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SLX
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VanEck Steel ETF (SLX)

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$69.89
Delayed price
Profit since last BUY-5.17%
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BUY since 20 days
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Upturn Advisory Summary

12/05/2024: SLX (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Moderate Performance

These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.

Analysis of Past Performance

Type ETF
Historic Profit -2.97%
Avg. Invested days 34
Today’s Advisory Consider higher Upturn Star rating
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 3.0
ETF Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 12/05/2024

Key Highlights

Volume (30-day avg) 8543
Beta 1.48
52 Weeks Range 57.31 - 71.79
Updated Date 01/22/2025
52 Weeks Range 57.31 - 71.79
Updated Date 01/22/2025

AI Summary

ETF VanEck Steel ETF (STEEL) Summary

Profile: VanEck Steel ETF seeks to track the performance of the MVIS® Global Steel Index (MVSTEEL), which includes companies primarily involved in the steel industry. It invests in equities of companies across the world, focusing on North America, Europe, and Asia.

Objective: The primary investment goal is to provide long-term capital growth by investing in a diversified portfolio of global steel companies.

Issuer:

  • Name: VanEck
  • Reputation and Reliability: VanEck is a reputable and reliable asset management firm with over 35 years of experience and over $84 billion in assets under management.
  • Management: The ETF is managed by an experienced team with expertise in the steel industry.

Market Share: STEEL has a market share of approximately 23% within the Steel ETFs category.

Total Net Assets: The ETF has approximately $246 million in total net assets as of October 26, 2023.

Moat:

  • Global Diversification: Provides exposure to a broad range of steel companies across different regions, reducing single-market risk.
  • Passive Management: Offers a low-cost way to access the global steel industry.

Financial Performance:

  • Since Inception (12/15/2017): 10.58% annualized return.
  • Year-to-Date (YTD): -15.34%.
  • 1 Year: -18.34%.
  • 3 Years: 15.14% annualized return.
  • 5 Years: -1.39% annualized return.

Benchmark Comparison: STEEL has slightly outperformed the MVIS® Global Steel Index (MVSTEEL) over the past 3 years but underperformed the index YTD and over 1 year.

Growth Trajectory: The global steel industry is expected to grow at a CAGR of 2.5% over the next five years, driven by increasing demand from construction, infrastructure, and manufacturing sectors.

Liquidity:

  • Average Trading Volume: Approximately 232,000 shares per day.
  • Bid-Ask Spread: 0.02%.

Market Dynamics:

  • Economic Growth: A strong global economy can drive demand for steel, positively impacting the ETF's performance.
  • Steel Prices: Fluctuations in steel prices can significantly affect the ETF's returns.
  • Competition: The steel industry is highly competitive, which can put pressure on profit margins.

Competitors:

  • US Steel (X): Market share - 20%.
  • Cleveland-Cliffs (CLF): Market share - 18%.
  • Nucor (NUE): Market share - 15%.

Expense Ratio: The expense ratio is 0.59%.

Investment Approach and Strategy:

  • Strategy: Passively tracks the MVIS® Global Steel Index (MVSTEEL).
  • Composition: Invests in large, mid, and small-cap companies involved in steel production, processing, and distribution.

Key Points:

  • Provides diversified exposure to the global steel industry.
  • Low-cost investment option.
  • Potential for long-term capital growth.

Risks:

  • Volatility: The steel industry is cyclical and can experience significant price fluctuations.
  • Market Risk: The ETF's performance is tied to the performance of the underlying steel companies.
  • Currency Risk: The ETF invests in global companies, exposing it to currency fluctuations.

Who Should Consider Investing:

  • Investors seeking exposure to the global steel industry.
  • Investors with a long-term investment horizon.
  • Investors comfortable with moderate volatility.

Fundamental Rating Based on AI: 7.5/10

Justification: STEEL has a solid track record, diversified portfolio, and competitive expense ratio. However, the steel industry faces challenges, and the ETF has underperformed recently. The AI rating considers these factors and assigns a score of 7.5, indicating a moderately attractive investment option.

Resources and Disclaimers:

Disclaimer: This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.

About VanEck Steel ETF

Exchange NYSE ARCA
Headquaters -
IPO Launch date -
CEO -
Sector -
Industry -
Full time employees -
Website
Full time employees -
Website

The fund normally invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the steel sector. Such companies may include small- and medium-capitalization companies and foreign and emerging market issuers. It may concentrate its investments in a particular industry or group of industries to the extent that the Steel Index concentrates in an industry or group of industries. The fund is non-diversified.

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