Industry: Precious Metals (Gold, Silver, Platinum, Palladium)

TOP 3 Markets:

1. USA: approximately 40%
2. Europe: approximately 30%
3. Asia: approximately 20%

The abrdn Precious Metals Basket ETF invests in physical precious metals, so the "revenues" in the traditional sense do not come from industries, but from the performance of the held metals. However, the demand for these metals is strongly influenced by the markets mentioned above, with the USA, Europe, and Asia having the largest shares of demand and thus of price development. The percentage shares are estimates based on typical market shares for precious metal investments.

Production Sites: Not applicable

The abrdn Precious Metals Basket ETF, also known as abrdn Physical Precious Metals Basket Shares ETF (ARCA:GLTR), is an exchange-traded fund (ETF) that invests in physical precious metals. As a financial product, the ETF itself does not produce any physical goods and therefore has no production sites. Instead, the ETF holds physical precious metals such as gold, silver, platinum, and palladium in vaults to secure the fund's value. The storage of these metals typically takes place in secure facilities operated by specialized custodians.

Current Strategy: Diversification and Hedging

The abrdn Precious Metals Basket ETF, traded under the ticker symbol GLTR, follows a strategy aimed at diversification and hedging. The fund invests in physical precious metals, including gold, silver, platinum, and palladium, to provide investors with broad coverage of the precious metals sector.

Future Growth Strategy:

1. Expansion of Product Range: abrdn plans to expand its product range by introducing new ETFs focused on specific precious metals or combinations thereof to meet different investment needs.

2. Geographical Expansion: The fund could expand its presence in new markets, especially in regions with growing demand for precious metal investments, such as Asia and the Middle East.

3. Technological Integration: Utilizing technology to enhance transparency and efficiency in the management and trading of precious metals is another focus. This could be achieved through partnerships with fintech companies or the use of blockchain technology to track precious metal inventories.

These strategies aim to promote the fund's growth while providing investors with a stable and diversified investment opportunity.

Commodities/Materials: Gold, Silver, Platinum, Palladium

Main importing countries:

• Gold: South Africa, Russia, Canada
• Silver: Mexico, Peru, China
• Platinum: South Africa, Russia
• Palladium: Russia, South Africa, Canada

The abrdn Precious Metals Basket ETF invests in physical precious metals held in the form of bars. These metals are imported from various countries worldwide, which are among the largest producers. South Africa and Russia are significant sources of platinum and palladium, while Mexico and Peru are leading exporters of silver. Gold is often imported from countries like South Africa and Canada. The selection of importing countries is based on the availability and quality of the metals as well as trade relationships.

Market Share: Estimated at around 5-10% in the physical precious metal ETF sector (2026)
Cost Structure: Low management fees compared to competing products

The abrdn Precious Metals Basket ETF offers investors the opportunity to invest in a diversified basket of physical precious metals, providing a certain competitive advantage. The ETF benefits from broad diversification in gold, silver, platinum, and palladium, reducing the risk for investors and making it attractive.

Another advantage is the relatively low cost structure compared to other physical precious metal ETFs, making it appealing to cost-conscious investors. Management fees are a crucial factor for the net return of ETFs, and abrdn has a competitive position in this regard.

However, competition in this sector is intense, with several established providers offering similar products. The long-term success of the ETF will depend on how well it can compete against its rivals in terms of performance and cost structure.

Institutional Investor Share: Estimated at 70-75% (2026)

Insider Buys/Sells: No significant insider transactions known (2026)

The abrdn Precious Metals Basket ETF, traded on ARCA under the symbol GLTR, is a popular investment vehicle for institutional investors looking to invest in physical precious metals. The high proportion of institutional investors reflects the interest of pension funds, hedge funds, and other large financial institutions investing in metals as a hedge against market volatility and inflation.

Insider transactions are less relevant for ETFs as they typically do not have corporate management in the traditional sense. Therefore, there are usually no significant insider buys or sells that would need to be reported.

Market share of abrdn Precious Metals Basket ETF: Estimated around 5-7% (2026)

Top competitors and their market shares:

1. SPDR Gold Shares (GLD) - around 30%
2. iShares Gold Trust (IAU) - around 25%
3. Invesco DB Precious Metals Fund (DBP) - around 10%
4. Aberdeen Standard Physical Gold Shares ETF (SGOL) - around 8%
5. abrdn Precious Metals Basket ETF (GLTR) - around 5-7%
6. GraniteShares Gold Trust (BAR) - around 4%
7. VanEck Merk Gold Trust (OUNZ) - around 3%
8. Sprott Physical Gold and Silver Trust (CEF) - around 2%

Moat analysis:

The abrdn Precious Metals Basket ETF (GLTR) has a moderate moat, mainly characterized by its diversification into various precious metals. This provides investors with some risk diversification compared to ETFs that focus solely on gold. However, GLTR's market share is relatively low compared to the leading gold ETFs like SPDR Gold Shares and iShares Gold Trust, which have a stronger moat due to their size, liquidity, and brand recognition.

The major competitors, especially SPDR Gold Shares and iShares Gold Trust, have a significant advantage due to their market leadership, high trading volumes, and low cost structures. These factors make it challenging for smaller ETFs like GLTR to gain significant market share.

Overall, GLTR could offer a niche advantage through its diversification strategy, but compared to the leading gold ETFs, its moat is less pronounced.

Total assets of the ETF: $1.2 billion (2026, estimated)
Annual management fee: 0.60%
Share of gold holdings: 60%
Share of silver holdings: 25%
Share of platinum and palladium holdings: 15%

The abrdn Precious Metals Basket ETF (ARCA:GLTR) invests in physical precious metals, making it a potentially stable investment in times of economic uncertainty. The ETF offers diversification across multiple precious metals, with the largest share invested in gold, followed by silver, platinum, and palladium. This diversification can reduce the risk associated with the volatility of individual metals.

The annual management fee of 0.60% is moderate compared to other ETFs and could be attractive to investors looking for a cost-effective way to invest in precious metals.

Overall, the ETF could be a good investment for investors looking to hedge their portfolios against inflation or seeking stability in times of economic uncertainty. However, performance is highly dependent on global economic conditions and demand for precious metals.

Dividend: None

The abrdn Precious Metals Basket ETF (ARCA:GLTR) does not pay any dividends. This ETF is designed to track the price performance of a basket of physical precious metals, including gold, silver, platinum, and palladium.

Since the fund invests in physical precious metals, it does not generate any ongoing income that could be distributed to investors. Instead, investors benefit from the appreciation of the underlying metals. Dividends are uncommon with such commodity ETFs because they do not hold company shares that could generate income.