Best/Worst Weekly ETF Returns: Gold Miners Tank

By Cinthia Murphy,

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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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing ETFs
Referenced Stocks: GDX , GDXJ , PALL , PTM , USV

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