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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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