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by Sumit Roy

It was a slow week for ETP flows, but investors remained interested in precious metals.

It was an uneventful week for commodity-related exchange-traded product flows, as every sector saw only fractional movements.

Precious metals and broad market (multicommodity) ETPs had inflows of $70 million and $31 million, respectively. Agriculture, energy and industrial metals ETPs had outflows of $66 million, $62 million and $4 million, respectively.

ETP Inflows/Outflows

Given that sector movements were modest, naturally, flows into and out of individual ETPs were the same.

The iShares Silver Trust (SLV), Market Vectors Junior Gold Miners ETF (GDXJ) and Market Vectors Gold Miners ETF (GDX) were three precious metals products that took spots No. 1, 2 and 4 on the top inflows list. Investors added $68 million, $50 million and $47 million, respectively, to each.

Two energy names, the United States Natural Gas Fund (UNG) and Alerian MLP (AMLP) took spots Nos. 3 and 5, with inflows of $47 million and $45 million, respectively.

The outflows list also contained a mix of precious metals and energy ETPs, though the latter made up the bulk of the names.

The SPDR Gold Trust (GLD) was the worst performer of the week, as it lost $118 million.

The United States Oil Fund (USO), Direxion Daily Energy Bull 3x (ERX), ProShares Ultra DJ-UBS Crude Oil (UCO) and SPDR S&P Oil & Gas Exploration & Production (XOP) saw outflows of $43 million, $40 million, $22 million and $20 million, respectively.

ETP Price Performance

On the price performance side, the ELEMENTS Credit Suisse Global Warming ETN (GWO) led, with an 11.31 percent gain.

The iPath Dow Jones-UBS Nickel Subindex Total Return ETN (JJN), iShares MSCI ACWI ex-US Materials (AXMT), ETFS Physical Palladium (PALL) and iPath Pure Beta Industrial Metals ETN (HEVY) followed, with advances of 7.48 percent, 6.95 percent, 6.47 percent and 5.44 percent, respectively.

Meanwhile, two cocoa funds made an appearance on the worst price performers list.

The iPath Dow Jones-UBS Cocoa Subindex Total Return ETN (NIB) and iPath Pure Beta Cocoa ETN (CHOC) fell by 7.56 percent and 6.02 percent, respectively.

The iPath Dow Jones-UBS Natural Gas Total Return ETN (GAZ), Global X China Energy ETF (CHIE) and Global X Gold Explorers ETF (GLDX) also made the list, with losses of 6.02 percent, 5.8 percent and 5.59 percent, respectively.

Fund Flows Data: December 2 - December 8

Commodity ETF Weekly Flows By Asset Class

Net Flows

($,mm)

AUM

($, mm)

% of AUM
Agriculture -65.80 10,844.34 -0.61%
Broad Market 31.18 13,218.73 0.24%
Energy -62.33 29,992.05 -0.21%
Industrial Metals -3.99 1,869.51 -0.21%
Precious Metals 70.08 111,149.56 0.06%
Total: -30.86 167,074.20 -0.02%

Top 5 Commodity ETF Creations

Ticker Name Net Flows

($,mm)

AUM

($, mm)

AUM % Change
SLV iShares Silver 68.85 10,252.07 0.68%
GDXJ Market Vectors Junior Gold Miners 50.23 2,298.37 2.23%
UNG United States Natural Gas 47.46 1,293.19 3.81%
GDX Market Vectors Gold Miners 46.52 9,577.55 0.49%
AMLP Alerian MLP 45.26 1,792.33 2.59%

Top 5 Commodity ETF Redemptions

Ticker Name Net Flows

($,mm)

AUM

($, mm)

AUM % Change
GLD SPDR Gold -118.15 71,418.79 -0.17%
USO United States Oil -42.91 1,200.04 -3.45%
ERX Direxion Daily Energy Bull 3x -39.97 353.61 -10.16%
UCO ProShares Ultra DJ-UBS Crude Oil -21.72 270.09 -7.44%
XOP SPDR S&P Oil & Gas Exploration & Production -19.71 930.63 -2.07%

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

Ticker Name Weekly

Performance

Weekly Volume AUM

($, mm)

GWO ELEMENTS Credit Suisse Global Warming ETN 11.31% 13,952 0.00
JJN iPath Dow Jones-UBS Nickel Total Return ETN 7.48% 10,143 7.90
AXMT iShares MSCI ACWI ex-US Materials 6.95% 1,500 5.34
PALL ETFS Physical Palladium 6.47% 631,541 413.70
HEVY iPath Pure Beta Industrial Metals ETN 5.44% 1,100 1.50

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

Ticker Name Weekly

Performance

Weekly Volume AUM

($, mm)

NIB iPath Dow Jones-UBS Cocoa Total Return ETN -7.56% 247,206 17.26
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN -6.02% 608,321 68.00
CHOC iPath Pure Beta Cocoa ETN -6.02% 4,400 2.17
CHIE Global X China Energy -5.80% 3,655 4.03
GLDX Global X Gold Explorers -5.59% 68,169 24.72

Top 5 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume

(30 Day)

Weekly Volume % of Average
ENY Guggenheim Canadian Energy Income 60,859 463,819 152.42%
AGOL ETFS Physical Asian Gold 1,109 8,096 146.03%
PBD PowerShares Global Clean Energy Portfolio 54,480 373,467 137.10%
GEX Market Vectors Global Alternative Energy 34,832 234,406 134.59%
GSG iShares S&P GSCI Commodity 316,159 2,121,807 134.22%
Source: Commodity ETF Flows: Precious Metals, Broad Market ETPs Eke Out Inflows