Quick Read Goldman Sachs Physical Gold ETF (AAAU) returned 73.1% over the past year with a 0.18% expense ratio. Goldman Sachs Physical Gold ETF undercuts SPDR Gold Trust on fees at 0.18% versus 0.40%. Physical gold ETFs face 28% maximum long-term capital gains tax versus 20% for standard equity ETFs. Read: I Review Investing Platforms For A Living, And SoFi Crypto Finally Changed My Mind Gold has returned 73% over the past year and 18% year-to-date through February 20, 2026, outpacing most tradi ...

Core Insights - The Global X - Silver Miners ETF (SIL) and the VanEck Gold Miners ETF (GDX) provide targeted access to mining companies, differing in metal focus and portfolio construction [2][9] - SIL is silver-centric with a higher recent return and drawdown, while GDX is gold-focused, lower cost, and more diversified [1][4] Cost & Size Comparison - SIL has an expense ratio of 0.65% and AUM of $6.2 billion, while GDX has a lower expense ratio of 0.51% and AUM of $30.5 billion [3][4] - The one-year return for SIL is 167.2% compared to GDX's 136.8%, with SIL offering a higher dividend yield of 1.0% versus GDX's 0.6% [3][4] Performance & Risk Metrics - Over five years, SIL has a max drawdown of 55.63% while GDX has a max drawdown of 46.52% [5] - Growth of $1,000 over five years is $2,169 for SIL and $2,765 for GDX, indicating GDX's superior performance [5] Portfolio Composition - GDX tracks 55 companies in the gold mining industry, with top holdings including Agnico Eagle Mines Ltd (9.25%), Newmont Corp (8.88%), and Barrick Mining Corp (6.79%) [6] - SIL focuses on the silver mining sector with 39 holdings, heavily weighted towards Wheaton Precious Metals Corp (21.80%), indicating a more concentrated portfolio [7][12] Investment Implications - Both ETFs provide diversification and have a high correlation to the prices of their respective metals, with GDX having more holdings and a lower expense ratio [9][13] - SIL offers a higher dividend yield, and recent performance indicates that silver has outperformed gold [13][11]

Core Insights - The SPDR Gold Shares (GLD) and the Global X Silver Miners ETF (SIL) cater to different investor profiles due to their distinct risk levels, cost structures, and underlying exposures [1][2] Cost & Size Comparison - GLD has a lower expense ratio of 0.40% compared to SIL's 0.65%, which can be significant for long-term investors [4] - As of February 11, 2026, GLD has an AUM of $175.3 billion, while SIL has an AUM of $6.6 billion [3] Performance & Risk Metrics - Over the past five years, SIL experienced a maximum drawdown of -56.8%, while GLD's maximum drawdown was -22.0% [5] - A $1,000 investment would have grown to $2,731 in GLD and $2,560 in SIL over the same period [5] Underlying Holdings - GLD provides direct exposure to gold bullion, tracking the price of physical gold, and does not hold any mining stocks, making it a safer option for those wary of company-specific risks [6] - SIL invests in 39 silver mining stocks, with major holdings in companies like Wheaton Precious Metals Corp, Pan American Silver Corp, and Coeur Mining Inc, which adds potential upside but also greater volatility [7]

Expense ratios, volatility, and drawdowns reveal key differences between these top precious metal ETFs for risk-aware investors.The iShares Silver Trust (SLV 3.01%) and SPDR Gold Shares (GLD 3.13%) stand apart on recent performance, volatility, and cost—with SLV surging over the past year but GLD offering a smoother, lower-risk ride and a marginally lower fee.Both SLV and GLD are designed for investors looking to track the price of physical precious metals—silver and gold, respectively—without owning the me ...

