SLX

VanEck Steel ETF

VanEck Vectors Steel Index Fund seeks investment results that correspond to the price and yield of the Amex Steel Index.


Rules-Based, Concentrated

MANAGEMENT MATRIX

XME

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorVan Eck Associates Corp
CategoryGlobal Equities
Asset classEquity
Websitelink...
Inception dateOct 10, 2006
Assets (mns)$102
Expense ratio55 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
RIO TINTO PLC-SPON ADR 11.6 %
VALE SA-SP ADR 11.0 %
NUCOR CORP 7.5 %
STEEL DYNAMICS INC 5.8 %
POSCO-ADR 5.6 %
TENARIS SA-ADR 5.3 %
ARCELORMITTAL SA ADR 5.1 %
UNITED STATES STEEL CORP 4.9 %
COMMERCIAL METALS CO 4.8 %
GERDAU SA -SPON ADR 4.6 %
Constituent Breakdown
Number of holdings26
Herfindahl-Hirschman Index 609
Wgt avg mkt cap (mns)$8,073
Large cap (>$10bn)29.0%
Mid cap ($2-10bn)33.3%
Small cap (<$2bn)10.6%
Developed mkts.75.3%
Emerging mkts.24.7%
Country Exposure
UNITED STATES 47.6 %
BRAZIL 19.8 %
LUXEMBOURG 14.6 %
BRITAIN 11.6 %
SOUTH KOREA 5.6 %
CANADA 0.7 %
Historical Performance


Standardized Annual Returns (as of 11/30/2022)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
18.4% 30.3% 31.8% 24.4% 12.8% 7.2% 5.2%
Market Correlations
versus...BetaR-squared
S&P 5001.4060%
MSCI EAFE1.5775%
MSCI Emg Mkts1.1646%
Liquidity Measures
Avg. volume (000)27
Turnover1.7%
Avg. Bid/Ask (% of price)0.12%
ADV of underlying (mns)$1,824
Technical Indicators
Recent close$63.00
30d moving avg.$56.68
Annualized volatility37.9%
Relative strength (RSI)66
Short interest (ETF)2.2%
Short interest (underlying)4.9%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: SLX vs. Comps (1 YR)

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Results & Estimates
  2017 2018 2019 2020 2021 2022E 2023E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Dividends per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2021 2022E Fwd Est 2023E
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 --%
0.7 6.3 1.2 5.8% --
Based on closing prices from 11/30/2022
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
SLX



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 Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

SLX

24.9%

Cat. Avg

4.1%

Fund Category: Global Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™24.9%
Recommendation

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

Category Overview
There are 335 funds in the Global Equities category, with an average ALTAR Score™ of 4.1% and a standard deviation of 4.6%. SLX's ALTAR Score™ is approximately 4.6 standard deviations above the category average. This places SLX in the 99th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
SLX
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
SLX 55.0 12.1 67.1
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.