SLX
VanEck Steel ETF
VanEck Vectors Steel Index Fund seeks investment results that correspond to the price and yield of the Amex Steel Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
125.3 M
ASSETS UNDER MGMT
56 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 10, 2006 |
| Assets (mns) | $125 |
| Expense ratio | 56 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | 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 +
| RIO TINTO PLC-SPON ADR | 10.7 % |
| VALE SA-SP ADR | 8.9 % |
| ARCELORMITTAL SA ADR | 5.7 % |
| NUCOR CORP | 5.7 % |
| STEEL DYNAMICS INC | 5.5 % |
| CARPENTER TECHNOLOGY | 5.3 % |
| ALLEGHENY TECHNOLOGIES INC | 5.2 % |
| TENARIS SA-ADR | 5.1 % |
| WARRIOR MET COAL, INC. | 5.0 % |
| CLEVELAND-CLIFFS INC | 4.6 % |
Constituent Breakdown
| Number of holdings | 25 |
| Herfindahl-Hirschman Index | 568 |
| Wgt avg mkt cap (mns) | $27,298 |
| Large cap (>$10bn) | 59.7% |
| Mid cap ($2-10bn) | 26.7% |
| Small cap (<$2bn) | 9.6% |
| Developed mkts. | 77.5% |
| Emerging mkts. | 22.4% |
Country Exposure
 |
UNITED STATES | 51.2 % |
 |
BRAZIL | 17.7 % |
 |
LUXEMBOURG | 15.0 % |
 |
BRITAIN | 10.7 % |
 |
SOUTH KOREA | 4.6 % |
 |
CANADA | 0.7 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 38.3% | 13.4% | 7.5% | 8.7% | 15.3% | 13.7% | -- | 3.4% |
| Dividend Yield | 0.0% | 0.0% | 1.6% | 2.9% | 3.9% | 4.0% | -- | 2.9% |
| Total Returns | 38.3% | 13.4% | 9.1% | 11.6% | 19.2% | 17.6% | -- | 6.3% | Ann. Volatility | 26.8% | 27.1% | 24.4% | 24.7% | 28.6% | 32.3% | -- | 38.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.00 | 52% |
| MSCI EAFE | 1.15 | 50% |
| MSCI Emg Mkts | 1.04 | 46% |
Liquidity Measures
| Avg. volume (000) | 36 |
| ADV traded (mns) | $3 |
| Turnover | 2.3% |
| Avg. Bid/Ask (% of price) | 0.26% |
Technical Indicators
| 30d moving avg. (EMA) | $77.67 |
| Relative strength (RSI) | 60 |
| MACD/Signal | 0.87/0.73 |
| Bollinger Bands (Upper/Lower) | $81.10/$75.55 |
| Short interest (% of AUM) | 1.9% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SLX |
Expenses vs. SLX |
ALTAR Score™ vs. SLX |
|---|---|---|---|---|
| XME | State Street SPDR S&P Metals & Mining ETF | 29.9% | -21 bp | +6.8% |
| FXZ | First Trust Materials AlphaDEX Fund | 16.6% | +5 bp | +9.4% |
| PYZ | Invesco Dorsey Wright Basic Materials Momentum ETF | 14.0% | +4 bp | +5.3% |
| EV | Mast Global Battery Recycling & Production ETF | 13.9% | +9 bp | +6.7% |
| IYM | iShares U.S. Basic Materials ETF | 12.7% | -16 bp | +6.0% |
| LIT | Global X Lithium & Battery Tech ETF | 10.7% | +19 bp | +4.4% |
Risk and Returns: SLX 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 12/1/2025
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
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.
ALTAR Score™
SLX
13.5%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 378 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.1%. SLX's ALTAR Score™ is approximately
3.0 standard deviations
above
the category average. This places SLX in the 99th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SLXSELL
U/W
HOLD
O/W
BUY