CleaRank Financial AI • AI-powered analysis using real-time market data from TwelveData
Analysis reviewed by Jacob Bakshi, Senior Market Strategist. Data refreshed daily. Not financial advice.
The VanEck Steel ETF (SLX) is an exchange-traded fund focused on the global steel industry, including production, iron ore extraction, and related activities. As of October 2026, the ETF's price is $102.60, trading below its 20-day EMA of $104.19 and its 50-day SMA of $106.84, but above its 200-day SMA of $101.01. This technical positioning suggests short-term headwinds while maintaining a longer-term bullish bias. The fund's holdings are heavily concentrated in Basic Materials, accounting for 92.30% of its portfolio, with smaller allocations to Industrials (3.89%) and Energy (3.81%).
SLX at a glance
VanEck Steel ETF (SLX): Hold, 55/100 on CleaRank's AI score.
TrendMixed: the price is above its 200-day but below its 50-day moving average ($101.01 and $106.84).
FundExpense ratio 0.55%, $160.9M in net assets, +43.4% total return over 1 year.
As of October 14, 2026, VanEck Steel ETF (SLX) trades at $102.60. The nearest technical level is the 50-day moving average at $106.84; there is no analyst coverage. The 14-day RSI (daily closes) is 42, in neutral territory, and the price is below its 50-day simple moving average of $106.84.
Figures as of October 14, 2026.
Only on CleaRank
Figures we compute ourselves from SLX's own price history. Tap one to see it in context.
VanEck Steel ETF is an exchange-traded fund that provides focused exposure to the global steel industry. The fund seeks to track the performance of a steel-related index by investing in companies involved in steel production, iron ore extraction, processing, and related industrial activities. Its portfolio typically includes a mix of major steelmakers, mining companies, and materials businesses across developed and emerging markets.
Issuer
VanEck
Category
Natural Resources
Inception
Oct 10, 2006
Expense ratio
0.55%
Net assets
$160.85M
NAV
$103.56
Distribution yield
1.28%
YTD return
20.84%
Turnover
107.00%
Sector weights
Basic Materials92.3%
Industrials3.9%
Energy3.8%
Trailing total returns
Period
SLX
YTD
20.84%
1 month
-5.36%
3 months
3.69%
1 year
43.44%
3 years
19.21%
5 years
17.78%
10 years
16.65%
As of Oct 14, 2026, SLX has an expense ratio of 0.55%, $160.85M in net assets and a distribution yield of 1.28%.
Fund reference data as of Oct 14, 2026. Expense ratio and net assets are reported by the fund; returns are total returns and can differ from price change.
SLX Analysis
Key Trend Level+4.13% above price
The 50-day moving average (a technical level, not a price target)
$106.84
AI Analyst Consensus ScoreHold
The VanEck Steel ETF (SLX) is currently facing resistance at its 20-day EMA of $104.19 and its 50-day SMA of $106.84, with the price at $102.60. The 14-day RSI is at 41.55, indicating neutral momentum. The 200-day SMA at $101.01 is acting as support, suggesting that the longer-term uptrend remains intact despite recent price weakness. The Stochastic indicator is at 34.87, also pointing towards neutral conditions, not yet oversold. The Commodity Channel Index (CCI) at -48.79 suggests a slight bearish momentum but is not significantly oversold.
ProTips
Monitor the 200-day SMA at $101.01 as a key support level.
Evaluate the expense ratio of 0.55% in the context of potential returns.
Watch for signs of improving momentum as indicated by the RSI moving back above 50.
Market Outlook
The outlook for the VanEck Steel ETF (SLX) is cautiously optimistic, contingent on the broader economic environment and demand for steel. While the ETF is currently trading below its short-term moving averages, its position above the 200-day SMA suggests underlying strength. A sustained move above the 50-day SMA of $106.84 would signal a continuation of the longer-term uptrend. Conversely, a break below the 200-day SMA at $101.01 could indicate a more significant trend reversal. Investor sentiment towards cyclical sectors and infrastructure spending will be key drivers.
