At No. 1, the best-performing commodities ETP is the iPath Global Carbon ETN (GRN | F-36), which is up 52.73 percent year-to-date.
Carbon emissions credit prices are now up 42 percent since the beginning of the year. GRN serves up exposure to global carbon markets by tracking a Barclays index that measures the performance of emissions units issued under the Kyoto protocol.
But GRN is a highly illiquid strategy, and a costly one at that. All-in expenses clock in at 6.75 percent a year once you consider the average trading spread of this security. The ETN remains small with only $2.65 million in assets.
“Unfortunately for GRN, there’s much deserved skepticism about the viability of that carbon market,” our ETF Analytics fund report says. “While past performance shouldn’t be seen as predictive of future performance, it’s hard to ignore the fact that this fund is down more than 90 percent since inception.”
Charts courtesy of StockCharts.com