Steel ETF Gets Bent Out of Shape by Coronavirus

The Steel ETF, trading under ticker SL, has been significantly impacted by the coronavirus, with a notable decline in steel prices due to China's record inventories. The fund's assets have decreased to $50 million from a peak of over $400 million in 2010. It tracks an index of global companies in steel production and iron ore processing, with major holdings in the US, Brazil, and Europe. Despite trailing the S&P 500 since its 2006 launch, it has outperformed the Bloomberg Commodity Index. The fund has an expense ratio of 56 basis points and is rated positively by Bloomberg Intelligence.

What major global event caused the Steel ETF to experience a downturn?

• The financial crisis of 2008

• The coronavirus pandemic

• The US-China trade war

• The Brexit vote

Which country holds the largest portion of the Steel ETF's assets?

• Brazil

• United States

• India

• China

Which of the following companies is NOT mentioned as a top holding in the Steel ETF?

• Vale

• Rio Tinto

• Ternium

• Nucor

Since its launch, how has the Steel ETF performed compared to the S&P 500?

• It has outperformed the S&P 500

• It has matched the S&P 500

• It has trailed the S&P 500

• It has no correlation with the S&P 500

What is the expense ratio of the Steel ETF?

• 100 basis points

• 75 basis points

• 56 basis points

• 25 basis points