By Drew Voros
For a second-straight week, all commodity asset classes attract positive inflows.
Investors continued sending capital to commodity-related exchange-traded products this past week ending Thursday, even though precious metals such as gold and silver saw major price corrections.
Precious metals led the positive wave of inflows to all asset classes, with $588 million in new investments, followed by energy, with $348 million; broad market (multicommodity), with $207 million; industrial metals, with $109 million; and agriculture, with $42 million in inflows.
Exchange-traded products (ETPs) include exchange-traded funds (ETFs), exchange-traded vehicles (ETVs) and exchange-traded notes (ETNs).
ETP Inflows/Outflows
Precious metals and energy funds populate the top inflows. The largest commodity ETF by assets, SPDR Gold (GLD), attracted $516 million in inflows, followed by PowerShares DB Commodity Tracking (DBC), PowerShares DB Oil (DBO), Alerian MLP (AMLP) and Energy Select SPDR (XLE), with inflows of $124 million, $118 million, $82 million and $71 million, respectively.
Precious metals and energy funds also dominate the top redemptions for the week. Market Vectors Oil Services (OIH) saw outflows of $186 million, followed by Market Vectors Gold Miners (GDX), SPDR S&P Metals and Mining (XME), SPDR S&P Oil & Gas Exploration & Production (XOP) and Market Vectors Junior Gold Miners (GDXJ) with outflows of $156 million, $52 million, $45 million and $16 million, respectively.
ETP Price Performance
Agricultural funds outperformed this week, with iPath Pure Beta Sugar ETN (SGAR) leading all commodity-related funds, with a gain of 4.58 percent. Teucrium Wheat (WEAT) rose 4.18 percent, followed by iPath Dow Jones-UBS Aluminum Total Return ETN (JJU), with a 4.11 percent increase; iShares MSCI ACWI ex-US Materials (AXMT), with a 3.9 percent gain; and PowerShares DB Base Metals (DBB), with a 3.62 percent rise.
The worst performers of the week were all energy funds, led by iPath Global Carbon ETN (GRN), with a loss of 10.84 percent, followed by United States Natural Gas (UNG), with a 10.53 percent decline; United States 12 Month Natural Gas (UNL), with an 8.64 percent loss; Teucrium Natural Gas Fund (NAGS), with an 8.57 percent fall; and Guggenheim Solar (TAN), with a 7.74 percent decline.
Fund Flows Data: (February 24 - March 1)
Commodity ETF Weekly Flows By Asset Class
| Net Flows ($,mm) | AUM ($, mm) | % of AUM | |
| Agriculture | 41.69 | 11,346.26 | 0.37% |
| Broad Market | 207.08 | 15,004.27 | 1.38% |
| Energy | 347.61 | 34,217.34 | 1.02% |
| Industrial Metals | 108.67 | 2,029.97 | 5.35% |
| Precious Metals | 588.46 | 111,887.88 | 0.53% |
| Total: | 1,293.50 | 174,485.72 | 0.74% |
Top 5 Commodity ETF Creations
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| GLD | SPDR Gold | 515.95 | 71,262.25 | 0.73% |
| DBC | PowerShares DB Commodity Tracking | 123.89 | 6,647.96 | 1.90% |
| DBO | PowerShares DB Oil | 118.44 | 777.82 | 17.96% |
| AMLP | Alerian MLP | 82.11 | 2,771.12 | 3.05% |
| XLE | Energy Select SPDR | 70.65 | 8,567.53 | 0.83% |
Top 5 Commodity ETF Redemptions
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| OIH | Market Vectors Oil Services | -185.65 | 1,066.29 | -14.83% |
| GDX | Market Vectors Gold Miners | -156.36 | 8,926.78 | -1.72% |
| XME | SPDR S&P Metals and Mining | -52.32 | 844.88 | -5.83% |
| XOP | SPDR S&P Oil & Gas Exploration & Production | -44.92 | 980.58 | -4.38% |
| GDXJ | Market Vectors Junior Gold Miners | -15.61 | 2,386.39 | -0.65% |
Top 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| SGAR | iPath Pure Beta Sugar ETN | 4.58% | 1,452 | 2.71 |
| WEAT | Teucrium Wheat | 4.18% | 21,876 | 2.16 |
| JJU | iPath Dow Jones-UBS Aluminum Total Return ETN | 4.11% | 10,810 | 5.88 |
| AXMT | iShares MSCI ACWI ex-US Materials | 3.90% | 2,720 | 2.95 |
| DBB | PowerShares DB Base Metals | 3.62% | 796,110 | 385.06 |
Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| GRN | iPath Global Carbon ETN | -10.84% | 4,746 | 1.50 |
| UNG | United States Natural Gas | -10.53% | 60,141,971 | 887.92 |
| UNL | United States 12 Month Natural Gas | -8.64% | 514,008 | 28.68 |
| NAGS | Teucrium Natural Gas Fund | -8.57% | 25,024 | 1.76 |
| TAN | Guggenheim Solar | -7.74% | 630,142 | 84.41 |
Top 5 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | Weekly Volume | % of Average |
| JJT | iPath Dow Jones-UBS Tin Total Return ETN | 46,021 | 1,043,244 | 453.38% |
| GSP | iPath S&P GSCI Total Return ETN | 112,040 | 2,418,606 | 431.74% |
| JJM | iPath Dow Jones-UBS Industrial Metals Total Return ETN | 21,627 | 343,481 | 317.64% |
| PHO | PowerShares Water Resources Portfolio | 237,729 | 3,688,852 | 310.34% |
| RJN | ELEMENTS Rogers International Commodity - Energy Total Return ETN | 134,275 | 1,977,391 | 294.53% |
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.
