Weekly ETF Returns: An EM Rally

September 13, 2013

From Poland to Brazil, ETFs tapping into emerging markets stood out this week.

A slew of emerging markets exchange-traded funds took over this week’s tally of top-performing ETFs, outpacing gains in the broad stock market while investors poured more than $7.22 billion into international equities funds in the five-day period.

As the S&P 500 rallied 1.7 percent in the Thursday-to-Thursday period ended Sept. 12, the two giant emerging market ETFs in the space—the $50 billion Vanguard FTSE Emerging Markets ETF (VWO | B-86) and the $39.3 billion iShares MSCI Emerging Markets ETF (EEM | B-96)—were some of the most popular funds in the past week, with net inflows of $348 million and $2.45 billion, respectively.

But when it came to performance, it was single-country funds tapping into Poland, Turkey, Thailand, India, Greece and Brazil that stood out. The iShares MSCI Poland Capped ETF (EPOL | B-94) led the group of emerging-market-focused funds, with gains of just over 13 percent in only five days. That performance is particularly noteworthy for a fund that’s currently down more than 4 percent year-to-date.

The $342 million fund—which invests in the broad Polish equity market, and allocates about 60 percent of its portfolio to the country’s top 10 companies—was followed closely by the Market Vectors Poland ETF (PLND | C-83), which saw gains of 12.9 percent in the same period.

On the flip side, gold miner ETFs took a hit, even in a week where overall inflows into these strategies were strong, and total asset flows into equities funds in general topped $17 billion.

The Global X Pure Gold Miners ETF (GGGG | D-61) and the Global X Golf Explorers ETF (GLDX | D-26) each bled around 9 percent of their value. The funds are now down 43 percent and 50 percent year-to-date, respectively.

Both of the Market Vectors gold miner strategies—some of the largest in the segment—were also found among the week’s worst performers, with losses of 8 and 7 percent, respectively.

Top 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 15.04% 15,905 1.19
EPOL iShares MSCI Poland Capped 13.05% 1,207,859 342.79
PLND Market Vectors Poland 12.90% 193,559 27.99
TUR iShares MSCI Turkey 11.53% 2,360,468 476.52
THD iShares MSCI Thailand Capped 9.60% 1,382,368 615.00
INDY iShares India 50 8.76% 1,334,492 401.25
INP iPath MSCI India ETN 8.63% 329,308 318.21
GREK Global X FTSE Greece 20 8.60% 654,479 62.11
BRAF Global X Brazil Financials 8.35% 13,187 2.23
INXX EGShares India Infrastructure 8.33% 714,472 14.04

Bottom 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 -9.55% 2,750,984 171.78
VXX iPath S&P 500 VIX Short-Term Futures ETN -9.50% 226,447,485 1,308.43
VIIX VelocityShares VIX Short Term ETN -9.50% 1,470,486 13.35
GGGG Global X PURE Gold Miners -9.13% 196,709 3.58
GLDX Global X Gold Explorers -8.98% 228,692 34.48
GDX Market Vectors Gold Miners -8.16% 206,992,852 6,354.11
SIL Global X Silver Miners -7.91% 1,096,069 244.24
RING iShares MSCI Global Gold Miners -7.45% 254,766 34.85
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) -7.27% 29,467 1.78
GDXJ Market Vectors Junior Gold Miners -7.15% 4,526,387 1,564.77

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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