Gold-Mining ETF Outshines Bullion Fund as Haven Bet: Commodities

Investors seeking a hedge against a waning U.S. economic recovery and escalating conflict in Ukraine made twice as much money buying gold-mining shares rather than the metal the companies produce.

The Market Vectors Gold Miners ETF climbed 25 percent this year, more than double the 12 percent advance for the SPDR Gold Trust, the biggest exchange-traded product backed by bullion. This is the first quarter the company fund is outperforming the metal ETF since 2012. Assets in the producer fund expanded 6 percent in the past four weeks, compared with a 2.7 percent gain for the Gold Trust, data compiled by Bloomberg show.