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Sprott Gold Miners ETF surpasses USD100m in assets

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The Sprott Gold Miners ETF (SGDM) has raised more than USD100 million in assets. SGDM was created in partnership with ALPS Advisors, who serves as the investment adviser to the fund and Zacks Index Services.

Launched in July of this year, the fund seeks to provide exposure to the Sprott Zacks Gold Miners Index, which seeks to outperform a purely passive, market-capitalisation representation of gold stocks. The Index methodology is factor-based and was developed by leveraging Sprott’s long-time experience as a gold investor and Zacks’ research capabilities.

“We launched the Sprott Gold Miners ETF because we believed the market was ready for a ‘smart beta’ alternative to traditional market cap-weighted gold equities investments,” says John Ciampaglia, Head of Exchange-Traded Funds (ETFs) at Sprott Asset Management. “Despite a challenging environment for gold stocks, SGDM has become the second-largest senior gold equities ETF listed on the US market.”

The Sprott Zacks Gold Miners Index uses a transparent, rules-based methodology that is designed to identify 25 gold stocks with the highest historical beta to the spot price of gold, with each stock’s weighting in the Index adjusted based on its quarterly revenue growth on a year-over-year basis and the quality of its balance sheet, as measured by long-term debt to equity. The Index is rebalanced on a quarterly basis to incorporate the latest financial data into the screening process.

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