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Amundi Gold Miners UCITS ETF DistIndex, costs, backtest, listings and taxation

ISIN: LU2611731824Ticker: CD91 (Xetra) · GLDU (Euronext AMS) · GLDM (Euronext Paris) · CBGOLD (SIX)Issuer: AmundiClass: UCITS ETF Dist
Issuer-declared data
TER
0.65%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Sector (from holdings)
Materials — 100% of the declared portfolio (31 July 2026)
Theme
Miners (gold, silver, copper) · Infrastructure & resources
Fund assets
750.4 mln EUR
NAV
78.97 USD (1 September 2026)
Domicile
Luxembourg
Inception date
7 December 2023
Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Amundi Gold Miners UCITS ETF Dist tracks the issuer-declared index: Solactive Developed Markets Pure Gold Miners Index NTR. The declared annual cost (TER) is 0.65%, plus 0.01% in transaction costs estimated by the issuer in the KID. Replication is direct physical replication; income is distributed to investors. The fund has assets of about 750 million euro, was launched on 7 December 2023 and is domiciled in Luxembourg.

The fund’s objective — in the issuer’s words

This Sub-Fund is passively managed. The Solactive Developed Markets Pure Gold Miners Index is an equity index which represents global gold mining equities. Eligible companies must be classified as Developed Markets under the Solactive Global Benchmark Series or as Emerging Market companies listed via ADRs. Additionally, the company’s index category must be Gold Mining. The Index is a Net Total Return index. A net total return index calculated the performance of the index constituents on the basis that any dividends or distributions are reinvested net of any withholding tax applicable. More information about the composition of the Index and its operating rules are available in the prospectus and at: www.solactive.com The Index value is available via Bloomberg (SODPGMN). The exposure to the Index will be achieved through a direct replication, mainly by making direct investments in transferable securities and/or other eligible assets representing the Index constituents in a proportion extremely close to their proportion in the index. The Investment Manager will be able to use derivatives in order to deal with inflows and outflows and which relate to the Index or constituents of the Index for investment and/or efficient portfolio management. In order to generate additional income to offset its costs, the Sub-Fund may also enter into securities lending operations.

Keep reading the KID section ▾

Intended Retail Investor:This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds seeking to increase the value of their investment and to receive income over the recommended holding period with the ability to bear losses up to the amount invested.

Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the SubFund on the primary market. Further details are provided in the Amundi Index Solutions prospectus.

Distribution policy:The Fund’s amounts available for distribution (if any) will be distributed.

More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.65%: above the median of equity ETFs we track (0.22%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Nov 2023 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+242.0%
Annualised
+56.1%
Volatility (ann.)
40.4%
Max drawdown
-39.31%
-20%+65%+150%+235%+320%Nov 2023Aug 2024Apr 2025Dec 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+242%Nov 2023Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%202420252026−39.31% · 20 Jul 2026
Max drawdown
-39.31%
peak → trough
Trough
20 Jul 2026
from the 27 Feb 2026 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
187 days
decline + recovery: peak to break-even · ≈ 6 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
27 Feb 202620 Jul 2026-39.31%ongoing187
22 Oct 202430 Dec 2024-22.72%18 Mar 2025147
27 Dec 202328 Feb 2024-20.83%02 Apr 202497
16 Oct 202504 Nov 2025-19.62%11 Dec 202556
28 Jan 202605 Feb 2026-17.69%24 Feb 202627

Calendar-year returns

2023
0.8%
2024
13.8%
2025
155.0%
2026
16.8%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
202611.325.3-20.4-3.60.5-15.8-1.934.3-2.016.8
202513.40.015.59.01.55.01.421.418.6-5.016.73.5155.0
2024-10.2-6.621.34.58.1-4.013.82.72.10.5-6.2-8.513.8
20230.90.8
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER.
Declared TER
0.65%
YearFundIndexDifference
2025+155.04%+156.73%-1.69%
Fund return with dividends reinvested by Rebalix on each ex-date (the issuer does not publish a total-return series); index from the issuer-declared series; complete calendar years covered by our dividend archive. complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearFull history
Volatility (ann.)47.39%39.44%
Max drawdown-37.76%-37.76%
Sharpe1.121.19
Sortino1.581.70
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. The max drawdown is identical across windows because the deepest fall is recent (peak 2 Mar 2026 → trough 20 Jul 2026): one episode dominates every look-back period. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
30
Top-10 weight
77.0%

