ESG-Screened Gold Miners ETF Report | Jul 2024

ESG Gold ETF Macro Outlook

We’ve now seen the end of the first half of 2024, with gold closing at USD 2,326 and silver at USD 29.15 per troy ounce. Both metals were down slightly in June from their recent highs in May. Nevertheless, gold and silver for the year’s first half are up +12.81% and +22.47%, respectively, in USD. Meanwhile, the dollar has been strong against the euro (+2.8%) during the year’s first six months.

Perhaps the most high-profile event of June is the debate between the presidential candidates in the United States. It’s hard not to wonder how such a low level (“low energy”) of politics in the most powerful country in the world will end.

After the ordinary quarterly rebalancing, the ETF included three new holdings:

  • Endeavour Silver – ESG-Risk-Score (Top 25)
  • Silvercorp – ESG-Risk-Score (Top 25)
  • African Rainbow – ESG-Risk-Score (Top 25)

and had three deletions:

  • Barrick Gold – ESG-Risk-Score (Outside Top 25)
  • SSR Mining – ESG-Risk-Score (Outside Top 25)
  • Ramelius Resources – ESG-Risk-Score (Outside Top 25)

The overall portfolio ESG Risk Score was 26.59 at inception and has since then decreased substantially. The current ESG Risk Score for 2024 Q2 is 21,77 (2024 Q1: 22,36).

Morningstar: 🌐🌐🌐🌐🌐 (5 globes)

ESG Gold ETF Performance
As of 30.06.2024

1M3M6MYTD12M3YSI
AuAg ESG Gold Mining UCITS ETF (ESGO)-6.24%7.46%1.89%1.89%7.45%N/A-6.43%
Solactive AuAg ESG Gold Mining Index-6.21%7.71%2.26%2.26%8.21%-2.98%-4.69%


Please note that all performance figures are showing net data. Source: Bloomberg / HANetf. Data as of 30/06/2024

Performance before inception is based on back-tested data. Backtesting is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such a strategy would have been. Back-tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in this product. When you invest in ETFs your capital is at risk.

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