Market Correlations
How this etf moves relative to other assets
Based on 1 year of daily price data. Correlations may vary over different time periods.
S&P 500 (SPY)+0.69
Moderate correlation
Nasdaq 100 (QQQ)+0.63
Moderate correlation
Bitcoin (BTC)+0.30
Weak correlation
Gold (XAU)+0.37
Weak correlation
As of October 14, 2026, SLX's 1-year correlation of daily returns is +0.69 with S&P 500 (SPY), +0.63 with Nasdaq 100 (QQQ), +0.30 with Bitcoin (BTC) and +0.37 with gold (XAU).
Check Custom Correlation
How does any other asset move with SLX? One year of daily closes, Pearson correlation.
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Key Statistics
Net Assets
160.85M
Expense Ratio
0.5500%
Yield
1.28%
Day High
$102.60
Day Low
$102.60
52 Week High
114.00
52 Week Low
73.44
The VanEck Steel ETF (SLX) holds $160.85 million in net assets and has an expense ratio of 0.55%, translating to $55.00 per $10,000 invested. The fund's strategy is to track a steel-related index, providing concentrated exposure to the steel supply chain. Its portfolio is overwhelmingly focused on the Basic Materials sector (92.30%), indicating significant sector-specific risk. The fund's asset allocation is nearly entirely in stocks (99.97%). The high concentration in Basic Materials means the ETF's performance is closely tied to the cyclical nature of steel production and demand, influenced by global manufacturing and infrastructure trends.
Fund Performance Analysis
Its performance is driven by the earnings trends of companies within the steel industry. The sector's aggregate earnings are influenced by global demand for steel in construction, automotive, and manufacturing. Given the fund's focus, a downturn in these key end-markets would negatively impact the underlying holdings' profitability and, consequently, SLX's performance. The fund's YTD return of 20.84% suggests a strong performance from its constituents in the current year.
Key Risks
The primary risk for the VanEck Steel ETF (SLX) is its high concentration in the Basic Materials sector, specifically steel, making it vulnerable to sector-specific downturns and commodity price volatility. Its performance is closely linked to global economic activity and industrial production. Additionally, the ETF's expense ratio of 0.55% is relatively high for an ETF, which can impact long-term returns.
Technical Indicators i
RSI (14-day)
41.55
MACD (12, 26)
-1.11
SMA (50-day)
106.84
SMA (200-day)
101.01
Technical RatingBearish
RSI
Neutral
SMA Cross
Bullish
Price vs SMA
Bearish
MACD
Bearish
Golden Cross in effect with the 50-day SMA ($106.84) above the 200-day SMA ($101.01), price is trading below the 50-day SMA.
As of October 14, 2026, with SLX at $102.60, its 14-day RSI is 41.6 (neutral territory), its 50-day simple moving average is $106.84 and its 200-day is $101.01.
Calculated by CleaRank on daily closes as of October 14, 2026: Wilder's 14-day RSI, 50- and 200-day simple moving averages, MACD line (12, 26).
SLX Trade Plans
Specific entry, exit, and risk management levels
Select Your Trade Bias
Risk Tolerance
Conservative2%Aggressive
Portfolio Value
$
Position Size: Enter portfolio size →
Entry Strategies pick an entry style
Conservative
$101.57
Slight discount to current
Wait for small dip
Aggressive
$102.60
At current price
Enter now if confident
Risk Management
STOP LOSS
$98.53
MAX LOSS
-3.0%
Volatility-Adjusted Stop Loss
Calculated based on RSI (41.6) and current market volatility
These levels come from SLX's moving averages and recent volatility, not from a forecast. Educational levels, not financial advice; the full disclaimer is at the foot of the page.
Growth of $10,000
A $10,000 investment in SLX in October 2016 would be worth about $33,571 today, compared with about $36,506 for the same investment in the S&P 500 benchmark. This is price change only; dividends paid along the way would add to it.
