Weekly Channel Summary
The Commodities channel, encompassing 75 ETFs from 30 issuers, holds total assets of $313.28 billion. The segment experienced net outflows of $456 million for the week, contributing to year-to-date redemptions of $5.85 billion. Despite the recent negative sentiment, flows over the past year remain strongly positive, totaling over $27.08 billion.
This Week’s Performance Leaders and Laggards
Shipping Freight ETFs led performance by a wide margin, jumping 9.50% for the week and pushing their remarkable year-to-date return to over 733%. Industrial Metals also posted solid gains, rising 2.68% as the only other category to finish in the green. On the other end of the spectrum, Focused Energy funds were the worst performers, declining 4.92% over the past five days, followed by Agriculture funds which fell 3.12%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Shipping Freight | 9.50% | 50.31% | 41.87% | 353.81% | 733.72% | 1314.95% |
| Focused – Industrial Metals | 2.68% | 4.62% | 5.57% | 6.94% | 11.73% | 40.83% |
| Specialty – Carbon Credits | 0.47% | 0.86% | 9.69% | 6.49% | -2.26% | 13.37% |
| Focused – Precious Metals | -0.09% | 0.57% | -13.42% | -18.25% | -7.82% | 26.79% |
| Multi-Sector – Broad Market | -1.76% | 8.78% | -4.19% | 17.30% | 28.42% | 36.55% |
| Focused – Agriculture | -3.12% | 3.91% | -1.93% | 7.76% | 8.79% | 8.87% |
| Focused – Energy | -4.92% | 16.30% | -10.06% | 45.35% | 68.76% | 48.66% |
Top & Bottom 5 ETFs by Weekly Performance
The Breakwave Tanker Shipping ETF (BWET) was the week’s top individual performer, surging 11.76% and mirroring the strength in its category. Its peer, the Breakwave Dry Bulk Shipping ETF (BDRY), also posted a strong 6.76% gain. Conversely, the Skylar Electricity Futures ETF (MWHS) saw the steepest decline, falling 12.01% for the week, while the United States Oil Fund LP (USO) dropped 5.50%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BWET | Breakwave Tanker Shipping ETF | 11.76% |
| BDRY | Breakwave Dry Bulk Shipping ETF | 6.76% |
| PLTM | GraniteShares Platinum Trust | 3.79% |
| PPLT | abrdn Physical Platinum Shares ETF | 3.67% |
| CPER | United States Copper Index Fund | 3.16% |
| Bottom Performers | ||
| MWHS | Skylar Electricity Futures ETF | -12.01% |
| WEAT | Teucrium Wheat Fund | -5.59% |
| USO | United States Oil Fund LP | -5.50% |
| DBO | Invesco DB Oil Fund | -5.24% |
| UNG | United States Natural Gas Fund LP | -4.64% |
Analyzing the Weekly Flows
Investors pulled a net $456 million from the Commodities channel this week, with every category experiencing either flat or negative flows. The Focused – Energy category saw the largest redemptions, shedding $231 million amidst weak performance. Multi-Sector – Broad Market and Focused – Precious Metals funds also saw significant outflows, losing $90 million and $78 million, respectively.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty – Shipping Freight | 2 | $65M | $0M | $2M | -$26M | -$36M | -$60M |
| Specialty – Carbon Credits | 3 | $254M | -$1M | -$2M | -$12M | -$34M | -$47M |
| Focused – Industrial Metals | 4 | $1.13B | -$10M | -$37M | -$19M | $372M | $633M |
| Focused – Agriculture | 8 | $2.15B | -$46M | -$87M | -$100M | $1,065M | $1,067M |
| Focused – Precious Metals | 18 | $279.62B | -$78M | $448M | -$6,570M | -$12,471M | $18,854M |
| Multi-Sector – Broad Market | 28 | $26.25B | -$90M | $1,237M | $2,102M | $4,872M | $6,074M |
| Focused – Energy | 12 | $3.81B | -$231M | -$272M | $51M | $386M | $561M |
Top & Bottom 5 ETFs by 5-Day Flow
Despite net outflows from the Precious Metals category, the iShares Silver Trust (SLV) was the week’s clear inflow leader, attracting $172 million in new assets. On the other hand, the largest gold ETF, SPDR Gold Shares (GLD), experienced the heaviest redemptions, with investors withdrawing $298 million. The United States Oil Fund LP (USO) also saw substantial outflows of $184 million, aligning with the negative sentiment in the energy space.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SLV | iShares Silver Trust | $172M |
| AAAU | Goldman Sachs Physical Gold ETF | $36M |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | $26M |
| SIVR | abrdn Physical Silver Shares ETF | $22M |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | $22M |
| Outflows | ||
| GLD | SPDR Gold Shares | -$298M |
| USO | United States Oil Fund LP | -$184M |
| HGER | Harbor Commodity All-Weather Strategy ETF | -$113M |
| IAU | iShares Gold Trust | -$85M |
| BNO | United States Brent Oil Fund LP | -$52M |
Issuer League Table Update
SPDR and iShares continue to dominate the commodities landscape, commanding 51.71% and 31.41% of the channel’s assets, respectively. This week, iShares was the top asset gatherer, bringing in $116 million in net new money, largely driven by its silver ETF. In contrast, SPDR faced the largest outflows among all issuers, shedding $290 million, followed by US Commodity Funds with $233 million in redemptions.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $161.99B | 51.71% |
| iShares | 7 | $98.41B | 31.41% |
| aberdeen | 7 | $19.13B | 6.11% |
| Invesco | 9 | $10.50B | 3.35% |
| US Commodity Funds | 8 | $4.34B | 1.39% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $116M |
| Goldman Sachs | $36M |
| aberdeen | $33M |
| Outflows | |
| SPDR | -$290M |
| US Commodity Funds | -$233M |
| Harbor | -$113M |
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.
