A group of Europe-focused ETFs ranked among the day's
worst-performing funds Thursday, July 5, with the iShares MSCI
Spain Index Fund (NYSEArca:EWP) leading the decline with losses of
more than 4.83 percent on the heels of a round of central bank
moves aimed at reducing borrowing costs.
The iShares MSCI Italy Index Fund (NYSEArca:EWI) dropped 4.7
percent, while the iShares MSCI France Index Fund (NYSEArca:EWQ)
slid 3.1 percent in a day when the 10-worst-performing funds
focused on international equities-primarily European stocks.
All at once, the European Central Bank, as well as China's and
Denmark's central banks, slashed their official borrowing rates
Thursday, the first two in hopes of spurring growth in the region,
while the latter was trying to keep its economic strength from
overtaking its domestic currency peg to the euro.
Also Thursday, the Bank of England earmarked fresh funds to
expand its quantitative easing program as it looks to protect its
local economy from negative spillover from the eurozone debt
crisis.
Still, the U.S. stock market was relatively muted in its
reaction to the global news, and ended up closing lower on the day
on renewed worries about U.S. economic growth. The Dow Jones
industrial average closed 47.15 points lower, or 0.4 percent, at
12,896.67, after having traded slightly higher at one point in the
day.
On the flip side, commodities-related ETFs provided another
round of solid daily returns to investors who have capitalized on
what's becoming one of the worst U.S. droughts in recent
memory.
A National Weather Service assessment released late Thursday
said that as much as 56 percent of the continental U.S. is facing
drought conditions at a time when U.S. grain and oilseed crops are
in the ground. The hot, dry weather is weighing on crop yield
forecasts.
The PowerShares DB Agriculture Long ETN (NYSEArca:AGF) rose 6.2
percent Thursday, while the Teucrium Wheat ETF (NYSEArca:WEAT)
tagged on 4.76 percent in gains.
But the top-performing fund Thursday was the Elements MLCX
Biofuels Total Return ETN (NYSEArca:FUE). The fund gained 7.6
percent on the day.
Top 10 1-Day Performers, Excluding Leverage/Inverse Funds
and 'lt;1,000 Shares Traded
| Ticker |
Name |
1-Day Performance |
1-Day Volume |
AUM ($, mm) |
| FUE |
ELEMENTS MLCX Biofuels Total Return ETN |
7.65% |
14,618 |
2.46 |
| AGF |
PowerShares DB Agriculture Long ETN |
6.18% |
9,155 |
12.40 |
| JJE |
iPath Dow Jones-UBS Energy Total Return ETN |
5.97% |
1,800 |
11.55 |
| EMCD |
SPDR BofA Merrill Lynch Emerging Markets Corporate
Bond |
4.94% |
1,300 |
15.16 |
| BLND |
ETRACS DJ-UBS Commodity Index 2-4-6 Blended Futures
ETN |
4.91% |
5,320 |
10.00 |
| WEAT |
Teucrium Wheat |
4.76% |
20,128 |
3.10 |
| GRU |
ELEMENTS MLCX Grains - Total Return ETN |
4.65% |
140,818 |
16.45 |
| UGEM |
EGShares Utilities GEMS |
4.47% |
15,975 |
2.66 |
| JJG |
iPath Dow Jones UBS Grains Total Return ETN |
4.38% |
315,976 |
179.39 |
| CVOL |
C-Tracks Exchange-Traded Notes on the Citi
Volatility |
4.28% |
5,304 |
6.71 |
Bottom 10 1-Day Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
| Ticker |
Name |
1-Day Performance |
1-Day Volume |
AUM ($, mm) |
| EWP |
iShares MSCI Spain |
-4.83% |
787,263 |
169.77 |
| EWI |
iShares MSCI Italy |
-4.73% |
735,884 |
143.62 |
| FEZ |
SPDR Euro STOXX 50 |
-3.41% |
567,461 |
619.99 |
| EWQ |
iShares MSCI France |
-3.17% |
1,927,398 |
278.21 |
| IPU |
SPDR S&P International Utilities |
-3.09% |
7,549 |
13.46 |
| NORW |
Global X FTSE Norway |
-3.09% |
54,051 |
44.15 |
| EZU |
iShares MSCI EMU |
-3.01% |
876,192 |
726.57 |
| EWO |
iShares MSCI Austria Investable Market |
-2.95% |
11,701 |
53.88 |
| PIN |
PowerShares India Portfolio |
-2.88% |
905,150 |
387.52 |
| EUFN |
iShares MSCI-Europe Financials |
-2.86% |
18,544 |
21.90 |
Disclaimer:All data as of 6 a.m. Eastern time the date the
article is published. 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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