The markets continued their pace of recovery from the mid-summer
dip this week, which included a new closing high in the S&P 500
In addition to receiving the latest minutes from the monthly
Federal Reserve meeting, central bankers were gathered in Jackson
Hole, Wyoming, on Friday for their annual conference discussing
global economic policy.
The following ETFs represent a sample of the best and worst
performing funds over the last five trading sessions:
BEST: India Small Cap Stocks
After leading the way as one of the top ETFs in the first half
of 2014, the Market Vectors India Small Cap ETF (NYSE:
) has regained some recent momentum. SCIF jumped more than 5.5
percent this week as the government's efforts to reduce the budget
deficit in this emerging market country
boosted its currency
So far this year, SCIF has gained 47.54 percent after having
touched a high of almost 70 percent in June. Indian stocks and
bonds have been a favored market for investors looking to diversify
their holdings overseas at a time when domestic markets are seen by
many as being overvalued.
Another well-known ETF that tracks larger stocks of profitable
businesses in this country is the WisdomTree India Earnings Fund
WORST: Gold And Silver Miners
Gold and silver miners were adversely affected by hawkish tones
from the Fed this week, in addition to sliding precious metals
prices. The Global X Gold Explorers ETF (NYSE:
) fell more than 4 percent, while the Global X Silver Miners ETF
) dropped more than 3.5 percent.
GLDX tracks 20 companies engaged in the exploration of gold
deposits. The largest country allocation in this ETF is Canada,
with more than 80 percent of the underlying exposure. By contrast,
SIL holds 25 stocks focused on silver mining, exploration or
Despite strong gains in June and July, these ETFs have started
to slip lower amid renewed selling pressure in gold and silver
bullion. Mining and exploration stocks will face a key test of
support in the near future that may determine how they fare for the
remainder of the year.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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