Weekly Channel Summary
As of May 22, 2026, the Commodity ETF channel holds a total of $355 billion in Assets Under Management (AUM) across 71 ETFs, managed by 28 different issuers. For the week, the channel experienced net outflows totaling -$316M. Despite the recent weekly outflows, Year-To-Date (YTD) flows for the channel remain positive at +$397M.
This Week’s Performance Leaders and Laggards
Carbon Credits and Industrial Metals led category performance this week, posting returns of 1.92% and 1.25%, respectively. Conversely, the Energy category was the primary laggard, declining -3.24% for the week.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Carbon Credits | 1.92% | 4.40% | 4.16% | -3.38% | -8.86% | 10.96% |
| Industrial Metals | 1.25% | 1.96% | 8.15% | 27.86% | 12.94% | 45.02% |
| Agriculture | 0.41% | 3.71% | 7.09% | 9.05% | 9.90% | 1.91% |
| Multi-Sector | -1.38% | 2.64% | 17.16% | 31.55% | 28.05% | 41.35% |
| Precious Metals | -1.38% | -5.36% | -10.51% | 18.57% | 2.29% | 56.07% |
| Shipping Freight | -1.53% | 25.86% | 138.65% | 359.80% | 442.52% | 812.31% |
| Energy | -3.24% | 4.58% | 38.13% | 51.49% | 54.63% | 54.21% |
Top & Bottom 5 ETFs by Weekly Performance
The best-performing individual product this week was the KCCA (KraneShares California Carbon Allowance Strategy ETF) returning 3.20%. The steepest weekly declines were seen in energy products, specifically UGA and BNO, which fell -5.72% and -4.38% respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| KCCA | KraneShares California Carbon Allowance Strategy ETF | 3.20% |
| DBB | Invesco DB Base Metals Fund | 1.77% |
| WEAT | Teucrium Wheat Fund | 1.57% |
| CTWO | COtwo Advisors Physical European Carbon Allowance Trust ETF of Beneficial Interest | 1.55% |
| CPER | United States Copper Index Fund | 1.37% |
| Bottom Performers | ||
| UGA | United States Gasoline Fund LP | -5.72% |
| BNO | United States Brent Oil Fund LP | -4.38% |
| USO | United States Oil Fund LP | -4.32% |
| HARD | Simplify Commodities Strategy No K-1 ETF | -3.83% |
| SIVR | abrdn Physical Silver Shares ETF | -3.69% |
Analyzing the Weekly Flows
The Commodity ETF channel saw total net outflows of -$316M over the past 5 days. Multi-Sector Broad Market ETFs collected the most capital, taking in $390M. This was offset by significant outflows from the Precious Metals category, which shed -$780M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Multi-Sector | 27 | $25.97B | $390M | $1,037M | $2,244M | $3,691M | $5,681M |
| Agriculture | 8 | $2.77B | $129M | $669M | $1,643M | $1,652M | $1,579M |
| Industrial Metals | 4 | $1.21B | $15M | $97M | -$47M | $453M | $748M |
| Shipping Freight | 2 | $0.09B | $3M | $10M | -$7M | -$3M | -$61M |
| Carbon Credits | 3 | $0.25B | -$2M | $1M | -$6M | -$21M | -$24M |
| Energy | 11 | $4.11B | -$72M | -$269M | $304M | $304M | $644M |
| Precious Metals | 16 | $320.34B | -$780M | -$1,880M | -$10,046M | -$5,679M | $34,499M |
Top & Bottom 5 ETFs by 5-Day Flow
The PDBA ETF led all products in new assets, taking in $110M. Conversely, the largest redemptions occurred in GLD and IAU, which lost -$376M and -$372M respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| PDBA | Invesco Agriculture Commodity Strategy No K-1 ETF | $110M |
| GLDM | SPDR Gold Minishares Trust of beneficial interest | $98M |
| DBC | Invesco DB Commodity Index Tracking Fund | $86M |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | $69M |
| HGER | Harbor Commodity All-Weather Strategy ETF | $51M |
| Outflows | ||
| GLD | SPDR Gold Shares | -$376M |
| IAU | iShares Gold Trust | -$372M |
| SIVR | abrdn Physical Silver Shares ETF | -$86M |
| USO | United States Oil Fund LP | -$68M |
| UNG | United States Natural Gas Fund LP | -$32M |
Issuer League Table Update
SPDR and iShares remain the dominant issuers in the Commodity ETF space, commanding 51.19% and 32.66% market share respectively. However, Invesco gathered the most weekly net inflows, taking in $274M over the trailing 5-day period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $181.59B | 51.19% |
| iShares | 7 | $115.88B | 32.66% |
| aberdeen | 7 | $21.80B | 6.15% |
| Invesco | 9 | $11.29B | 3.18% |
| US Commodity Funds | 8 | $4.57B | 1.29% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Invesco | $274M |
| First Trust | $69M |
| Harbor | $51M |
| Outflows | |
| iShares | -$323M |
| SPDR | -$266M |
| aberdeen | -$105M |
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.
