ETFs tracking Commodities related Stocks performed poorly yesterday with an average daily performance of -2,07%. This trend gained traction over the last few days with some indicators showing up. First, the segment witnessed a strong drop in oil price, after the Energy Information Administration (EIA) stated that the US Crude Oil inventories have increased by 4,7M barrels, way above the expectations. The market was rather expecting a drop of 600k barrels. Furthermore, despite a slight rebound beginning of May, the Bloomberg Industrial Metals Subindex continues to decline (-0.22%).
Over the last month, the segment lost 7,64%, but remains in positive territory since the beginning of the year, with a cumulative performance of +5,60%. The Commodities related Stocks segment is represented by 20 indices, tracked by 23 ETFs, for a total of around $6,8Bn of assets under management.