Commodities In Review: May 2020

May 01, 2020

Only one commodity ETF recorded a positive return in March. The iPath Series B Bloomberg Coffee Subindex Total Return ETN (JO) was up 5.5%, but from there it was a steep slide. The second-best performer was the SPDR Gold Trust (GLD), down 0.22%, followed by the United States Natural Gas Fund LP (UNG), down 4.2%. At the other end of the spectrum, the United States Gasoline Fund LP (UGA) plunged a dizzying 60.81%, while the United States Oil Fund LP (USO) was down 55.45% and the iShares S&P GSCI Commodity Indexed Trust (GSG) fell by 30.39%. With regard to flows, USO was the clear winner, pulling in $2.2 billion, while GLD pulled in $1.6 billion and the iShares Silver Trust (SLV) gained $311.6 million. In terms of outflows, the Invesco DB Commodity Index Tracking Fund (DBC) saw the most outflows, $135.8 mil lion, while UNG deflated by $88.3 million and the iPath Bloomberg Commodity Index Total Return ETN (DJP) lost $82.5 million.

 

Sources: Bloomberg and FactSet. Data from 3/31/2019 to 3/31/2020. ETFs chosen to represent each sector based on the most liquid ETF in each segment of the ETF.com ETF Classification System.

 

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