Weekly Channel Summary
The Commodities channel ended the week with $331.80B in total AUM spread across 77 ETFs from 32 issuers. Net flows were slightly negative over the trailing 5-day period at -$82M, though the channel remains firmly positive over longer horizons with $8,627M gathered year-to-date and $23,924M over the past year. The contrast between a modest weekly pullback and robust longer-term accumulation suggests short-term rebalancing rather than a shift in investor conviction toward commodities exposure.
This Week’s Performance Leaders and Laggards
Specialty – Shipping Freight led all categories on the week with a 12.78% WTD gain, extending an extraordinary run that has pushed its YTD return to 4605.64%. Specialty – Carbon Credits and Focused – Industrial Metals also posted solid weekly gains of 1.90% and 1.67%, respectively, while Focused – Agriculture lagged with a modest 0.12% WTD advance, the weakest showing among categories tracked this week. Within individual funds, BWET topped the leaderboard with a 14.35% weekly gain, reinforcing the shipping freight theme, while UCIB was the week’s weakest performer at -13.16%. Broad-based commodity exposure via Multi-Sector – Broad Market continued its strong YTD trajectory of 42.45%, underscoring diversified strength beneath the single-category outlier.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Shipping Freight | 12.78% | 63.07% | 363.28% | 444.43% | 4605.64% | 5855.75% |
| Specialty – Carbon Credits | 1.90% | -1.43% | 0.92% | 13.59% | -1.43% | 1.23% |
| Focused – Industrial Metals | 1.67% | -2.70% | 5.33% | 10.93% | 13.22% | 25.31% |
| Focused – Energy | 1.38% | 3.02% | 33.68% | 20.17% | 97.12% | 88.57% |
| Multi-Sector – Broad Market | 1.30% | -0.18% | 16.32% | 13.25% | 42.45% | 46.36% |
| Focused – Precious Metals | 1.02% | -5.31% | 1.65% | -13.14% | -4.48% | 7.25% |
| Focused – Agriculture | 0.12% | -2.96% | 3.80% | 6.89% | 12.85% | 12.19% |
Top & Bottom 5 ETFs by Weekly Performance
BWET stood out as the top performer with a 14.35% weekly gain, well ahead of CCOM at 5.19% and UNG at 5.16%. On the downside, UCIB declined 13.16%, the steepest drop in the channel, followed by ZSC at -2.85%. The spread between top and bottom performers remains wide, reflecting the idiosyncratic nature of niche commodity exposures like shipping freight versus broader diversified strategies. Precious metals funds, despite their scale, posted comparatively muted weekly moves, with the category’s 1.02% WTD gain masking a soft -4.48% YTD return.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BWET | Breakwave Tanker Shipping ETF | 14.35% |
| CCOM | Simplify Chinese Commodities Strategy No K-1 ETF | 5.19% |
| UNG | United States Natural Gas Fund LP | 5.16% |
| MWHS | Skylar Electricity Futures ETF | 4.97% |
| UNL | United States 12 Month Natural Gas Fund LP | 2.96% |
| Bottom Performers | ||
| UCIB | ETRACS CMCI Total Return ETN Series B | -13.16% |
| ZSC | USCF Sustainable Commodity Strategy Fund | -2.85% |
| CORN | Teucrium Corn Fund | -2.28% |
| PALL | abrdn Physical Palladium Shares ETF | -2.26% |
| BDRY | Breakwave Dry Bulk Shipping ETF | -2.18% |
Analyzing the Weekly Flows
The Commodities channel saw a net outflow of $82M over the trailing 5-day period, a modest pullback relative to the channel’s scale. Focused – Energy led inflows with $143M for the week, followed by Specialty – Shipping Freight at $49M, both showing resilience despite Focused – Energy’s deeply negative 90-day and 30-day flow trends. On the outflow side, Focused – Precious Metals shed $212M over the week, the largest category outflow despite having accumulated $14,458M over the trailing year, suggesting some short-term profit-taking after a strong run. Multi-Sector – Broad Market also saw a modest $61M outflow for the week, a pause within an otherwise strong YTD accumulation of $7,294M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Focused – Energy | 12 | $3.90B | $143M | -$423M | -$1,089M | -$179M | -$146M |
| Specialty – Shipping Freight | 2 | $326M | $49M | $16M | $77M | $37M | $25M |
| Focused – Agriculture | 8 | $2.39B | $8M | -$19M | $112M | $1,226M | $1,191M |
| Specialty – Carbon Credits | 3 | $261M | $0M | $7M | $0M | -$32M | -$41M |
| Focused – Industrial Metals | 4 | $1.08B | -$9M | -$34M | -$93M | $316M | $490M |
| Multi-Sector – Broad Market | 30 | $31.55B | -$61M | $595M | $3,961M | $7,294M | $7,947M |
| Focused – Precious Metals | 18 | $292.30B | -$212M | $1,878M | $13,267M | -$33M | $14,458M |
Top & Bottom 5 ETFs by 5-Day Flow
GLDM led all funds with $150M in weekly inflows, followed by USO at $115M, both pointing to continued investor interest in energy and gold exposure despite category-level softness. On the outflow side, GLD saw the largest redemption at -$331M, followed by SIVR at -$101M. The divergence between GLDM’s inflows and GLD’s outflows highlights a rotation within gold exposure products rather than a broad retreat from the metal itself.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| GLDM | SPDR Gold Minishares Trust of beneficial interest | $150M |
| USO | United States Oil Fund LP | $115M |
| BWET | Breakwave Tanker Shipping ETF | $53M |
| BNO | United States Brent Oil Fund LP | $43M |
| IAU | iShares Gold Trust | $42M |
| Outflows | ||
| GLD | SPDR Gold Shares | -$331M |
| SIVR | abrdn Physical Silver Shares ETF | -$101M |
| PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | -$33M |
| DBC | Invesco DB Commodity Index Tracking Fund | -$29M |
| UGA | United States Gasoline Fund LP | -$22M |
Issuer League Table Update
SPDR and iShares remain the dominant players in the Commodities channel by assets, commanding 51.64% and 30.63% market share, respectively, with combined AUM exceeding $273B. On weekly flows, US Commodity Funds led all issuers with $148M in inflows, followed by iShares at $75M and Amplify at $49M. SPDR experienced the largest weekly outflow among issuers at -$192M, driven largely by redemptions from GLD, while aberdeen followed with -$139M in outflows. The flow divergence between SPDR’s gold products illustrates how even top issuers can see mixed fund-level demand within a single week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $171.34B | 51.64% |
| iShares | 7 | $101.64B | 30.63% |
| aberdeen | 7 | $20.11B | 6.06% |
| Invesco | 9 | $12.59B | 3.79% |
| Harbor | 2 | $4.85B | 1.46% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| US Commodity Funds | $148M |
| iShares | $75M |
| Amplify | $49M |
| Outflows | |
| SPDR | -$192M |
| aberdeen | -$139M |
| Invesco | -$54M |
For a deeper dive into these trends, access our FREE, in-depth Commodity ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
