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ETF Specialist

Global X Rolls Out First-Ever Aluminum Industry ETF

This ETF holds companies (not the commodity) that are involved in the aluminum industry.

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On Wednesday, Jan. 5, Global X Funds rolled out its latest niche product, the Global X Aluminum ETF (ALUM).

The new fund is the first-ever pure-play ETF devoted to companies that are primarily involved in the aluminum industry. Up to now, the only aluminum-themed exchange-traded product has been iPath Dow Jones-UBS Aluminum Total Return Sub-Index ETN (JJU), which is a thinly traded exchange-traded note that was launched in mid-2008 and that is intended to reflect the returns of an unleveraged investment in aluminum futures. As such, JJU solely holds futures contracts on aluminum and as a result does not aim to replicate the performance of a basket of companies that operate in the aluminum industry.

Robert Goldsborough does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.