Worst ETFs of the week: Oil and Precious Metals ETFs

Mixed investor sentiment as oil and precious metals tanked this week

Data from John Hopkins University shows that a new global covid-19 wave is underway as seven-day moving average of daily new cases rose from 360,000 in the third week of June to 625,000 on August 6.

This latest pandemic development hammered oil prices, with worries that Delta variant may crunch demand from the world’s two largest oil consumers U.S and China. Last week, Brent Oil (B) fell by as much as 3.0% and ended the week down at $70.70 a barrel while U.S Crude (WTI) dropped by 4.2% to $68.28 a barrel.

Oil ETFs which are investment tools that track the direct price of the oil as well as heating oil and gasoline mimicked the downward trend.

In Europe, the WisdomTree WTI Crude Oil Pre-Roll (WTID) was the worst performer last week with -6.9% of negative returns. This Exchange traded commodity (ETC) provides investors with a total return exposure to WTI Crude Oil.

In America, United States Brent Oil Fund, designed to track the daily price movements of Brent crude oil dropped by -6.3% in the same period.

Joining Oil ETFs in our weekly worst performers list we find ETFs on precious metals, which can include Gold, Silver, Platinum and Palladium, and ETFs on related stocks in the mining sector, such as Gold Mining ETFs which performance is strongly related to that of the precious metal itself.

The segment is still feeling the after-effects of latest positive U.S. jobs report that pushed the U.S. Treasury yields up, boosted the greenback index and rallied U.S stock indices near their record highs, all bearish triggers for precious metals.

In Europe, the worst performer for the week with -4.85% negative returns was L&G Gold Mining UCITS (AUCO), an ETF that tracks the performance of the Global Gold Miners Index.

In America, Horizons Silver fell by -5.40% last week. This ETF denominated in Canadian dollar tracks the performance of the Solactive Silver Front Month MD Rolling Futures Index ER.

Bottom 10 ETFs of the Week: Oil and Precious Metals ETFs

Europe

• WisdomTree WTI Crude Oil Pre-roll: -6.86%
• WisdomTree Petroleum: -5.29%
• UBS ETF (CH) – CMCI Oil SF (CHF) A-dis: -4.98%
• UBS (Irl) ETF plc – Solactive Global Pure Gold Miners UCITS: -4.98%
• WisdomTree Brent Crude Oil: -4.90%
• L&G Gold Mining UCITS: -4.85%
• Xtrackers WTI Crude Oil Optimum Yield: -4.62%
• WisdomTree Longer Dated WTI Crude Oil: -4.62%
• L&G US Energy Infrastructure MLP UCITS: -4.58%
• HANetf AuAg ESG Gold Mining UCITS: -4.52%

Americas

• United States Brent Oil Fund: -6.3%
• United States Oil Fund: -6.2%
• ProShares K-1 Free Crude Oil Strategy: -5.7%
• Invesco DB Oil Fund: -5.5%
• United States 12 Month Oil Fund: -5.4%
• Horizons Silver: -5.4%
• BMO Equal Weight Global Gold Index: -5.3%
• CI First Asset Gold+ Giants Covered Call: -5.2%
• Horizons Enhanced Income Gold Producers: -5.2%
• Defiance Next Gen Altered Experience: -5.1%

Keep reading:

• Best ETFs of the week: Crypto, Banks and Biotech ETFs
• New ETF launches: ESG themed ETFs dominate new launches

Find and compare over 7,000 ETFs with our free tools:

• ETF Screener
• ESG Investing
• Download the 2021 Trackinsight Global ETF Survey