent Breakdown
| Number of holdings | 41 |
| Herfindahl-Hirschman Index | 660 |
| Wgt avg mkt cap (mns) | $23,769 |
| Large cap (>$10bn) | 54.1% |
| Mid cap ($2-10bn) | 22.8% |
| Small cap (<$2bn) | 4.3% |
| Developed mkts. | 68.1% |
| Emerging mkts. | 14.5% |
Country Exposure
 |
CANADA | 43.9 % |
 |
UNITED STATES | 17.4 % |
 |
SOUTH AFRICA | 7.4 % |
 |
AUSTRALIA | 5.1 % |
 |
CHINA | 3.9 % |
 |
PERU | 1.1 % |
 |
RUSSIA | 1.0 % |
 |
INDONESIA | 1.0 % |
 |
BRITAIN | 0.7 % |
Historical Performance
Standardized Performance (as of 06/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 55.7% | 58.6% | 37.1% | 26.2% | 7.7% | 11.9% | -- | -1.1% |
| Dividend Yield | 0.0% | 1.2% | 1.7% | 2.0% | 1.8% | 1.4% | -- | 1.2% |
| Total Returns | 55.7% | 59.7% | 38.8% | 28.2% | 9.5% | 13.3% | -- | 0.1% | Ann. Volatility | 38.7% | 35.1% | 33.3% | 34.3% | 34.3% | 37.3% | -- | 37.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.27 | 2% |
| MSCI EAFE | 0.87 | 22% |
| MSCI Emg Mkts | 1.05 | 34% |
Liquidity Measures
| Avg. volume (000) | 304 |
| ADV traded (mns) | $13 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.50% |
Technical Indicators
| Recent close | $43.79 |
| 30d moving avg. | $43.62 |
| Annualized volatility | 30.3% |
| Relative strength (RSI) | 56 |
| Short interest | 4.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| SGDM | Sprott Gold Miners ETF | 45.8% | +11 bp | +4.0% |
| AGMI | Themes Silver Miners ETF | 25.6% | -4 bp | +6.5% |
| AUMI | Themes Gold Miners ETF | 25.6% | -4 bp | +5.4% |
| SLVP | iShares MSCI Global Silver Miners ETF | 23.9% | 0 bp | +8.2% |
| GOEX | Global X Gold Explorers ETF | 23.8% | +26 bp | +3.9% |
| GDX | VanEck Gold Miners ETF | 21.2% | +12 bp | +4.3% |
| NANR | SPDR S&P North American Natural Resources ETF | 14.3% | -4 bp | +8.1% |
| GDXJ | VanEck Junior Gold Miners ETF | 14.1% | +13 bp | +5.4% |
| FTWO | Strive FAANG 2.0 ETF | 10.5% | +10 bp | +4.5% |
| SILJ | ETFMG Prime Junior Silver Miners ETF | 10.3% | +30 bp | +3.0% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/11/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
RING
5.6%
Cat. Avg
4.5%
ALTAR Score™ Calculation
Category Overview
There are 373 funds in the Global Equity category, with an average ALTAR Score™
of 4.5% and a standard deviation of
3.4%. RING's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places RING in the 63rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
RINGSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| (39 bp) Percentile rank | 19 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| RING | 39.0 | 0.0 | 39 |
| Peer Avg. | 56.2 | 40.1 | 96.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .