Global investment manager VanEck has conducted a re-weighting of its Junior Gold Miners ETF, and ASX stock Firefinch (ASX:FFX) has picked up a seat at the table.

The latest data from the US-listed ETF ((NYSE:GDXJ) shows it holds a portfolio of 97 companies across a number of global jurisdictions.

By geography, around half those stocks are based in Canada, while Australia makes up the next highest weighting with 18 companies (around 18.5% of the total).

ETFs work similarly to managed funds which invest in various financial assets including shares, bonds, infrastructure and in some cases even other ETFs.

They offer simple diversified exposure to different sectors such as gold, technology and ESG investments. Globally, fund inflows to ETFs rose to a new record high above US$600bn in the first half of this year.

 

VanEck Junior Gold Miners ETF

Data from the VanEck investment page shows that as at the close of markets on Friday, the fund held $US4.4bn worth of assets.

The latest data shows that as of the start of this week, the ETF had carried out a re-weighting which saw 15 new stocks included.

Firefinch was among the new names, and joined the index with a portfolio weighting of 0.49%.

Shares in FFX, which released its interim full-year report earlier this morning, rose by as much as 15% during Monday trade to ~70c.

Joining Firefinch as an ASX-listed debutante in the latest ETF re-weighting was WA-based miner Westgold Resources (ASX:WGX), which was assigned a portfolio allocation of 0.37% (~$16.28m).

Shares in WGX were up by around 4% in Monday trade.

Of the 18 ASX-listed companies in the ETF, Evolution Mining (ASX:EVN) makes up the largest portfolio weighting at 4.52%.

That marks the second-highest weighting behind Canada-based Pan American Silver Corp (5.47%).

WGX, EVN share price charts

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