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<keyword id="4551565" type="General" weightage="50" keywordseo="edelweiss-asset-management-ltd" source="Orion">Edelweiss Asset Management Ltd</keyword> has launched 'Edelweiss Gold and <keyword id="14800318" type="General" weightage="100" keywordseo="silver-etf-fund-of-fund" source="Orion">Silver ETF Fund of Fund</keyword>', which will open for subscription today and closes on September 7.<br /><br />"Edelweiss Gold and Silver ETF Fund of Fund is suitable for investors seeking to invest in asset classes that can aid portfolios during the downturn. It can help investors offset the volatility in their equity portfolios. Both metals have underperformed in recent times and the dollar index, which has an inverse correlation with gold and silver, may weaken in the near term, hence, it could be a good time to invest in gold and silver at this point in time," said <keyword id="144969" type="General" weightage="80" keywordseo="radhika-gupta" source="Orion">Radhika Gupta</keyword>, <keyword id="14800319" type="General" weightage="20" keywordseo="md-ceo-edelweiss-asset-management-limited" source="Orion">MD &amp; CEO Edelweiss Asset Management Limited</keyword>.<br /><br />Gold and silver have proven to be popular investment tools in current times as they offer a hedge against inflation.<br /><br />These precious metals also have a low correlation with equities and therefore offer you better diversification. Compared to physical gold and silver, the <keyword id="6354820" type="General" weightage="50" keywordseo="mutual-fund" source="Orion">Mutual Fund</keyword> structure offers greater convenience, affordability, and liquidity.<br /><br />A mix of gold and silver is ideal as gold performs well during the recession while silver outperforms during precious metal bull rallies.<br /><br />Both provide a good hedge against inflation in the long run and have low correlations with equities.<br /><br /><br /><strong>SEE ALSO :<br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/brick-and-mortar-retailers-are-growing-and-fuelling-e-retail-growth-too/articleshow/93749847.cms">Brick and mortar retailers are growing and fuelling e-retail growth too</a><br /><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/asus-zenbook-s-13-oled-review-a-sleek-all-purpose-ultrabook-at-a-premium/articleshow/93749502.cms"><strong>Asus Zenbook S 13 OLED review – a sleek all-purpose ultrabook at a premium</strong></a>

Edelweiss AMC's gold and silver ETF Fund of Fund opens for subscriptions today

<ul class="summary-list"><li>You can buy <keyword id="35264" type="COMPANY" weightage="60" keywordseo="silver">silver</keyword> in two basic ways: physical bullion (bars, coins) or silver-backed securities (stocks, funds, <keyword id="10018057" type="UNKNOWN" weightage="60" keywordseo="etns">ETNs</keyword>).</li><li>While bullion is a "purer," more direct way to own silver, securities are easier to hold and can appreciate.</li><li>Silver offers a long-term hedge against inflation and stocks, but also benefits from certain industries' growth.</li></ul><p>Savvy investors often step outside the comfort zone of conventional paper investments - stocks, bonds, and funds - and into more exotic, hard assets. Silver is one such. Like other <a href="https://www.businessinsider.com/what-are-alternative-investments" target="_blank" rel="noopener">alternative investments</a>, it often performs in an opposite way to traditional securities: its price rising when theirs falls, and vice versa. So it can be an invaluable way to <a href="https://www.businessinsider.com/what-is-diversification" target="_blank" rel="noopener">diversify</a> a portfolio.</p><p>Silver is more than a stock market hedge, though. As a physical commodity, it has an intrinsic value, which means it's immune to inflation - the rise in prices that erodes the value of paper, government-issued currencies. Given its inherent worth, some investors also see it as a safe haven against political and economic turmoil, similar to its more glamorous cousin, <a href="https://www.businessinsider.com/how-to-buy-gold" target="_blank" rel="noopener">gold</a>. </p><p>But silver is much more affordable than its yellow-metal cousin. Also, unlike <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword>, silver is valued for its widespread <a href="https://markets.businessinsider.com/news/stocks/metal-commodity-price-outlook-silver-platinum-outperform-gold-ubs-precious-2021-1-1029961646" target="_blank" rel="noopener">industrial uses</a> - including innovative, high-growth tech industries like solar energy and electric autos. </p><p>All these factors have precious metal experts like <a href="https://www.linkedin.com/in/giancarlo-camerana-958517a/?originalSubdomain=ch" target="_blank" rel="noopener">Giancarlo Camerana</a>, a strategic advisor at <a href="https://qore.gold/" target="_blank" rel="noopener">QORE Switzerland</a> feeling optimistic about the performance of silver in the coming decade. What it comes down to, he says, is "a combination of bullish factors: increased demand from both the industrial sector and financial investors as they worry of the ongoing currency debasement and the possible dollar devaluation."</p><p>How <em>do</em> you invest in silver, anyway? Here's what interested investors should know.</p><h2>How to invest in silver</h2><p>There are a variety of ways to invest in silver. But for individual investors, the buying options boil down to two basic forms:</p><ul><li>Physical silver, or bullion (the most direct and obvious way to invest) </li><li>Silver securities, such as stocks, funds, and exchange-traded notes (less of a pure play, but more convenient)</li></ul><h2>Physical silver</h2><p>The physical metal is known as bullion. Investment-grade bullion typically refers to silver that's 99.9% pure. It comes in the following forms:</p><ul><li><strong>Bars </strong>- Bars consist of solid silver weighed by the troy ounce that's been poured or pressed into stamped blocks. They're available for purchase from reputable metals dealers like If you're starting here, aim for smaller ounce-counts, as they'll be easier to sell off if need be.