Top 10 holdings

AGNICO EAGLE MINES-CAD · AEM CT
15.38%
NEWMONT CORP USD · NEM UN
15.17%
ANGLOGOLD ASHANTI PLC NYSE · AU UN
13.39%
BARRICK MINING CORP · ABX CT
11.56%
KINROSS GOLD CORPORATION · K CT
6.13%
NORTHERN STAR RESOURCES LTD · NST AT
3.74%
COEUR MINING INC · CDE UN
3.37%
ENDEAVOUR MINING PLC · EDV LN
3.04%
EVOLUTION MINING · EVN AT
2.63%
PAN AMERICAN SILVER · PAAS CT
2.63%

Sectors

Materials
100.0%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 11.5%AustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 51.6%SwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 18.6%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Canada51.6%
United States18.6%
United Kingdom17.4%
Australia11.5%
Hong Kong1%
⬇ Download the full portfolio — Excel, 32 rows
Full portfolio declared by Amundi, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Frequency
Annual
Latest dividend
0.11 USD
ex 9 Dec 2025 · paid ~12 Dec 2025
Dividends, last 12 months
0.11 USD
Dividend yield
0.14%
12-month sum over the NAV as of 2 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year0.11 USD0.21 %
20250.11 USD0.41 %
20240.09 USD0.38 %

Dividend contribution to total return

0%10%20%30%40%50%60%70%80%90%100%110%120%130%140%150%160%+55.56 %1 year+155.02 %2025+13.83 %2024
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20250.11
20240.09

Latest dividends

Per shareEx-dividend datePayment
0.11 USD9 Dec 202512 Dec 2025 · estimated
0.09 USD10 Dec 202413 Dec 2024 · estimated
Per-share dividends as declared by the issuer, in USD, since the first payment (10 Dec 2024). Past dividends are not indicative of future ones. An «estimated» payment date is computed by Rebalix (ex-date + 2-3 business days, as this issuer has paid in the past) because the issuer does not publish it: it may differ by a day.

Index tracked

Solactive Developed Markets Pure Gold Miners Index NTR
This fund belongs to the gold (ETCs and miners) family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

LU2611731824CD91
  • BG Saxozero within the savings plan (buys)
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Börse Düsseldorf—8 Dec 2023
Börse Frankfurt—8 Dec 2023
Börse Hamburg—13 Dec 2023
Börse Hannover—9 Dec 2024
Börse München / gettex—8 Dec 2023
Börse Stuttgart—13 Dec 2023
Euronext ParisGLDM8 Dec 2023
Tradegate Exchange—8 Dec 2023
Xetra (Deutsche Börse)CD918 Dec 2023
+ 15 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Amundi Gold Miners UCITS ETF Dist track?
The issuer Amundi declares the benchmark: Solactive Developed Markets Pure Gold Miners Index NTR.
How much does CD91 cost?
The issuer-declared TER is 0.65% per year; the transaction costs estimated in the KID are 0.01%.
How is CD91 taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of CD91?
The fund size declared by Amundi is about 750 million euro.
When was CD91 launched?
The fund was launched on 7 December 2023: it has 2 years of history.
How does CD91 replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does CD91 pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does CD91 trade?
Per the official ESMA register it trades on 9 main exchanges, including Euronext Paris (GLDM), Xetra (Deutsche Börse) (CD91).
What was CD91's worst fall?
Over the available history (since 2023), the maximum drawdown was -39.31%, reached in July 2026. Past performance is not indicative of future results.
How many securities does CD91 hold?
The declared portfolio holds 30 securities; the top 10 positions weigh 77%.
Transparency note
The data in this sheet is declared by Amundi in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.