Rising markets and demand from China is good business for copper ETFs.
Metals-related ETPs led ETFs this past week, gaining upward of 7 percent thanks to an improving U.S. economy and stronger demand from China.
The Global X Copper Miners (COPX | D-99) was the top-performing metals ETF this week ending Wednesday, returning 7.3 percent, buoyed by signs of economic acceleration in the U.S. as well as China-fueled buying of the metal. Copper has underperformed up until recently, according to Sumit Roy, managing editor of Hard Asset Investor, making the bounce a bit more significant, he notes.
“Many now see copper as a bargain given that it is still down year-to-date while most other metals are up,” said Roy.
On the flip side, the Morgan Stanley S&P 500 Oil Hedged ETN (BARL) was the worst-performing ETP last week, as both WTI and Brent crude oil prices have slipped a bit as new supplies from Libya calmed a market that has been spiking recently thanks to rising violence in Iraq.
Half the ETN is allocated to the S&P 500 and the other half is equally weighted to WTI and Brent oil.
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| GRN | iPath Global Carbon ETN | 13.43% | 13,527 | 1.91 |
| COPX | Global X Copper Miners | 7.32% | 233,966 | 37.42 |
| JJN | iPath Dow Jones-UBS Nickel Total Return ETN | 7.01% | 22,823 | 16.01 |
| NINI | iPath Pure Beta Nickel ETN | 6.39% | 16,336 | 6.97 |
| KWEB | KraneShares CSI China Internet | 6.33% | 325,879 | 77.47 |
| INCO | EGShares India Consumer | 5.95% | 10,925 | 7.19 |
| URA | Global X Uranium | 5.75% | 856,721 | 240.63 |
| CU | First Trust ISE Global Copper | 5.73% | 80,697 | 31.03 |
| SPGH | ETRACS S&P 500 Gold Hedged ETN | 5.72% | 6,589 | 22.02 |
| BJK | Market Vectors Gaming | 5.43% | 159,599 | 61.79 |
Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| BARL | Morgan Stanley S&P 500 Oil Hedged ETN | -33.98% | 2,001 | 18.36 |
| CVOL | C-Tracks Citi Volatility ETN | -12.93% | 578,563 | 5.12 |
| QDEM | Market Vectors MSCI Emerging Markets Quality Dividend | -6.96% | 14,597 | 5.44 |
| SOYB | Teucrium Soybeans | -5.98% | 43,947 | 5.51 |
| JO | iPath Dow Jones-UBS Coffee Total Return ETN | -5.34% | 629,342 | 82.68 |
| NAGS | Teucrium Natural Gas | -5.26% | 10,478 | 1.31 |
| JJG | iPath Dow Jones UBS Grains Total Return ETN | -5.21% | 250,964 | 75.76 |
| JJA | iPath Dow Jones UBS Agriculture Total Return ETN | -5.13% | 51,637 | 84.33 |
| CAFE | iPath Pure Beta Coffee ETN | -5.13% | 30,424 | 6.74 |
| WEET | iPath Pure Beta Grains ETN | -4.99% | 1,500 | 0.45 |
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.
