Drought conditions across much of the U.S. grain belt helped
push commodities ETFs up another week, with funds tapping into
corn, wheat and grains in general coming out as the top returners
in the week ended Thursday, July 5.
The Teucrium Corn Fund (NYSEArca:CORN) was again one of the
best-performing ETFs this week, gaining another 10 percent on the
week, and extending its gains to more than 25 percent in the past
month alone.
CORN's price action is a clear indication that U.S. production
prospects are increasingly dire and the market is looking to price
in what could end up being a shortfall in corn supplies this
year.
The fund's gains came in a five-day period when the Dow Jones
industrial average climbed 2.3 percent to 12,896.67. However, much
of those gains were wiped out on Friday, July 6, when the
government reported that the U.S. economy generated just 80,000
jobs in June-fewer than the 95,000 that were expected.
The Teucrium Wheat ETF (NYSEArca:WEAT) told a similar tale. The
fund again ranked among the top-performing ETFs in the week, with
gains that exceeded 10 percent. WEAT is now up 20.7 percent in the
past month.
The iPath Dow Jones UBS Grains Total Return ETN (NYSEArca:JJG)
and the Elements MLCX Grains-Total Return ETN (NYSEArca:GRU) were
also caught in the bullish grain action. JJG gained 10.5
percent while GRU tagged on 10.2 percent in the past five days.
Still, the single best performing fund this week was the iPath
Global Carbon ETN (NYSEArca:GRN), which topped weekly performance
charts with returns of 32 percent.
It's worth noting that its rise is still ongoing as it added
another 14.7 percent in gains on Friday. IndexUniverse's
weekly performance survey looks at Thursday-to-Thursday data.
GRN is, however, a very small fund with about $1.5 million in
assets, and a daily trading volume that's pretty small. Indeed,
GRN's striking price gains came with fewer than 500 shares changing
hands, on average, on a daily basis.
Coal-focused funds PowerShares Global Coal Portfolio
(NYSEArca:PKOL) and the Market Vectors Coal ETF (NYSEArca:KOL) were
also solid gainers with returns of more than 10 percent each on the
week.
Bottom Performers
One of the worst-performing ETFs in the past week was the Market
Vectors Gulf States ETF (NYSEArca:MES). The fund bled 2.3 percent
in value, though trading volumes were thin.
The focus this week went again to volatility funds, which
dominated the bottom performers ranks.
Top 10 Weekly Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
| Ticker |
Name |
Weekly Performance |
Weekly Volume |
AUM ($, mm) |
| GRN |
iPath Global Carbon ETN |
32.17% |
2,014 |
1.46 |
| PKOL |
PowerShares Global Coal Portfolio |
10.66% |
22,573 |
10.16 |
| JJG |
iPath Dow Jones UBS Grains Total Return ETN |
10.59% |
507,104 |
179.39 |
| TCHI |
RBS China Trendpilot ETN |
10.57% |
3,867 |
3.79 |
| JO |
iPath Dow Jones-UBS Coffee Total Return ETN |
10.44% |
164,531 |
28.09 |
| WEAT |
Teucrium Wheat |
10.30% |
48,968 |
3.10 |
| GRU |
ELEMENTS MLCX Grains - Total Return ETN |
10.23% |
263,085 |
16.45 |
| CORN |
Teucrium Corn |
10.16% |
1,170,958 |
70.99 |
| KOL |
Market Vectors Coal |
10.11% |
580,173 |
183.96 |
| UGA |
United States Gasoline |
10.08% |
192,558 |
84.17 |
Bottom 10 Weekly Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
| Ticker |
Name |
Weekly Performance |
Weekly Volume |
AUM ($, mm) |
| CVOL |
C-Tracks Exchange-Traded Notes on the Citi
Volatility |
-20.39% |
177,998 |
6.71 |
| VXAA |
ETRACS 1-Month S&P 500 VIX Futures ETN |
-14.52% |
1,100 |
3.60 |
| VIIX |
VelocityShares VIX Short Term ETN |
-14.35% |
2,469,739 |
41.92 |
| VXX |
iPath S&P 500 VIX Short-Term Futures ETN |
-14.34% |
177,535,144 |
1,688.31 |
| VIXY |
ProShares VIX Short-Term |
-14.31% |
2,531,126 |
135.95 |
| VIXM |
ProShares VIX Mid-term |
-7.28% |
64,002 |
82.62 |
| VXZ |
iPath S&P 500 VIX Mid-Term Futures ETN |
-7.14% |
1,355,683 |
258.41 |
| LSC |
ELEMENTS S&P Commodity Trends Indicator - Total
Return ETN |
-3.90% |
150,402 |
29.24 |
| BTAL |
QuantShares U.S. Market Neutral Anti-Beta |
-2.71% |
147,985 |
9.47 |
| MES |
Market Vectors Gulf States |
-2.29% |
2,740 |
11.09 |
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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