Seeking Alpha
Commodities, gold, oil & gas
Profile| Send Message|
( followers)

By Hannah Tool

Gold fund GLD was the biggest commodity ETF weekly loser, while precious metals mining funds shined in performance.

The SPDR Gold fund (NYSEARCA:GLD) sloughed off $240 million in assets under management in the week ending Thursday, Oct. 24, leading losses for commodity ETPs and fueling outflows from the precious metals sector.

Precious metals funds shed $277 million in AUM and broad market (multicommodity) lost $6.6 million.

Agriculture meanwhile pulled in $33 million, industrial metals snagged $15 million and energy grabbed $10 million.

Commodity ETPs include exchange-traded funds (ETFs), exchange-traded notes (ETNs) and exchange-traded vehicles (ETVs).

ETP Inflows/Outflows

Energy ETPs won over inflows and the United States Oil fund (NYSEARCA:USO) led the way with $130 million in new investment capital; Guggenheim Solar (NYSEARCA:TAN) gained $89 million; United States Natural Gas (NYSEARCA:UNG) pulled in $78 million; Alerian MLP (NYSEARCA:AMLP) added $51 million; and the iShares U.S. Energy fund (NYSEARCA:IYE) had net gains of $49 million.

In addition to the biggest loser, the SPDR Gold ETF (GLD), which shed $240 million, energy ETPs coupled their gains with notable losses, as the Market Vectors Oil Services fund (NYSEARCA:OIH) shoved off $164 million; Energy Select SPDR (NYSEARCA:XLE) retreated $150 million; SPDR S&P Oil & Gas Exploration & Production (NYSEARCA:XOP) saw outflows of $87 million; and net losses for the ProShares UltraShort DJ-UBS Crude Oil fund (NYSEARCA:SCO) totaled $62 million.

ETP Performance

Silver and gold miners blew their peers out of the water with a performance rally this week, led by the PureFunds ISE Junior Silver (Small Cap Miners/Explorers) fund (NYSEARCA:SILJ) spiking 11.74 percent; Market Vectors Junior Gold Miners (NYSEARCA:GDXJ) jumping 11.46 percent; Global X Gold Explorers (NYSEARCA:GLDX) growing 11.00 percent; iShares MSCI Global Gold Miners (NYSEARCA:RING) rising 8.66 percent; and the Global X PURE Gold Miners fund (NYSEARCA:GGGG) boosting 8.56 percent.

The iPath Global Carbon ETN (NYSEARCA:GRN) retreated 14.39 percent and the iPath Dow Jones-UBS Natural Gas Total Return ETN (NYSEARCA:GAZ) slid 5.92 percent, although idiosyncrasies in structure and liquidity of the funds often push them to lead gains or losses in performance. Meanwhile, oil lagged, with the iPath S&P GSCI Crude Oil Total Return ETN (NYSEARCA:OIL) sliding 5.91 percent; United States Oil (USO) sinking 5.50 percent; and the United States Gasoline fund (NYSEARCA:UGA) underperforming by 5.42 percent.

Fund Flows Data: (October 18 - 24, 2013)

Commodity ETF Weekly Flows By Sector

Net Flows
($,mm)
AUM
($, mm)
% of AUM
Agriculture 32.63 9,519.83 0.34%
Broad Market -6.60 13,121.14 -0.05%
Energy 10.29 42,300.28 0.02%
Industrial Metals 15.30 1,392.88 1.10%
Precious Metals -276.72 68,673.35 -0.40%
Total: -225.10 135,007.48 -0.17%

Top 5 Commodity ETF Creations

Ticker Name Net Flows
($,mm)
AUM
($, mm)
AUM % Change
USO United States Oil 130.30 903.11 16.86%
TAN Guggenheim Solar 89.24 418.82 27.08%
UNG United States Natural Gas 77.73 890.23 9.57%
AMLP Alerian MLP 50.68 7,239.23 0.71%
IYE iShares U.S. Energy 49.04 1,653.50 3.06%

Top 5 Commodity ETF Redemptions

Ticker Name Net Flows
($,mm)
AUM
($, mm)
AUM % Change
GLD SPDR Gold -239.90 37,885.53 -0.63%
OIH Market Vectors Oil Services -164.02 1,581.73 -9.40%
XLE Energy Select SPDR -149.58 7,995.03 -1.84%
XOP SPDR S&P Oil & Gas Exploration & Production -87.19 1,068.90 -7.54%
SCO ProShares UltraShort DJ-UBS Crude Oil -62.46 365.97 -14.58%

Top 5 Weekly Performers, Excluding <1,000 Shares Traded

Ticker Name Weekly
Performance
Weekly Volume AUM
($, mm)
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) 11.74% 8,051 1.83
GDXJ Market Vectors Junior Gold Miners 11.46% 6,220,010 1,438.07
GLDX Global X Gold Explorers 11.00% 196,749 31.50
RING iShares MSCI Global Gold Miners 8.66% 242,210 37.64
GGGG Global X PURE Gold Miners 8.56% 31,573 3.75

Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded

Ticker Name Weekly
Performance
Weekly Volume AUM
($, mm)
GRN iPath Global Carbon ETN -14.39% 26,500 1.64
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN -5.92% 287,300 32.55
OIL iPath S&P GSCI Crude Oil Total Return ETN -5.91% 1,688,643 331.69
USO United States Oil -5.50% 37,356,789 903.11
UGA United States Gasoline -5.42% 188,051 52.48

Top 5 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
Weekly Volume % of Average
PZD PowerShares Cleantech 5,389 69,572 258.21%
TAN Guggenheim Solar 582,777 6,060,986 208.00%
QCLN First Trust NASDAQ Clean Edge Green Energy 54,121 514,915 190.28%
PXJ PowerShares Dynamic Oil & Gas Services 16,624 157,375 189.34%
OIH Market Vectors Oil Services 3,527,890 31,190,794 176.82%

Disclaimer: Data provided by IndexUniverse. All data as of 6 a.m. Eastern the date of publication. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Source: Commodity ETF Flows: GLD Drops $240 Million, But Mining ETFs Outperform