</li><li><strong>Coins and rounds </strong>- forget about rare or collectible coins here, which have numismatic value beyond their silver content. We're talking solely about specie issued by government mints for investment purposes <em>only. </em>Some of the most <a href="https://www.gainesvillecoins.com/blog/what-is-silver-bullion">popular coins</a> include the Silver American Eagle, the Silver Canadian Maple Leaf, and the Austrian Silver Philharmonic. Rounds, as their name implies, are the same shape as coins, but not official legal tender.</li><li><a href="https://www.texmetals.com/products/silver-coins/junk-silver-bags" target="_blank" rel="noopener">Junk silver bags</a> - These are bags of dimes, quarters, and half-dollars issued by the United States Mint prior to 1965, at which point it switched from using silver in its coinage to other alloys. Anything minted before that time could be upwards of 90% silver, so while it has no collectible value (thus the term "junk"), it does have a value based on its purity.</li></ul><p>Bullion in its various forms is generally available from precious metals dealers. Be sure to look for a well-established one: <a href="https://www.jmbullion.com/silver/silver-bars/" target="_blank" rel="noopener">JM Bullion</a>, <a href="https://www.apmex.com/category/25800/junk-silver-coins-35-40-90-silver/all?vt=g&amp;utm_medium=cpc&amp;utm_campaign=&amp;utm_source=&amp;gclid=Cj0KCQiAgomBBhDXARIsAFNyUqMkdx1FMwzituxwDc3kxoWMi04ZLEh1BhNZaR3lEsDP37GFgY3zO7EaAlbbEALw_wcBO7EaAlbbEALw_wcB" target="_blank" rel="noopener">APMEX</a>, and <a href="https://sdbullion.com/" target="_blank" rel="noopener">SD Bullion</a> are among the most reputable. Many banks also sell silver bullion. </p><h2>Silver stocks</h2><p>You can invest in individual stocks that give you exposure to the silver industry. There are two major types of silver companies:</p><ul><li><strong>Silver mining stocks</strong><em> - </em>Also called "<a href="https://markets.businessinsider.com/news/stocks/silver-miners-stocks-reddit-first-majestic-wheaton-precious-pan-american-2021-2-1030028701" target="_blank" rel="noopener">silver miners</a>", these are stocks that invest in every stage of silver production, from exploration to refining. So when production is soaring, so are the prospects for these companies - and vice versa, of course. For silver stocks, Camerana recommends Pan American Silver (<a href="https://markets.businessinsider.com/stocks/paas-stock" target="_blank" rel="noopener">PAAS</a>) and Fresnillo (<a href="https://markets.businessinsider.com/commodities/news/fresnillo-shares-drop-on-lower-gold-output-forecast-9741958" target="_blank" rel="noopener">FRES:LSE</a>) , the world's largest silver mining company, which is listed in London. Other major players include Endeavor Silver Corp. (<a href="https://markets.businessinsider.com/stocks/exk-stock" target="_blank" rel="noopener">EXK</a>) and Fortuna Silver Mines (<a href="https://markets.businessinsider.com/stocks/fsm-stock" target="_blank" rel="noopener">FSM</a>).</li></ul><ul><li><strong>Silver streaming company stocks</strong> - Instead of digging themselves, some companies make an agreement to <a href="https://www.wheatonpm.com/streams/default.aspx"><em>finance</em> a mining project</a> in exchange for a portion of future profits, which are then meted out to shareholders. <a href="https://markets.businessinsider.com/news/stocks/first-majestic-acquires-silver-stream-on-first-mining-s-springpole-project-1029300031">First Majestic Silver Corp</a>. (<a href="https://markets.businessinsider.com/stocks/ag-stock">AG</a>) is one of the largest streaming companies.</li></ul><p>You can buy silver stocks as you would shares of any company, via a brokerage, investment app, or online trading platform. </p><h2>Silver ETFs and Mutual Funds</h2><p>Instead of relying on a single stock, you can also invest in an exchange-traded fund (<a href="https://www.businessinsider.com/personal-finance/what-is-an-etf-exchange-traded-fund">ETF</a>) or mutual fund that bundles together multiple silver-related assets. Some contain shares of silver company stocks, while others invest in the metal itself or in futures contracts.</p><p>ETFs and mutual funds are purchased through brokers or trading apps, or through the investment companies that sponsor them.</p><h2>Leading silver ETFs and what they invest in</h2><ul><li> iShares Silver Trust (<a href="https://markets.businessinsider.com/etfs/ishares-silver-trust-us46428q1094">SLV</a>) (physical silver)</li><li>Global X Silver Miners (<a href="https://markets.businessinsider.com/etfs/global-x-silver-miners-etf-us37954y8488">SIL</a>) (silver stocks)</li><li>Aberdeen Standard Physical Silver Shares ETF (<a href="https://markets.businessinsider.com/etfs/aberdeen-standard-physical-silver-shares-etf-us0032641088">SIVR</a>) (physical silver)</li><li>iShares MSCI Global Silver Miners ETF (<a href="https://markets.businessinsider.com/etfs/ishares-msci-global-silver-and-metals-miners-etf-us4642863272">SLVP</a>) (silver stocks)</li><li>Invesco DB Precious Metals Fund (<a href="https://markets.businessinsider.com/etfs/invesco-db-precious-metals-fund-us46140h5028">DBP</a>) (silver and gold futures)</li></ul><h2>Silver exchange-traded notes (ETNs)</h2><p>Among the most complex of the silver-centric investment options are exchange-traded notes (<a href="https://www.businessinsider.com/what-is-an-etn" target="_blank" rel="noopener">ETNs</a>) and exchange-traded <keyword id="35149" type="PERSON" weightage="60" keywordseo="commodities">commodities</keyword> (ETCs). They track an underlying asset (in this case the price of silver), like the funds, but the major difference is that ETNs and ETCs are actually debt instruments.</p><p>A silver ETN operates like a mix between a stock and a bond; when you own it, you own a debt rather than anything physical, which tempers your risk. When the note matures, you get a lump sum tied directly to the price of silver - if it's risen during your possession of the note, you'll see that as a return. </p><p>The silver ETC is similar, except that it actually holds physical silver as collateral, while the ETN just tracks silver's price moves.