SLX
VanEck Steel ETF
VanEck Vectors Steel Index Fund seeks investment results that correspond to the price and yield of the Amex Steel Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
93.0 M
ASSETS UNDER MGMT
56 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 10, 2006 |
| Assets (mns) | $93 |
| Expense ratio | 56 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| RIO TINTO PLC-SPON ADR | 10.4 % |
| VALE SA-SP ADR | 8.5 % |
| NUCOR CORP | 5.8 % |
| STEEL DYNAMICS INC | 5.4 % |
| TENARIS SA-ADR | 5.3 % |
| ARCELORMITTAL SA ADR | 5.0 % |
| WARRIOR MET COAL, INC. | 4.9 % |
| RELIANCE STEEL & ALUMINUM | 4.9 % |
| CLEVELAND-CLIFFS INC | 4.8 % |
| CARPENTER TECHNOLOGY | 4.7 % |
Constituent Breakdown
| Number of holdings | 27 |
| Herfindahl-Hirschman Index | 532 |
| Wgt avg mkt cap (mns) | $22,169 |
| Large cap (>$10bn) | 46.1% |
| Mid cap ($2-10bn) | 39.2% |
| Small cap (<$2bn) | 6.3% |
| Developed mkts. | 77.6% |
| Emerging mkts. | 22.4% |
Country Exposure
 |
UNITED STATES | 53.0 % |
 |
BRAZIL | 16.6 % |
 |
LUXEMBOURG | 14.7 % |
 |
BRITAIN | 10.4 % |
 |
SOUTH KOREA | 4.2 % |
 |
CANADA | 1.1 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -7.2% | 7.4% | 24.4% | 12.8% | 19.6% | 8.3% | 5.6% | Volatility | 17.0% | 20.2% | 28.0% | 28.9% | 34.5% | 32.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.24 | 48% |
| MSCI EAFE | 1.47 | 65% |
| MSCI Emg Mkts | 1.23 | 43% |
Liquidity Measures
| Avg. volume (000) | 8 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $1,470 |
Technical Indicators
| Recent close | $68.62 |
| 30d moving avg. | $68.83 |
| Annualized volatility | 32.3% |
| Relative strength (RSI) | 38 |
| Short interest (ETF) | 0.7% |
| Short interest (underlying) | 4.9% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SLX |
Expenses vs. SLX |
ALTAR Score™ vs. SLX |
|---|---|---|---|---|
| XME | SPDR S&P Metals & Mining ETF | 43.7% | -21 bp | -12.4% |
| FXZ | First Trust Materials AlphaDEX Fund | 22.9% | +5 bp | -10.5% |
| PSCM | Invesco S&P SmallCap Materials ETF | 16.7% | -27 bp | -12.5% |
| PYZ | Invesco Dorsey Wright Basic Materials Momentum ETF | 15.8% | +4 bp | -15.0% |
| EV | Mast Global Battery Recycling & Production ETF | 12.1% | +9 bp | -9.2% |
| IYM | iShares U.S. Basic Materials ETF | 11.4% | -16 bp | -14.5% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 10.4% | -17 bp | -8.5% |
| ZIG | Acquirers Fund | 10.4% | +28 bp | -5.7% |
Risk and Returns: SLX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/29/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
SLX
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
SLX
21.1%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 361 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.6%. SLX's ALTAR Score™ is approximately
3.7 standard deviations
above
the category average. This places SLX in the 99th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SLXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| SLX (56 bp) Percentile rank | 52 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SLX | 56.0 | 15.4 | 71.4 |
| Peer Avg. | 57.0 | 39.6 | 96.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .