Best/Worst Weekly ETF Returns: Miners Tank

April 19, 2013

Gold and silver miners funds underperformed on falling bullion prices; natgas rose.

Gold and silver miners funds were walloped by 20 percent performance drops in the week ending Thursday, April 18, as gold prices of both metals fell to record lows. Meanwhile, natural gas ETFs outperformed.

The Market Vectors Junior Gold Miners fund (NYSEArca: GDXJ) was the biggest loser, plummeting 22.42 percent. Eight other gold and silver miners ETFs landed on the worst performers' list, with losses ranging from GDXJ's 22.42 percent to the 17.66 percent slide in the Market Vectors Gold Miners ETF (NYSEArca: GDX).

Mining funds like GDXJ and GDX focus on securities that fuel the production and excavation efforts of physical metals. As bullion prices drop, as they did—drastically—over the past week, miners funds are collaterally damaged by weakened profits and investor wariness.

Over the same five-day period, the S&P 500 stumbled 51.76 points, or 3.2 percent, to close Thursday at 1541.61.

Drooping markets boosted performance in volatility-focused ETNs.

Natural gas funds also outperformed, as prices rallied to 21-month highs after the Energy Information Administration reported reserves were lower than analysts' expectations and that cool temperatures in the Midwest helped turn sentiment bullish, tightening supply-and-demand pressure and causing natgas to rally.

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
VIXY ProShares VIX Short-Term 19.46% 24,984,214 239.16
VIIX VelocityShares VIX Short Term ETN 19.41% 5,354,992 9.41
VXX iPath S&P 500 VIX Short-Term Futures ETN 19.41% 462,575,294 1,499.46
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN 7.40% 980,858 46.79
UNG United States Natural Gas 6.24% 26,663,416 962.07
VIXM ProShares VIX Mid-term 5.39% 460,652 63.77
VIIZ VelocityShares VIX Mid Term ETN 5.39% 6,160 3.90
VXZ iPath S&P 500 VIX Mid-Term Futures ETN 5.39% 3,919,827 54.13
INXX EGShares India Infrastructure 5.37% 36,512 54.43
UNL United States 12 Month Natural Gas 5.09% 255,180 41.46

Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GRN iPath Global Carbon ETN -34.50% 31,135 0.50
GDXJ Market Vectors Junior Gold Miners -22.42% 47,567,675 1,580.12
GLDX Global X Gold Explorers -22.18% 2,037,073 26.91
GGGG Global X PURE Gold Miners -20.73% 42,150 2.75
SIL Global X Silver Miners -19.27% 2,296,979 208.16
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) -19.23% 18,046 2.51
RING iShares MSCI Global Gold Miners -18.56% 1,040,133 27.35
SLVP iShares MSCI Global Silver Miners -18.42% 60,647 4.05
JUNR Global X Junior Miners ETF -17.93% 56,272 2.64
GDX Market Vectors Gold Miners -17.66% 233,332,546 5,836.65

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

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