Core Insights - The U.S. dollar has dropped to its weakest level in nearly four years due to a strengthening yen and concerns over U.S. policy stability [1] Group 1: U.S. Dollar Weakness - Investor unease is growing due to erratic policymaking in Washington, including threats from President Trump, which is contributing to the dollar's decline [2] - Disagreements between Republicans and Democrats over Homeland Security funding are raising fears of a potential government shutdown, further impacting the dollar [3] Group 2: Yen Strength and Market Speculation - The decline in the dollar is linked to U.S. support for the yen, leading to speculation about coordinated currency intervention, with the Invesco CurrencyShares Japanese Yen Trust (FXY) gaining 3.8% over the past week [4][5] - The yen had previously neared 160 per dollar before rebounding on intervention speculation, currently trading at 152.64 per dollar [6] Group 3: Global Economic Trends - The share of the U.S. dollar in global reserves has decreased to 56.3%, marking a decline of about 1.5 percentage points and the lowest level in three decades, as BRICS economies move towards de-dollarization [7] Group 4: Investment Strategies - Investors are advised to consider inverse dollar ETFs like Invesco DB US Dollar Index Bearish Fund (UDN) to capitalize on the dollar's decline [8] - The weakening dollar is beneficial for commodities, with SPDR Gold Shares (GLD) gaining approximately 19.5% this year, and broader commodity ETFs like Invesco DB Commodity Index Tracking Fund (DBC) rising about 10% year to date [9][10] - Emerging markets may present new investment opportunities as de-dollarization progresses, with Pacer Emerging Markets Cash Cows 100 ETF (ECOW) up about 8.5% this year [11] - Large-cap stocks, which have greater foreign exposure, may benefit from a weaker dollar, making SPDR S&P 500 ETF Trust (SPY) a focus for potential gains [12] - Digital currencies may also offer new opportunities amid de-dollarization, with Bitcoin gaining 1.7% this year and Global X Blockchain ETF (BKCH) up 15.5% year to date [13]

Core Viewpoint - The U.S. dollar has reached a four-year low, influenced by various factors including expectations of further Federal Reserve rate cuts, tariff-related uncertainties, and concerns regarding Fed independence, which have collectively diminished investor confidence in the U.S. macroeconomic outlook [1]. Economic Indicators - The U.S. Dollar Index (DXY) has decreased by 1.94% over the past month and 10.74% over the past year, with an all-time decline of 19.81% [2]. Interest Rate Expectations - Anticipations of further interest rate cuts by the Federal Reserve in 2026 are contributing to the dollar's decline, as lower rates make the dollar less appealing to foreign investors [3][4]. Geopolitical Factors - Geopolitical tensions and renewed tariff frictions have heightened market volatility, leading to a decrease in investor appetite for U.S. assets and a rotation of capital away from the United States, which further pressures the dollar [5][6]. Capital Flows - A significant outflow of capital from U.S. equity funds was noted, with investors withdrawing a net $5.26 billion in the week ending January 21, indicating reduced demand for the dollar [7]. Investment Strategies - In light of the weakening dollar, portfolio diversification and hedging are becoming increasingly important for investors. Funds such as the WisdomTree Emerging Currency Strategy Fund (CEW) provide exposure to various emerging currencies and have seen a positive performance, gaining 1.24% over the past month and 13.94% over the past year [9][10]. Precious Metals - The weakening dollar has led to increased interest in precious metals, with commodity funds attracting a net inflow of $1.96 billion in the week ending January 21, marking a trend of net purchases over 10 out of the last 11 weeks [12]. Emerging Market Opportunities - The decline of the dollar is also driving interest in global equity funds, particularly emerging market ETFs, which may offer higher returns for investors willing to take on additional risk [14][15].

Core Insights - Gold prices have surged significantly, climbing 60.88% over the past six months and 93.20% over the past year, with a recent increase of 6.93% in the last five days, surpassing the $5,200 mark [1][11] - Geopolitical tensions and tariff frictions are driving market volatility and increasing demand for gold as a safe-haven asset [2][5] - Expectations of further Federal Reserve rate cuts and a declining U.S. dollar are supporting the bullish outlook for gold [4][6] Geopolitical and Economic Factors - Renewed tariff threats from President Trump against South Korea and earlier threats against Canada are escalating trade tensions, which are contributing to market unease and boosting safe-haven demand for gold [3][5] - Ongoing U.S. military actions and heightened tensions in regions like Syria, Venezuela, and the Middle East are reinforcing investor demand for gold [5] Market Dynamics - The U.S. Dollar Index (DXY) has decreased by 2.24% over the past five days and 10.75% over the past year, with an all-time decline of 19.81%, making gold more affordable for international buyers [7] - Inflows into gold and precious metals commodity funds reached $1.96 billion in the week ending January 21, marking the 10th week of net purchases in 11 weeks, indicating strong investor interest [8] Central Bank Activity - Central bank gold purchases are expected to remain robust, with Goldman Sachs projecting monthly buying to average around 60 metric tons [9] - Analysts forecast that gold prices could potentially reach $6,000 in 2026, driven by strong demand from central banks and retail investors amid escalating global tensions [10] Investment Strategies - Investors are encouraged to adopt a "buy-the-dip" strategy to increase exposure to gold, as the fundamentals supporting the rally remain strong [13] - Recommended gold ETFs for increased exposure include SPDR Gold Shares (GLD), iShares Gold Trust (IAU), and SPDR Gold MiniShares Trust (GLDM), among others [14][15] - For those interested in gold mining, options include VanEck Gold Miners ETF (GDX) and Sprott Gold Miners ETF (SGDM), which can magnify gains and losses associated with gold prices [16][17]

Core Insights - The influence of retail investors has proven to be more durable and long-lasting than expected, reshaping trading dynamics and pushing hedge funds to adapt [1][2] Retail Investor Participation - Retail trading participation in U.S. equities has risen to nearly 20% of daily trading volume, up from low single digits before the COVID-19 pandemic [4] - On high-volume days, retail participation can reach close to 40% in equities and up to 50% in options [5] - Retail investors have continued to deploy capital, with inflows jumping nearly 60% in 2025 compared to the previous year, surpassing the previous peak set in 2021 [7] Market Dynamics and Institutional Response - Hedge funds and short sellers have learned to respect retail investors, who can quickly mobilize capital and influence market movements [10][11] - Many hedge funds have scaled back short exposure and diversified portfolios to avoid becoming targets of coordinated buying by retail investors [11] Evolution of Retail Investors - The current retail investor is more informed and engaged, utilizing various tools for trading and information [8] - The democratization of access to markets and information has significantly changed the landscape for retail investors [9] Wealth Transfer and Future Participation - Retail investors are expected to gain even more influence due to a looming generational wealth transfer, with millennials and Gen Z set to inherit approximately $120 trillion over the next 20 years [16][17] - Brokerage firms are adapting by offering tools and services that cater to younger investors, including 24/7 trading and access to cryptocurrencies [17] Behavioral Trends - A significant increase in young investors moving funds from checking to investment accounts has been observed, with 37% of 25-year-olds in 2024 doing so compared to just 6% in 2015 [18]

Core Insights - The influence of retail investors has proven to be more durable and long-lasting than expected, reshaping trading dynamics and pushing hedge funds to adapt [1][2] Retail Investor Participation - Retail trading participation in U.S. equities has risen to nearly 20% of daily trading volume, up from low single digits before the COVID-19 pandemic [4] - On high-volume days, retail participation can reach close to 40%, and in options trading, it can be as high as 50% [5] Market Dynamics - The retail investor community has become a persistent force in equity markets, providing a steady source of dip-buying flows that have supported one of the longest bull markets on record [2] - Hedge funds have learned to respect retail investors, who can mobilize capital quickly and influence market movements [10][11] Evolution of Retail Investors - Retail investors are now more informed and engaged, utilizing various tools and resources to make investment decisions [8] - The democratization of access to markets and information has significantly changed the landscape for retail investors [9] Wealth Transfer and Future Trends - A significant generational wealth transfer is expected, with millennials and Gen Z set to inherit approximately $120 trillion over the next 20 years, potentially increasing retail participation [16][17] - Brokerage firms are adapting to cater to younger investors, offering 24/7 trading and access to cryptocurrencies and private market offerings [17] Cultural Impact - The GameStop saga and the rise of meme stocks have left a mark on popular culture, influencing media representations such as the film "Dumb Money" [6][7]

Gold Prices Rise Above $5,000. These ETFs, Gold Miner Stocks Surge.| Investor's Business DailyBREAKING: [S&P 500 Hits Fresh High; Fed, Huge Earnings Loom]---Gold prices moved for the first time above $5,000 per ounce on Monday, buoyed partly by a weakened dollar, U.S. tariff threats against Canada and another possible Federal spending-fight shutdown. As the precious metal continued its strong advance into 2026, related ETFs and stocks moved higher before Monday's stock market open. SPDR Gold Shares (GLD) ga ...