</p><p>Some investors prefer ETNs to ETFs. Both track an index, but ETFs respond more to market investor demand than they do the actual price of the asset. so sometimes ETF investors miss out on gains because the fund fails to accurately move with the underlying commodity - what's called a tracking error. With ETNs, the value is based directly (and solely) off the market price, so tracking errors are vastly reduced. </p><p>Among ETNs, the VelocityShares 3x Long Silver ETN (<a href="https://markets.businessinsider.com/etfs/velocityshares-3x-long-silver-etn-linked-to-the-sp-gsci-silver-index-er-us22542d2909" target="_blank" rel="noopener">USLV</a>) is one of the best-known. Others include the iPath Silver ETN (<a href="https://www.ipathetn.com/US/16/en/details.app?instrumentId=371397" target="_blank" rel="noopener">SBUG</a>) and the X-Links Silver Shares Covered Call ETN (<a href="https://markets.businessinsider.com/etfs/credit-suisse-x-links-silver-shares-covered-call-etn-us22542d4491" target="_blank" rel="noopener">SVLO</a>).</p><h2>What's the best way to invest in silver?</h2><p>Each silver investment method comes with its own advantages and risks.</p><p>Investing in bullion is traditionally vaunted as the purest form of investment: You own the actual metal, and it can be bought and sold for an amount equivalent to silver's market or <a href="https://markets.businessinsider.com/commodities/silver-price" target="_blank" rel="noopener">spot price </a>per ounce (plus a small mark-up - usually more for coins than bars). But storage and insurance costs mount quickly. </p><p>And bullion provides no interest or dividends. You can't appreciate any gains on your coins or bars until you actually sell them - hopefully for a higher price. Even then, there are transport costs and other fees to eat into returns. </p><p>Silver stocks, funds, and ETNs, on the other hand, add some sterling diversification to your portfolio without making you shell out for storage space. They're more liquid, trading daily as they do. And of course, there's the convenience of buying and keeping them in a regular investment account. "Paper silver," as Camerana calls these securities, are "an easy and often less-expensive way to get exposure" - especially if you opt for a silver ETF or mutual fund.</p><p>But they're an indirect investment. Just as with any company, a silver company's operating costs, reserves, and management all play a factor in its performance; so can the political and economic conditions in its native country. As a result, silver stocks can be volatile, exaggerating the already sharp price swings silver is prone to. </p><p>Even miners aren't always quite as pure a silver play as one might hope, as silver is often mined alongside or extracted from other metals. </p><h2>The financial takeaway</h2><p>What form of silver to invest in depends on your own desire for convenience and appreciation, and your risk tolerance. Owning silver bullion is the most direct, purest play. But owning silver-based securities is more economical and offers a chance at appreciation.</p><p>While it certainly <em>looks</em> like a promising moment for silver, with its industrial uses predicted to expand in the next decade, there are no guarantees. Silver is vulnerable to recession in ways that gold is not. If the tech industry begins to lag, silver prices will fall, which will hit you in your pocketbook whether you're invested in the physical metal, a silver streaming company stock, or anything in between.</p><p>Still, silver as a sliver of your portfolio makes sense anytime - as a diversifier, if nothing else. </p><h2>Related Coverage in <a href="https://www.businessinsider.com/investing-reference" target="_blank" rel="noopener">Investing:</a></h2><h3><a href="https://www.businessinsider.com/is-silver-a-good-investment" target="_blank" rel="noopener">Is silver a good investment? A beginner's guide to silver and the role it can play in your portfolio</a></h3><h3><a href="https://www.businessinsider.com/how-to-diversify-portfolio" target="_blank" rel="noopener">How to diversify your portfolio to limit losses and guard against risk</a></h3><h3><a href="https://markets.businessinsider.com/news/stocks/warren-buffett-bought-3500-tons-silver-made-thomas-kaplan-billionaire-2020-5-1029228443" target="_blank" rel="noopener">Warren Buffett bought 3,500 tons of silver in 1997. The purchase helped make Thomas Kaplan a billionaire.</a></h3><h3><a href="https://www.businessinsider.com/how-to-invest-in-gold" target="_blank" rel="noopener">Beginner's guide to investing in gold: The major ways to buy and trade gold, and the benefits and drawbacks of each</a></h3><h3><a href="https://www.businessinsider.com/how-to-invest-in-silver-advice-precious-metals-chris-blasi-2021-2" target="_blank" rel="noopener">A 20-year precious metals veteran breaks down why Reddit traders' silver squeeze fizzled out - and shares his best advice for investing in the commodity as a bull market remains intact</a></h3>

How to invest in silver, a precious metal that both diversifies your portfolio and rises with new tech industries

<ul><li><strong>Launch of the ProShares <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> Strategy ETF has been a wild success, with the fund being the fastest ETF ever to attract $1 billion in assets.</strong></li><li><strong>But that success is a double-edged sword and could hurt its investors, according to JPMorgan.</strong></li><li><strong>"Contango in the <keyword id="12053165" type="UNKNOWN" weightage="60" keywordseo="btc" source="Orion">BTC</keyword> futures curve can impose a drag on performance for these funds due to the futures carry cost," JPMorgan explained. </strong></li></ul><p>The ProShares Bitcoin Strategy ETF saw a surge in inflows when it launched last week, making it <a href="https://markets.businessinsider.com/news/currencies/proshares-bitcoin-futures-fund-fastest-etf-top-1-billion-aum-2021-10">the fastest ETF ever to reach $1 billion in assets.