Weekly Channel Summary
The Commodities channel ended the week with $333.78B in total AUM spread across 76 ETFs from 32 issuers. Net flows totaled $1,291M over the trailing five days, bringing the year-to-date tally to $9,917M and the one-year total to $20,998M. The sustained inflow pace over the past year underscores continued investor demand for commodity exposure despite mixed performance across categories.
This Week’s Performance Leaders and Laggards
Focused – Energy led all categories with a 5.92% weekly gain, extending a remarkable YTD advance of 111.15% and a one-year return of 115.34%. Multi-Sector – Broad Market also posted a solid 1.49% weekly gain, while most other segments declined. Specialty – Shipping Freight was the weakest performer this week at -9.92%, though its YTD figure of 4,126.43% reflects extreme base-effect volatility in a tiny two-fund category. Focused – Industrial Metals and Specialty – Carbon Credits also slipped, down 1.99% and 1.31% respectively, as metals broadly cooled.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Focused – Energy | 5.92% | 4.73% | 31.54% | 27.07% | 111.15% | 115.34% |
| Multi-Sector – Broad Market | 1.49% | 0.77% | 15.16% | 13.42% | 44.65% | 49.22% |
| Focused – Agriculture | -0.55% | -3.10% | 2.57% | 5.20% | 12.26% | 11.12% |
| Focused – Precious Metals | -1.28% | -3.34% | 4.35% | -14.89% | -5.59% | -2.68% |
| Specialty – Carbon Credits | -1.31% | -0.12% | 0.09% | 10.43% | -2.69% | -1.22% |
| Focused – Industrial Metals | -1.99% | 0.81% | 2.63% | 3.85% | 10.97% | 25.34% |
| Specialty – Shipping Freight | -9.92% | 11.13% | 263.61% | 558.74% | 4126.43% | 4931.91% |
Top & Bottom 5 ETFs by Weekly Performance
Oil-linked funds dominated the week’s top performers, with United States Oil Fund LP (USO) leading at 9.15%, followed by Invesco DB Oil Fund (DBO) at 7.71%. On the downside, shipping-focused funds Breakwave Tanker Shipping ETF (BWET) and Breakwave Dry Bulk Shipping ETF (BDRY) fell nearly 10% each. Silver-related funds also struggled, with iShares Silver Trust (SLV) down 5.97%, consistent with the broader Precious Metals category’s weekly decline of 1.28%. These moves highlight a clear rotation favoring energy exposure over metals and freight this week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| USO | United States Oil Fund LP | 9.15% |
| DBO | Invesco DB Oil Fund | 7.71% |
| USL | United States 12 Month Oil Fund LP | 6.23% |
| OILK | ProShares K-1 Free Crude Oil ETF of Benef Interest | 5.79% |
| DBE | Invesco DB Energy Fund | 5.32% |
| Bottom Performers | ||
| BWET | Breakwave Tanker Shipping ETF | -9.95% |
| BDRY | Breakwave Dry Bulk Shipping ETF | -9.65% |
| YSAG | Texas Precious Metals Trust Y'all Street Physical Silver ETF | -5.98% |
| SLV | iShares Silver Trust | -5.97% |
| SIVR | abrdn Physical Silver Shares ETF | -5.95% |
Analyzing the Weekly Flows
The channel attracted $1,291M in net inflows over the past five trading days, led decisively by Focused – Precious Metals, which captured $1,165M despite its negative weekly price performance. Multi-Sector – Broad Market added a further $265M, continuing its strong year-to-date trend of $7,558M. On the outflow side, Focused – Energy saw the largest redemptions at $83M, followed by Focused – Industrial Metals and Specialty – Shipping Freight, which lost $23M and $22M respectively. This divergence between price performance and flows suggests investors used recent metals weakness as a buying opportunity while trimming exposure to energy despite its strong rally.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Focused – Precious Metals | 18 | $293.88B | $1,165M | $2,040M | $14,752M | $1,132M | $11,339M |
| Multi-Sector – Broad Market | 29 | $31.98B | $265M | $612M | $4,078M | $7,558M | $8,346M |
| Specialty – Carbon Credits | 3 | $256M | -$2M | -$0M | -$1M | -$34M | -$42M |
| Focused – Agriculture | 8 | $2.37B | -$9M | -$205M | $97M | $1,217M | $1,196M |
| Specialty – Shipping Freight | 2 | $269M | -$22M | -$74M | $52M | $15M | $6M |
| Focused – Industrial Metals | 4 | $1.05B | -$23M | -$55M | -$111M | $293M | $456M |
| Focused – Energy | 12 | $3.97B | -$83M | -$384M | -$985M | -$263M | -$302M |
Top & Bottom 5 ETFs by 5-Day Flow
SPDR Gold Shares (GLD) drew the largest inflow of the week at $840M, with SPDR Gold Minishares Trust (GLDM) adding another $238M, reinforcing strong demand for gold exposure despite price softness. On the outflow side, iShares Gold Trust (IAU) led redemptions at -$125M, followed by United States Oil Fund LP (USO) at -$61M despite its strong weekly price gain. The contrast between GLD’s inflows and IAU’s outflows indicates investors may be consolidating gold exposure within specific vehicles rather than exiting the metal broadly.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| GLD | SPDR Gold Shares | $840M |
| GLDM | SPDR Gold Minishares Trust of beneficial interest | $238M |
| SLV | iShares Silver Trust | $219M |
| CERY | State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | $95M |
| HGER | Harbor Commodity All-Weather Strategy ETF | $89M |
| Outflows | ||
| IAU | iShares Gold Trust | -$125M |
| USO | United States Oil Fund LP | -$61M |
| UNG | United States Natural Gas Fund LP | -$35M |
| PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | -$32M |
| BWET | Breakwave Tanker Shipping ETF | -$22M |
Issuer League Table Update
SPDR remains the dominant issuer by assets with $173.64B, representing a 52.02% share of the channel, followed by iShares at $101.21B and a 30.32% share. SPDR also led weekly inflows by a wide margin, pulling in $1,174M, with iShares adding $142M and Harbor contributing $89M. On the outflow side, US Commodity Funds saw the largest weekly redemptions at -$107M, followed by Invesco at -$44M and Amplify at -$22M. The data shows SPDR extending its commanding lead in both asset share and weekly flow momentum this period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $173.64B | 52.02% |
| iShares | 7 | $101.21B | 30.32% |
| aberdeen | 7 | $20.01B | 5.99% |
| Invesco | 9 | $12.64B | 3.79% |
| Harbor | 2 | $4.95B | 1.48% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| SPDR | $1,174M |
| iShares | $142M |
| Harbor | $89M |
| Outflows | |
| US Commodity Funds | -$107M |
| Invesco | -$44M |
| Amplify | -$22M |
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.
