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Commodity FUND FLOWS Report Commodity ETF Flows: Energy Funds See Surge In Inflows & Performance; GLD’s Attraction Remains- Written by Drew Voros |
- October 12, 2012
Commodity ETF Flows: Energy Funds See Surge In Inflows & Performance; GLD’s Attraction Remains
- Details
Rising crude oil and natural gas prices pull investors into related funds and fuels higher returns.
Inflows remained strong this past week, with energy funds finally unseating precious metals as the top sector for new capital as the commodity-related, exchange-traded products saw net inflows of $1.1 billion.
Energy-related funds attracted $840 million in new investment capital, followed by precious metals with $252 million, broad market (multicommodity) with $65 million and industrial metals with $ 4million.
Agriculture was the lone sector to see outflows, which totaled $24 million.
Exchange-traded products (ETPs) include exchange-traded funds (ETFs), exchange-traded vehicles (ETVs) and exchange-traded notes (ETNs).
ETP Inflows/Outflows
Energy funds took four of the top five inflows spots, as the Energy Select SPDR (NYSE Arca: XLE) led the category with $502 million in creations, followed by SPDR Gold (NYSE Arca: GLD), with $430 million, SPDR S&P Oil & Gas Exploration & Production (NYSE Arca: XOP) with $219 million, United States Natural Gas (NYSE Arca: UNG) with $120 million and Alerian MLP (NYSE Arca: AMLP) with $49 million in inflows.
Outflows were more of a mixed bag, with Market Vectors Gold Miners (NYSE Arca: GDX) leading with $128 million, followed by Market Vectors Oil Services (NYSE Arca: OIH) with $62 million, iShares Silver Trust (NYSE Arca: SLV) with $28 million, iShares S&P GSCI Commodity (NYSE Arca: GSG) with $21 million and iShares S&P North American Natural Resources (NYSE Arca: IGE), which saw $20 million of investment capital leave.
ETP Performance
Energy funds also outperformed in addition to leading inflows. United States Natural Gas (NYSE Arca: UNG) jumped 6.45 percent, followed by iPath Global Carbon ETN (NYSE Arca: GRN) with an increase of 6.33 percent, Market Vectors Coal (NYSE Arca: KOL) with a 5.38 percent jump, iPath Pure Beta Crude Oil ETN (NYSE Arca: OLEM) with a 5.10 percent appreciation and United States 12 Month Natural Gas (NYSE Arca: UNL), which rose 4.80 percent.
Another mixed bag of funds underperformed, with the iPath Dow Jones-UBS Coffee Total Return ETN (NYSE Arca: JO) falling 8.30 percent, followed by Elements Credit Suisse Global Warming ETN (NYSE Arca: GWO) with an 8.08 percent decrease, Guggenheim Solar (NYSE Arca: TAN) with a 6.11 percent drop, iPath Pure Beta Sugar ETN (NYSE Arca: SGAR) with a 6.03 percent slip and iPath Dow Jones UBS-Nickel Total Return ETN (NYSE Arca: JJN), which shed 5.82 percent.
Fund Flows Data: (October 5 - October 11, 2012)
Commodity ETF Weekly Flows By Sector
| Net Flows ($,mm) |
AUM ($, mm) |
% of AUM | |
| Agriculture | -24.42 | 10,346.52 | -0.24% |
| Broad Market | 64.67 | 14,573.16 | 0.44% |
| Energy | 839.72 | 35,367.46 | 2.37% |
| Industrial Metals | 3.87 | 1,663.54 | 0.23% |
| Precious Metals | 252.46 | 120,325.89 | 0.21% |
| Total: | 1,136.30 | 182,276.57 | 0.62% |
Top 5 Commodity ETF Creations
| Ticker | Name | Net Flows ($,mm) |
AUM ($, mm) |
AUM % Change |
| XLE | Energy Select SPDR | 501.54 | 7,867.07 | 6.81% |
| GLD | SPDR Gold | 429.76 | 76,232.32 | 0.57% |
| XOP | SPDR S&P Oil & Gas Exploration & Production | 219.26 | 953.57 | 29.86% |
| UNG | United States Natural Gas | 120.21 | 1,281.28 | 10.35% |
| AMLP | Alerian MLP | 49.46 | 4,292.61 | 1.17% |
Top 5 Commodity ETF Redemptions
| Ticker | Name | Net Flows ($,mm) |
AUM ($, mm) |
AUM % Change |
| GDX | Market Vectors Gold Miners | -128.78 | 9,835.99 | -1.29% |
| OIH | Market Vectors Oil Services | -61.73 | 1,029.12 | -5.66% |
| SLV | iShares Silver Trust | -27.82 | 10,893.88 | -0.25% |
| GSG | iShares S&P GSCI Commodity | -20.59 | 1,299.73 | -1.56% |
| IGE | iShares S&P North American Natural Resources | -19.74 | 1,831.95 | -1.07% |
Top 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance |
Weekly Volume | AUM ($, mm) |
| UNG | United States Natural Gas | 6.45% | 46,010,406 | 1,281.28 |
| GRN | iPath Global Carbon ETN | 6.33% | 11,608 | 1.23 |
| KOL | Market Vectors Coal | 5.38% | 1,826,587 | 220.18 |
| OLEM | iPath Pure Beta Crude Oil ETN | 5.10% | 516,507 | 5.29 |
| UNL | United States 12 Month Natural Gas | 4.80% | 256,814 | 54.53 |
Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance |
Weekly Volume | AUM ($, mm) |
| JO | iPath Dow Jones-UBS Coffee Total Return ETN | -8.30% | 313,693 | 40.69 |
| GWO | ELEMENTS Credit Suisse Global Warming ETN | -8.08% | 4,625 | 0.00 |
| TAN | Guggenheim Solar | -6.11% | 120,642 | 43.76 |
| SGAR | iPath Pure Beta Sugar ETN | -6.03% | 1,300 | 2.57 |
| JJN | iPath Dow Jones-UBS Nickel Total Return ETN | -5.82% | 3,567 | 6.35 |
Top 5 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) |
Weekly Volume | % of Average |
| GLL | ProShares UltraShort Gold | 204,605 | 1,880,054 | 183.77% |
| DBE | PowerShares DB Energy | 72,803 | 667,072 | 183.25% |
| KOL | Market Vectors Coal | 238,412 | 1,826,587 | 153.23% |
| DJCI | ETRACS DJ-Commodity Total Return ETN | 5,739 | 40,908 | 142.55% |
| AMJ | JPMorgan Alerian MLP ETN | 678,248 | 4,207,088 | 124.06% |
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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