<div id="readability-page-1"><div><p>The commodity exposure of multi-asset funds has treaded lower over the last year as fund managers trimmed their gold and silver exposure after a sharp run-up in prices. At the same time, they raised their equity exposure amid improving valuations.</p></div><div><div><div id="article-index-0">  <p>  The average gold and silver holding of multi-asset funds, which stood at 17 per cent in March 2025, was down to 13 per cent in April 2026. The number of schemes with 15 per cent or more commodity holding has shrunk from 15 to just four in the same period, showed data from Value Research.</p> </div><div id="article-index-1">  <div><p>Multi-asset funds invest across equity, debt and commodities depending on the market condition. The allocations are typically determined by quantitative and valuation-based models that take into account factors such as equity valuations, yields offered by fixed-income instruments, relative commodity valuations, interest rate outlook and economic growth indicators. <small> </small></p></div> </div></div></div></div>

黃金信託 ETF - GraniteShares

黃金 MiniShares 信託 - SPDR

白銀礦業股 ETF - GlobalX

<p>多資產基金在 2025 年 3 月將黃金和白銀的持倉比例從 17% 降低至 2026 年 4 月的 13%，這一變化是在價格飆升之後發生的。持有超過 15% 商品資產的基金數量從 15 只減少至 4 只。同時，由於估值改善，股票的持倉比例有所增加，因為配置受到考慮多種市場因素的量化模型的指導</p>

Multi-asset funds reduce gold and silver exposure as prices soar

Business Standard

Sprott PHYs Silver

2 倍做多黃金 ETF - ProShares

白銀信託 ETF - iShares

YieldMax Gold Miners Opt Inc Strgy ETF

3 倍做多黃金礦業 ETN - MicroSectors

環球銀礦 MSCI ETF - iShares

2 倍做多白銀 ETF - ProShares

2 倍做多金礦指數 ETF - Direxion

初級黃金礦股 ETF

2 倍做多小型金礦指數 ETF - Direxion

SPDR 金 ETF

貴金屬股 ETF -ETFS

黃金礦 ETF - Sprott

Sprott Active Gold & Silver Miners ETF

德銀貴金屬基金 - PowerShares

VanEck Vectors Junior Gold Miners UCITS ETF

黃金 ETF - iShares

全球黃金礦業股 MSCI ETF - iShares

Sprott Silver Mnrs & Physical Silver ETF

金礦股 ETF - VanEck Vectors

隨着價格飆升，多資產基金減少了對黃金和白銀的投資敞口