Commodity funds as a whole saw net outflows, while agricultural funds outperformed. The battle between inflows and outflows of commodity-related exchange-traded funds continued to see-saw last week, with the asset class seeing a net loss of $192 million in investment capital for the week after regaining net inflows of more than $197 million the week before.
Precious metals funds continue to attract positive flows of capital, with investors sending more than $156 million that way. The only other sector to see inflows was broad market (multicommodity) funds, with more than $19 million.
Energy funds saw outflows of more than $241 million, followed by agriculture, with outflows of $109 million and then industrial metals, which lost more than $17 million in investment capital. Exchange-traded products (ETPs) include exchange-traded funds (ETFs), exchange-traded vehicles (ETVs) and exchange-traded notes (ETNs).
Metal and mining funds attracted the most investor capital. Market Vectors Gold Miner (GDX) took the top spot, with inflows of $116 million, followed by Market Vectors Junior Gold Miners (GDXJ) taking in $91 million, ProShares Ultra Silver (AGQ) with $68 million in inflows and SPDR S&P Metals and Mining (XME) raking in $57 million. Market Vectors Oil Services (OIH) was the only non-metal or miner fund in the top inflows, with $113 million.
Energy funds led outflows. SPDR S&P Oil & Gas Exploration Production (XOP) saw outflows of $199 million, followed by Energy Select SPDR (XLE), with $101 million. Market Vectors Agribusiness (MOO) was third, with more $76 million in outflows, followed by PowerShares DB Commodity Tracking (DBC) losing $69 million in flows and iShares Silver (SLV), which saw $50 million exit the fund.
ETP Price Performance
Agricultural funds dominated the top-performer list, with iPath Dow Jones-UBS Grain Total Return ETN (JJG) topping all funds, with a 6.82 percent gain. The grain complex benefited from the USDA's Prospective Planting report on March 30 showing fewer acres and stock of soybeans than expected. That was followed by iPath Dow Jones-UBS Nickel Total Return ETN (JJN), with a 6.74 percent gain, Teucrium Corn (CORN) with a 5.48 percent jump, ELEMENTS MLCX Grain - Total Return ETN (GRU) with a 5.12 percent increase and iPath Dow Jones-UBS Agricultural Total Return ETN (JJA), which jumped 4.75 percent.
Energy funds dominated the worst-performer list, with iPath Dow Jones-UBS Natural Gas Total Return ETN (GAZ) falling another 15.93 percent as its premium collapse continues to take a toll. That was followed by iPath Global Carbon ETN (GRN), which lost 9.99 percent, Market Vectors Solar Energy (KWT), which shed 9.76 percent, Guggenheim Solar (TAN) declining 7.88 percent and Global X Uranium (URA) falling 7.73 percent.
Fund Flows Data: (March 29 - April 5, 2012)
Disclaimer: Data provided by IndexUniverse. All data as of 6 a.m. Eastern the date of publication April 9. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.