Big Gold Miners ETF To Stick With Current Index

Following some previously announced changes to its underlying index, the Market Vectors Gold Miners ETF GDX will continue tracking the NYSE Arca Gold Miners Index. Last month, it was revealed that the NYSE Arca Gold Miners Index would begin including more American depositary receipts and global depositary receipts while barring companies with market values below $750 million. Related: If Mining Rally Is Legitimate, Don't Forget These ETFs. The NYSE Arca Gold Miners Index "is a modified market capitalization-weighted index, and provides exposure to publicly traded companies worldwide involved primarily in gold mining, representing a diversified blend of small-, mid- and large- capitalization stocks," according to the GDX web page. GDX is the largest gold miners ETF with $6.4 billion in assets under management. Goldcorp GG, Barrick Gold ABX and Newmont Mining NEM are the ETF's top-three holdings and combine for about 35 percent of the fund's weight. Changes to the index are expected to take place after September 20. "After reviewing the improved methodology, we are pleased with the planned changes and expect them to be beneficial for investors," said Brandon Rakszawski, product manager with Market Vectors, in a statement. "By moving to allow for the inclusion of non-U.S. listed companies, we believe the Index will better capture the global nature of the gold mining industry. Additionally, by increasing the minimum market cap for inclusion in the Index, the overall liquidity of GDX holdings may be improved ." Market Vectors also issues the Market Vectors Junior Gold Miners ETF GDXJ. GDXJ, which has $1.8 billion in AUM, is benchmarked to an in-house index. For more on ETFs, click here. Disclosure: Author does not own any of the securities mentioned here.