Is WIRE a good ETF?
WIRE is the Global X Copper Miners ETF from Global X. It tracks the Solactive Global Copper Miners Index. We classify it under Intl, Thematic, and Commodities. With about $826 million in assets it is a solidly established fund. Listed on the ASX since 2021-08-12 (about 5 years ago).
On a total-return basis, WIRE has delivered 24.05% a year over 3 years (ranked 16th of 226 ETFs we track) and 72.25% a year over 1 year (ranked 3rd of 308 ETFs we track). Its strongest showing is over 1 year, where it sits in the top 1% of all ETFs we track.
The management fee of 0.65% is on the higher side. For comparison, similar ETFs average around 0.46%. If cost is your priority, QRE (0.34%), CPPR (0.39%), and ETPMAG (0.49%) cover similar ground for less. It pays a moderate 3.26% yield.
Over the past 3 years its volatility has been high (annualised standard deviation around 27.91%), meaning a bumpy ride with deep drawdowns. Its 3-year Sharpe ratio of 0.77 is reasonable — that's the return it has earned per unit of risk taken (higher is better).
Portfolio turnover is modest at about 20% a year — it reshuffles a meaningful but still limited part of the portfolio annually, which keeps the tax and trading drag manageable.
Strengths
- Top-1% returns over 1 year (3rd of 308 ETFs we track).
Things to watch
- Pricier than similar ETFs, which average around 0.46%.
- Cheaper alternatives exist: QRE, CPPR, and ETPMAG.
- High volatility (27.91% over 3 years) — expect deep drawdowns.
- Highly concentrated single-theme bet — keep the position size small.
What WIRE's categories mean for you
How each category this ETF belongs to tends to behave across market cycles.
Global and international shares from outside Australia — broadening you into thousands of companies and the sectors (tech, healthcare) the local market lacks.
- Market regime
- Essential diversification away from the bank-and-resources-heavy ASX. Unhedged versions carry currency risk; hedged versions remove it at a small cost.
- In a portfolio
- A core holding for almost every long-term Australian portfolio.
A concentrated bet on a single trend — AI, battery tech, cybersecurity, robotics and the like. High conviction, high concentration, and often high fees.
- Market regime
- Frequently launched after a theme is already hot, which has historically been a poor entry point. Expect very large swings in both directions.
- In a portfolio
- A small satellite position at most. Treat it as a speculative tilt, never as a core holding.
Exposure to physical commodities (gold, silver, oil) or the companies that produce them. A portfolio diversifier and a classic inflation hedge.
- Market regime
- Gold in particular tends to shine during crises, high inflation and falling real interest rates. Commodities generate no yield or earnings and can trend sideways for years.
- In a portfolio
- A tactical or satellite allocation for diversification and inflation protection — not a long-term compounding engine.
General information only, generated from the fund's published data — not personal financial advice. Past performance is not a reliable indicator of future returns. Consider your own circumstances or seek licensed advice before investing.