Loading ...Like I stated earlier, for several months JNUG has appeared to track somewhere between the HUI/XAU indexes. I was WRONG, according to this article from two years ago, JNUG/JDST track a Van Eck index GDXJ. Sounds crazy to me, but it is what it is.
“April 15, 2015 08:33 AM Eastern Daylight Time
FRANKFURT–(BUSINESS WIRE)–Market Vectors Index Solutions (MVIS) today announced the licensing of the Market Vectors Global Junior Gold Miners Index (MVGDXJ) to Van Eck Global, one of the largest providers of exchange-traded products (ETPs) in the United States. The Market Vectors Junior Gold Miners UCITS ETF (GDXJ) starts tracking the index today.
The Market Vectors Junior Gold Miners UCITS ETF is the second ETF issued by Van Eck Global based on the Global Junior Gold Miners Index. The index has been underlying a U.S.-listed Market Vectors ETF since October 2009 with assets under management of USD 1.7 billion.
Following the special index concept of all Market Vectors Indices, MVGDXJ is designed to be investable, specifically to underlie ETFs. The pure-play index tracks the performance of the most liquid junior companies in the global gold and silver mining industry, provided they generate at least 50% of their revenue from this sector. Moreover, companies have to undergo demanding liquidity screenings to qualify for index inclusion. The free-float weighted Market Vectors Global Junior Gold Miners Index is calculated as a price and total return net index in USD. Index reviews are applied quarterly.”