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The Trend ETF Global Gold Miners Fundo de Índice (GLDX11) is a Brazilian exchange-traded fund designed to provide exposure to global gold-mining companies through investments linked to an international benchmark of gold producers. The ETF is managed by XP Asset Management and trades under the ticker GLDX11 on the B3.
Classified as a sector-focused international equity ETF, the fund follows a passive management strategy. Its structure invests primarily in shares of an international ETF that tracks a benchmark composed of companies involved in gold exploration, extraction, and production, seeking to reflect the performance of the global gold-mining industry.
Composition / Exposure profile
GLDX11 provides exposure primarily associated with:
Global gold-mining companies.
Precious-metals producers.
International commodity-related equities.
Gold exploration and extraction businesses.
Mining-sector investments.
Indirect exposure to gold prices.
International equity markets.
Precious-metals value chains.
The ETF seeks to reflect the performance of an international benchmark of gold-mining companies, providing investors with indirect exposure to the gold market through corporate equities.
The ETF’s performance is particularly sensitive to gold-price fluctuations, production costs, mining output, geopolitical developments, and investor demand for precious-metal-related assets.
Structure and costs
GLDX11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption occur through authorized participants, helping to align the ETF’s market price with its net asset value (NAV).
The fund charges a management fee and also incurs costs associated with the underlying international ETF held in the portfolio. GLDX11 does not apply a performance fee and does not provide recurring income distributions.
History and evolution of the ETF
The Trend ETF Global Gold Miners Fundo de Índice was launched with the objective of expanding access to global gold-mining companies through the Brazilian stock exchange using an international ETF structure.
Since inception, the fund has become part of the growing segment of thematic and sector-focused ETFs in Brazil, reflecting increasing investor interest in commodity-related investment opportunities and precious-metals exposure.
In recent years, GLDX11 has reflected both fluctuations in gold prices and the operational performance of mining companies, influenced by macroeconomic conditions, production costs, global demand for precious metals, and developments across international commodity markets.
Additional Information
Trend ETF Global Gold Miners Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $69.25 Millions.
Over the past 12 months, Trend ETF Global Gold Miners Fundo de Índice recorded a return of 10.55%, with its price trading between $83.70 and $131.02 during the same period.
The ETF is traded under the ticker GLDX11.
