By Sumit Roy
It wasn’t much, but commodity-related exchange-traded products saw their second straight week of net inflows last week. Investors added a modest $28 million to the space. In turn, total assets inched higher, to $160.4 billion.
None of the individual sectors saw any outsized flows. Energy led with $46 million in inflows, followed by broad market (multicommodity) ETPs. Precious metals, industrial metals and agriculture saw outflows of $17 million, $13 million and $11 million, respectively.
The energy behemoth Energy Select Sector SPDR Fund (NYSE Arca: XLE) continued to recover from recent withdrawals, as investors plowed $219 million into the fund, allowing it to take the top spot for the week.
The Market Vectors Gold Miners ETF (NYSE Arca: GDX) and the SPDR S&P Metals and Mining ETF (NYSE Arca: XME) followed, with $123 million and $94 million in inflows, respectively.
At spot No. 4 was a familiar name—the Market Vectors Agribusiness ETF (NYSE Arca: MOO), with $68 million in inflows. Clearly, last week’s minor $18 million outflow was an anomaly in a trend that has seen MOO accumulate almost $1.2 billion in investor capital over eight weeks. Following MOO was the United States Natural Gas Fund (NYSE Arca: UNG) at No. 5, with $37 million in inflows.
Though XLE took the top spot on the inflows list last week, another energy fund, the SPDR S&P Oil & Gas Exploration & Production ETF (NYSE Arca: XOP), was No. 1 on the outflows list, with $143 million in withdrawals.
The rest of the list included the iShares Silver Trust (NYSE Arca: SLV), the Direxion Daily Energy Bull 3x Shares (NYSE Arca: ERX), the PowerShares DB Agriculture Fund (NYSE Arca: DBA) and the SPDR Gold Trust (NYSE Arca: GLD) with $94 million, $64 million, $45 million and $44 million in outflows, respectively.
Shifting gears to price performance for the week, base metals dominated the top performers list, though the Elements Credit Suisse Global Warming ETN (NYSE Arca: GWO) led, with a 9.49 percent gain.
The First Trust ISE Global Copper Index Fund (NYSE Arca: CU), the Global X Copper Miners ETF (NYSE Arca: COPX) and the iPath Dow Jones-UBS Lead Subindex Total Return ETN (NYSE Arca: LD) were next, with gains of 9 percent, 8.65 percent and 7.23 percent, respectively.
The Global X Oil Equities ETF (NYSE Arca: XOIL) rounded out the top five, with a 7.12 percent rally.
It was all about grains when it comes to the worst performers of the week. The exception was the No. 1 product on the list, the iPath Global Carbon ETN (NYSE Arca: GRN), which shed 8.53 percent.
The Elements MLCX Grains Index – Total Return ETN (NYSE Arca: GRU), the Teucrium Corn Fund (NYSE Arca: CORN), the iPath Dow Jones UBS Grains Subindex Total Return ETN (NYSE Arca: JJG) and the iPath Pure Beta Grains ETN (NYSE Arca: WEET) fell 7.9 percent, 7.47 percent, 6.76 percent and 5.01 percent, respectively.
Fund Flows Data: June 23 - June 30
Commodity ETF Weekly Flows By Asset Class
| Net Flows ($,mm) | AUM ($, mm) | % of AUM | |
| Agriculture | -10.52 | 12,963.24 | -0.08% |
| Broad Market | 22.42 | 15,731.53 | 0.14% |
| Energy | 46.01 | 35,395.90 | 0.13% |
| Industrial Metals | -13.44 | 3,112.90 | -0.43% |
| Precious Metals | -16.86 | 93,235.20 | -0.02% |
| Total: | 27.61 | 160,438.77 | 0.02% |
Top 5 Commodity ETF Creations
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| XLE | Energy Select SPDR | 218.55 | 9,011.39 | 2.49% |
| GDX | Market Vectors Gold Miners | 123.15 | 6,837.03 | 1.83% |
| XME | SPDR S&P Metals and Mining | 94.44 | 1,086.08 | 9.52% |
| MOO | Market Vectors Agribusiness | 67.71 | 5,538.75 | 1.24% |
| UNG | United States Natural Gas | 37.28 | 1,861.61 | 2.04% |
Top 5 Commodity ETF Redemptions
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| XOP | SPDR S&P Oil & Gas Exploration & Production | -143.00 | 907.98 | -13.61% |
| SLV | iShares Silver | -94.22 | 10,733.62 | -0.87% |
| ERX | Direxion Daily Energy Bull 3x | -64.39 | 408.81 | -13.61% |
| DBA | PowerShares DB Agriculture | -45.31 | 3,097.84 | -1.44% |
| GLD | SPDR Gold | -43.96 | 58,460.23 | -0.08% |
Top 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| GWO | ELEMENTS Credit Suisse Global Warming ETN | 9.49% | 3,566 | 0.00 |
| CU | First Trust ISE Global Copper | 9.00% | 888,761 | 209.00 |
| COPX | Global X Copper Miners | 8.65% | 258,418 | 87.00 |
| LD | iPath Dow Jones-UBS Lead Total Return ETN | 7.23% | 383,368 | 17.28 |
| XOIL | Global X Oil Equities | 7.12% | 30,064 | 3.57 |
Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| GRN | iPath Global Carbon ETN | -8.53% | 3,973 | 2.54 |
| GRU | ELEMENTS MLCX Grains - Total Return ETN | -7.89% | 656,539 | 25.37 |
| CORN | Teucrium Corn | -7.47% | 1,187,989 | 126.98 |
| JJG | iPath Dow Jones UBS Grains Subindex Total Return ETN | -6.76% | 1,223,891 | 266.75 |
| WEET | iPath Pure Beta Grains ETN | -5.01% | 9,911 | 6.18 |
Top 5 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| DBE | PowerShares DB Energy | 118,660 | 1,407,170 | 237.18% |
| USL | United States 12 Month Oil | 58,114 | 597,989 | 205.80% |
| PUW | PowerShares WilderHill Progressive Energy Portfolio | 19,024 | 158,163 | 166.28% |
| DGL | PowerShares DB Gold | 39,730 | 316,519 | 159.33% |
| GSP | iPath S&P GSCI Total Return ETN | 20,689 | 158,322 | 153.05% |
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.
