Best/Worst Weekly ETF Returns: India Funds Slump

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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

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


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

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