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 (NYSEARCA: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 (NYSEARCA:XLE) topped the outflows leaderboard for a second straight week, as investors pulled out $168 million. Another energy product, the United States Oil Fund (NYSEARCA: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 (NYSEARCA: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 (NYSEARCA:GDXJ) and the PowerShares DB Commodity Tracking Fund (NYSEARCA: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 (NYSEARCA:PALL), iPath Pure Beta Sugar ETN (NYSEARCA:SGAR) and the iPath Dow Jones-UBS Sugar Total Return ETN (NYSEARCA: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 (NYSEARCA:BAL), Global X Uranium ETF (NYSEARCA:URA), Guggenheim Solar ETF (NYSEARCA:TAN), Global X Gold Explorers ETF (NYSEARCA:GLDX) and Market Vectors Rare Earth/Strategic Metals ETF (NYSEARCA: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.