ETF Spy: Commodities Lift Many Ships (GRN, ERX, DIG, SLV, UGL, IXC, IXN, TTF, EWT)
by Eric Monte | July 20th | Filed in: ETF News
During the last week, the world continued to digest the ongoing European debt crisis. Investors turned to commodities as a safe haven from the crisis. As oil continued to trade higher, traders began buying shares of alternative energy companies. The strong performance of commodities helped the Leveraged ETFs Index. The two best performers were both leveraged to a commodity. As gold set record highs this week and other precious metals performed well, some Indexes were pulled higher because of golds performance. Top tickerspy ETF Indexes: The Green ETFs Index has risen 1.3% over the last week. As oil traded higher over the last week, investors looked for alternative forms of energy. This helped the Green ETFs Index propel higher with shares of iPath Global Carbon ETN (GRN) leading the way with an impressive 12% gain over the last week. The Leveraged ETFs Index increased 0.8% over the last week. The Leveraged ETFs Index, which uses leverage to invest up to two or three times the underlying securities, performed well this week because of the strong performance of oil. Shares of Direxion Shares ETF Trust Energy Bull 3x (ERX) and Ultra Oil & Gas ProShares (DIG) had the two top performances of the Index. The Commodity ETFs Index gained 0.7% this week. As the European debt crisis continues to unfold and the weak dollar continues, investors have flocked to precious metals. This has allowed gold to reach record highs and other commodities to perform very well. Leading the Index higher were shares of iShares Silver Trust (SLV) and ProShares Ultra Gold (UGL). The Global Sector ETFs Index increased 0.6% during the last week. With the underlying strong performance of commodities, the Index was pulled higher by shares of iShares S&P Global Energy Sector Index Fund (IXC). Also performing well this week were shares of iShares S&P Global Technology (IXN). The Single Country Emerging Market ETFs Index was marginally higher over the last week. Performing the best this week were countries in Asia. Posting the best performances for the Single Country Emerging Market ETFs were the Thai Fund (TTF) and the iShares MSCI Taiwan Index Fund (EWT). A full listing of fourteen ETF Indexes and related charts and metrics are available at tickerspy.com.
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