Weekly ETF Returns: Biotech, Solar ETFs Sink

April 17, 2014

Equity investors continued to punish momentum ETFs in a shortened trading week.

Biotech and solar ETFs fell last week more than 9.0 percent during a shortened week of trading, as worries over weak economic out of China and escalating violence between Russia and neighboring Ukraine continue to drag on momentum securities.

Specifically, the SPDR S&P Biotech ETF (XBI | A-47) fell 9.0 percent, making it the least popular ETF last week. High-flying Guggenheim Solar ETF (TAN | B-38), which gained 128 percent last year, dropped 6.6 percent last week. Its competitor, the Market Vectors Solar Energy (KWT), fell 7.7 percent.

But the sell-off wasn’t limited to just biotech and solar ETFs. The Market Vectors Vietnam ETF (VNM | C-37) dropped 8.4 percent on concerns about the country’s IPO market, which has attracted little to no attention from foreign investors to date, even as government officials continue to push out new offerings.

Also, the Global X Gold Explorers (GLDX | D-24) was down 8.8 percent, as the yellow metal fell below $1,300 an ounce over worries about escalating tensions between Russia and Ukraine, and Chinese demand for gold.

On the flip side, the iPath Global Carbon ETN (GRN | F-36) was the best ETF performer of the week, gaining 14.3 percent. However, Spencer Bogart, an ETF.com analyst, labeled GRN as one of America’s riskiest ETFs because the security provides exposure to a carbon market that’s relatively underdeveloped.


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 14.33% 17,636 1.77
JJN iPath Dow Jones-UBS Nickel Total Return ETN 7.91% 106,280 8.98
MLPW ETRACS Wells Fargo MLP ETN 7.53% 3,103 14.06
NINI iPath Pure Beta Nickel ETN 6.35% 13,756 6.68
UBM ETRACS CMCI Industrial Metals Total Return ETN 5.13% 139,598 4.54
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury 3.97% 88,034 79.35
LEDD iPath Pure Beta Lead ETN 3.92% 6,100 1.52
GRU ELEMENTS MLCX Grains - Total Return ETN 3.84% 25,715 8.11
EDV Vanguard Extended Duration Treasury 3.80% 389,514 234.07
FCG First Trust ISE-Revere Natural Gas 3.52% 3,586,555 499.43

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
XBI SPDR S&P Biotech -9.02% 7,374,411 1,037.58
GLDX Global X Gold Explorers -8.80% 252,487 42.04
VNM Market Vectors Vietnam -8.38% 2,028,782 500.78
KWT Market Vectors Solar Energy -7.69% 42,956 27.39
GDXJ Market Vectors Junior Gold Miners -7.55% 19,436,671 1,835.62
TAN Guggenheim Solar -6.56% 3,343,689 400.87
GREK Global X FTSE Greece 20 -6.12% 2,794,031 209.72
PTH PowerShares DWA Healthcare Momentum -6.00% 145,930 105.46
JO iPath Dow Jones-UBS Coffee Total Return ETN -5.59% 1,180,016 103.33
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) -5.49% 127,668 6.01

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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