Weekly ETF Returns: Copper, Russia Fall

March 14, 2014

Copper ETPs fell in the past week on a slowdown in commodity consumption in China.

The Global X Copper Miners ETF (COPX | C-98) fell nearly 10 percent in the past week following news of slowing economic growth in China, the world’s largest copper consumer.

China’s copper imports fell to 380,000 metric tons in February from a record 536,483 tons a month earlier, according to Bloomberg, citing Chinese customs data. The yuan’s depreciation, weakening demand from end-users and rising domestic output of refined metal contributed to the decline.

The news helped push the First Trust ISE Global Copper (CU | D-71) and the iPath Dow Jones-UBS Copper Total Return ETN (JJC | B-82) down 8.5 percent and 7.9 percent, respectively.

Elsewhere, Russia-focused ETFs continued to drop as tensions between Russia and Ukraine ratcheted up. President Vladimir Putin deployed more troops and armored vehicles to at least three regions along Ukraine’s eastern border on Thursday, March 13, as a referendum on Crimea seceding from Ukraine looms.

The iShares MSCI Russia Capped ETF (ERUS | C-92), the SPDR S&P Russia ETF (RBL | D-67) and the Market Vectors Russia ETF (RSX | C-64) were down 6.5 percent, 6.3 percent and 6.3 percent, respectively.

Gainers

On the other end of the returns spectrum, the Teucrium wheat fund (WEAT | A) led all ETFs, with a gain of 5.8 percent, also due to escalating tensions between Russia and Ukraine.

The two countries, combined, will produce 74 million tons of wheat in the 2013-2014 marketing season and export a total of 26.5 million tons of the grain (representing 17 percent of world grain trade), according to Motley Fool.

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
WEAT Teucrium Wheat 5.77% 405,512 13.66
INXX EGShares India Infrastructure 5.69% 42,047 15.93
BAL iPath Dow Jones-UBS Cotton Total Return ETN 4.20% 81,742 25.22
INDY iShares India 50 4.18% 860,479 467.26
GREK Global X FTSE Greece 20 3.75% 1,964,549 240.00
EPI WisdomTree India Earnings 3.73% 22,578,471 868.15
IDXJ Market Vectors Indonesia Small Cap 3.66% 170,421 6.47
CTNN iPath Pure Beta Cotton ETN 3.51% 1,430 2.09
INP iPath MSCI India ETN 3.11% 237,461 349.36
VNM Market Vectors Vietnam 3.01% 1,400,422 507.08

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
COPX Global X Copper Miners -9.59% 341,103 29.31
CU First Trust ISE Global Copper -8.45% 55,310 27.47
JJC iPath Dow Jones-UBS Copper Total Return ETN -7.94% 838,821 81.44
CPER United States Copper -7.53% 37,181 1.98
ERUS iShares MSCI Russia Capped -6.53% 3,238,688 204.68
RBL SPDR S&P Russia -6.29% 267,817 13.55
RSX Market Vectors Russia -6.25% 45,774,399 918.49
RSXJ Market Vectors Russia Small-Cap -5.90% 523,470 19.52
ESR iShares MSCI Emerging Markets Eastern Europe -5.63% 105,650 128.97
DBB PowerShares DB Base Metals -5.12% 1,256,229 297.60

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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