Commodity Flows: Energy Funds See Big Inflows And Outflows, Coffee Fund Spikes

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 |  Includes: CHIE, DBB, DBC, FXN, GAZ, GDX, GLD, GRN, GRWN, IGE, IYE, JJS, JO, MOO, OIH, PBD, PLTM, SGG, UCI, UNG, URA, USO, XLE
by: Hard Assets Investor

By Hannah Tool

Commodity related exchange-traded product flows were positive this week, but sector performance varied significantly. In aggregate, commodity ETPs added $346 million, taking their total assets under management to $123.3 billion.

The sector-by-sector flows breakdown showed big gains in precious metals ($337 million) and energy ($274 million), but outflows in broad market ($134 million), agriculture ($104 million) and industrial metals ($26 million) products.

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

ETP Inflows/Outflows

In terms of inflow performance, energy names fared the best and worst. iShares U.S. Energy Fund (NYSEARCA:IYE) took the top spot with a $258 million inflow, while SPDR Gold Trust (NYSEARCA:GLD) followed with a $157 million gain. Rounding out the inflows list were Market Vectors Oil Services ETF (NYSEARCA:OIH) with an increase of $134 million; United States Oil Fund (NYSEARCA:USO) with a $126 million inflow; and Market Vector Gold Miners Fund (NYSEARCA:GDX), which garnered $122 million.

On the outflow side, two energy funds were big losers: Energy Select Sector SPDR Fund (NYSEARCA:XLE) lost $212 million, while the United States Natural Gas Fund (NYSEARCA:UNG) shed $130 million. Following suit were the Market Vectors Agribusiness ETF (NYSEARCA:MOO) with an outflow of $116 million; PowerShares DB Commodity Tracking ETF (NYSEARCA:DBC), which lost $60 million; and iShares North American Natural Resources Fund (NYSEARCA:IGE), which had a $52 million outflow.

ETP Performance

In terms of price performance, soft commodity funds were the big winners this week. iPath Dow Jones-UBS Coffee Total Return ETN (NYSEARCA:JO) took the No. 1 position with a 24 percent increase. Next was the iPath Dow Jones-UBS Softs Total Return ETN (NYSEARCA:JJS), which rallied by 11.9 percent.

iPath Global Carbon ETN (NYSEARCA:GRN) was not far behind with a 11.8 percent advance, while iPath Pure Beta Softs ETN (NYSEARCA:GRWN) gained 11 percent, and iPath Dow Jones-UBS Sugar Total Return ETN (NYSEARCA:SGG) advanced 9.8 percent.

On the downside, natural gas funds were the biggest losers. The iPath Dow Jones-UBS Natural Gas Total Return ETN (NYSEARCA:GAZ) fell by 9.8 percent, while the United States Natural Gas Fund lost 8 percent. Rounding out the list of worst performers were Global X Uranium (NYSEARCA:URA), which shed 5.3 percent; First Trust ISE Global Platinum (NASDAQ:PLTM), which fell by 4.5 percent; and Global X China Energy (NYSEARCA:CHIE), which declined 4 percent.

Fund Flows Data: (January 31 - February 06, 2014)

Commodity ETF Weekly Flows By Sector

Net Flows
($,mm)
AUM
($, mm)
% of AUM
Agriculture -104.40 8,509.97 -1.23%
Broad Market -134.22 12,216.17 -1.10%
Energy 273.71 41,619.68 0.66%
Industrial Metals -26.14 1,155.61 -2.26%
Precious Metals 337.22 59,829.34 0.56%
Total: 346.17 123,330.76 0.28%
Click to enlarge

Top 5 Commodity ETF Creations

Ticker Name Net Flows
($,mm)
AUM
($, mm)
AUM % Change
IYE iShares U.S. Energy 257.91 1,821.96 16.49%
GLD SPDR Gold 156.69 32,184.21 0.49%
OIH Market Vectors Oil Services 134.22 1,268.24 11.84%
USO United States Oil 125.57 694.95 22.05%
GDX Market Vectors Gold Miners 122.48 7,248.40 1.72%
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Top 5 Commodity ETF Redemptions

Ticker Name Net Flows
($,mm)
AUM
($, mm)
AUM % Change
XLE Energy Select SPDR -211.68 7,589.21 -2.71%
UNG United States Natural Gas -129.64 760.48 -14.56%
MOO Market Vectors Agribusiness -115.81 3,983.88 -2.82%
DBC PowerShares DB Commodity Tracking -59.81 5,449.08 -1.09%
IGE iShares North American Natural Resources -51.63 2,042.29 -2.47%
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Top 5 Weekly Performers, Excluding <1,000 Shares Traded

Ticker Name Weekly
Performance
Weekly Volume AUM
($, mm)
JO iPath Dow Jones-UBS Coffee Total Return ETN 23.97% 3,077,591 165.43
JJS iPath Dow Jones-UBS Softs Total Return ETN 11.88% 8,700 6.83
GRN iPath Global Carbon ETN 11.83% 39,690 1.50
GRWN iPath Pure Beta Softs ETN 10.99% 1,300 0.77
SGG iPath Dow Jones-UBS Sugar Total Return ETN 9.75% 119,838 29.28
Click to enlarge

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

Ticker Name Weekly
Performance
Weekly Volume AUM
($, mm)
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN -9.80% 2,094,285 38.88
UNG United States Natural Gas -7.98% 151,486,346 760.48
URA Global X Uranium -5.28% 972,528 160.04
PLTM First Trust ISE Global Platinum -4.47% 67,580 10.18
CHIE Global X China Energy -3.98% 2,689 4.12
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Top 5 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
Weekly Volume % of Average
UCI ETRACS CMCI Total Return ETN 96,393 1,921,538 398.69%
FXN First Trust Energy AlphaDEX 287,491 5,279,880 367.31%
IYE iShares U.S. Energy 596,107 10,483,386 351.73%
DBB PowerShares DB Base Metals 239,176 2,794,953 233.72%
PBD PowerShares Global Clean Energy 53,348 611,292 229.17%
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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.