Gold and silver miner
ETFs
were some of the worst-performing funds in the week ended Thursday,
Nov. 15, as the Market Vectors Junior Gold Miners ETF
(NYSEArca:GDXJ) led the pack lower, with losses of 11.6
percent.
Indeed, eight out of the 10 worst-performing ETFs in the past
five-day period were gold and silver miners funds. Miner stocks
have often underperformed their underlying commodities, and the
past week was clear evidence of that.
Gold prices slipped to one-week lows Thursday, as investors sold
the precious metal amid growing uncertainty surrounding the U.S.
economy. As a Hard Asset Investors report put it, many investors
seemed to be selling gold in order to cover losses elsewhere.
"This is a very highly charged emotional period in investment
history," DLS Capital Management's Managing Partner David Steinberg
said of the price action. "That's all I can say."
GDXJ slid 11.6 percent in five days, while the Market Vectors
Gold Miners ETF (NYSEArca:GDX) bled 10.6 percent. GDX also saw
hefty volume as it moved lower-more than 16 million shares of the
fund traded hands, on average, every day.
A total of five Global X-sponsored miner ETFs were also found in
that mix, with the Global X Gold Explorers ETF (NYSEArca:GLDX)
earning the distinction of being the week's second worst-performing
fund, tallying losses of 11.3 percent.
In all, the poor performance by the mining-stocks-focused
strategies came in as the Dow Jones industrial average gave back
269 points, or 2.1 percent in the week.
On the flip side, a plethora of commodities strategies,
including the ETFS Physical Palladium ETF (NYSEArca:PALL), the
Etracs CMCI Silver Total Return ETN (NYSEArca:USV), as well as the
United States Gasoline Fund (NYSEArca:UGA), were among the week's
best-returning funds.
The Etracs CMCI Long Platinum Total Return ETN (NYSEArca:PTM)
was the best-performing fund in the past five days. The $39 million
strategy rallied 5.64 percent.
Top 10 Weekly Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
| Ticker |
Name |
Weekly Performance |
Weekly Volume |
AUM ($, mm) |
| PTM |
ETRACS CMCI Long Platinum Total Return ETN |
5.64% |
537,396 |
38.96 |
| NIB |
iPath Dow Jones-UBS Cocoa Total Return ETN |
4.68% |
93,762 |
33.20 |
| CHOC |
iPath Pure Beta Cocoa ETN |
4.50% |
24,687 |
5.59 |
| USV |
ETRACS CMCI Silver Total Return ETN |
3.87% |
41,578 |
7.31 |
| NAGS |
Teucrium Natural Gas |
3.37% |
5,308 |
5.10 |
| BAL |
iPath Dow Jones-UBS Cotton Total Return ETN |
3.30% |
161,295 |
32.03 |
| UGA |
United States Gasoline |
2.83% |
146,869 |
64.83 |
| EPOL |
iShares MSCI Poland Investable Market |
2.81% |
974,191 |
132.91 |
| JJP |
iPath Dow Jones-UBS Precious Metals Total Return ETN |
2.79% |
16,278 |
42.73 |
| PALL |
ETFS Physical Palladium |
2.66% |
162,115 |
458.51 |
Bottom 10 Weekly Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
| Ticker |
Name |
Weekly Performance |
Weekly Volume |
AUM ($, mm) |
| GDXJ |
Market Vectors Junior Gold Miners |
-11.58% |
18,749,788 |
2,786.04 |
| GLDX |
Global X Gold Explorers |
-11.30% |
479,834 |
38.21 |
| GDX |
Market Vectors Gold Miners |
-10.58% |
84,145,395 |
9,309.29 |
| URA |
Global X Uranium |
-10.53% |
1,240,539 |
114.46 |
| RING |
iShares MSCI Global Gold Miners |
-10.35% |
64,666 |
37.05 |
| GGGG |
Global X PURE Gold Miners |
-10.18% |
64,627 |
4.23 |
| PSAU |
PowerShares Global Gold and Precious Metals |
-10.14% |
70,894 |
34.35 |
| TAN |
Guggenheim Solar |
-9.97% |
174,708 |
36.78 |
| SIL |
Global X Silver Miners |
-9.95% |
2,319,718 |
368.80 |
| JUNR |
Global X Junior Miners ETF |
-9.25% |
99,742 |
2.89 |
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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