Share-split context: A forward split was recorded on May 4, 2010 with coefficient 3.000003. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

ASA Gold and Precious Metals Ltd (ASA)

What this ETF is trying to do

ASA Gold and Precious Metals Ltd (ASA) is an ETF traded on the NYSE. While the specific investment strategy details are not provided in the data, the name suggests a focus on gold and other precious metals.

What the numbers show

The performance of ASA shows different results depending on how you measure it. It is important to know the difference between "price return" (just the change in share price) and "total return" (the change in share price plus distributions).

• Year-to-Date (YTD): The YTD price return is approximately -8.20%. The YTD total return is approximately -8.14%.

• One Year: The one-year price return is approximately 17.58%. The one-year total return is approximately 17.72%.

• Three Year: The three-year price return is approximately 320.74%. The three-year total return is approximately 322.91%.

• Five Year: The five-year total return is approximately 180.42%.

Because this ETF has a history of forward splits, the price-return data is split-adjusted. This means the historical prices have been adjusted so that a split (where one old share becomes multiple new shares) does not look like a sudden drop in value.

Income and distribution explanation

ASA provides distributions, which are cash payments to investors. The trailing distributions were 0.07. This results in a distribution yield of approximately 0.13%.

The data shows that the distribution frequency is "Irregular / less frequent." In the last 12 months, there were 2 payouts. These payments occurred on Wednesdays and Fridays. It is important to remember that a distribution yield shows how much cash was paid out relative to the price, but it is not the same as a total return.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, looking at price-based evidence, the erosion score is 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Pros

• The ETF has shown very high total returns over three-year and five-year periods.

• The erosion-risk score suggests there has been no significant price erosion detected.

• It has an income rating grade of "A."

Cons

• The year-to-date price and total returns are currently negative.

• Distributions are irregular and less frequent, which may make it harder to predict cash flow.

Beginner takeaway

ASA Gold and Precious Metals Ltd has shown strong long-term total returns, though it has faced a price decline so far this year. While it pays distributions, they do not happen on a regular schedule. Investors should distinguish between the share price movement and the total return, which includes those cash payments.