</a></p><p>But the futures-based ETF <a href="https://www.businessinsider.com/bitcoin-futures-etf-contango-crypto-bulls-sec-approval-gemini-bitwise-2021-10">has a big flaw</a> that could lead to lower returns for its investors if assets in the fund grow too large, <a href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a> said in a note last week.</p><p>That's because the ETF doesn't own bitcoin as its underlying asset. Instead, the ETF owns derivatives of bitcoin that try to match the return profile of the cryptocurrency through futures contracts. SEC Chairman Gary Gensler has resisted calls for approval of a spot <keyword id="11964437" type="UNKNOWN" weightage="60" keywordseo="bitcoin-etf" source="Orion">bitcoin ETF</keyword>, instead favoring the futures-based fund.</p><p>"Contango in the BTC futures curve can impose a drag on performance for these funds due to the futures carry cost/roll yield. This carry drag can be several times the products' management fees, and could become even larger if these products gather substantial assets, due to their market impact," JPMorgan explained.</p><p>To actively manage a portfolio of <keyword id="12272601" type="UNKNOWN" weightage="60" keywordseo="bitcoin-futures" source="Orion">bitcoin futures</keyword> that are closely correlated with the price movements of bitcoin, the ETF must continuously roll over bitcoin futures contracts to the next month just prior to expiration. This creates various trading costs and is less efficient than simply buying bitcoin and holding it, similar to what most gold and silver ETFs do. </p><p>According to JPMorgan, the average annual cost to roll over futures contracts was around 9% since mid-2019, nearly 10x the ProShares Bitcoin Strategy ETF's annualized expense ratio of 0.95%. That could leave investors disappointed with their returns as they could significantly lag behind those of bitcoin. </p><p>The bank said long volatility ETPs are a good example of how long-term returns can be eroded as costs associated with trading futures pile up. "The more investors position long, the more expensive it becomes to hold due to the ETFs' own market impact," JPMorgan said. </p><p>The ProShares Bitcoin Strategy ETF already owns about 25% of the open interest in bitcoin futures contracts, according to the bank, and the fund recently sought <a href="https://www.barrons.com/articles/bitcoin-etfs-cryptos-investors-51634920651">a waiver from the CME</a> to allow it to own more than the imposed limit of 4,000 futures contracts.</p><p>If the ETF doesn't get its waiver from the CME, it could ultimately stray from its futures strategy and invest in equities with exposure to <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> to better track the price of bitcoin, according to the funds prospectus. </p>

The red-hot new bitcoin ETF could get too big for its own good and warp the futures market, JPMorgan says

Exchange-Traded Funds (ETFs)

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Reuters</span></p></div><p></p></div></div></p><ul><li><strong>Millennials represent the fastest-growing segment of the exchange-traded fund (ETF) market, according to a survey conducted by BlackRock's iShares business.</strong></li><li><strong>Martin Small, the head of US iShares at BlackRock, which oversees more than $1 trillion, has some ideas why.</strong></li><li><strong>He also explains why baby boomers have been slow to adopt ETFs, and how they could be the next frontier of growth.</strong></li></ul><p><br />On the website for BlackRock <a href="https://www.ishares.com/us" target="_blank" rel="noopener">iShares</a> - the world's biggest provider of <a href="http://www.businessinsider.com/category/etfs" target="_blank" rel="noopener">exchange-traded funds</a> - there's an <a href="https://www.youtube.com/watch?v=vnQtJ80VJb4" target="_blank" rel="noopener">embedded video</a> that sticks out.</p><p>It features <a href="https://www.blackrock.com/investing/biographies/martin-small" target="_blank" rel="noopener">Martin Small</a>, who's responsible for more than $1 trillion as the firm's US head, holding an electric guitar. And in between impressive displays of shredding, Small makes an analogy between playing the instrument and investing in ETFs.</p><p>The connection is simple: ETFs give people unprecedented flexibility in creating portfolios, similar to how the chord combinations afforded by the electric guitar revolutionized music as we know it.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://www.etf.com/">ETF.com</a></span></p><p class="caption">Martin Small, head of US iShares at BlackRock</p></div><p></p></div></div></p><p>It's a fun three-minute segment - and that's the point. The video is part of a concerted effort by iShares to educate the public on ETF investing, with hopes they'll recognize its merits. And based on a recent survey conducted by the provider, it's working, especially with youngsters.</p><p>Roughly 42% of the <a href="http://www.businessinsider.com/category/millennials" target="_blank" rel="noopener">millennials</a> surveyed own ETFs, up from 33% last year, the biggest jump out of any category, according to a poll of more than 1,000 people conducted by iShares. Further, 85% of millennials surveyed said they're planning to buy ETF exposure in the next year.</p><p>These results would suggest that BlackRock and other fund providers have successfully tapped into the millennial market - the fastest-growing segment of the investment universe. So we decided to ask Small to explain why.</p><h2>'A natural level of comfort'</h2><p>The first part of his explanation deals with how closely intertwined the maturation of millennials has been with a period of rapid growth for ETFs - a market that saw combined US assets hit $3.3 trillion in November, a roughly $900 billion single-year increase, <span>according to </span><a href="https://www.ici.org/">Investment Company Institute</a><span> data.</span></p><p>Small points out that the funds have been around for as long as young potential investors may have had an eye on the market.</p><p>"ETFs are about as old as the world wide web, so millennials grew up with them," Small told Business Insider. "They've always been around, so there's just a natural level of comfort."