The iShares Dow Jones U.S. Home Construction ETF (ITB - News) gave up 6.2 percent Friday on the heels of a disappointing monthly employment report that showed job growth in the U.S. in May was a far cry from what was expected.
Joblessness has been named one of the main culprits in keeping the housing market from staging a sustainable recovery. Indeed, home prices across the U.S. have yet to forge a bottom in a down cycle that started back in mid-2006. Homes across the country now cost, on average, 35 percent less than they did just six years ago.
A recovery in housing is seen as a key factor in an overall U.S. recovery from its worst recession in decades, but home buying isn’t going to improve if buyers have no jobs. The monthly jobs report showed that the U.S. economy created only 69,000 new jobs in May, the worst monthly increase in a year, and less than half of the estimated 165,000 jobs the market was expecting to see.
The SPDR S'P Homebuilders ETF (XHB - News) was another weak performer Friday, shedding 5.6 percent in value on the day, as more than 14.6 million shares traded hands.
The weakness among equities ETFs was widespread, as the Dow Jones industrial average had its weakest daily performance in seven months, tanking 274.88 points to close 2.22 percent lower at 12,118.57. Other major indicators such as the S'P 500 Index and the Nasdaq Composite Index were also sharply lower, giving up 2.5 percent and 2.8 percent, respectively, on the day.
The SPDR S'P Oil ' Gas Exploration ' Production ETF (XOP - News) and the First Trust ISE-Revere Natural Gas ETF (FCG - News) were also among the weakest performers Friday, as commodities-linked funds continued to be pressured by concerns that a weak global economy could hurt aggregate demand.
XOP dropped more than 5 percent, while FCG slid 4.9 percent on the day.
Top Performers
Five ETFs out of the top 10 best-performing funds were gold-linked ETFs.
After having shunned gold for days as the safe haven of choice for the relative security of U.S.-issued debt, investors flocked back into gold Friday as the U.S. dollar fell on concerns that the Federal Reserve could bring out more quantitative easing measures ahead.
The Market Vectors Junior Gold Miners ETF (GDXJ - News) was among the top gainers, tagging on nearly 7 percent on the day, while the iShares MSCI Global Gold Miners ETF (RING - News) climbed 6.8 percent.
Comex gold futures rallied Friday 3.7 percent on the day to $1,622.10 an ounce.
Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| VXAA | ETRACS 1-Month S'P 500 VIX Futures ETN | 9.93% | 2,600 | 5.37 |
| VIXY | ProShares VIX Short-Term | 8.48% | 1,117,930 | 178.49 |
| VIIX | VelocityShares VIX Short Term ETN | 8.48% | 522,816 | 36.70 |
| VXX | iPath S'P 500 VIX Short-Term Futures ETN | 8.45% | 76,256,424 | 1,972.01 |
| GDXJ | Market Vectors Junior Gold Miners | 6.94% | 9,790,179 | 2,100.99 |
| RING | iShares MSCI Global Gold Miners | 6.80% | 4,445 | 30.18 |
| GLDX | Global X Gold Explorers | 6.65% | 115,022 | 29.92 |
| GDX | Market Vectors Gold Miners | 6.40% | 35,432,860 | 8,204.69 |
| GGGG | Global X PURE Gold Miners | 6.04% | 45,279 | 4.23 |
| VIXM | ProShares VIX Mid-term | 5.41% | 271,797 | 114.68 |
Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| CVOL | C-Tracks Exchange-Traded Notes on the Citi Volatility | -8.05% | 51,333 | 12.01 |
| ITB | iShares Dow Jones U.S. Home Construction | -6.22% | 3,914,937 | 637.33 |
| XHB | SPDR S'P Homebuilders | -5.65% | 14,656,391 | 1,325.19 |
| GREK | Global X FTSE Greece 20 | -5.23% | 39,065 | 3.18 |
| PSCE | PowerShares S'P SmallCap Energy | -5.18% | 17,014 | 48.94 |
| XOP | SPDR S'P Oil ' Gas Exploration ' Production | -5.13% | 6,956,661 | 803.08 |
| SOCL | Global X Social Media | -4.94% | 56,309 | 18.11 |
| KBE | SPDR S'P Bank | -4.93% | 3,993,897 | 1,346.76 |
| FCG | First Trust ISE-Revere Natural Gas | -4.90% | 968,137 | 346.78 |
| KBWB | PowerShares KBW Bank Portfolio | -4.84% | 10,315 | 18.22 |
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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