Listed on London Stock Exchange and Deutsche Börse Xetra, Global X Copper Miners UCITS ETF tracks the Solactive Global Copper Miners v2 index.
The launch comes following Global X’s launch of seven new funds in Europe last week, which focused on themes such as cybersecurity and artificial intelligence.
Available for a total expense ratio of 0.65%, the fund currently holds 39 stocks globally, with firms in Canada, Australia and the US comprising the top three countries respectively.
Global X described copper as “a leading barometer for global economic health,” and argued that inflationary pressures and growing demand for electric vehicle adoption, clean energy and infrastructure spending will make copper increasingly valuable.
Morgane Delledonne, director of research in Europe for Global X ETFs, said: “Copper is useful for a wide range of applications including construction, industrial machinery, transportation, electric generation, and electronics. 2021 has proven to be a transformational year for copper, and we have a strong long-term outlook for copper demand driven by trends poised to disrupt the global economy.
“Leveraging our expertise in commodities ETFs in the US market, Global X is thrilled to provide European investors a targeted play on copper mining stocks with COPX.”