---
title: "儘管礦商收益強勁，黃金礦業 ETF 表現仍落後於金條"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/286954910.md"
description: "大多數黃金礦業 ETF 的表現不及黃金年初至今的漲幅，甚至有些出現了虧損。這是在 2026 年初，黃金落後於標準普爾 500 指數後，資本從礦業股中撤出的結果。儘管 ETF 表現不佳，但頂級礦業公司報告了創紀錄的收益和利潤率，顯示出該行業的強勁基本面"
datetime: "2026-05-19T18:49:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286954910.md)
  - [en](https://longbridge.com/en/news/286954910.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286954910.md)
---

# 儘管礦商收益強勁，黃金礦業 ETF 表現仍落後於金條

ETF performance gap: Most gold mining ETFs are trailing gold’s year-to-date gains, with some posting losses despite bullion’s strength. Capital rotation hits miners: Early 2026 saw investor rotation out of miners after gold lagged the S&P 500, reversing part of 2025’s gains. Profits defy ETF slump: Top miners posted record earnings and margins, indicating strong sector fundamentals despite weak ETF prices.

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