Performance data is updated to 31 May 2026.
Betashares Global Gold Miners Currency Hedged ETF (MNRS) — Review & Analysis
MNRS tracks the NASDAQ Global Gold Miners Hedged Index — global gold mining companies with the AUD/USD effect neutralised. AUM is $295.62 million and the management fee is 0.57% p.a. The largest holdings include Newmont, Barrick, Agnico Eagle and Wheaton Precious Metals. Compare MNRS alongside the full miner and bullion cohort on our commodities and resources ETF page.
The MNRS vs GDX comparison comes down to currency. GDX is unhedged — investors get the miner returns plus the FX move stacked together. MNRS hedges the FX away and delivers only the miner performance in AUD terms.
When the USD rallies against AUD, GDX typically outperforms MNRS; when the USD weakens, MNRS outperforms. Fee differential is small (4bp) — the FX view is the main driver of which to choose between them.
Gold miners are operationally leveraged to the gold price and can swing 2-3x as much as bullion in both directions. The hedged vs unhedged ETFs guide covers the framework for currency hedging decisions across categories.
Performance (% return)
Investment Focus
Themes
Exposure Regions
Portfolio Breakdown
| Company Name | % assets |
|---|---|
| BARRICK GOLD CORP | 9.10% |
| NEWMONT CORP | 9.00% |
| WHEATON PRECIOUS METALS CORP | 8.50% |
| AGNICO EAGLE MINES LTD | 7.60% |
| ANGLOGOLD ASHANTI PLC | 6.00% |
| FRANCO-NEVADA CORP | 4.60% |
| KINROSS GOLD CORP | 4.20% |
| ZIJIN MINING GROUP CO LTD | 4.00% |
| PAN AMERICAN SILVER CORP | 3.60% |
| GOLD FIELDS LTD | 3.50% |
| Sector | % assets |
|---|---|
| Gold | 82.3% |
| Precious Metals & Minerals | 9% |
| Silver | 8.5% |
| Diversified Metals & Mining | 0.2% |
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Comparing Gold & Precious Metal ETF Options on the ASX: A 2026 Guide for Australian Investors
Gold and precious metals have been shining stars in portfolios amid 2026's volatile markets. With geopolitical tensions, inflation concerns, and a booming commodity cycle, many Aussies are turning to ETFs for easy, low-cost exposure. But with over a dozen gold-focused options on the ASX, which one fits your strategy?
Similar ETFs
| Stock | Name | 1 Year % |
|---|---|---|
| QAU | Gold Bullion Currency Hedged ETF | +34.36% |
| GHLD | Global X Gold Bullion (Currency Hedged) ETF | +33.93% |
| GOLD | Global X Physical Gold | +22.27% |
| PMGOLD | Perth Mint Gold | +22.50% |
| ETPMAG | Physical Silver | +103.79% |
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Last updated: January 2026
