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Commodity FUND FLOWS Report Commodity ETF Flows: Gold Funds Attract Strong Inflows; Oil Funds Underperform- Written by Drew Voros |
- October 26, 2012
Commodity ETF Flows: Gold Funds Attract Strong Inflows; Oil Funds Underperform
- Details
Flows rebound to the plus side for commodity-related funds.
Inflows to commodity-related, exchange-traded products rebounded to the plus side this past week, as a net total of $273 million in new investment capital flowed into the space.
Precious metals funds, driven by gold-related funds specifically, led other sectors, with $574 million in new inflows, followed by broad market (multicommodity), with $110 million and industrial metals, with $4.53 million.
Energy funds led outflows, with $391 million, followed by agriculture, with $24 million.
Exchange-traded products (ETPs) include exchange-traded funds (ETFs), exchange-traded vehicles (ETVs) and exchange-traded notes (ETNs).
ETP Inflows/Outflows
Gold funds topped inflows, with Market Vectors Gold Miners (NYSE Arca: GDX) collecting $294 million in new capital, followed by SPDR Gold (NYSE Arca: GLD) with $167 million, United States Oil (NYSE Arca: USO) with $111 million, ProShares Ultra DJ-UBS Crude Oil (NYSE Arca: UCO) with $107 million and iShares Gold Trust (NYSE Arca: IAU) taking in $81 million.
Energy funds dominated outflows, with Energy Select SPDR (NYSE Arca: XLE) losing $454 million in capital, SPDR S&P Oil & Gas Exploration & Production (NYSE Arca: XOP) shedding $142 million, iShares S&P Global Energy (NYSE Arca: IXC) dropping $24 million, Credit Suisse Cushing 30 MLP ETN (NYSE Arca: MLPN) with $20 million and ProShares Ultra Oil & Gas (NYSE Arca: DIG) with $18 million in outflows.
ETP Performance
Ag and energy funds were the best performers, with Elements Credit Suisse Global Warming ETN (NYSE Arca: GWO) jumping 9.40 percent, followed by iPath Pure Beta Grain ETN (NYSE Arca: WEET) with a 3.26 percent increase, iPath Pure Beta Energy ETN (NYSE Arca: ONG) with a 3.06 rise, Elements MLCX Biofuels Total Return ETN (NYSE Arca: FUE) with a 2.58 percent spike and Teucrium Wheat (NYSE Arca: WEAT) adding 1.82 percent.
Energy funds also dominated the worst performers, with Market Vectors Solar Energy (NYSE Arca: KWT) slipping 7.27 percent, followed by iPath S&P GSCI Crude Oil Total Return ETN (NYSE Arca: OIL) with a 6.99 percent decrease, RBS Oil Trendpilot ETN (NYSE Arca: TWTI) with a 6.85 percent drop, United States Oil (NYSE Arca: USO) with a 6.72 percent fall and iShares S&P Global Clean Energy (NYSE Arca: ICLN) shedding 6.57 percent.
Fund Flows Data: (October 19 - 25, 2012)
Commodity ETF Weekly Flows By Sector
| Net Flows ($,mm) |
AUM ($, mm) |
% of AUM | |
| Agriculture | -23.80 | 10,249.81 | -0.23% |
| Broad Market | 109.75 | 14,137.64 | 0.78% |
| Energy | -391.17 | 34,317.85 | -1.14% |
| Industrial Metals | 4.53 | 1,614.97 | 0.28% |
| Precious Metals | 574.04 | 116,588.79 | 0.49% |
| Total: | 273.36 | 176,909.06 | 0.15% |
Top 5 Commodity ETF Creations
| Ticker | Name | Net Flows ($,mm) |
AUM ($, mm) |
AUM % Change |
| GDX | Market Vectors Gold Miners | 293.57 | 10,032.45 | 3.01% |
| GLD | SPDR Gold | 167.45 | 73,715.52 | 0.23% |
| USO | United States Oil | 111.05 | 1,241.28 | 9.83% |
| UCO | ProShares Ultra DJ-UBS Crude Oil | 107.22 | 449.30 | 31.34% |
| IAU | iShares Gold Trust | 81.15 | 11,502.94 | 0.71% |
Top 5 Commodity ETF Redemptions
| Ticker | Name | Net Flows ($,mm) |
AUM ($, mm) |
AUM % Change |
| XLE | Energy Select SPDR | -453.83 | 7,190.83 | -5.94% |
| XOP | SPDR S&P Oil & Gas Exploration & Production | -141.87 | 696.21 | -16.93% |
| IXC | iShares S&P Global Energy | -23.67 | 1,080.03 | -2.14% |
| MLPN | Credit Suisse Cushing 30 MLP ETN | -20.20 | 296.60 | -6.38% |
| DIG | ProShares Ultra Oil & Gas | -18.42 | 223.15 | -7.63% |
Top 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance |
Weekly Volume | AUM ($, mm) |
| GWO | ELEMENTS Credit Suisse Global Warming ETN | 9.40% | 17,225 | 3.44 |
| WEET | iPath Pure Beta Grains ETN | 3.26% | 8,302 | 2.81 |
| ONG | iPath Pure Beta Energy ETN | 3.06% | 29,500 | 2.39 |
| FUE | ELEMENTS MLCX Biofuels Total Return ETN | 2.58% | 7,940 | 1.79 |
| WEAT | Teucrium Wheat | 1.82% | 77,132 | 3.01 |
Bottom 5 Weekly Performers, Excluding <1,000 Shares Traded
| Ticker | Name | Weekly Performance |
Weekly Volume | AUM ($, mm) |
| KWT | Market Vectors Solar Energy | -7.27% | 15,756 | 9.56 |
| OIL | iPath S&P GSCI Crude Oil Total Return ETN | -6.99% | 3,669,981 | 399.26 |
| TWTI | RBS Oil Trendpilot ETN | -6.85% | 7,367 | 7.34 |
| USO | United States Oil | -6.72% | 65,611,488 | 1,241.28 |
| ICLN | iShares S&P Global Clean Energy | -6.57% | 64,919 | 24.38 |
Top 5 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) |
Weekly Volume | % of Average |
| RJN | ELEMENTS Rogers International Commodity - Energy Total Return ETN | 81,191 | 1,156,856 | 284.97% |
| DJCI | ETRACS DJ-Commodity Total Return ETN | 6,020 | 73,309 | 243.55% |
| USCI | United States Commodity | 62,108 | 615,859 | 198.32% |
| FXN | First Trust Energy AlphaDEX | 68,747 | 581,154 | 169.07% |
| ENY | Guggenheim Canadian Energy Income | 26,199 | 203,716 | 155.52% |
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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