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Precious metals, oil, and natural gas dominate our 10 best ETF* performers of the week
Silver prices were down a hefty 7.2% for the week, making VelocityShares 3x Inverse Silver ETN (Nasdaq: DSLV) the big winner. The ultra-short silver fund gained 20.4%.
Gold was also down, dropping 2.6% after a 1.1% drop the week before. Two gold miner bear funds capitalized, with Direxion Daily Junior Gold Miners Index Bear 3x Shares (NYSE Arca: JDST) gaining 20%, and Direxion Daily Gold Miners Bear 3x Shares (NYSE Arca: DUST) gaining 12%. DUST was the only ETF to make the list for the second week in a row.
Natural gas and oil both fell, dropping 5.6% and 3.9%, respectively. That set the stage for big gains by inverse funds. VelocityShares 3x Inverse Natural Gas ETN (NYSE Arca: DGAZ) gained 17.2% for the week. Velocity Shares 3x Inverse Crude Oil ETN (NYSE Arca: DWT) was up 11.3%, and ProShares UltraShort Bloomberg Crude Oil (NYSE Arca: SCO) was up 8%. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares (NYSE Arca: DRIP) benefited from both fuels' losses with an 11.4% gain.
Semiconductor companies reversed their fortunes last week. After its bear counterpart gained 14.8% the week before, Direxion Daily Semiconductor Bull 3x Shares (NYSE Arca: SOXL) gained 5.4% last week. SOXL aims to perform at 300% of the daily returns of the PHLX Semiconductor Sector Index.
*ETFs have a primary listing on a U.S. exchange and an average daily trading volume over 100,000. Data and analytics provided by FactSet.
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Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.