Weekly Channel Summary
The Commodity ETF channel, encompassing 71 ETFs from 28 issuers, holds a total of $289 billion in assets under management. The channel experienced net outflows of $176 million over the past week, though it maintains a strong positive year-to-date inflow of $45.06 billion.
This Week’s Performance Leaders and Laggards
Shipping Freight was the top-performing category this week with a 3.20% return, driven by strong gains in both wet and dry futures. Industrial Metals was the worst-performing category, posting a -1.61% week-to-date return.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Shipping Freight | 3.20% | 19.45% | 33.89% | 57.20% | 65.25% | 37.46% |
| Multi-Sector | -0.19% | 0.44% | 6.44% | 10.05% | 12.47% | 12.28% |
| Carbon Credits | -0.64% | -0.89% | 10.10% | 13.31% | 7.61% | 4.24% |
| Agriculture | -0.81% | -1.34% | -1.16% | -4.73% | -5.91% | -7.01% |
| Energy | -0.83% | -1.70% | 0.05% | 4.83% | -5.31% | -0.54% |
| Precious Metals | -0.97% | 0.19% | 18.99% | 28.50% | 54.53% | 46.86% |
| Industrial Metals | -1.61% | 0.40% | 11.82% | 15.14% | 20.60% | 12.30% |
Top & Bottom 5 ETFs by Weekly Performance
The best-performing ETF was the UNG United States Natural Gas Fund LP, which gained 4.69%. The worst-performing ETFs were the UX Roundhill Uranium ETF, down -8.58%, and the KCCA KraneShares California Carbon Allowance Strategy ETF, which fell -5.26%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| UNG | United States Natural Gas Fund LP | 4.69% |
| BDRY | Breakwave Dry Bulk Shipping ETF | 3.31% |
| BWET | Breakwave Tanker Shipping ETF | 3.08% |
| UGA | United States Gasoline Fund LP | 2.12% |
| UNL | United States 12 Month Natural Gas Fund LP | 1.88% |
| Bottom Performers | ||
| UX | Roundhill Uranium ETF | -8.58% |
| KCCA | KraneShares California Carbon Allowance Strategy ETF | -5.26% |
| PALL | abrdn Physical Palladium Shares ETF | -4.72% |
| USE | USCF Energy Commodity Strategy Absolute Return Fund | -2.47% |
| CPER | United States Copper Index Fund | -2.44% |
Analyzing the Weekly Flows
The commodity channel saw total net outflows of $176 million this week. Multi-Sector funds led inflows, gathering $145 million. Precious Metals experienced the most significant outflows, shedding $238 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Multi-Sector | 25 | $16.81B | $145M | $135M | $565M | $2,336M | $1,990M |
| Industrial Metals | 4 | $0.49B | $6M | $42M | $80M | $160M | $135M |
| Agriculture | 8 | $1.09B | $4M | ($3M) | $40M | $51M | $57M |
| Carbon Credits | 4 | $0.31B | ($2M) | ($4M) | ($8M) | ($36M) | ($168M) |
| Shipping Freight | 2 | $0.04B | ($2M) | ($4M) | ($15M) | ($18M) | ($2M) |
| Energy | 11 | $2.03B | ($91M) | ($62M) | $45M | ($415M) | ($1,030M) |
| Precious Metals | 17 | $268.10B | ($238M) | $4,385M | $19,398M | $42,985M | $42,926M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, GLD SPDR Gold Shares led inflows, attracting $364 million. The largest outflows came from the GLDM SPDR Gold Minishares Trust, which lost $285 million, and the SLV iShares Silver Trust, which saw outflows of $146 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| GLD | SPDR Gold Shares | $364M |
| HGER | Harbor Commodity All-Weather Strategy ETF | $98M |
| SIVR | abrdn Physical Silver Shares ETF | $56M |
| BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | $49M |
| UGA | United States Gasoline Fund LP | $20M |
| Outflows | ||
| GLDM | SPDR Gold Minishares Trust of beneficial interest | ($285M) |
| SLV | iShares Silver Trust | ($146M) |
| IAU | iShares Gold Trust | ($137M) |
| USO | United States Oil Fund LP | ($64M) |
| PPLT | abrdn Physical Platinum Shares ETF | ($57M) |
Issuer League Table Update
The Commodity channel remains concentrated, with SPDR (54.20% market share) and iShares (32.07% market share) controlling the vast majority of assets. This week’s flow leader among issuers was Harbor, which brought in $98 million, followed by SPDR with $78 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $156.57B | 54.20% |
| iShares | 7 | $92.63B | 32.07% |
| aberdeen | 8 | $17.02B | 5.89% |
| Invesco | 9 | $7.25B | 2.51% |
| VanEck | 3 | $2.34B | 0.81% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Harbor | $98M |
| SPDR | $78M |
| aberdeen | $31M |
| Outflows | |
| iShares | ($334M) |
| US Commodity Funds | ($78M) |
| GraniteShares | ($8M) |
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 analysis was developed by the team at ETF Action. All data is as of November 7, 2025.
This analysis was developed by the team at ETF Action. All data is as of November 7, 2025.
