By Sumit Roy
Commodity ETPs have seenmore outflows, but one agriculture ETF continues its hot streak. Spiking oil and corn prices didn’t stop commodity-related exchange-traded products from experiencing their fifth outflow in six weeks, as economic concerns and falling stock prices created a dreary mood among investors.
Once again, the energy sector led the exodus last week, with $371 million in redemptions, followed by industrial metals with $42 million, and precious metals with nearly $15 million. Broad market and agriculture ETPs saw more favorable action, with inflows of almost $16 million and $246 million, respectively.
As usual, agriculture’s outperformance comes courtesy of the Market Vectors Agribusiness ETF (MOO), which showed up on the inflows leaderboard for the fifth straight week. That takes its five-week total to over $1.3 billion, with $241 million of that from last week.
On the other end of the spectrum, the Energy Select SPDR Fund (XLE) topped the outflows leaderboard for a second straight week, as investors pulled out $168 million. Another energy product, the United States Oil Fund (USO), also made its second straight appearance on the list, after seeing $127 million in redemptions.
USO’s cousin, the United States Natural Gas Fund (UNG), was right behind, with $126 million in redemptions, as investors liquidated their positions after a steep run-up in prices for the fuel. The Market Vectors Junior Gold Miners ETF (GDXJ) and the PowerShares DB Commodity Tracking Fund (DBC) rounded out the top five, with $60 million and $55 million in outflows, respectively.
Fast-recovering palladium and sugar prices enabled the ETFS Physical Palladium Shares (PALL), iPath Pure Beta Sugar ETN (SGAR) and the iPath Dow Jones-UBS Sugar Total Return ETN (SGG) to take the Nos. 1, 2 and 3 spots in the price performance leaderboard last week, with returns of 5.92 percent, 5.76 percent and 5.38 percent, respectively.
The worst price performers of the week were a diverse bunch. The iPath Dow Jones-UBS Cotton Total Return ETN (BAL), Global X Uranium ETF (URA), Guggenheim Solar ETF (TAN), Global X Gold Explorers ETF (GLDX) and Market Vectors Rare Earth/Strategic Metals ETF (REMX) fell 8.58 percent, 7.82 percent, 5.83 percent, 5.58 percent and 5.51 percent, respectively.
Fund Flows Data: June 2-9
Commodity ETF Weekly Flows By Asset Class
|Net Flows |
|% of AUM|
Top 5 Commodity ETF Creations
|Ticker||Name||Net Flows |
|AUM % Change|
|MOO||Market Vectors Agribusiness ETF||241.34||5,496.05||4.59%|
|XME||SPDR S&P Metals and Mining ETF||148.04||1,100.31||15.55%|
|IAU||iShares Gold Trust||112.78||6,984.15||1.64%|
|XOP||SPDR S&P Oil & Gas Exploration |
& Production ETF
|DBP||PowerShares DB Precious Metals Fund||34.09||572.16||6.34%|
Top 5 Commodity ETF Redemptions
|Ticker||Name||Net Flows |
|AUM % Change|
|XLE||Energy Select SPDR Fund||-168.05||9,081.31||-1.82%|
|USO||United States Oil Fund||-126.94||1,359.07||-8.54%|
|UNG||United States Natural Gas Fund||-125.94||1,888.70||-6.25%|
|GDXJ||Market Vectors Junior Gold Miners ETF||-60.02||1,975.66||-2.95%|
|DBC||PowerShares DB Commodity Tracking Fund||-54.92||6,315.88||-0.86%|
Top 5 Weekly Performers (Excluding Leverage/Inverse, >1,000 Shares Traded)
|Weekly Volume||AUM |
|PALL||ETFS Physical Palladium Shares||5.92%||1,324,579||811.14|
|SGAR||iPath Pure Beta Sugar ETN||5.76%||7,842||6.35|
|SGG||iPath Dow Jones-UBS Sugar Total Return ETN||5.38%||328,170||68.13|
|GWO||ELEMENTS Credit Suisse Global Warming ETN||4.73%||5,415||0.00|
|DBS||PowerShares DB Silver Fund||4.11%||720,780||196.76|
Bottom 5 Weekly Performers (Excluding Leverage/Inverse, >1,000 Shares Traded)
|BAL||iPath Dow Jones-UBS Cotton Total Return ETN||-8.58%||595,929||77.15|
|URA||Global X Uranium ETF||-7.82%||2,668,869||242.18|
|TAN||Guggenheim Solar ETF||-5.83%||1,955,319||157.06|
|GLDX||Global X Gold Explorers ETF||-5.58%||155,775||24.83|
|REMX||Market Vectors Rare Earth/Strategic Metals ETF||-5.51%||1,672,058||475.59|
Top 5 Volume Surprises (>$50mm AUM)
|Ticker||Name||Average Volume |
|1 Week |
|% of Average|
|NLR||Market Vectors Uranium + Nuclear Energy ETF||67,057||768,423||229.18%|
|PBD||PowerShares Global |
Clean Energy Portfolio Fund
|CROP||IQ Global Agribusiness Small Cap ETF||47,085||461,153||195.88%|
|WOOD||iShares S&P Global Timber & Forestry Fund||77,993||693,781||177.91%|
|CUT||Guggenheim Timber ETF||142,441||1,199,698||168.45%|
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.