Best/Worst Daily ETF Returns: China Funds Fall
Markets in China fell to two-month lows on Tuesday, March 12, following a ban on real estate price gouging in the country's southern city of Shenzhen.
China-based exchange-traded funds suffered collateral losses yesterday, led by the Global X China Industrials ETF (NYSEArca:CHII) bleeding 2.11 percent of its returns. Six other China-based funds followed CHII on the worst performers' list.
The city of Shenzhen's decision to curb property prices came after announcements last week that, in an effort to cool the country's real estate market and hedge against a real estate bubble, homeowners would face a higher income tax on property, and the minimum down payment required for new home purchases would rise as well.
Limiting developers' ability to raise real estate prices cuts back on what were previously exorbitant profits to be gained from real estate sales. Tightened restrictions like those in Shenzhen will at least serve to ease the onset of a property bubble at a time when China's fragile, recovering economy could be made or broken by a boom-and-burst in the real estate sector.
Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and 'lt;1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
|---|---|---|---|---|
| GLDX | Global X Gold Explorers | 4.28% | 217,891 | 37.31 |
| GDXJ | Market Vectors Junior Gold Miners | 2.79% | 4,683,083 | 2,291.08 |
| GDX | Market Vectors Gold Miners | 2.50% | 21,817,577 | 7,530.54 |
| VIXY | ProShares VIX Short-Term | 2.32% | 2,764,257 | 173.18 |
| VIIX | VelocityShares VIX Short Term ETN | 2.30% | 760,076 | 16.98 |
| VXX | iPath S&P 500 VIX Short-Term Futures ETN | 2.30% | 62,784,813 | 1,179.55 |
| SLVP | iShares MSCI Global Silver Miners | 2.25% | 3,250 | 1.82 |
| SILJ | PureFunds ISE Junior Silver (Small Cap Miners/Explorers) | 1.97% | 4,011 | 2.64 |
| SIL | Global X Silver Miners | 1.86% | 182,146 | 283.80 |
| RING | iShares MSCI Global Gold Miners | 1.71% | 4,262 | 27.25 |
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
|---|---|---|---|---|
| GRN | iPath Global Carbon ETN | -6.53% | 1,300 | 0.54 |
| CHII | Global X China Industrials | -2.11% | 15,420 | 4.82 |
| CHXX | EGShares China Infrastructure | -1.95% | 6,569 | 13.58 |
| CQQQ | Guggenheim China Technology | -1.84% | 5,560 | 19.83 |
| ECNS | iShares MSCI China Small Cap | -1.67% | 21,548 | 34.01 |
| FCA | First Trust China AlphaDex | -1.66% | 11,462 | 8.35 |
| PEK | Market Vectors China | -1.53% | 70,423 | 40.04 |
| HAO | Guggenheim China Small Cap | -1.52% | 236,737 | 343.49 |
| ITB | iShares Dow Jones U.S. Home Construction | -1.51% | 3,628,647 | 2,237.13 |
| FNI | First Trust ISE Chindia | -1.31% | 11,719 | 65.27 |
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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