The Sugar ETN, Up 3.8%, Was Today’s Best Performing ETP

The iPath Bloomberg Sugar Sub-Index Total Return ETN (SGG) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a percentage basis, producing a +3.82% one-day return and outperforming the wider markets by a total of 3.13 percentage points.

Behind The Gains

SGG closed today at $47.34 per share, up $1.74 (+3.82%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $1.57 (+0.69%) on the day.

SGG’s trading volume today was a total of 116,466 shares, which was an increase of 36% versus its average daily trading volume of 85,407. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.

Including any dividends as well as today’s gains, SGG has now fallen a total of 9.1% year-to-date, versus a 2.6% gain in the S&P 500 during the same timeframe.

A Look Under The Hood

iPath Bloomberg Sugar Sub-Index Total Return ETN is a Commodity-focused product issued by iPath. Its expense ratio of 0.75% makes it the #53 cheapest ETF among 119 total funds in the Commodity ETFs category.

SGG currently boasts $38.86M in assets under management (AUM), placing it #50 of 119 ETFs in its category, and #1121 of 1922 total ETFs in the U.S. exchange traded universe.

The investment objective of the iPath Dow Jones-UBS Sugar Subindex Total Return ETN is to provide exposure to the Bloomberg Sugar Subindex Total Return. The Index reflects the returns that are potentially available through an unleveraged investment in the futures contracts on sugar. The Index currently consists of one futures contract on the commodity of sugar which is included in the Bloomberg Commodity Index Total Return.

Sugar prices jumped on tight supply concerns today, hence the big jump in SGG today.

SGG SMART Grade

SGG currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #56 of 120 funds in the Commodity ETFs category.

For more information about this ETF, including full ratings, news, data, and more, please visit SGG’s ticker page.

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