Weekly Channel Summary
The Commodity ETF channel, comprising 71 ETFs from 28 issuers, currently holds a total of $276.43 billion in Assets Under Management (AUM). Over the past week, the channel experienced net inflows of $2.23 billion, bringing the Year-to-Date (YTD) net inflows to $39.72 billion. The majority of the assets are concentrated in Precious Metals, which saw significant weekly inflows of $2.18 billion.
This Week’s Performance Leaders and Laggards
Industrial Metals and Precious Metals were the top-performing categories this week, driven by strong gains in copper and silver. In contrast, the Energy and Shipping Freight categories lagged significantly, with crude oil and dry futures experiencing the most substantial declines. This divergence highlights a clear investor preference for hard assets over energy-related commodities in the short term.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Industrial Metals | 4.62% | 7.84% | 5.81% | 11.31% | 19.63% | 9.47% |
| Carbon Credits | 3.91% | 7.47% | 12.12% | 19.86% | 9.62% | 10.51% |
| Precious Metals | 3.27% | 10.52% | 17.16% | 31.95% | 50.55% | 44.64% |
| Agriculture | -0.28% | -1.13% | -2.68% | -5.78% | -4.46% | -7.66% |
| Multi-Sector | -0.46% | 1.69% | 4.29% | 5.62% | 11.09% | 9.68% |
| Energy | -4.30% | -2.08% | -2.27% | -2.96% | -5.48% | -6.06% |
| Shipping Freight | -4.57% | 2.69% | 33.53% | 31.80% | 37.46% | -17.61% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s standout performer was the United States Copper Index Fund (CPER), which surged with a 6.95% gain. On the other end of the spectrum, oil-focused funds dominated the laggards list, with the Invesco DB Oil Fund (DBO) and the United States Oil Fund LP (USO) falling sharply by -7.32% and -7.31% respectively, reflecting the broader weakness in the energy sector.
| Top Performers | ||
| CPER | United States Copper Index Fund | 6.95% |
| SLV | iShares Silver Trust | 5.78% |
| SIVR | abrdn Physical Silver Shares ETF | 5.78% |
| CTWO | COtwo Advisors Physical European Carbon Allowance Trust ETF of Beneficial Interest | 4.62% |
| KEUA | KraneShares European Carbon Allowance Strategy ETF | 4.37% |
| Bottom Performers | ||
| DBO | Invesco DB Oil Fund | -7.32% |
| USO | United States Oil Fund LP | -7.31% |
| USE | USCF Energy Commodity Strategy Absolute Return Fund | -6.96% |
| BNO | United States Brent Oil Fund LP | -6.73% |
| UGA | United States Gasoline Fund LP | -6.40% |
Analyzing the Weekly Flows
The Commodity channel attracted a total of $2.23 billion in net inflows over the past five days. The Precious Metals category was the primary beneficiary, pulling in an impressive $2.18 billion. In contrast, the Energy category saw the most significant redemptions, with outflows totaling $45 million, followed by Carbon Credits with $13 million in outflows.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Precious Metals | 17 | $256.38B | $2,181M | $8,749M | $17,993M | $37,969M | $39,540M |
| Multi-Sector | 25 | $16.16B | $71M | $231M | $672M | $2,023M | $1,984M |
| Industrial Metals | 4 | $0.43B | $41M | $48M | $70M | $110M | $92M |
| Agriculture | 8 | $1.09B | ($3M) | $27M | $8M | $57M | $85M |
| Shipping Freight | 2 | $0.04B | ($2M) | ($9M) | ($48M) | ($14M) | $4M |
| Carbon Credits | 4 | $0.31B | ($13M) | ($17M) | ($4M) | ($32M) | ($174M) |
| Energy | 11 | $2.01B | ($45M) | ($118M) | $17M | ($397M) | ($1,111M) |
Top & Bottom 5 ETFs by 5-Day Flow
The SPDR Gold Shares (GLD) was the undisputed leader for inflows, gathering $1.11 billion over the past five days. In sharp contrast, the iShares Silver Trust (SLV) experienced the largest outflows, shedding $296 million, while the 3EDGE Dynamic Hard Assets ETF (EDGH) also saw a significant outflow of $66 million.
| Inflows | ||
| GLD | SPDR Gold Shares | $1,110M |
| IAU | iShares Gold Trust | $588M |
| GLDM | SPDR Gold Minishares Trust of beneficial interest | $362M |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | $192M |
| GSG | iShares S&P GSCI Commodity Indexed Trust | $88M |
| Outflows | ||
| SLV | iShares Silver Trust | ($296M) |
| EDGH | 3EDGE Dynamic Hard Assets ETF | ($66M) |
| UNG | United States Natural Gas Fund LP | ($33M) |
| BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | ($24M) |
| UGA | United States Gasoline Fund LP | ($19M) |
Issuer League Table Update
SPDR and iShares continue to dominate the Commodity channel, commanding 53.73% and 32.66% of the market share by AUM, respectively. This week, SPDR also led in asset gathering, attracting nearly $1.48 billion in new flows, reinforcing its top position in the league table.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| SPDR | 3 | $148.53B | 53.73% |
| iShares | 7 | $90.27B | 32.66% |
| abrdn | 8 | $16.05B | 5.81% |
| Invesco | 9 | $7.20B | 2.61% |
| First Trust | 1 | $2.23B | 0.81% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| SPDR | $1,479M |
| iShares | $574M |
| abrdn | $97M |
| Outflows | |
| 3Edge | -$66M |
| KraneShares | -$13M |
| US Commodity Funds | -$4M |
For a deeper dive into these trends, access our FREE, in-depth Commodity ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. The opinions expressed are those of ETF Action and should not be taken as a recommendation to buy or sell any security. Please consult your financial advisor for investment advice tailored to your specific situation.
This analysis was developed by the team at ETF Action utilizing our proprietary data and classification systems. The data is sourced from reputable financial data providers, but ETF Action does not guarantee its accuracy or completeness. Past performance is not indicative of future results.
