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Thoughts on WIRE ETF as a copper play

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Thoughts on WIRE ETF as a copper play

Hi MM Team, In previous opinion pieces on Sandfire Resources you have mentioned the miner is "arguably fully priced with copper at its current level". Are you able to provide your opinion on buying ASX:WIRE as a diversified play on copper miners compared to Sandfire Resources? Thanks, Mitch


Hi Mitch,

Were bullish on both Sandfire (SFR) and and the copper ETF WIRE, so far in 2024 SFR is up +21.4% whereas WIRE is outperforming 27.7% Assuming we are correct and copper continues to rally through 2024/5 both should benefit.

  • We like WIRE as a diversified copper play although a pullback does feel overdue.

Currently WIRE’s three largest holdings are overseas names Lundin Mining Corp 6%, Antofagasta PLC +5.9%, and Ivanhoe Mines 5.8%.

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Global X Copper ETF (WIRE)
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