Seeking Alpha

ETF Performance Over the Past Week: Four Metrics of Comparison

Jul 30 2007, 05:33 by: Michael Bommarito | includes: BKK, DIA, DOG, EEM, EWW, EWY, EWZ, IEZ, IGR, IIA, ITB, IWM, IYR, JDD, JRS, MVV, MXE, MZZ, NRK, NXK, OIH, PXJ, QID, QQQ, RHY, RMA, RMH, RWM, RXD, SDD, SDS, SH, SJH, SJL, SKF, SKK, SLX, SMN, SPY, SRS, TBH, TF, TRF, TWM, URE, USO, UVT, UVU, UWM, UYG, XES, XHB, XLE

Top 10 Best and Worst YTD ETF and CEF Returns
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Top 10 Most VIX-Correlated ETFs and CEFs Over the Past Week and Month

Week
A majority of these funds are municipal funds from BlackRock and Nuveen (NKO, NXK, BKK, NGB, RNJ), with the rest being comprised of other bond/income trusts and short funds.

ETF Vix week

Month
Every last one of these funds is a ProShares short fund. Given that no other issuer has short/inverse funds in this top 10, I think this makes it quite clear that ProShares ETFs likely have some direct holding with high negative correlation to the VIX.

ETF Vix month