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Sunday, August 23, 2026The Morning Brief →Sign in
XMESPDR

SPDR S&P Metals and Mining ETF

$119.34+4.05% today
8013352-WK

In seeking to track the performance of the S&P Metals & Mining Select Industry Index (the "index"), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the metals and mining segment of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Price & daily flows
121.5106.591.5119.34DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN · NET +$1.4B OVER THIS RANGE

The desk’s read

Money keeps arriving — +$174M of net buying over the past month, about 3.8% of the fund's asset base, while the price has returned +11.0% so far this year. At 0.35% a year it is not the cheapest way in — VAW runs the same ground at 0.10%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$4.6Bassets under management
0.35%expense ratio · $35 per $10,000 a year
+$174Mnet flow, trailing month
2.3Mavg daily volume, 30 days
32holdings · US-domiciled
2006listed June 18, 2006 · beta 1.76
The book at a glance
HL-0.5%NEM+3.1%CDE-0.7%UEC+14.4%RGLD+2.6%FCX+7.6%LEU+5.8%MP+9.1%HCC+3.3%CNR+1.5%RS+2.0%NUE+1.3%BTU+2.8%USAR+12.6%CLF+4.9%CMC+1.6%STLD+4.4%AA+2.6%MTRN-0.3%CENX+1.2%HYMC+3.6%AMR+8.1%KALU+2.0%IE+9.5%MUX+2.5%UAMY+4.2%CMP+5.6%

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1HLHECLA MINING4.61%$20.72-0.5%
2NEMNEWMONT4.23%$131.58+3.1%
3CDECOEUR MINING4.45%$20.97-0.7%
4UECURANIUM ENERGY4.75%$12.76+14.4%
5RGLDROYAL GOLD4.25%$259.01+2.6%
6FCXFREEPORT-MCMORAN4.25%$76.66+7.6%
7LEUCENTRUS ENERGY4.59%$186.26+5.8%
8MPMP MATERIALS4.40%$60.05+9.1%
9HCCWARRIOR MET COAL3.58%$106.73+3.3%
10CNRCore Natural3.68%$95.13+1.5%
11RSRELIANCE STEEL & ALUMINUM3.98%$387.89+2.0%
12NUENUCOR3.73%$243.63+1.3%
13BTUPEABODY ENERGY3.36%$27.61+2.8%
14USARUSA Rare Earth4.46%$19.26+12.6%
15CLFCLEVELAND-CLIFFS3.18%$11.27+4.9%

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Sector weights
Materials75.74%
Basic Materials75.68%
Non-Energy Minerals75.23%
Energy Minerals19.82%
Industrials13.66%
Energy10.66%
Process Industries2.47%
Electronic Technology1.7%
Other0.87%
Producer Manufacturing0.72%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
United States99.63%
Mexico0.37%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week+1.9%
1 month+15.7%
3 months+1.9%
6 months+1.9%
YTD+11.0%
1 year+48.9%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week+$142M
1 month+$174M
3 months−$210M
YTD+$904M
1 year+$1.4B

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows
SepOctNovDecJanFebMarAprMayJunJulAug
DAILY CREATION/REDEMPTION RECORDS, TRAILING TWELVE MONTHS
The risk read
43%realized volatility, 30 days (annualized)
38%realized volatility, 1 year
-26.5%deepest fall from a peak, 1 year
-10.2%where it sits vs. that peak today

The top holding is 4.8% of the book; the top ten carry 44%. Spread across 41+ names, it behaves like roughly 28 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
4Kcalls today
674puts today
0.15put/call ratio
4.3Mshares traded
Most-traded holdings, options premiumBullishBearish
FCX FREEPORT-MCMORAN$34M$37M
NEM NEWMONT$16M$19M
MP MP MATERIALS$9M$7M
HL HECLA MINING$7M$3M
CDE COEUR MINING$4M$4M

TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES

InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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