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SLX Drawdowns & Recovery
Worst fall, last 10 years
-63.7%
January 2018 to March 2020
Recovery
11 months
back at the old peak by March 2021
From the 10-year high
-9.7%
highest close, June 2026
1-year holds that gained
64%
of every 1-year window
As of October 14, 2026, SLX's worst peak-to-trough fall over the last 10 years was -63.7% (January 2018 to March 2020); it regained that peak by March 2021, 11 months after the low, and 64% of 1-year holding periods ended with a gain.
From weekly closing values. A drawdown is the fall from the highest value reached so far to a later low.
Monte Carlo Projection (10yr)
CleaRank's 10-year Monte Carlo simulation projects that a $10,000 investment in SLX today could grow to about $22,963 by 2036 in the base case, with a 90th-percentile outcome near $80,324 and a 10th-percentile outcome around $6,565. The simulation models price only; at today's 1.28% yield, dividends would add to these figures. Projections are statistical simulations, not guarantees.
SLX 2030 Scenarios (Monte Carlo)
CleaRank's simulation projects a price near $143 for SLX by 2030 in the base case, from $103 today (1.4x over 4 years). The 10th-percentile path ends near $64.81. These are outcomes of a Monte Carlo simulation run on SLX's historical return distribution, not price targets, and they assume no dividends are reinvested.
SLX simulated price paths by year
Year
10th percentile
Base case
90th percentile
2027
$75.04
$111
$166
2028
$69.21
$121
$212
2029
$66.31
$132
$261
2030
$64.81
$143
$316
2031
$64.14
$155
$377
Method: a lognormal simulation of SLX's own volatility and capped historical trend, re-run daily; base case is the median path, the outer columns the 10th and 90th percentiles.
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Frequently Asked Questions
What is the expense ratio for the VanEck Steel ETF (SLX) and what does it cost per $10,000 invested?
The VanEck Steel ETF (SLX) has an expense ratio of 0.55%. This translates to an annual cost of $55.00 for every $10,000 invested in the fund.
What sectors does the VanEck Steel ETF (SLX) concentrate its holdings in?
The VanEck Steel ETF (SLX) is heavily concentrated in the Basic Materials sector, which makes up 92.30% of its portfolio. It also holds smaller allocations in Industrials (3.89%) and Energy (3.81%).
What is the distribution yield for the VanEck Steel ETF (SLX)?
The VanEck Steel ETF (SLX) has a distribution yield of 1.28%.
What is the current Net Assets for the VanEck Steel ETF (SLX)?
The VanEck Steel ETF (SLX) currently has net assets of $160.85 million.
What are the key risks associated with investing in the VanEck Steel ETF (SLX)?
The primary risks include high concentration in the Basic Materials sector, making it susceptible to steel industry downturns and commodity price volatility. The relatively high expense ratio of 0.55% also impacts long-term returns.
Is SLX in an uptrend?
Not clearly. VanEck Steel ETF (SLX) trades at $102.60, above its 200-day but below its 50-day moving average ($101.01 and $106.84). Its 14-day RSI on daily closes is 41.6, in neutral territory.
What is SLX's biggest drop in the last 10 years?
VanEck Steel ETF (SLX)'s worst peak-to-trough fall over the last 10 years was -63.7%, from January 2018 to March 2020. It regained that peak by March 2021, 11 months after the low. Over the same period, 64% of 1-year holding periods ended with a gain.
What are SLX's best and worst months?
Over the last 10 years, July has been SLX's strongest month on average (+6.50%, rising in 10 of 10 years) and March its weakest (-3.59%, rising in 3 of 10 years). Seasonal averages describe the past and do not predict a given year.
How closely does SLX move with the stock market?
Over the past year SLX's daily returns were moderately correlated with the S&P 500 (SPY) (+0.69). Nasdaq 100 (QQQ): +0.63; Bitcoin (BTC): +0.30; Gold (XAU): +0.37. A figure near +1 means the two usually move together; near 0 means little relationship.
What does CleaRank's simulation show for SLX in 2030?
CleaRank's Monte Carlo simulation, built from SLX's own historical volatility, puts the 2030 base case near $143.07, with 10th and 90th percentile outcomes of $64.81 and $315.86. It is a range of simulated outcomes, not a price target.
