Jan. 03, 2026 10:48 PM ETState Street® SPDR® S&P® Metals & Mining ETF (XME)Mike Zaccardi, CFA, CMT8.74K FollowersCommentsState Street SPDR S&P Metals & Mining ETF (XME) is upgraded to buy after a 96% YoY rally and improved valuation metrics.XME's P/E has dropped to 15.4x, with anticipated long-term EPS growth above 26%, making the PEG ratio highly attractive.The ETF's equal-weighted structure and small-cap tilt add risk, but no single holding dominates, and liquidity has surged.Technicals show a bullish trend with potential for a breakout to $137 as 2026 progresses, despite recent volatility and overbought signals.erlucho/iStock via Getty ImagesThe State Street SPDR S&P Metals & Mining ETF (XME) has soared 96% over the past year, easily outpacing the S&P 500 ETF (SPY) by nearly 80 percentage points. I was neutral onThis article was written byMike Zaccardi, CFA, CMT8.74K FollowersFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to financial data. Working with teams that include senior editors, investment strategists, marketing managers, data analysts, and executives, I contribute ideas to help make content relevant, accessible, and measurable. Having expertise in thematic investing, market events, client education, and compelling investment outlooks, I relate to everyday investors in a pithy way. I enjoy analyzing stock market sectors, ETFs, economic data, and broad market conditions, then producing snackable content for various audiences. Macro drivers of asset classes such as stocks, bonds, commodities, currencies, and crypto excite me. My thing is communicating finance with an educational and creative style. I also believe in producing evidence-based narratives using empirical data to drive home points. Charts are one of the many tools I leverage to tell a story in a simple but engaging way. I focus on SEO and specific style guides when appropriate.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments