Precious metal ETFs were caught in a selloff Thursday, as the dollar rallied on news that Spain may need as much as 62 billion euros—or $78 billion—to bail out its troubled banks. The news came on a gloomy day when Moody’s downgraded a number of banks around the world,
The Market Vectors Junior Gold Miners ETF (GDXJ - News) was yesterday’s worst-performing fund, dropping 7.73 percent on Thursday. The Global X Silver Miners (SIL - News) was not far behind, falling 6.74 percent yesterday.
A number of oil funds made the list as the price of oil continues its downward trend—below $80 a barrel was the latest threshold it crashed through.
For example, the iPath Pure Beta Crude Oil ETN (OLEM - News) led the group, shedding 6.37 percent.
The Dow Jones industrial average saw its steepest decline in a week amid the thickening gloom, losing 250.82 points, or 2 percent, and closing at 12,573.57 on Thursday.
Best Performers
Some of yesterday’s best-performing funds were coffee-related as the iPath Pure Beta Coffee ETN (CAFE - News) returned 4.08 percent, while the iPath Dow Jones-UBS Coffee Return ETN (JO - News) gained 3.64 percent.
The iPath Dow Jones-UBS Natural Gas Total Return ETN (GAZ - News) and United States Natural Gas (UNG - News) made slight recovery yesterday, gaining 3.76 percent and 2.29 percent, respectively, after making IndexUniverse’s “Worst Performers” two days prior.
Whether its best or worst, a major part of the performers list is filled by volatility-related ETPs, and Thursday was no exception, with volatility-link ETNs holding a majority of the “Top-Performers” list—a function of the stock market’s sharp selloff.
Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| VIIX | VelocityShares VIX Short Term ETN | 11.39% | 599,578 | 82.28 |
| VIXY | ProShares VIX Short-Term | 11.36% | 1,405,673 | 149.89 |
| VXX | iPath S'P 500 VIX Short-Term Futures ETN | 11.11% | 66,491,008 | 1,810.89 |
| CVOL | C-Tracks Exchange-Traded Notes on the Citi Volatility | 10.73% | 48,213 | 9.14 |
| VXZ | iPath S'P 500 VIX Mid-Term Futures ETN | 5.41% | 349,529 | 259.85 |
| VIXM | ProShares VIX Mid-term | 5.28% | 27,758 | 91.20 |
| CAFE | iPath Pure Beta Coffee ETN | 4.08% | 2,200 | 1.47 |
| GAZ | iPath Dow Jones-UBS Natural Gas Total Return ETN | 3.76% | 204,649 | 35.01 |
| JO | iPath Dow Jones-UBS Coffee Total Return ETN | 3.64% | 22,786 | 24.63 |
| UNG | United States Natural Gas | 2.29% | 20,694,361 | 994.82 |
Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| GDXJ | Market Vectors Junior Gold Miners | -7.73% | 6,953,385 | 2,169.59 |
| SIL | Global X Silver Miners | -6.74% | 305,738 | 287.95 |
| BAL | iPath Dow Jones-UBS Cotton Total Return ETN | -6.56% | 15,550 | 28.99 |
| OLEM | iPath Pure Beta Crude Oil ETN | -6.37% | 3,685 | 17.02 |
| GLDX | Global X Gold Explorers | -6.03% | 36,668 | 28.93 |
| XES | SPDR S'P Oil ' Gas Equipment ' Services | -5.98% | 179,444 | 233.85 |
| GGGG | Global X PURE Gold Miners | -5.96% | 3,636 | 4.26 |
| PSAU | PowerShares Global Gold and Precious Metals Portfolio | -5.58% | 2,450 | 32.89 |
| CU | First Trust ISE Global Copper | -5.53% | 11,555 | 41.71 |
| PXJ | PowerShares Dynamic Oil ' Gas Services Portfolio | -5.44% | 140,055 | 119.07 |
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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