</p><p>The second relates to an unfortunate reality facing millennials: they're the lowest-earning generation in modern history. This means that they have less money to invest, and a lower cost threshold when it comes to putting that capital to work. And while these factors may initially seem like deterrants, Small thinks cheap-by-comparison ETFs have actually been well-positioned to help youngsters invest.</p><p>"It's a generation that's always had to do more with less," he said. "With an ETF, you can put $100 to work if you want. There are very few mutual fund complexes with minimum investments lower than thousands of dollars."</p><p>Small also notes that ETFs have done an excellent job mirroring the indexes or strategies they track.</p><p>"ETFs have always kept their promises to millennials," he said. "They've always delivered the market return at low cost, and that's earned a tremendous amount of trust."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.ishares.com/us">iShares by BlackRock</a></span></p></div><p></p></div></div></p><h2>Boomers have been slow to adopt ETFs, but they could be the next frontier of growth</h2><p>As millennials make up the driving force of ETF adoption, their parents have been far more reluctant to take the plunge.</p><p>Only 27% of so-called "baby boomers" (aged 52-70) are invested in ETFs, the lowest out of any group, according to the iShares survey. Small says this is likely a byproduct of the huge sums of money sitting stagnant in retirement accounts that haven't yet been "ETF-ized," as he describes it.</p><p>He also thinks it's possible that boomers have been somewhat spoiled by the ongoing equity <a href="http://www.businessinsider.com/category/bull-market" target="_blank" rel="noopener">bull market</a>, which is now the second-longest on record.</p><p>"They've seen some of the largest names in the market produce super-normal returns," said Small. "That sense of being able to beat the market overhangs some of their thinking. You see less of that from the generations that are on either side."</p><p>But boomers are far from a lost cause, says Small. He points to the surprising growth in adoption by the so-called "silvers" group (aged 71+), of which 37% are invested in ETFs, almost double the previous year.</p><p>That spike in adoption is likely a result of silvers increasingly treating ETFs as viable retirement assets, says Small. And he predicts that as boomers start to liquidate their retirement accounts, their ETF adoption rates will see a similar surge.</p><p>"At the end of the day, ETFs are starting to become modular building blocks for retirees," he said. "They're becoming valuable retirement tools. It's a leading indicator of what we could see from boomers in the future."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-some-people-believe-the-world-is-flat-according-to-an-astronomer-2018-1">This is why some people believe the world is flat, according to an astronomer</a></h3>        <div>                    </div>    </div>

Millennials are leading an investment revolution - and we spoke to the head of a $1 trillion provider to find out why

<ul class="summary-list"><li><keyword id="35264" type="COMPANY" weightage="60" keywordseo="silver">Silver</keyword> jumped as much as 13% on Monday as amateur investors piled in, before slipping back slightly.</li><li>The so-called silver squeeze follows the Reddit-driven surge in <keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword> shares last week.</li><li>But the rally sparked controversy on <keyword id="334157" type="COMPANY" weightage="60" keywordseo="Reddit">Reddit</keyword>, with users saying GameStop should remain the target.</li></ul><p>The <a href="https://markets.businessinsider.com/commodities/silver-price">price of silver</a> on Monday jumped as much as 13%, to $30.35 per ounce, hitting an 8-year high. The surge pushed up shares of silver-mining companies and causing retail sites to limit trading amid the latest attempt of amateur investors to squeeze Wall Street.</p><p>Silver pared gains to trade 8% higher, at $29.01 per ounce, as of 11:45 a.m. ET in New York.</p><p>But the so-called silver squeeze proved controversial on the Reddit forum<a href="https://www.businessinsider.com/wallstreetbets-fastest-growing-subreddit-hits-58-million-users-2021-1"> Wall Street Bets.</a> Many users argued that the army of day traders should keep targeting<a href="https://markets.businessinsider.com/stocks/gme-stock"> GameStop shares</a> and not shift their sights elsewhere.</p><p>Last week, traders organizing themselves on Reddit<a href="https://www.businessinsider.com/how-wall-street-bets-subreddit-chose-gamestop-stock-2021-1"> realized their power</a> when they bid up GameStop shares by around 400%. The surge hit hedge funds and others who had been betting the price would fall, costing them more than<a href="https://www.businessinsider.com/short-sellers-sitting-on-19-billion-of-losses-on-gamestop-data-shows-2021-1"> $19 billion.</a></p><p>On Monday morning, the pivot towards other targets picked up speed, with the hashtag #silversqueeze trending on Twitter. Online financial personalities were cheering on day traders, with bitcoin investor<a href="https://twitter.com/cameron/status/1355927997916839946?s=20"> Cameron Winklevoss tweeting</a>: "If Silver market is proven to be fraudulent, you better believe Gold market will be next."</p><p>The <keyword id="432846" type="PERSON" weightage="60" keywordseo="silver-price">silver price</keyword> has risen around 16% over the last five days as Wall Street Bets members have encouraged each other to buy up the metal in the belief that major financial institutions are betting against it.</p><p><strong><em>Read more:</em></strong><a href="https://www.businessinsider.com/stocks-to-buy-silver-short-squeeze-stock-picks-rbc-2021-2"> <em>Buy these 4 stocks poised benefit from a spike in silver prices, says RBC Capital Markets - including two set to soar 73%</em></a></p><p>However, the latest<a href="https://www.cftc.gov/dea/futures/deacmxsf.htm"> data from the US regulator</a> showed money managers are on balance betting the price will rise.