A press release said the launches are the latest expansion in the ETF issuer’s global commodity funds suite and are aimed at giving investors a purer play in gold and oil equities, respectively, by following the indexing methodology of the Solactive Indexes.
The Global X Pure Gold Miners ETF tracks the Solactive Global Pure Gold Miners Index, which is comprised of global companies involved in the gold mining industry. Only companies that generate the vast majority of their business from gold mining are eligible to be included in the Underlying Index. As of 2010 revenue data, over 95% of the revenues from the companies in the Underlying Index were derived from gold mining, according to Structured Solutions AG. As of March 10, 2011, the three largest components of the index were Gold Fields, Polyus Gold, and Kinross Gold Corp.
The Global X Oil Equities ETF tracks the Solactive Global Oil Equities Index, which is designed to measure the performance of oil companies globally that are highly correlated with the spot price of oil. As of March 10, 2011, the three largest components of the index were Forest Oil Corp., Newfield Exploration Co., and Apache Corp.More information is at http://www.globalxfunds.com.