iShares MSCI Global Gold Miners ETF

RING

Market cap $2.17B

If you bought VanEck Gold Miners ETF (NYSEARCA:GDX) because you wanted leveraged exposure to a gold rally, the past decade delivered a quiet insult: a nearly identical fund charging less beat it, and physical gold beat it too.

U.S. natural gas futures climbed about ​3% on Wednesday on forecasts for hotter-than-normal weather and more demand over the next two weeks than previously expected.

Gold's strategic push and strong prices are boosting mining ETFs like GDX, RING and SGDJ, offering investors a compelling entry point amid recent dips.

For investors seeking momentum, iShares MSCI Global Gold Miners ETF RING is probably on the radar. The fund just hit a 52-week high and is up 211.77% from its 52-week low price of $31.95/share.

Gold and gold mining ETFs remain a 'buy' as structural drivers—central bank buying, de-dollarization, and fiscal deficits—support sustained high gold prices. Miners like Agnico Eagle, Newmont, and Kinross are generating record free cash flow, strengthening balance sheets, and increasing shareholder returns. Despite a 65% gold rally in 2025, miners still trade at valuations assuming lower gold prices, presenting a valuation gap and further upside potential.

iShares MSCI Global Gold Miners ETF is rated Hold, reflecting its current phase between gold-driven margin expansion and reliable cash compounding. RING's top holdings exhibit disciplined capital allocation and net cash positions, but cash reserves are not yet sufficient to cushion against gold price pullbacks.

I reiterate a buy rating on the iShares MSCI Global Gold Miners ETF, citing compelling valuation and strong technical momentum.

IDGT, WCBR, UTES, BDRY, MKOR & RING led last week's ETF gains as AI rotation, Japan optimism, shipping strength and defensive demand drove standout performance.

Sold 528,148 shares of RING; estimated transaction value $35.65 million based on quarterly average pricing. Quarter-end position value decreased by $26.64 million, reflecting both selling activity and price movement effects.

In my equity watchlist there will not be only the USA, I will closely follow global markets, especially factor strategies. In the bond segment, I really appreciate active management; I think passive ones will remain poorly able to capture the evolutions of 2026. Among the segments with alpha potential, I identify the small cap value segment due to lower valuations and better earnings expectations.