Weekly Channel Summary
The Commodities channel closed the week with $351.15B in total AUM spread across 76 ETFs from 31 issuers. Net flows were positive over the trailing 5-day period at $2,635M, contributing to a $9,080M YTD total and a robust $32,772M gain over the trailing year. The channel’s steady inflow trend this week reinforces a broader pattern of accumulation that has persisted through much of 2026.
This Week’s Performance Leaders and Laggards
Specialty – Shipping Freight was the standout performer on a WTD basis, surging 17.70% and extending an extraordinary YTD gain of 3973.04%, dwarfing every other category in the channel. Focused – Industrial Metals also posted a solid week at 2.46% WTD, while Focused – Precious Metals added 0.91%. On the downside, Focused – Agriculture lagged with a -2.44% WTD decline, followed by Specialty – Carbon Credits at -1.22%, though both categories remain positive or roughly flat over longer horizons. The spread between the best and worst performing categories this week highlights the continued volatility embedded in niche commodity segments relative to broader diversified baskets.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Shipping Freight | 17.70% | 108.22% | 282.68% | 923.02% | 3973.04% | 5114.89% |
| Focused – Industrial Metals | 2.46% | 2.93% | 3.14% | 16.43% | 14.23% | 38.74% |
| Focused – Precious Metals | 0.91% | 1.13% | 3.33% | -10.14% | 0.14% | 24.19% |
| Focused – Energy | -0.01% | 14.54% | 27.82% | 17.82% | 97.60% | 83.93% |
| Multi-Sector – Broad Market | -0.34% | 6.55% | 17.60% | 11.99% | 42.81% | 48.65% |
| Specialty – Carbon Credits | -1.22% | -1.93% | 1.04% | 18.40% | -2.19% | 2.79% |
| Focused – Agriculture | -2.44% | 1.53% | 8.00% | 6.05% | 13.48% | 10.29% |
Top & Bottom 5 ETFs by Weekly Performance
BWET led all funds with a 19.98% weekly gain, consistent with the shipping freight category’s outsized move and its staggering YTD trajectory. UGA followed at 4.66%, while silver-linked products SLV and SIVR each gained roughly 3%. On the bottom end, CANE declined 4.08%, with agriculture-focused PDBA and DBA also among the week’s weakest performers. The dispersion between top and bottom funds underscores how agriculture and shipping moved in opposite directions this week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BWET | Breakwave Tanker Shipping ETF | 19.98% |
| UGA | United States Gasoline Fund LP | 4.66% |
| MWHS | Skylar Electricity Futures ETF | 3.15% |
| SLV | iShares Silver Trust | 3.11% |
| SIVR | abrdn Physical Silver Shares ETF | 3.04% |
| Bottom Performers | ||
| CANE | Teucrium Sugar Fund | -4.08% |
| PDBA | Invesco Agriculture Commodity Strategy No K-1 ETF | -2.95% |
| DBA | Invesco DB Agriculture Fund | -2.70% |
| KCCA | KraneShares California Carbon Allowance Strategy ETF | -2.07% |
| HARD | Simplify Commodities Strategy No K-1 ETF | -1.91% |
Analyzing the Weekly Flows
The Commodities channel attracted $2,635M in net inflows over the past five trading days. Focused – Precious Metals dominated flow activity with $1,980M in inflows, reflecting continued investor demand for gold and silver exposure and building on a strong $8,758M 30-day and $9,615M 90-day trend. Multi-Sector – Broad Market and Focused – Agriculture also gathered meaningful inflows of $428M and $127M, respectively. Focused – Industrial Metals was the lone category to see outflows this week, shedding $17M, a modest reversal against its positive YTD and 1-Year flow totals.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Focused – Precious Metals | 18 | $310.75B | $1,980M | $8,758M | $9,615M | -$74M | $22,397M |
| Multi-Sector – Broad Market | 29 | $31.79B | $428M | $1,433M | $3,172M | $7,186M | $8,291M |
| Focused – Agriculture | 8 | $2.58B | $127M | $337M | $80M | $1,383M | $1,346M |
| Focused – Energy | 12 | $4.30B | $85M | -$372M | -$489M | $166M | $135M |
| Specialty – Shipping Freight | 2 | $358M | $33M | $105M | $145M | $112M | $95M |
| Specialty – Carbon Credits | 3 | $258M | $0M | $11M | -$8M | -$34M | -$56M |
| Focused – Industrial Metals | 4 | $1.12B | -$17M | -$54M | -$80M | $340M | $564M |
Top & Bottom 5 ETFs by 5-Day Flow
GLD led all funds with $1,347M in weekly inflows, far outpacing the rest of the field and anchoring the precious metals category’s strong showing. Other gold-linked vehicles including IAU and IAUM also drew sizable inflows of $409M and $202M. On the outflow side, SLV saw the largest redemptions at -$183M despite posting positive weekly performance, while USO shed -$46M. These divergent flow patterns suggest some investors are rotating within precious metals or taking profits after recent price strength.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| GLD | SPDR Gold Shares | $1,347M |
| IAU | iShares Gold Trust | $409M |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | $202M |
| GLDM | SPDR Gold Minishares Trust of beneficial interest | $180M |
| HGER | Harbor Commodity All-Weather Strategy ETF | $163M |
| Outflows | ||
| SLV | iShares Silver Trust | -$183M |
| USO | United States Oil Fund LP | -$46M |
| DBA | Invesco DB Agriculture Fund | -$42M |
| DBB | Invesco DB Base Metals Fund | -$16M |
| UGA | United States Gasoline Fund LP | -$7M |
Issuer League Table Update
SPDR remains the dominant issuer in the Commodities channel with $181.75B in AUM and a 51.76% market share, followed by iShares at $107.99B and 30.75% share. SPDR also led weekly inflow activity, pulling in $1,527M, driven largely by strength in its flagship gold product. iShares ranked second in weekly inflows with $460M, while Invesco added $215M. On the outflow side, ProShares registered the only net redemption among issuers, a modest -$6M, with most other issuers showing flat or positive flows for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $181.75B | 51.76% |
| iShares | 7 | $107.99B | 30.75% |
| aberdeen | 7 | $21.55B | 6.14% |
| Invesco | 9 | $12.79B | 3.64% |
| Harbor | 2 | $4.81B | 1.37% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| SPDR | $1,527M |
| iShares | $460M |
| Invesco | $215M |
| Outflows | |
| ProShares | -$6M |
| Goldman Sachs | $0M |
| Simplify | $0M |
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.
