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Best/Worst Weekly ETF Returns: Gold Miners Tank

Cinthia Murphy

Gold and silver miner ETFs were some of the worst-performing funds in the week ended Thursday, Nov. 15, as the Market Vectors Junior Gold Miners ETF (GDXJ) led the pack lower, with losses of 11.6 percent.

Indeed, eight out of the 10 worst-performing ETFs in the past five-day period were gold and silver miners funds. Miner stocks have often underperformed their underlying commodities, and the past week was clear evidence of that.

Gold prices slipped to one-week lows Thursday, as investors sold the precious metal amid growing uncertainty surrounding the U.S. economy. As a Hard Asset Investors report put it, many investors seemed to be selling gold in order to cover losses elsewhere.

“This is a very highly charged emotional period in investment history,” DLS Capital Management’s Managing Partner David Steinberg said of the price action. “That’s all I can say.”

GDXJ slid 11.6 percent in five days, while the Market Vectors Gold Miners ETF (GDX) bled 10.6 percent. GDX also saw hefty volume as it moved lower—more than 16 million shares of the fund traded hands, on average, every day.

A total of five Global X-sponsored miner ETFs were also found in that mix, with the Global X Gold Explorers ETF (GLDX) earning the distinction of being the week’s second worst-performing fund, tallying losses of 11.3 percent.

In all, the poor performance by the mining-stocks-focused strategies came in as the Dow Jones industrial average gave back 269 points, or 2.1 percent in the week.

On the flip side, a plethora of commodities strategies, including the ETFS Physical Palladium ETF (PALL), the Etracs CMCI Silver Total Return ETN (USV), as well as the United States Gasoline Fund (UGA), were among the week’s best-returning funds.

The Etracs CMCI Long Platinum Total Return ETN (PTM) was the best-performing fund in the past five days. The $39 million strategy rallied 5.64 percent.

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
PTM ETRACS CMCI Long Platinum Total Return ETN 5.64% 537,396 38.96
NIB iPath Dow Jones-UBS Cocoa Total Return ETN 4.68% 93,762 33.20
CHOC iPath Pure Beta Cocoa ETN 4.50% 24,687 5.59
USV ETRACS CMCI Silver Total Return ETN 3.87% 41,578 7.31
NAGS Teucrium Natural Gas 3.37% 5,308 5.10
BAL iPath Dow Jones-UBS Cotton Total Return ETN 3.30% 161,295 32.03
UGA United States Gasoline 2.83% 146,869 64.83
EPOL iShares MSCI Poland Investable Market 2.81% 974,191 132.91
JJP iPath Dow Jones-UBS Precious Metals Total Return ETN 2.79% 16,278 42.73
PALL ETFS Physical Palladium 2.66% 162,115 458.51

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GDXJ Market Vectors Junior Gold Miners -11.58% 18,749,788 2,786.04
GLDX Global X Gold Explorers -11.30% 479,834 38.21
GDX Market Vectors Gold Miners -10.58% 84,145,395 9,309.29
URA Global X Uranium -10.53% 1,240,539 114.46
RING iShares MSCI Global Gold Miners -10.35% 64,666 37.05
GGGG Global X PURE Gold Miners -10.18% 64,627 4.23
PSAU PowerShares Global Gold and Precious Metals -10.14% 70,894 34.35
TAN Guggenheim Solar -9.97% 174,708 36.78
SIL Global X Silver Miners -9.95% 2,319,718 368.80
JUNR Global X Junior Miners ETF -9.25% 99,742 2.89

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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