The funds objective is to replicate the performance of the NYSE Arca Gold BUGS Index. The Index is comprised of shares of gold mining companies. Index membership is restricted to those companies that do not protect against movements in the price of gold for periods longer than 1.5 years, meaning their share prices tend to move closely in line with the price of gold. Companies are screened by share price and number of shares issued, as well as tradability of shares. The two largest companies in the Index are assigned a weight of 15% and the third largest company a weight of 10%, the remaining companies in the Index are given equal percentage weights. Income is reinvested into the fund.
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