Investors retreated from commodity-related exchange-traded funds this past week, ending with a total of $955 million in outflows that touched every sector.
Energy funds lost $772.6 million last week, followed by broad market (multicommodity) funds, with $67 million in outflows, precious metals with $46 million, agriculture lost $43 million in flows and industrial metals recorded $28 million in outflows.
Exchange-traded products (ETPs) include exchange-traded funds, exchange-traded vehicles (ETVs) and exchange-traded notes.
Market Vectors Gold Miners Arca (NYSEARCA:GDX) collected the most inflows — $77 million — for the week ending Thursday. The other top inflows, oddly enough, came from energy funds. Alerian MLP (NYSEARCA:AMLP) raked in $49 million, followed by JPMorgan Alerian MLP ETN (NYSEARCA:AMJ) with $48 million in inflows, Direxion Daily Energy Bull 3X (NYSEARCA:ERX) with $45 million, and Vanguard Energy (NYSEARCA:VDE) came in fifth, with $20 million in inflows.
However, it was Energy Select SPDR (NYSEARCA:XLE) that tipped the outflows scales, losing $561 million, followed by a host of energy funds. United States Oil (NYSEARCA:USO) saw $101 million in outflows, followed by non-energy SPDR S&P Metals and Mining (NYSEARCA:XME), with $58 million; iPath S&P GSCI Crude Oil Total Return ETN (NYSEARCA:OIL) seeing $44 million in outflows; and United States Natural Gas (NYSEARCA:UNG) chalking up $40 million in outflows.
ETP Price Performance
Energy fund iPath Global Carbon ETN (NYSEARCA:GRN) was the top performer for the week, with an appreciation of 17.24 percent, followed by PowerShares DB Commodity Long ETN (NYSEARCA:DPU), which rose 8.62 percent; Global X PURE Gold Miners (NYSEARCA:GGGG) and ETFS Physical Asian Gold (NYSEARCA:AGOL), which both increased 3.98 percent; and Market Vectors Junior Gold Miners (NYSEARCA:GDXJ), which climbed 3.9 percent.
Natural gas funds dominated the underperformers, as prices fell to new 10-year lows below $2/mmbtu. Leading the pack for the third straight week was iPath Dow Jones – UBS Natural Gas Total Return (NYSEARCA:GAZ), which fell 11.35 percent on the back of falling natgas prices as well as a premium collapse. That was followed by United States Natural Gas (UNG), which dropped 7.04 percent; iPath Pure Beta Copper ETN (NYSEARCA:CUPM), which shed 6.33 percent; ETRACS CMCI Industrial Metals Total Return ETN (NYSEARCA:UBM), which declined 5.33 percent and United States 12 Month Natural Gas (NYSEARCA:UNL), which dipped 5.26 percent.
Fund Flows Data: (April 5 - April 11, 2012)
Commodity ETF Weekly Flows By Sector
Net Flows |
|% of AUM|
Top 5 Commodity ETF Creations
Net Flows |
|AUM % Change|
|GDX||Market Vectors Gold Miners||77.41||8,159.47||0.96%|
|AMJ||JPMorgan Alerian MLP ETN||48.10||4,079.53||1.19%|
|ERX||Direxion Daily Energy Bull 3x||45.44||386.91||13.31%|
Top 5 Commodity ETF Redemptions
Net Flows |
|AUM % Change|
|XLE||Energy Select SPDR||-560.47||7,279.94||-7.15%|
|USO||United States Oil||-101.28||1,328.38||-7.08%|
|XME||SPDR S&P Metals and Mining||-58.16||745.74||-7.23%|
|OIL||iPath S&P GSCI Crude Oil Total Return ETN||-44.38||584.44||-7.06%|
|UNG||United States Natural Gas||-39.93||711.66||-5.31%|
Top 5 Weekly Performers, Excluding <1,000 Shares Traded
|GRN||iPath Global Carbon ETN||17.24%||6,176||1.21|
|DPU||PowerShares DB Commodity Long ETN||8.62%||8,940||6.47|
|GGGG||Global X PURE Gold Miners||3.98%||21,243||4.70|
|AGOL||ETFS Physical Asian Gold||3.98%||4,486||74.72|
|GDXJ||Market Vectors Junior Gold Miners||3.90%||24,347,674||2,038.04|
Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded
|GAZ||iPath Dow Jones-UBS Natural Gas Total Return ETN||-11.35%||2,923,321||29.28|
|UNG||United States Natural Gas||-7.04%||45,011,346||711.66|
|CUPM||iPath Pure Beta Copper ETN||-6.33%||5,628||2.57|
|UBM||ETRACS CMCI Industrial Metals Total Return ETN||-5.33%||26,362||5.52|
|UNL||United States 12 Month Natural Gas||-5.26%||209,418||27.33|
Top 5 Volume Surprises, Funds >$50 mm AUM
Average Volume |
|Weekly Volume||% of Average|
|AGOL||ETFS Physical Asian Gold||338||4,486||265.18%|
|WOOD||iShares S&P Global Timber & Forestry||16,465||188,175||228.57%|
|COW||iPath Dow Jones-UBS Livestock Total Return ETN||40,193||455,481||226.65%|
|ENY||Guggenheim Canadian Energy Income||35,402||331,155||187.08%|
|RJI||ELEMENTS Rogers International Commodity - Total Return ETN||384,888||3,415,182||177.46%|
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.