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Best/Worst Weekly ETF Returns: Gold Miners Fall

Cinthia Murphy

A roster of gold miner ETFs led the list of the worst-performing funds for the week ended Thursday, Dec. 6, amid a decline in gold prices that’s been linked to the prospect of further strengthening of the dollar.

Indeed, gold prices have given up ground in recent weeks as investors grapple with a dampening price outlook in the face of mounting uncertainties surrounding the U.S. “fiscal cliff.” Concern about the fate of the U.S. budget talks has many betting on the safety of the dollar instead. Because gold is priced in dollars, a rising dollar often translates into higher lower gold prices.

Speculation that today’s strong jobs numbers could also limit the Federal Reserve’s appetite to provide more monetary stimulus was another factor weighing on gold prices, HardAssetsInvestor.com analyst Sumit Roy said in his market commentary Friday.

While gold miner ETFs are equities funds, the weakness in the underlying commodity certainly weighs on them.

The iShares MSCI Global Gold Miners (RING) was the single worst-performing ETF, with a 5.3 percent decline, followed by the Market Vectors Gold Miners ETF (GDX) and the Global X Pure Gold Miners ETF (GGGG). The latter two also both declined more than 5 percent.

The losses came as the Dow Jones industrial average gained 52 points, or 0.4 percent, in the same five-day period ended Thursday.

The Global X Gold Explorers (NYSE Arca:GLDX) and the Market Vectors Junior Gold Miners ETF (GDXJ) were also among the bottom 10 weekly performers, according to data compiled by IndexUniverse.

On the flip side, several India-focused funds were among the best-performing strategies in the past week.

The $25 million EGShares India Small Cap ETF (SCIN) and the $60 million EGShares India Infrastructure ETF (INXX) each rallied more than 5 percent in the week.


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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
DRGS RBS Global Big Pharma ETN 7.25% 3,264 4.80
VIXY ProShares VIX Short-Term 6.10% 3,180,438 151.10
VIIX VelocityShares VIX Short Term ETN 6.05% 1,046,928 14.90
VXX iPath S'P 500 VIX Short-Term Futures ETN 6.05% 130,866,889 1,228.57
SCIN EGShares India Small Cap 5.88% 39,700 25.84
SCIF Market Vectors India Small-Cap 5.79% 947,866 83.79
INXX EGShares India Infrastructure 5.76% 22,576 59.88
CHXX EGShares China Infrastructure 5.68% 14,261 12.23
SMIN iShares MSCI India Small Cap 5.10% 9,418 5.27
GREK Global X FTSE Greece 20 4.65% 123,425 20.28

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
RING iShares MSCI Global Gold Miners -5.30% 64,847 36.35
GDX Market Vectors Gold Miners -5.23% 67,398,965 9,093.78
GGGG Global X PURE Gold Miners -5.16% 7,700 4.12
UGA United States Gasoline -5.02% 91,545 63.05
GLDX Global X Gold Explorers -4.61% 282,381 39.11
GDXJ Market Vectors Junior Gold Miners -4.44% 11,410,863 2,726.40
PSAU PowerShares Global Gold and Precious Metals -4.16% 18,583 36.00
PGJ PowerShares Golden Dragon China -4.09% 226,635 181.94
GRN iPath Global Carbon ETN -3.93% 22,807 1.06
DBS PowerShares DB Silver -3.87% 181,040 68.41

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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