</p><p>BlackRock's<a href="https://markets.businessinsider.com/etfs/ishares-silver-trust-us46428q1094"> iShares Silver Trust</a> surged as much as 12% on Monday as retail investors piled into exchange-traded funds, which give them access to silver. iShares Silver, the world's biggest silver ETF, saw inflows of close to $1 billion on Friday.</p><p>Shares in companies in the industry jumped. Pan American Silver Corporation's shares rose 12.3% while miner Fresnillo's London shares climbed 9.8%.</p><p>Silver retail sites were left struggling to keep up with the demand. Money Metals said it would be limiting silver orders due to "extreme demand". APMEX said it was expecting processing delays of up to three days.</p><p>The move into silver was controversial on the Reddit forum Wall Street Bets, which has <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">driven the GameStop frenzy.</a> Some users noted that huge investment banks, and the hedge fund Citadel Advisors, were the biggest holders of the iShares Silver ETF.</p><p><strong><em>Read more:</em></strong><a href="https://www.businessinsider.com/stock-picks-to-buy-heavily-shorted-companies-overweights-wells-fargo-2021-1"> <em>Buy these 26 heavily shorted stocks as retail traders trigger wild rallies in Wall Street's least-liked names, Wells Fargo says</em></a></p><p>"By buying silver/going long on silver, you would be directly putting money into the pockets of the EXACT HEDGE FUNDS ON THE OTHER SIDE OF $GME," one user posted. Others said the Reddit army should focus their efforts on driving up the <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop share price</a>, which was down around 25% by mid-morning.</p><p>Adrian Ash, director of research at precious-metals platform BullionVault, told Insider: "The sudden inflow of money driving this spike will also need to be sustained and repeated if silver is going to run higher.</p><p>"The basis for Reddit's 'silver squeeze' is flimsy at best. Speculative short-selling in silver has been very tame in New Year 2021, and the commercial side of the industry will only grow its price-hedging the higher it goes. So there just isn't the structural opportunity which a heavily shorted small company might offer."</p>

Silver spikes 13% to 8-year high as Reddit day traders turn their buying power towards a fresh target

<p><strong></strong></p><ul><li><strong>Investors have piled into <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword> <keyword id="46594" type="PERSON" weightage="60" keywordseo="ETFs">ETFs</keyword> this year, flocking to the so-called safe-haven asset as the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic rages on. </strong></li><li><strong>Worldwide, holdings in gold ETFs gained to 3,365.6 tons Monday, <a href="https://www.bloomberg.com/news/articles/2020-08-04/gold-etfs-top-germany-s-holdings-to-become-world-s-no-2-stash?srnd=markets-vp&amp;sref=Zwwm81xn81xn">Bloomberg reported.</a> </strong></li><li><strong>That surpassed the number of tons held by Germany. Only the US government, which holds more than 8,000 tons in its reserves, has more of the commodity. </strong></li><li><strong><a href="https://markets.businessinsider.com/commodities/gold-price">Watch gold trade live on Markets Insider. </a></strong></li><li><strong><a href="https://www.businessinsider.com/">Read more on Business Insider. </a></strong></li></ul><p>Investors have piled so much money into <a href="https://markets.businessinsider.com/commodities/gold-price">gold</a> ETFs this year that only the US government holds more of the precious metal. </p><p>On Monday, worldwide holdings in gold-backed exchange-traded funds gained to 3,365 tons, <a href="https://www.bloomberg.com/news/articles/2020-08-04/gold-etfs-top-germany-s-holdings-to-become-world-s-no-2-stash?srnd=markets-vp&amp;sref=Zwwm81xn81xn">Bloomberg reported, citing preliminary data</a>. That surpassed the amount of gold that the country of Germany holds, and is second only to the US government, which holds more than <a href="https://fiscal.treasury.gov/reports-statements/gold-report/current.html">8,000 tons of the commodity in its reserves</a>. </p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/next-stock-market-crash-risks-after-coronavirus-vaccine-discovered-socgen-2020-7">A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for — and warns another stock-market meltdown is likely</a></em></p><p>Gold has rallied this year, up more than 31% through Monday's close as the coronavirus pandemic whiplashed global <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> and led to high uncertainty for the future. Those gains led to huge inflows for gold ETFs, according to the report. </p><p>Going forward, a number of Wall Street analysts expect that the precious metal could surge further and hit new highs. Goldman Sachs thinks that gold could top $2,300, while RBC Capital Markets says there's a 40% chance that the commodity rallies to $3,000, Bloomberg reported. </p><p>Investors may choose ETFs over holding the actual metal as the funds allow them to trade the commodity without needing to take physical delivery of it, according to the report. </p><p><div type="image" title="Screen Shot 2020 08 04 at 8.17.26 AM" height="906" width="1140" msid="77352493" hostid="261"></div></p>

Investors have piled so much into gold ETFs this year that only the US government has more

<p>As the exchange-traded world continues to expand, many investors find themselves asking the same questions about how these products work. Of course, not everyone is as vocal about their curiosities, leaving a number of unanswered questions in the space. In an ongoing effort to keep you educated about the ETF world, we mapped out ten questions you may have been too afraid to ask [see also <a href="http://etfdb.com/wp-content/uploads/2012/04/Free-Report-3.pdf">How To Pick The Right ETF Every Time</a>].</p>
<h3>1. What Is An ETF?</h3>
