REMX Index, page-17

It's a macro, and there simply aren't many in the tiny primary rare earth space, the big bucks are way downstream.

REMX has been distorted over the years, looks a bit like a lithium index ATM, but it's segment is the broader Industrial Metals & Minerals space, with a brief to track:

MVIS Global Rare Earth/Strategic Metals Index

The modified market cap-weighted index tracks the performance of the largest and most liquid companies in the global rare earth and strategic metals segment. Its unique pure-play approach requires that companies have to generate at least 50% of their revenues from rare earth and strategic metals or with mining projects that have the potential to generate at least 50% of their revenues from rare earth/strategic metal when developed. The index includes refiners, recyclers and producers of rare earth strategic metals and minerals. The MVIS Global Rare Earth/Strategic Metals Index (MVREMX) covers at least 90% of the investable universe and has been licensed to underlie financial products with currently USD 44.02 million in asset under management.

http://www.mvis-indices.com/indices/hard-asset/mvis-global-rare-earth-strategic-metals

One reason I've stuck with Lynas is because Van Eck have, after being chock full of ROW wannabes 5 yrs ago it is the last man standing after ALK was tossed out early 2015.

REMX's 5yr performance not dissimilar to LYC, dreadful, I think they both based out within 3 months of each other, and REMX could be a good indicator of monies flowing back to the sector, simple fact is there aren't many others.