'Curse of Success' Leads the Most Popular Mining ETF to Widen Its Holdings
- MVIS Index changes rules, allowing ETF to add other equities
- GDXJ attracts $1.5 billion, beating peers in materials sector
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The world’s second-largest exchange-traded fund linked to material producers has become the victim of its own success.
With investors piling in amid a precious-metals recovery, VanEck Vectors Junior Gold Miners ETF’s assets jumped 60 percent to $5.54 billion this year. That created a dilemma for the fund that tracks the MVIS Junior Gold Miners Index, as its holdings surge above 10 percent of some of the companies it owns.