<p>It seems basic, but as <keyword id="46594" type="PERSON" weightage="60" keywordseo="ETFs">ETFs</keyword> continue to grow in popularity, more and more investors find themselves <a href="http://etfdb.com/2012/what-is-an-etf/">asking this question</a>. An ETF is basically an ownership stake in a pool of assets. When an investor buys an ETF share, he or she is buying a small percentage ownership of a large portfolio of stocks, bonds or other assets. ETFs allow a large number of investors to basically “share” in a larger, more diversified portfolio than they could assemble on their own.</p>
<h3>2. What’s the Difference Between ETFs and ETNs?</h3>
<p>While both are prominent structures for exchange-traded products, there are several differences between ETFs and ETNs that investors should know before investing. First off, ETNs are debt instruments and are at the credit risk of their issuer, whereas ETFs do not face this issue. While it is rare for an ETN to suffer from credit risk, it is worth noting that Lehman Brothers had several ETNs at the time of their demise in 2008.</p>
<p>Next comes taxes. ETNs will always issue a 1099, as will most ETFs. But certain ETFs, like those that hold futures, will issue a pesky K-1 come tax time. Also, ETNs are <a href="http://etfdb.com/2011/when-etns-are-better-than-etfs/">always taxed</a> at 15% for long-term capital gains and 35% for short-term capital gains; this figure often varies for ETFs. It is also worth noting that ETFs can exhibit tracking error, while ETNs will never incur this issue. Finally, as a debt instrument, ETNs will mature one day and liquidate, by design, back to shareholders. The <a href="http://etfdb.com/2011/when-structure-matters-etf-etn-or-other/">structure of a product</a> has a huge impact on its exposure.</p>
<h3>3. What is Tracking Error?</h3>
<p>Tracking error, simply put, is the delta between the performance of an ETF and the change in the underlying index. Perhaps the simplest source of tracking error is the expense ratio of an ETF; funds operating at full efficiency can be expected to trail their underlying index by a margin equal to the bottom line fees charged. Indexes are hypothetical measures of performance that are not directly investable–there is no associated management fee or other expense components.</p>
<p>Sometimes the culprit is thin trading volume, as some products can go days without trading, which does not allow their price to accurately reflect the index at the current time. Other times a rebalancing of the underlying index may mean that the fund does not have enough time to catch up. Read more on <a href="http://etfdb.com/2011/why-etf-tracking-error-occurs-and-how-to-avoid-it/">how tracking error is caused</a> and how to beat it.</p>
<h3>4. What Happens When an ETF Shuts Down?</h3>
<p>As more and more ETFs hit the market, it is inevitable that some will be forced to close their doors. It costs money to run an ETF and after a certain point it becomes too expensive for an issuer to keep the product open. An ETF closing is not cause for panic; you’ll have the opportunity to either sell your shares prior to the delisting or to receive your share of cash proceeds. That may be less than optimal; the sale may trigger some tax liabilities, and there are costs associated with redeploying capital. But overall, an ETF closure isn’t really a big deal. Read more about how to <a href="http://etfdb.com/2011/how-to-deal-with-etf-closures-qa-with-paul-weisbruch/">handle closures</a>.</p>
<p>google.load('visualization', '1', {packages: ['corechart']}); function drawVisualization() { // Create and populate the data table. var data = google.visualization.arrayToDataTable([ ['Year', 'Launches', 'Closures', ], ['2009', 137, 56, ], ['2010', 231, 49, ], ['2011', 310, 38, ], ['2012', 177, 104, ], ]); // Create and draw the visualization. new google.visualization.ColumnChart(document.getElementById('visualization74221')). draw(data, {title:"ETF Launches and Closures By Year", width:600, height:400, hAxis: {title: "Year"}} ); } google.setOnLoadCallback(drawVisualization);</p>
<h3>5. What’s Up With Leveraged ETFs?</h3>
<p>Leveraged ETFs and ETNs have been the subject of much debate over the past few years. Many will look at the long-term performance of a leveraged product versus its underlying index, and be left scratching their heads when the returns do not exactly line up with the leverage the fund presented. It is all based on the reset frequency of the product, and most leveraged funds reset daily. This means that the fund is only designed to provide its levered exposure for one trading session, not over a long period of time.</p>
<p>There are some monthly resetting products and some that never reset, but daily leverage is the most popular option currently available. <a href="http://etfdb.com/2011/lessons-from-the-leveraged-silver-etf-agq/">This article</a> takes an in-depth look at reset frequencies and why these trading products are so misunderstood.</p>
<h3>6. Does Weighting Methodology Really Matter?</h3>
<p>Absolutely. There are many different strategies that encompass the ETF space: equal, RAFI, earnings, revenue, dividend and AlphaDEX are just a few of the methodologies that have struck a chord with investors. The weighting of your fund makes a fundamental difference to the performance of the fund. Take the S&amp;P 500 for example; below we compare the performance of several different funds that all put a different spin on the popular index.</p>
<table id="portfolioreturn" align="center">
<tbody>
<tr><th colspan="3">Alternative Weighting At a Glance</th></tr>
<tr>
<td><strong>ETF</strong></td>
<td><strong>Weighting</strong></td>
<td><strong>2012 Return</strong></td>
</tr>
<tr>
<td style="text-align: left;">SPDR S&amp;P 500 (<a href="http://etfdb.com/etf/spy/">SPY</a>)</td>
<td>Market Cap</td>
<td style="text-align: center;">15.99%</td>
</tr>
<tr>
<td style="text-align: left;">Large Cap Fund (<a href="http://etfdb.com/etf/RWL/">RWL</a>)</td>
<td>Revenue</td>
<td style="text-align: center;">17.91%</td>
</tr>
<tr>
<td style="text-align: left;">Earnings 500 Fund (<a href="http://etfdb.com/etf/EPS/">EPS</a>)</td>
<td>Earnings</td>
<td style="text-align: center;">14.58%</td>
</tr>
<tr>
<td style="text-align: center;">LargeCap Dividend Fund (<a href="http://etfdb.com/etf/DLN/">DLN</a>)</td>
<td>Dividend</td>
<td style="text-align: center;">12.74%</td>
