Worst Performing ETFs Of The Year

April 03, 2017

With oil and gas prices falling, about half a dozen energy ETFs found themselves on the worst-performers list for the quarter. The iPath Bloomberg Natural Gas Subindex Total Return ETN (GAZ) and the United States Natural Gas Fund (UNG), lost 33.7% and 19%, respectively.

At the same time, the United States Gasoline Fund (UGA) fell by 13.8% and the iPath Bloomberg Energy Subindex Total Return ETN (JJE)―which tracks oil, natural gas, gasoline and heating oil futures―lost 15.8%.

In addition to weighing on futures-tracking ETFs such as UNG, GAZ, UGA and JJE, those lower prices also weighed on energy equity ETFs.

The Elkhorn S&P MidCap Energy Portfolio (XE) and the PowerShares S&P SmallCap Energy Portfolio (PSCE) dropped 19% and 15%, respectively.

Sugar In Surplus

One exchange-traded product that doesn't fit into any of the VIX and energy buckets, but is still worth noting for its poor performance, is the iPath Bloomberg Sugar Subindex Total Return ETN (SGG). SGG tracked sugar futures lower to a 15.1% loss for the quarter.

Prices for sugar hit a four-year high in 2016 after two years of deficits. In 2017, most analysts currently expect the market to shift into a surplus, though that could change depending on the weather in Brazil and India.

For a full list of the worst-performing ETFs of Q1, see the table below:

Ticker Fund Report
VMAX  REX VolMAXX Long VIX Weekly Futures Strategy ETF -45.7%
VIIX  VelocityShares Daily Long VIX Short-Term ETN -39.2%
VXX iPath S&P 500 VIX Short-Term Futures ETN -39.2%
VIXY ProShares VIX Short-Term Futures ETF -39.1%
GAZ  iPath Bloomberg Natural Gas Subindex Total Return ETN -33.7%
GRN  iPath Global Carbon ETN -25.5%
VIXM  ProShares VIX Mid-Term Futures ETF -24.5%
VIIZ  VelocityShares VIX Medium Term ETN -24.4%
VXZ  iPath S&P 500 VIX Mid-Term Futures ETN -24.3%
XE  Elkhorn S&P MidCap Energy Portfolio -19.0%
UNG  United States Natural Gas Fund LP -19.0%
JJE  iPath Bloomberg Energy Subindex Total Return ETN -15.8%
SGG  iPath Bloomberg Sugar Subindex Total Return ETN -15.1%
PSCE PowerShares S&P SmallCap Energy Portfolio -15.0%
UGA  United States Gasoline Fund LP -13.8%

Note: Data is for the year-to-date period through March 30 and excludes leveraged ETFs.

Contact Sumit Roy at [email protected]

 

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