Commodity Flows: Agribusiness ETF Grows, Sugar ETPs Surge (MOO, XLE, XOP, USO, GLD, GDX, ERX, URA)
Sumit Roy: Another quiet week for commodity-related ETPs as a whole, but MOO continues to attract interest.
Despite steep gains in stock and commodity markets over the course of the week (Friday notwithstanding), commodity-related, exchange-traded products actually saw a small $43 million net outflow.
As for individual sectors, agriculture saw the biggest inflow at $120 million, which is interesting considering that agriculture commodities were some of the worst performers. Industrial metals eked out a $19 million inflow.
Meanwhile, precious metals saw the biggest outflow at $95 million — also interesting given that gold and silver were some of the best performers of the week. Broad market (multi-commodity) and energy ETPs followed with $55 million and $31 million in outflows.
Agriculture’s outperformance was thanks once again to the Market Vectors Agribusiness ETF (NYSE:MOO), which received another $157 million of investor capital last week, taking its nine-week total to almost $1.4 billion.
SPDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP), Energy Select Sector SPDR Fund (NYSE:XLE), Market Vectors Junior Gold Miners ETF (NYSE:GDXJ), and iPath Dow Jones-UBS Lead Subindex Total Return ETN (NYSE:LD) rounded out the top five on the creations list with $90 million, $63 million, $62 million and $30 million in inflows, respectively.
The redemptions list featured some heavyweights, including the SPDR Gold Trust (NYSE:GLD), United States Oil Fund (NYSE:USO) and the Market Vectors Gold Miners ETF (NYSE:GDX) with outflows of $116 million, $95 million and $94 million.
Direxion Daily Energy Bull 3x Shares (NYSE:ERX) took the No.4 spot with $53 million in outflows and iPath Dow Jones – UBS Commodity Index Total Return ETN (NYSE:DJP) was No.5 with $40 million in outflows.
Sugar ETPs took the top spots on the price performers list for last week. iPath Pure Beta Sugar ETN (NYSE:SGAR) gained 11.8 percent, while iPath Dow Jones- UBS Sugar Subindex Total Return ETN (NYSE:SGG) rose by 9.86 percent.
Global X Uranium ETF (NYSE:URA), Global X Gold Explorers ETF (NYSE:GLDX), and iShares MSCI ACWI ex-US Materials Sector Index Fund (NYSE:AXMT) took the Nos. 3, 4, and 5 spots respectively, with advances of 9.05 percent, 7.25 percent, and 7.11 percent.
Finally, cotton ETPs dominated the bottom price performers list. iPath Dow Jones-UBS Cotton Subindex Total Return ETN (NYSE:BAL) fell 7.29 percent, while iPath Pure Beta Cotton ETN (NYSE:CTNN) shed 5.59 percent.
The next three spots belonged to grains, as Teucrium Corn Fund (NYSE:CORN) dropped 5.23 percent. ELEMENTS MLCX Grains Index – Total Return ETN (NYSE:GRU) and iPath Dow Jones – UBS Grains Subindex Total Return ETN (NYSE:JJG) fell 5.1 percent and 4.09 percent, respectively.
Fund Flows Data: July 1 – July 7
Commodity ETF Weekly Flows By Asset Class
|% of AUM|
Top 5 Commodity ETF Creations
|AUM % Change|
|MOO||Market Vectors Agribusiness ETF||157.20||5,793.69||2.79%|
|XOP||SPDR S&P Oil & Gas Exploration & Production ETF||89.87||1,034.28||9.52%|
|XLE||Energy Select SPDR Fund||62.68||9,325.70||0.68%|
|GDXJ||Market Vectors Junior Gold Miners ETF||62.06||2,216.31||2.88%|
|LD||iPath Dow Jones-UBS Lead Subindex Total Return ETN||30.37||48.14||170.93%|
Top 5 Commodity ETF Redemptions
|AUM % Change|
|GLD||SPDR Gold Trust||-115.58||59,191.33||-0.19%|
|USO||United States Oil Fund||-95.01||1,416.43||-6.29%|
|GDX||Market Vectors Gold Miners ETF||-94.31||6,949.36||-1.34%|
|ERX||Direxion Daily Energy Bull 3x Shares||-53.42||385.92||-12.16%|
|DJP||iPath Dow Jones-UBS Commodity Index Total Return ETN||-40.34||3,060.20||-1.30%|
Top 5 Weekly Performers, Excluding <1,000 Shares Traded
|SGAR||iPath Pure Beta Sugar ETN||11.80%||85,944||7.81|
|SGG||iPath Dow Jones-UBS Sugar Subindex Total Return ETN||9.86%||422,494||64.84|
|URA||Global X Uranium ETF||9.05%||1,126,387||238.64|
|GLDX||Global X Gold Explorers ETF||7.25%||312,069||25.82|
|AXMT||iShares MSCI ACWI ex-US Materials Sector Index Fund||7.11%||1,700||6.90|
Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded
|BAL||iPath Dow Jones-UBS Cotton Subindex Total Return ETN||-7.28%||426,431||48.40|
|CTNN||iPath Pure Beta Cotton ETN||-5.58%||12,450||5.52|
|CORN||Teucrium Corn Fund||-5.23%||2,056,200||121.95|
|GRU||ELEMENTS MLCX Grains Index – Total Return ETN||-5.10%||817,861||26.06|
|JJG||iPath Dow Jones UBS Grains Subindex Total Return ETN||-4.09%||1,941,417||284.80|
Top 5 Volume Surprises, Funds >$50 mm AUM
|1 Week Average Volume||% of Average|
|DGL||PowerShares DB Gold Fund||78,880||1,626,581||412.42%|
|JJM||iPath Dow Jones-UBS Industrial Metals Subindex Total Return ETN||17,504||251,651||287.53%|
|JJS||iPath Dow Jones-UBS Softs Subindex Total Return ETN||9,983||123,793||248.01%|
|DBB||PowerShares DB Base Metals Fund||164,575||2,020,742||245.57%|
|OIL||iPath S&P GSCI Crude Oil Total Return Index ETN||894,312||10,412,915||232.87%|
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.
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