</tr>
<tr>
<td style="text-align: left;">FTSE RAFI US 1000 (<a href="http://etfdb.com/etf/PRF/">PRF</a>)</td>
<td>RAFI</td>
<td style="text-align: center;">16.80%</td>
</tr>
<tr>
<td style="text-align: left;">S&amp;P Equal Weight ETF (<a href="http://etfdb.com/etf/RSP/">RSP</a>)</td>
<td>Equal</td>
<td style="text-align: center;">17.16%</td>
</tr>
<tr>
<td style="text-align: left;">Equal Sector Weight ETF (<a href="http://etfdb.com/etf/EQL/">EQL</a>)</td>
<td>Equal Sector</td>
<td style="text-align: center;">14.43%</td>
</tr>
</tbody>
</table>
<p>As is clearly evidenced above, though these funds all track the same parent index, the way they slice and dice the holdings makes a big difference on bottom line returns. Check out a more in-depth explanation of the <a href="http://etfdb.com/wp-content/uploads/2011/12/Alternative-Weighting-Methodologies-Webinar.pdf">various alternative weighting methodologies</a>.</p>
<h3>7. Does a Slight Difference in Fees Matter?</h3>
<p>While it may seem like a minute difference, a couple of basis points over time can be a big deal. The ETF industry seems to pride itself on offering the most competitive prices for investors, as a battle of cost-cutting has ensued in the past few years. As a result, some funds, like VWO, have been able to outdo competitors that track similar holdings. One popular comparison comes between two physical gold ETFs, the iShares COMEX Trust (<a href="http://etfdb.com/etf/IAU/">IAU</a>) and SPDR Gold Trust (<a href="http://etfdb.com/etf/gld/">GLD</a>); the former charges 0.25% and the latter 0.40%.</p>
<p>Consider two different million dollar portfolios, one which is wholly invested in GLD and the other doing the same for IAU (obviously a diversification nightmare, but stick with us). The GLD portfolio will incur annual expenses of $4,000, while its competitor will shell out only $2,500. That $1,500 difference seems minuscule for just one year, but drag it out over a 30-year investment and the difference between fees amounts to $45,000, or 4.5% of your original investment. Saving yourself a quick 4.5% could have been as simple as buying IAU over GLD. Read more about this <a href="http://etfdb.com/2011/cost-competition-inflows-surge-for-cheap-etfs/">cost battle</a>.</p>
<h3>8. How Are ETFs Treated Come Tax Season?</h3>
<p>The answer to this question depends entirely on the underlying exposure of the fund. Some products, like physical precious metals funds, are taxed as collectibles at 28%. Others are given the normal 15/35 treatment, and still others are subject to other rates. Investors will also want to note that structure will often dictate whether or not they are issued a K-1 or 1099 come tax time. Our <a href="http://etfdb.com/etfdb-category/large-cap-blend-equities/taxes/">comprehensive database</a> provides you will all of the tax information you will need to make an informed decision.</p>
<table align="center">
<tbody>
<tr><th colspan="3">ETFs That Issue A K-1</th></tr>
<tr>
<td><em><strong>Ticker</strong></em></td>
<td><em><strong>ETF</strong></em></td>
<td style="text-align: center;"><em><strong>Expense Ratio</strong></em></td>
</tr>
<tr>
<td style="text-align: left;"> <a href="http://etfdb.com/etf/AGQ/">AGQ</a></td>
<td style="text-align: left;">Ultra Silver</td>
<td style="text-align: center;"> 0.95%</td>
</tr>
<tr>
<td style="text-align: left;"> <a href="http://etfdb.com/etf/BNO/">BNO</a></td>
<td>United States Brent Oil Fund</td>
<td style="text-align: center;"> 0.75%</td>
</tr>
<tr>
<td style="text-align: left;"> <a href="http://etfdb.com/etf/BOIL/">BOIL</a></td>
<td>Ultra DJ-UBS Natural Gas</td>
<td style="text-align: center;"> 0.95%</td>
</tr>
<tr>
<td style="text-align: left;"> <a href="http://etfdb.com/etf/CANE/">CANE</a></td>
<td>Sugar Fund</td>
<td style="text-align: center;"> 1.00%</td>
</tr>
<tr>
<td style="text-align: left;"> <a href="http://etfdb.com/etf/CMD/">CMD</a></td>
<td>UltraShort DJ-UBS Commodity</td>
<td style="text-align: center;"> 0.95%</td>
</tr>
<tr>
<td style="text-align: left;"> <a href="http://etfdb.com/etf/CORN/">CORN</a></td>
<td>Corn Fund</td>
<td style="text-align: center;"> 1.42%</td>
</tr>
<tr>
<td colspan="3"><a href="http://etfdb.com/2012/etf-tax-tutorial-complete-list-of-etfs-that-issue-a-k-1/"><em>See the full list here</em></a></td>
</tr>
</tbody>
</table>
<h3>9. Why Invest in an Index?</h3>
<p>Gone are the days when active management was the best decision for investors. Actively-managed mutual funds consistently fail to beat the market; nearly 86% of the time when expenses are factored in. Index funds provide investors with a better long-term exposure and at a much lower cost to boot. While there certainly are individuals who can beat the market, studies have proven over and over that index funds outperform their competitors the vast majority of the time.</p>
<h3>10. Are ETFs Better Than Mutual Funds?</h3>
<p>Better is not the right term to use in this situation, despite how frequently this question is asked. Every product is different depending on your objectives, but there are a number of factors that set ETFs apart from their mutual fund counterparts. ETFs are cheaper, more transparent, allow for margin buying and short selling, and offer more control over capital gains, for starters. The list of differences goes on and on, but at the end of the day the only person who can decide which product is better is you. Take a look through some of the <a href="etfdb.com/2009/etfs-vs-mutual-funds-five-trends-show-that-etfs-are-winning/">key differences between these two investment vehicles</a>.</p>
<p>[For more ETF analysis, make sure to sign up for our <a href="http://etfdb.com/newsletter/">free ETF newsletter</a> or try a <a href="http://etfdb.com/pro/">free seven day trial to ETFdb Pro</a>]</p>
<p><em>Disclosure: No positions at time of writing.</em></p>
<p><a href="http://etfdb.com/2013/10-questions-about-etfs-youve-been-too-afraid-to-ask/">Click here to read the original article on ETFdb.com.</a></p>
<p> </p>
<p><strong>Read more posts on <a href="http://etfdb.com">ETF Database »</a></strong></p>

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