Credit: Shutterstock photoIndia-focused exchange-traded products fell in the week ending Thursday, May 23, underperforming most other ETFs , with losses upward of 6 percent after the Fed's May 22 meeting, where it discussed possible cutbacks in "quantitative easing," curbing investors' appetite for risk assets such as Indian equities.
Over the five-day period, the S&P 500 slid 16.96 points, or 1.02 percent, closing at 1,650.51 yesterday.
The Market Vectors India Small-Cap fund (NYSEArca:SCIF) sliced off 8.10 percent on speculation that the Fed may cut back its buying of Treasurys and mortgage-backed securities. Three other India ETFs suffered similar losses.
Other single-country funds were affected by the Fed statement following its May 22 meeting, including the Global X FTSE Greece 20 fund (NYSEArca:GREK) sinking 8.62 percent and the iShares MSCI Australia fund (NYSEArca:EWAS) dropping 5.01 percent.
Some of the best-performing ETPs were focused on natural gas, with the iPath Dow Jones-UBS Natural Gas Total Return ETN (NYSEArca:GAZ) jumping 9.27 percent, while four other natgas ETPs also landed on the best-performers' list.
Solar funds additionally made a splash, with the Guggenheim Solar fund (NYSEArca:TAN) rising 8.33 percent and the Market Vectors Solar Energy ETF (NYSEArca:KWT) gaining 4.22 percent.
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and 'lt;1,000 Shares Traded
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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