Agriculture was May’s sole bright spot in the commodity ETF space. The iPath Series B Bloomberg Coffee Subindex Total Return ETN (JO) led the way, with a gain of 12.48%, followed by the Invesco DB Agriculture Fund (DBA), up 3.54%, and the iPath Bloomberg Cocoa Subindex Total Return ETN (NIB), up 2.09%. The worst-performing fund was the United States Oil Fund LP (USO), down 16.33%, while the United States Gasoline Fund LP (UGA) was down 12.95% and the Invesco DB Energy Fund (DBE) was down 12%. Flows were largely unremarkable, with the SPDR Gold Trust (GLD) losing $133.4 million, while the iShares S&P GSCI Commodity Indexed Trust (GSG) lost $121.5 million and the Invesco DB Commodity Index Tracking Fund (DBC) lost $43.7 million. USO topped the inflows, with a gain of just $14.5 million, followed by the Aberdeen Standard Physical Platinum Shares (PPLT), which gained $7 million, and the Aberdeen Standard Physical Precious Metals Basket Shares (GLTR), which gained $3.1 million. Sources: Bloomberg and FactSet. Data from 04/30/2019 to 05/31/2019. ETFs chosen to represent each sector based on the most liquid ETF in each segment of the ETF.com ETF Classification System.