The U.S. commodity exchange-traded fund market, which includes 71 products from 28 issuers managing a total of $233 billion in assets, saw net inflows of nearly $2.8 billion this week. A substantial portion of this new capital was allocated to the precious metals category, which also delivered positive returns over the period. This concentration of flows into precious metals occurred alongside more varied results across other commodity sectors.
Weekly Performance Recap: Precious Metals and Energy Lead the Pack
Commodity markets posted broad gains this week, with Precious Metals (+1.99%) and Energy (+1.66%) leading all major categories. Strength in natural gas and gold powered the positive results, overcoming weakness in segments like shipping freight. Industrial metals also saw modest gains, while the agriculture sector finished the week slightly positive despite mixed performance among its underlying components.
Fund Highlights by Major Category (Week-to-Date):
Agriculture
- Top Performer: CORN (Teucrium Corn Fund): +1.79%
- Worst Performer: CANE (Teucrium Sugar Fund): -0.82%
Energy
- Top Performer: UNG (United States Natural Gas Fund LP): +7.11%
- Worst Performer: UGA (United States Gasoline Fund LP): -1.17%
Industrial Metals
- Top Performer: CPER (United States Copper Index Fund): +1.34%
- Worst Performer: DBB (Invesco DB Base Metals Fund): +0.34%
Precious Metals
- Top Performer: DBP (Invesco DB Precious Metals Fund): +2.92%
- Worst Performer: PALL (abrdn Physical Palladium Shares ETF): -2.68%
Multi-Sector/Broad Market
- Top Performer: HARD (Simplify Commodities Strategy No K-1 ETF): +1.69%
- Worst Performer: ZSC (USCF Sustainable Commodity Strategy Fund): +0.05%
Weekly Flows Summary: Gold Funds Dominate Inflows
Investor flows were heavily concentrated in the precious metals space, which attracted over $2.7 billion for the week. This category’s dominance is a key feature of the commodity ETF landscape, as it accounts for over 91% of the sector’s total assets. Consequently, the largest individual fund flows are almost exclusively seen in the largest gold and silver ETFs. This week, gold funds captured the top three spots for inflows, while a mix of precious metals and broad-based funds saw the largest redemptions.
Largest Individual ETF Flows (5-Day):
Top 3 Inflows:
- GLD (SPDR Gold Shares): +$2,274M
- IAU (iShares Gold Trust): +$502M
- IAUM (iShares Gold Trust Micro ETF of Benef Interest): +$61M
Top 3 Outflows:
- GLDM (SPDR Gold Minishares Trust): -$194M
- PPLT (abrdn Physical Platinum Shares ETF): -$61M
- FTGC (First Trust Global Tactical Commodity Strategy Fund): -$25M
Issuer and Product Landscape
The commodity ETF market remains highly concentrated among a few key issuers. The top three firms—SPDR (53.53%), iShares (32.04%), and aberdeen (5.76%)—control nearly 92% of the total assets. In line with the week’s dominant trend, SPDR captured the largest net inflows with over $2.0 billion, while First Trust experienced the largest net outflows at -$25 million. The product landscape saw minimal changes over the past quarter, with one new fund launch from issuer COtwo and two fund closures from Hartford and iShares.
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
