There are two general types of ETFs that track the metals and mining sector. There are ETFs that invest in mining companies and there are ETFs that invest directly in physical metals.
The most common ETFs that track the metals and mining sector are:
Precious Metals
A fund that invests in a basket of several precious metals is the ETFS Physical PM Basket (NYSE:GLTR,) which aims to replicate the return of physical gold, silver, platinum and palladium.
Gold
The SPDR Gold Trust (GLD) invests in physical gold and hosts returns that have historically matched the precious metal closely. The Market Vectors Gold Miners ETF (GDX) invests in gold mining companies and uses the NYSE Arca Gold Miners Index as a benchmark.
Also available and commonly traded are more exotic ETFs that offer returns leveraged to the price of physical gold or returns inverse to the price of gold. The ProShares Ultra Gold (UGL), which seeks to double the return of bullion and the ProShares UltraShort Gold (GLL), which seeks to provide double inverse bullion performance, are examples of types of these sophisticated ETFs.
Silver
The largest and most popular silver ETF is the iShares Silver Trust (SLV), which holds the objective of matching the return of physical silver. The Global X Silver Miners ETF (SIL) invests in silver mining companies and seeks to meet or exceed the returns of the Solactive Global Silver Miners Index.
A short silver ETF option exists with the ProShares UltraShort Silver (ZS). This ETF seeks to double the inverse performance of the price of physical silver.
Platinum
An ETF that aims to match returns offered by investing in physical platinum is the ETFS Physical Platinum (PPLT). An ETF that invests in the shares of platinum mining companies is First Trust ISE Global Platinum ETF (PLTM,) which uses the ISE Global Platinum Index as a benchmark.
Palladium
A closely related trust, rather than a fund, with returns linked to investing in physical palladium is offered by the ETFS Physical Palladium trust (PALL). The trust seeks to match the performance of the price of physical palladium.
Base Metals
A popular base metals ETF with assets of over $220 million is the PowerShares DB Base Metals ETF (DBB). The fund tracks the performance of the Deutsche Bank Liquid Commodity Index – Optimum Yield Industrial Metals Excess Return.
Copper
Though it is technically a note and not a fund, the iPath DJ-UBS Copper SubTR ETN (JJC) aims to match the performance of an un-leveraged futures position in copper and is the largest and most actively traded copper ETF.
There are two copper mining ETFs that are popular with investors: the Global X Copper Miners ETF (COPX), which seeks to replicate the performance of the Solactive Global Copper Miners Index and the First Trust ISE Global Copper ETF (CU), which tracks the ISE Global Copper Index.
Nickel
The most commonly traded pure Nickel ETF is the iPath DJ-UBS Nickel SubTR ETN (JJN). Technically, this is a note and not an ETF. The ETF seeks to track the performance of an un-leveraged position in nickel futures.
Steel
The $69 million Market Vectors Steel ETF (SLX) seeks to replicate the performance of the NYSE Arca Steel Index.