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Overall inflows to commodity funds rebound from prior week’s drop-off, but the yellow metal’s price correction undercuts performance.

Positive inflows of investor capital returned to commodity-related exchange-traded products this past week ending Thursday, largely thanks to precious metals.

While commodity funds saw $171 million of inflows, only the precious metals and energy sectors saw net inflows, of $228 million and $76 million, respectively. Agriculture, industrial metals and broad market (multicommodity) funds registered outflows of $61 million, $39 million and $34 million, respectively.

Exchange-traded products (ETPs) include exchange-traded funds (ETFs), exchange-traded vehicles (ETVs) and exchange-traded notes (ETNs)

ETP Inflows/Outflows

One ETF in particular, the Market Vectors Gold Miners (NYSE Arca: GDX), took the lion’s share of inflows for the entire asset class, by attracting more than $227 million of investor money. That was followed by the Alerian MLP (NYSE Arca: AMLP) with $61 million, Energy Select SPDR (NYSE Arca: XLE) with $37 million, iPath S&P GSCI Crude Oil Total Return ETN (NYSE Arca: OIL) with $34 million and Market Vector Oil Services (NYSE Arca: OIH) with $27 million.

Energy funds populated the top outflows. The SPDR S&P Oil & Gas Exploration & Production (NYSE Arca: XOP) saw $51 million in outflows, followed by United States Natural Gas (NYSE Arca: UNG) with $40 million, JPMorgan Alerian MLP ETN (NYSE Arca: AMJ) with $39 million, Market Vectors Coal (NYSE Arca: KOL) with $30 million and Market Vectors Agribusiness (NYSE Arca: MOO) with $29 million.

ETP Price Performance

No sector can claim outperformance, as the top five gainers came from a mixed bag of sectors, led by the iPath Dow Jones-UBS Sugar Total Return ETN (NYSE Arca: SGG) with a gain of 6.52 percent. That was followed by the PowerShares WilderHill Clean Energy Portfolio (NYSE Arca: PBW) with a 5.83 percent gain, iPath Dow Jones-UBS Natural Gas Total Return ETN (NYSE Arca: GAZ) with a 5.43 percent increase, First Trust NASDAQ Clean Edge Green Energy (NYSE Arca: QCLN) with a 5.24 percent jump and PowerShares Global Steel Portfolio (NYSE Arca: PSTL) that added 4.98 percent.

Unlike the top performers, the worst-performing funds came from the precious metals sector and gold funds in particular. The Global X Pure Gold Miners (NYSE Arca: GGGG) lost 7.88 percent as the top underperformer. The Global X Gold Explorers (NYSE Arca: GLDX) took the third spot, with a 6.17 percent loss, Market Vectors Gold Miners (NYSE Arca: GDX) took the fourth position, with a 5.96 percent decline and Market Vectors Junior Gold Miners (NYSE Arca: GDXJ) followed GDX with a 5.52 percent fall.

The only nongold fund in the worst performers list was the iPath Dow Jones-UBS Cocoa Total Return ETN (NYSE Arca: NIB), which posted a 6.5 loss for the week.

Fund Flows Data: (March 9 - March 15, 2012)

Commodity ETF Weekly Flows By Sector

Net Flows

($,mm)

AUM

($, mm)

% of AUM
Agriculture -60.79 11,121.84 -0.55%
Broad Market -33.66 14,668.32 -0.23%
Energy 76.31 33,464.30 0.23%
Industrial Metals -38.85 1,908.99 -2.03%
Precious Metals 228.33 106,396.42 0.21%
Total: 171.34 167,559.87 0.10%

Top 5 Commodity ETF Creations

Ticker Name Net Flows

($,mm)

AUM

($, mm)

AUM % Change
GDX Market Vectors Gold Miners 227.14 8,008.54 2.92%
AMLP Alerian MLP 60.69 2,802.06 2.21%
XLE Energy Select SPDR 36.67 8,273.52 0.45%
OIL iPath S&P GSCI Crude Oil Total Return ETN 33.60 673.37 5.25%
OIH Market Vectors Oil Services 27.29 1,040.38 2.69%

Top 5 Commodity ETF Redemptions

Ticker Name Net Flows

($,mm)

AUM

($, mm)

AUM % Change
XOP SPDR S&P Oil & Gas Exploration & Production -50.64 1,037.69 -4.65%
UNG United States Natural Gas -39.77 829.27 -4.58%
AMJ JPMorgan Alerian MLP ETN -38.62 4,123.72 -0.93%
KOL Market Vectors Coal -30.23 260.29 -10.40%
MOO Market Vectors Agribusiness -28.83 6,001.90 -0.48%

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

Ticker Name Weekly

Performance

Weekly Volume AUM

($, mm)

SGG iPath Dow Jones-UBS Sugar Total Return ETN 6.52% 127,155 39.58
PBW PowerShares WilderHill Clean Energy Portfolio 5.83% 1,325,909 211.86
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN 5.43% 2,030,791 38.53
QCLN First Trust NASDAQ Clean Edge Green Energy 5.24% 15,549 20.36
PSTL PowerShares Global Steel Portfolio 4.98% 3,835 4.35

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

Ticker Name Weekly

Performance

Weekly Volume AUM

($, mm)

GGGG Global X PURE Gold Miners -7.88% 11,740 4.91
NIB iPath Dow Jones-UBS Cocoa Total Return ETN -6.50% 88,974 19.28
GLDX Global X Gold Explorers -6.17% 85,412 26.75
GDX Market Vectors Gold Miners -5.96% 66,260,796 8,008.54
GDXJ Market Vectors Junior Gold Miners -5.52% 13,258,107 2,052.21

Top 5 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume

(30 Day)

Weekly Volume % of Average
REMX Market Vectors Rare Earth/Strategic Metals 96,479 840,435 174.22%
MLPL ETRACS 2X Monthly Leveraged Long Alerian MLP Infrastructure ETN 30,329 261,513 172.45%
KOL Market Vectors Coal 313,700 2,614,250 166.67%
FXN First Trust Energy AlphaDEX 46,686 363,448 155.70%
DAG PowerShares DB Agriculture Double Long ETN 61,665 479,941 155.66%

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.

Source: Commodity ETF Flows: Gold Funds Drive Positive Inflows, But Underperform