Gold miner ETFs were among the best-performing funds in the week
ended Thursday, July 26, as gold prices benefited from the latest
news from the eurozone that suggested policymakers might be
prepared to engage in full-scale bond buying to prop up some of
Europe's weaker economies.
The Market Vectors Junior Gold Miners ETF (NYSEArca:GDXJ) tagged
on gains of 3.67 percent in the past five days amid an average
daily trading volume of more than 2.3 million shares. The fund now
boasts more than $2.12 billion in assets.
The iShares MSCI Global Gold Miners Index Fund (NYSEArca:RING)
was another top gainer, raking in 3.2 percent in gains.
On Thursday, the European central bank president said the ECB
would do whatever it took to preserve the euro-a move that eased
some of the market's concerns about the ongoing eurozone debt
crisis. But it also pushed gold futures to a multiweek high, while
putting downward pressure on the dollar.
Even though gold miner ETFs are equity funds, and are more
correlated to the broad stock market than to price action in the
yellow metal itself, strength in gold values helped support the
funds. The Dow Jones industrial average trended lower in the
five-day period ended Thursday, July 26, giving back 55 points in
the week, or 0.42 percent. But it rallied 1.67 percent on Thursday,
the last day of IndexUniverse's weekly tally.
Several volatility strategies also ranked high in the week-a
reflection of the prevailing uncertainty that's tainting market
sentiment. The bulk of the trading action took place in the iPath
S&P 500 VIX Short-Term Futures ETN (NYSEArca:VXX), which
rallied 6.37 percent, with more than 48 million shares trading, on
average, on a daily basis.
On the flip side, commodities funds were in the line of fire
this past week, as concerns about the health of the global
economy-as well as some improved weather conditions in key growing
areas around the world-helped pressure many markets lower.
Coffee futures, for instance, hit a three-week low at one point
during the week while the grains markets were hit by selling
The $5.4 million Teucrium Agricultural Fund (NYSEArca:TAGS) bled
9.5 percent in the Thursday-to-Thursday period, while a pair of
iPath Coffee ETNs each gave up around 8 percent in the week.
TAGS is a fund-of-funds ETF that combines equal weights of four
separate Teucrium single-commodity ETFs focused on corn, soybeans,
wheat and sugar.
Top 9 Weekly Performers, Excluding Leverage/Inverse Funds
and 'lt;1,000 Shares Traded
Bottom 10 Weekly Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
||AUM ($, mm)
||C-Tracks Exchange-Traded Notes on the Citi
||ProShares VIX Short-Term
||VelocityShares VIX Short Term ETN
||iPath S&P 500 VIX Short-Term Futures ETN
||iPath Pure Beta Seasonal Natural Gas ETN
||Market Vectors Junior Gold Miners
||iPath Pure Beta Cocoa ETN
||PIMCO 25+ Year Zero Coupon U.S. Treasury
||iShares MSCI Global Gold Miners
||AUM ($, mm)
||iPath Dow Jones-UBS Coffee Total Return ETN
||iPath Global Carbon ETN
||Global X FTSE Greece 20
||iPath Pure Beta Coffee ETN
||iPath Dow Jones-UBS Tin Total Return ETN
||Market Vectors Steel
||Market Vectors Indonesia Small Cap
||Market Vectors India Small-Cap
||PowerShares Global Steel Portfolio
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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