Weekly Channel Summary
The Commodity ETF channel, comprising 71 ETFs from 28 issuers, holds $300B in Assets Under Management. The channel saw net outflows of $378M over the past week, though it remains strongly positive with $46.78B in year-to-date inflows.
This Week’s Performance Leaders and Laggards
Energy was the top-performing category, returning 4.41% for the week. Industrial Metals also showed strength with a 3.13% return. Precious Metals was the worst-performing category, down -3.74% for the week.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Energy | 4.41% | -3.35% | -2.40% | 3.41% | -5.38% | -0.63% |
| Industrial Metals | 3.13% | 7.15% | 3.43% | 13.85% | 22.73% | 15.17% |
| Multi-Sector | 1.82% | 2.25% | 4.48% | 8.65% | 13.05% | 13.72% |
| Shipping Freight | 0.51% | 4.25% | 33.26% | 43.03% | 53.02% | 9.93% |
| Agriculture | 0.19% | -1.64% | -3.13% | -7.14% | -5.99% | -5.69% |
| Carbon Credits | -1.50% | 2.81% | 11.61% | 21.80% | 9.20% | 7.08% |
| Precious Metals | -3.74% | 9.80% | 19.70% | 32.19% | 57.74% | 45.19% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s top performer was the United States Natural Gas Fund LP (UNG), which gained 8.08%. The largest laggards were silver ETFs, with both the abrdn Physical Silver Shares ETF (SIVR) and the iShares Silver Trust (SLV) falling -11.27%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| UNG | United States Natural Gas Fund LP | 8.08% |
| USO | United States Oil Fund LP | 7.67% |
| DBO | Invesco DB Oil Fund | 7.67% |
| BNO | United States Brent Oil Fund LP | 6.84% |
| DBE | Invesco DB Energy Fund | 6.03% |
| Bottom Performers | ||
| SIVR | abrdn Physical Silver Shares ETF | -11.27% |
| SLV | iShares Silver Trust | -11.27% |
| PALL | abrdn Physical Palladium Shares ETF | -6.44% |
| USE | USCF Energy Commodity Strategy Absolute Return Fund | -5.67% |
| GLTR | abrdn Physical Precious Metals Basket Shares ETF | -5.48% |
Analyzing the Weekly Flows
The channel experienced net outflows of $378M last week. Industrial Metals led category inflows, adding $14M. Precious Metals saw the most significant outflows, shedding $353M, followed by Energy with $43M in outflows.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Industrial Metals | 4 | $0.48B | $14M | $77M | $108M | $146M | $116M |
| Multi-Sector | 25 | $16.55B | $7M | $282M | $450M | $2,122M | $1,837M |
| Shipping Freight | 2 | $0.04B | $0M | ($5M) | ($15M) | ($16M) | $0M |
| Agriculture | 8 | $1.07B | ($1M) | ($31M) | $16M | $31M | $45M |
| Carbon Credits | 4 | $0.31B | ($1M) | ($15M) | ($6M) | ($34M) | ($168M) |
| Energy | 11 | $2.09B | ($43M) | $35M | $62M | ($332M) | ($1,035M) |
| Precious Metals | 17 | $279.81B | ($353M) | $10,073M | $22,235M | $44,866M | $43,732M |
Top & Bottom 5 ETFs by 5-Day Flow
The SPDR Gold Minishares Trust (GLDM) led all ETFs, attracting $70M in new assets. The iShares Gold Trust (IAU) saw the largest redemption, with $378M in outflows, followed by the iShares Silver Trust (SLV) which lost $83M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| GLDM | SPDR Gold Minishares Trust of beneficial interest | $70M |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | $68M |
| HGER | Harbor All-Weather Inflation Focus ETF | $38M |
| BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | $32M |
| BAR | GraniteShares Gold Shares | $25M |
| Outflows | ||
| IAU | iShares Gold Trust | ($378M) |
| SLV | iShares Silver Trust | ($83M) |
| PPLT | abrdn Physical Platinum Shares ETF | ($64M) |
| USO | United States Oil Fund LP | ($38M) |
| DBC | Invesco DB Commodity Index Tracking Fund | ($30M) |
Issuer League Table Update
SPDR and iShares continue to dominate the channel, holding 54.55% and 32.11% of the market share, respectively. SPDR led weekly inflows among all issuers, gathering $55M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $163.85B | 54.55% |
| iShares | 7 | $96.45B | 32.11% |
| aberdeen | 8 | $17.41B | 5.80% |
| Invesco | 9 | $7.11B | 2.37% |
| VanEck | 3 | $2.40B | 0.80% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| SPDR | $55M |
| Harbor | $38M |
| GraniteShares | $24M |
| Outflows | |
| iShares | ($392M) |
| US Commodity Funds | ($39M) |
| Invesco | ($34M) |
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. This material does not constitute a recommendation to buy or sell a particular security or product. Such information should not be relied upon for investment decisions. This material is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
This analysis was developed by the team at ETF Action, a data analytics and technology platform for financial professionals. ETF Action is not a registered investment advisor and does not provide investment advice. This report is not an offer to buy or sell, or a solicitation of an offer to buy or sell any securities.
