Silver ETFs Shined Bright In 3Q 2012
Silver-linked ETFs were some of the best-performing exchange-traded products in the third quarter ended Sept. 30, taking six out of the 10 top-performing spots, as investors positioned themselves to take advantage of the government's latest round of quantitative easing.
The Global X Silver Miners ETF (SIL) and the iShares MSCI Global Silver Miners Index Fund (SLVP) topped the list, each rallying 33 percent in the past three months. The physical silver ETF, ETFS Physical Silver ETF (SIVR), gained 25.5 percent in the same period.
In the past quarter, silver prices rallied 25 percent in a move that can largely be attributed to the Federal Reserve's announcement of so-called QE3, HardAssetsInvestor.com Analyst Sumit Roy told IndexUniverse.
"The fear is that QE3 may lead to inflation down the line and silver—along with gold—is seen as a hedge against that possibility," Roy said. "There were strong inflows into silver ETFs; silver ETF holdings stand at a record 600 million troy ounces, surpassing the high set last spring."
Quantitative easing also helped calm the market's nerves, putting a lot of volatility-focused strategies among the bottom performers for the quarter.
The Dow Jones industrial average tagged on 557 points between June 29 and September 28, rising 4.3 percent.
The C-Tracks ETNs on the Citi Volatility (CVOL) slipped 56.5 percent, followed by the iPath S'P 500 VIX Short-Term Futures ETN (VXX), which lost 40.8 percent in value.
Best Performers
Ticker | Name | Issuer | Q3 2012 Flows | Q3 2012 AUM ($, M) | Q3 2012 TRR |
SIL | Global X Silver Miners | Global X | 0.75 | 376.17 | 33.80 |
SLVP | iShares MSCI Global Silver Miners | BlackRock | - | 2.41 | 33.09 |
JUNR | Global X Junior Miners ETF | Global X | 0.57 | 2.76 | 31.46 |
GDXJ | Market Vectors Junior Gold Miners | Van Eck | 391.09 | 3,177.79 | 28.68 |
USV | ETRACS CMCI Silver Total Return ETN | UBS | - | 7.53 | 28.57 |
DBS | PowerShares DB Silver | Invesco PowerShares | -10.21 | 71.66 | 25.89 |
SLV | iShares Silver Trust | BlackRock | 282.43 | 11,068.45 | 25.63 |
SIVR | ETFS Physical Silver | ETF Securities | 29.91 | 641.79 | 25.55 |
UGA | United States Gasoline | US Commodity Funds | -31.79 | 66.80 | 24.91 |
EGPT | Market Vectors Egypt | Van Eck | 4.25 | 57.53 | 24.03 |
Worst Performers
Ticker | Name | Issuer | Q3 2012 Flows | Q3 2012 AUM ($, M) | Q3 2012 TRR |
CVOL | C-Tracks Exchange-Traded Notes on the Citi Volatility | CitiGroup | 2.59 | 5.34 | -56.65 |
VXX | iPath S'P 500 VIX Short-Term Futures ETN | Barclays Capital | 928.03 | 1,682.25 | -40.83 |
VIIX | VelocityShares VIX Short Term ETN | VelocityShares | -36.39 | 16.38 | -40.79 |
VIXY | ProShares VIX Short-Term | ProShares | 105.24 | 165.80 | -40.53 |
VIIZ | VelocityShares VIX Mid Term ETN | VelocityShares | - | 5.86 | -27.72 |
VXZ | iPath S'P 500 VIX Mid-Term Futures ETN | Barclays Capital | -65.00 | 129.12 | -24.38 |
VIXM | ProShares VIX Mid-term | ProShares | 36.93 | 94.43 | -24.36 |
VNM | Market Vectors Vietnam | Van Eck | -12.98 | 257.82 | -12.63 |
GRN | iPath Global Carbon ETN | Barclays Capital | -0.13 | 1.26 | - 9.76 |
TAN | Guggenheim Solar | Guggenheim | 0.16 | 45.72 | - 8.62 |
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