Weekly Channel Summary
The Commodities channel ended the week with $334.58B in total AUM spread across 76 ETFs from 32 issuers. Net flows were positive at $248M for the five-day period, bringing the YTD total to $8,748M and the 1-Year figure to $24,850M. These figures reflect continued, if measured, investor engagement with commodity exposures despite divergent performance across sub-categories.
This Week’s Performance Leaders and Laggards
Specialty – Shipping Freight was the standout category this week, surging 26.70% WTD and extending a remarkable YTD gain of 3771.26%, far outpacing every other segment. Focused – Energy was the only other category in positive territory, up 0.39% WTD and 95.85% YTD. On the downside, Focused – Precious Metals lagged with a -3.68% WTD decline despite a modest -5.49% YTD showing, while Focused – Industrial Metals also slipped 3.16% for the week. At the fund level, BWET led all commodity ETFs with a 32.75% weekly gain, while UCIB trailed the field at -8.10%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Shipping Freight | 26.70% | 76.17% | 352.01% | 481.91% | 3771.26% | 5249.74% |
| Focused – Energy | 0.39% | 6.00% | 37.45% | 11.31% | 95.85% | 89.11% |
| Specialty – Carbon Credits | -0.36% | -4.16% | -0.45% | 13.04% | -3.25% | 0.82% |
| Multi-Sector – Broad Market | -0.82% | 0.50% | 18.97% | 9.31% | 40.66% | 45.72% |
| Focused – Agriculture | -1.39% | -4.53% | 7.16% | 5.02% | 12.70% | 11.09% |
| Focused – Industrial Metals | -3.16% | -1.05% | 5.17% | 11.45% | 11.27% | 27.07% |
| Focused – Precious Metals | -3.68% | -5.81% | 0.45% | -12.10% | -5.49% | 9.77% |
Top & Bottom 5 ETFs by Weekly Performance
Beyond the shipping freight outlier, oil-linked products showed relative strength, with BNO climbing 5.78% and UGA adding 4.06% for the week. Sugar exposure via CANE also posted a solid 5.44% gain. On the opposite end, precious metals names struggled, with PALL down 7.53% and SLV falling 5.85%, while natural gas exposure through UNG dropped 5.93%. Dry bulk shipping via BDRY also underperformed, down 7.31% despite the strength seen in the broader shipping freight category.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BWET | Breakwave Tanker Shipping ETF | 32.75% |
| BNO | United States Brent Oil Fund LP | 5.78% |
| CANE | Teucrium Sugar Fund | 5.44% |
| UGA | United States Gasoline Fund LP | 4.06% |
| USL | United States 12 Month Oil Fund LP | 2.48% |
| Bottom Performers | ||
| UCIB | ETRACS CMCI Total Return ETN Series B | -8.10% |
| PALL | abrdn Physical Palladium Shares ETF | -7.53% |
| BDRY | Breakwave Dry Bulk Shipping ETF | -7.31% |
| UNG | United States Natural Gas Fund LP | -5.93% |
| SLV | iShares Silver Trust | -5.85% |
Analyzing the Weekly Flows
The channel recorded a net inflow of $248M over the five-day period, led decisively by Focused – Precious Metals, which gathered $765M and also leads on a 30-day, 90-day, and 1-Year basis with $15,254M. Multi-Sector – Broad Market added a modest $12M for the week but carries the largest YTD inflow total at $7,321M. On the outflow side, Focused – Energy saw the steepest weekly redemption at -$405M, compounding a -$843M 90-day trend, while Focused – Agriculture also shed $80M. Smaller outflows were seen in Specialty – Shipping Freight (-$34M) and Focused – Industrial Metals (-$9M), even as both categories posted strong YTD figures.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Focused – Precious Metals | 18 | $295.59B | $765M | $3,170M | $13,164M | $237M | $15,254M |
| Multi-Sector – Broad Market | 29 | $31.33B | $12M | $1,041M | $3,701M | $7,321M | $8,300M |
| Specialty – Carbon Credits | 3 | $257M | -$0M | $5M | -$1M | -$34M | -$55M |
| Focused – Industrial Metals | 4 | $1.08B | -$9M | -$43M | -$69M | $324M | $510M |
| Specialty – Shipping Freight | 2 | $229M | -$34M | -$32M | $29M | -$11M | -$23M |
| Focused – Agriculture | 8 | $2.36B | -$80M | $44M | $140M | $1,234M | $1,191M |
| Focused – Energy | 12 | $3.73B | -$405M | -$490M | -$843M | -$323M | -$328M |
Top & Bottom 5 ETFs by 5-Day Flow
Gold-backed products dominated fund-level inflows, with GLDM topping the list at $331M, followed closely by GLD at $282M and IAUM at $140M. On the redemption side, USO led outflows by a wide margin at -$316M, followed by UNG at -$62M. These flows underscore a rotation toward gold exposure even as broader energy-linked products faced sustained redemptions.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| GLDM | SPDR Gold Minishares Trust of beneficial interest | $331M |
| GLD | SPDR Gold Shares | $282M |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | $140M |
| BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | $65M |
| IAU | iShares Gold Trust | $38M |
| Outflows | ||
| USO | United States Oil Fund LP | -$316M |
| UNG | United States Natural Gas Fund LP | -$62M |
| EDGH | 3EDGE Dynamic Hard Assets ETF | -$42M |
| DBA | Invesco DB Agriculture Fund | -$40M |
| GSG | iShares S&P GSCI Commodity Indexed Trust | -$39M |
Issuer League Table Update
SPDR remains the dominant issuer by market share at 51.61% ($172.67B across 3 funds), followed by iShares at 30.79% ($103.03B across 7 funds), together accounting for over 82% of channel AUM. SPDR also led weekly inflows with $610M, driven largely by its gold trust products, while iShares added a further $129M. On the outflow side, US Commodity Funds recorded the largest weekly redemption at -$407M, consistent with the pressure seen in energy-linked funds, followed by Invesco at -$57M and 3Edge at -$42M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $172.67B | 51.61% |
| iShares | 7 | $103.03B | 30.79% |
| aberdeen | 7 | $20.61B | 6.16% |
| Invesco | 9 | $12.55B | 3.75% |
| Harbor | 2 | $4.79B | 1.43% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| SPDR | $610M |
| iShares | $129M |
| aberdeen | $58M |
| Outflows | |
| US Commodity Funds | -$407M |
| Invesco | -$57M |
| 3Edge | -$42M |
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.
