U.S. Markets open in 4 hrs 7 mins

Best/Worst Daily ETF Returns: EWP Falls 4.83%

Cinthia Murphy

A group of Europe-focused ETFs ranked among the day’s worst-performing funds Thursday, July 5, with the iShares MSCI Spain Index Fund (EWP - News) leading the decline with losses of more than 4.83 percent on the heels of a round of central bank moves aimed at reducing borrowing costs.

The iShares MSCI Italy Index Fund (EWI - News) dropped 4.7 percent, while the iShares MSCI France Index Fund (EWQ - News) slid 3.1 percent in a day when the 10-worst-performing funds focused on international equities—primarily European stocks.

All at once, the European Central Bank, as well as China’s and Denmark’s central banks, slashed their official borrowing rates Thursday, the first two in hopes of spurring growth in the region, while the latter was trying to keep its economic strength from overtaking its domestic currency peg to the euro.

Also Thursday, the Bank of England earmarked fresh funds to expand its quantitative easing program as it looks to protect its local economy from negative spillover from the eurozone debt crisis.

Still, the U.S. stock market was relatively muted in its reaction to the global news, and ended up closing lower on the day on renewed worries about U.S. economic growth. The Dow Jones industrial average closed 47.15 points lower, or 0.4 percent, at 12,896.67, after having traded slightly higher at one point in the day.

On the flip side, commodities-related ETFs provided another round of solid daily returns to investors who have capitalized on what’s becoming one of the worst U.S. droughts in recent memory.

A National Weather Service assessment released late Thursday said that as much as 56 percent of the continental U.S. is facing drought conditions at a time when U.S. grain and oilseed crops are in the ground. The hot, dry weather is weighing on crop yield forecasts.

The PowerShares DB Agriculture Long ETN (AGF - News) rose 6.2 percent Thursday, while the Teucrium Wheat ETF (WEAT - News) tagged on 4.76 percent in gains.

But the top-performing fund Thursday was the Elements MLCX Biofuels Total Return ETN (FUE - News). The fund gained 7.6 percent on the day.

Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
FUE ELEMENTS MLCX Biofuels Total Return ETN 7.65% 14,618 2.46
AGF PowerShares DB Agriculture Long ETN 6.18% 9,155 12.40
JJE iPath Dow Jones-UBS Energy Total Return ETN 5.97% 1,800 11.55
EMCD SPDR BofA Merrill Lynch Emerging Markets Corporate Bond 4.94% 1,300 15.16
BLND ETRACS DJ-UBS Commodity Index 2-4-6 Blended Futures ETN 4.91% 5,320 10.00
WEAT Teucrium Wheat 4.76% 20,128 3.10
GRU ELEMENTS MLCX Grains - Total Return ETN 4.65% 140,818 16.45
UGEM EGShares Utilities GEMS 4.47% 15,975 2.66
JJG iPath Dow Jones UBS Grains Total Return ETN 4.38% 315,976 179.39
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility 4.28% 5,304 6.71

Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
EWP iShares MSCI Spain -4.83% 787,263 169.77
EWI iShares MSCI Italy -4.73% 735,884 143.62
FEZ SPDR Euro STOXX 50 -3.41% 567,461 619.99
EWQ iShares MSCI France -3.17% 1,927,398 278.21
IPU SPDR S'P International Utilities -3.09% 7,549 13.46
NORW Global X FTSE Norway -3.09% 54,051 44.15
EZU iShares MSCI EMU -3.01% 876,192 726.57
EWO iShares MSCI Austria Investable Market -2.95% 11,701 53.88
PIN PowerShares India Portfolio -2.88% 905,150 387.52
EUFN iShares MSCI-Europe Financials -2.86% 18,544 21.90


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.

Permalink | ' Copyright 2012 IndexUniverse LLC. All rights reserved