The one pure copper fund on the ASX is up 77% in a year and the money has followed. Looked through, the funds most people reach for are barely copper at all.
one-year return of WIRE, the one pure copper-miners ETF on the ASX
flowed into WIRE over twelve months, about 138% of its size a year earlier
ASX ETFs hold the A$100m to A$200m copper explorers
The one pure copper-miners ETF on the ASX (WIRE) is up 77% over the year, and over twelve months it took in A$391m, about 138% of its size a year earlier. Strong returns and strong inflows together is the pattern that, in ETFtracker’s crowding work, has tended to precede softer returns.
Looked through, the popular Australian resources ETFs are iron ore, gold and oil. Pure copper miners are 2% of the Australian resources fund MVR and 1.6% of the ASX 200 Resources benchmark, which is 39% BHP by itself.
The A$100m to A$200m copper explorers appear in zero ASX ETFs. The note does not say whether copper is a good investment; it shows where the theme already is, how much money has just arrived, and what the obvious fund actually holds.
Research from ETFtracker. A research signal, not investment advice.