Best/Worst Weekly ETF Returns: India Funds Slump
India-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
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
|---|---|---|---|---|
| GAZ | iPath Dow Jones-UBS Natural Gas Total Return ETN | 9.27% | 308,664 | 44.58 |
| TAN | Guggenheim Solar | 8.33% | 2,670,010 | 107.47 |
| UNG | United States Natural Gas | 7.70% | 29,409,720 | 927.70 |
| UNL | United States 12 Month Natural Gas | 6.27% | 393,397 | 33.28 |
| DCNG | iPath Pure Beta Seasonal Natural Gas ETN | 5.80% | 82,035 | 62.07 |
| LD | iPath Dow Jones-UBS Lead Total Return ETN | 4.87% | 1,477 | 2.90 |
| CPER | United States Copper | 4.81% | 1,600 | 2.28 |
| CVOL | C-Tracks Citi Volatility ETN | 4.71% | 38,227 | 1.73 |
| KWT | Market Vectors Solar Energy | 4.22% | 44,712 | 14.88 |
| NAGS | Teucrium Natural Gas | 3.95% | 2,158 | 3.94 |
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
|---|---|---|---|---|
| GRN | iPath Global Carbon ETN | -8.88% | 13,228 | 0.57 |
| GREK | Global X FTSE Greece 20 | -8.62% | 1,654,161 | 53.65 |
| SCIF | Market Vectors India Small-Cap | -8.10% | 1,398,524 | 132.29 |
| SCIN | EGShares India Small Cap | -7.99% | 59,161 | 21.61 |
| INXX | EGShares India Infrastructure | -7.17% | 76,312 | 67.72 |
| JO | iPath Dow Jones-UBS Coffee Total Return ETN | -6.76% | 1,282,494 | 98.03 |
| CAFE | iPath Pure Beta Coffee ETN | -6.62% | 21,307 | 4.07 |
| SMIN | iShares MSCI India Small Cap | -6.12% | 3,534 | 3.34 |
| BAL | iPath Dow Jones-UBS Cotton Total Return ETN | -5.56% | 153,605 | 35.49 |
| EWAS | iShares MSCI Australia Small Cap | -5.01% | 6,118 | 1.09 |
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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