Silver ETFs Shined Bright In 3Q 2012

By Cinthia Murphy,

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Silver-linked ETFs were some of the best-performing exchange-traded products in the third quarter ended Sept. 30, taking six out of the 10 top-performing spots, as investors positioned themselves to take advantage of the government's latest round of quantitative easing.

The Global X Silver Miners ETF (NYSEArca:SIL) and the iShares MSCI Global Silver Miners Index Fund (NYSEArca:SLVP) topped the list, each rallying 33 percent in the past three months. The physical silver ETF, ETFS Physical Silver ETF (NYSEArca:SIVR), gained 25.5 percent in the same period.

In the past quarter, silver prices rallied 25 percent in a move that can largely be attributed to the Federal Reserve's announcement of so-called QE3, Analyst Sumit Roy told IndexUniverse.

'The fear is that QE3 may lead to inflation down the line and silver-along with gold-is seen as a hedge against that possibility,' Roy said. 'There were strong inflows into silver ETFs; silver ETF holdings stand at a record 600 million troy ounces, surpassing the high set last spring.'

Quantitative easing also helped calm the market's nerves, putting a lot of volatility-focused strategies among the bottom performers for the quarter.

The Dow Jones industrial average tagged on 557 points between June 29 and September 28, rising 4.3 percent.

The C-Tracks ETNs on the Citi Volatility (NYSEArca:CVOL) slipped 56.5 percent, followed by the iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca:VXX), which lost 40.8 percent in value.

Best Performers

Ticker Name Issuer Q3 2012 Flows Q3 2012 AUM ($, M) Q3 2012 TRR
SIL Global X Silver Miners Global X 0.75 376.17 33.80
SLVP iShares MSCI Global Silver Miners BlackRock - 2.41 33.09
JUNR Global X Junior Miners ETF Global X 0.57 2.76 31.46
GDXJ Market Vectors Junior Gold Miners Van Eck 391.09 3,177.79 28.68
USV ETRACS CMCI Silver Total Return ETN UBS - 7.53 28.57
DBS PowerShares DB Silver Invesco PowerShares -10.21 71.66 25.89
SLV iShares Silver Trust BlackRock 282.43 11,068.45 25.63
SIVR ETFS Physical Silver ETF Securities 29.91 641.79 25.55
UGA United States Gasoline US Commodity Funds -31.79 66.80 24.91
EGPT Market Vectors Egypt Van Eck 4.25 57.53 24.03

Worst Performers

Ticker Name Issuer Q3 2012 Flows Q3 2012 AUM ($, M) Q3 2012 TRR
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility CitiGroup 2.59 5.34 -56.65
VXX iPath S&P 500 VIX Short-Term Futures ETN Barclays Capital 928.03 1,682.25 -40.83
VIIX VelocityShares VIX Short Term ETN VelocityShares -36.39 16.38 -40.79
VIXY ProShares VIX Short-Term ProShares 105.24 165.80 -40.53
VIIZ VelocityShares VIX Mid Term ETN VelocityShares - 5.86 -27.72
VXZ iPath S&P 500 VIX Mid-Term Futures ETN Barclays Capital -65.00 129.12 -24.38
VIXM ProShares VIX Mid-term ProShares 36.93 94.43 -24.36
VNM Market Vectors Vietnam Van Eck -12.98 257.82 -12.63
GRN iPath Global Carbon ETN Barclays Capital -0.13 1.26 - 9.76
TAN Guggenheim Solar Guggenheim 0.16 45.72 - 8.62

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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: CVOL , SIL , SIVR , SLVP , VXX

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