Copper ETFs Gain As Grain ETFs Suffer (XLE, GDX, XME, MOO, UNG, XOP, SLV, ERX, GLD, DBA)
Sumit Roy: For the first time in a long time, commodity-related ETPs saw their second straight week of inflows, as market sentiment improves.
It wasn’t much, but commodity-related exchange-traded products saw their second straight week of net inflows last week. Investors added a modest $28 million to the space. In turn, total assets inched higher, to $160.4 billion.
None of the individual sectors saw any outsized flows. Energy led with $46 million in inflows, followed by broad market (multicommodity) ETPs. Precious metals, industrial metals and agriculture saw outflows of $17 million, $13 million and $11 million, respectively.
The energy behemoth Energy Select Sector SPDR Fund (NYSE:XLE) continued to recover from recent withdrawals, as investors plowed $219 million into the fund, allowing it to take the top spot for the week.
The Market Vectors Gold Miners ETF (NYSE:GDX) and the SPDR S&P Metals and Mining ETF (NYSE:XME) followed, with $123 million and $94 million in inflows, respectively.
At spot No. 4 was a familiar name—the Market Vectors Agribusiness ETF (NYSE:MOO), with $68 million in inflows. Clearly, last week’s minor $18 million outflow was an anomaly in a trend that has seen MOO accumulate almost $1.2 billion in investor capital over eight weeks. Following MOO was the United States Natural Gas Fund (NYSE:UNG) at No. 5, with $37 million in inflows.
Though XLE took the top spot on the inflows list last week, another energy fund, the SPDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP), was No. 1 on the outflows list, with $143 million in withdrawals.
The rest of the list included the iShares Silver Trust (NYSE:SLV), the Direxion Daily Energy Bull 3x Shares (NYSE:ERX), the PowerShares DB Agriculture Fund (NYSE:DBA) and the SPDR Gold Trust (NYSE:GLD) with $94 million, $64 million, $45 million and $44 million in outflows, respectively.
Shifting gears to price performance for the week, base metals dominated the top performers list, though the Elements Credit Suisse Global Warming ETN (NYSE:GWO) led, with a 9.49 percent gain.
The First Trust ISE Global Copper Index Fund (NASDAQ:CU), the Global X Copper Miners ETF (NYSE:COPX) and the iPath Dow Jones-UBS Lead Subindex Total Return ETN (NYSE:LD) were next, with gains of 9 percent, 8.65 percent and 7.23 percent, respectively.
The Global X Oil Equities ETF (NYSE:XOIL) rounded out the top five, with a 7.12 percent rally.
It was all about grains when it comes to the worst performers of the week. The exception was the No. 1 product on the list, the iPath Global Carbon ETN (NYSE:GRN), which shed 8.53 percent.
The Elements MLCX Grains Index – Total Return ETN (NYSE:GRU), the Teucrium Corn Fund (NYSE:CORN), the iPath Dow Jones UBS Grains Subindex Total Return ETN (NYSE:JJG) and the iPath Pure Beta Grains ETN (NYSE:WEET) fell 7.9 percent, 7.47 percent, 6.76 percent and 5.01 percent, respectively.
Fund Flows Data: June 23 – June 30
Commodity ETF Weekly Flows By Asset Class
|% of AUM|
Top 5 Commodity ETF Creations
|AUM % Change|
|XLE||Energy Select SPDR||218.55||9,011.39||2.49%|
|GDX||Market Vectors Gold Miners||123.15||6,837.03||1.83%|
|XME||SPDR S&P Metals and Mining||94.44||1,086.08||9.52%|
|MOO||Market Vectors Agribusiness||67.71||5,538.75||1.24%|
|UNG||United States Natural Gas||37.28||1,861.61||2.04%|
Top 5 Commodity ETF Redemptions
|AUM % Change|
|XOP||SPDR S&P Oil & Gas Exploration & Production||-143.00||907.98||-13.61%|
|ERX||Direxion Daily Energy Bull 3x||-64.39||408.81||-13.61%|
|DBA||PowerShares DB Agriculture||-45.31||3,097.84||-1.44%|
Top 5 Weekly Performers, Excluding <1,000 Shares Traded
|GWO||ELEMENTS Credit Suisse Global Warming ETN||9.49%||3,566||0.00|
|CU||First Trust ISE Global Copper||9.00%||888,761||209.00|
|COPX||Global X Copper Miners||8.65%||258,418||87.00|
|LD||iPath Dow Jones-UBS Lead Total Return ETN||7.23%||383,368||17.28|
|XOIL||Global X Oil Equities||7.12%||30,064||3.57|
Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded
|GRN||iPath Global Carbon ETN||-8.53%||3,973||2.54|
|GRU||ELEMENTS MLCX Grains – Total Return ETN||-7.89%||656,539||25.37|
|JJG||iPath Dow Jones UBS Grains Subindex Total Return ETN||-6.76%||1,223,891||266.75|
|WEET||iPath Pure Beta Grains ETN||-5.01%||9,911||6.18|
Top 5 Volume Surprises, Funds >$50 mm AUM
|1 Week Average Volume||% of Average|
|DBE||PowerShares DB Energy||118,660||1,407,170||237.18%|
|USL||United States 12 Month Oil||58,114||597,989||205.80%|
|PUW||PowerShares WilderHill Progressive Energy Portfolio||19,024||158,163||166.28%|
|DGL||PowerShares DB Gold||39,730||316,519||159.33%|
|GSP||iPath S&P GSCI Total Return ETN||20,689||158,322||153.05%|
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.