What Are Metal Film Resistors?
A common type of axial-leaded resistor today is the metal-film resistor. Metal Electrode Leadless Face (MELF) resistors often use the same technology.
Metal film resistors are usually coated with nickel chromium (NiCr), but might be coated with any of the cermet materials listed above for thin film resistors. Unlike thin film resistors, the material may be applied using different techniques than sputtering (though this is one of the techniques). Also, unlike thin-film resistors, the resistance value is determined by cutting a helix through the coating rather than by etching. (This is similar to the way carbon resistors are made.) The result is a reasonable tolerance (0.5%, 1%, or 2%) and a temperature coefficient that is generally between 50 and 100 ppm/K. Metal film resistors possess good noise characteristics and low non-linearity due to a low voltage coefficient. Also beneficial are their tight tolerance, low temperature coefficient and long-term stability
Source: Wikipedia