By Mark DeCambre
Hello, hello! In this Thursday’s edition of ETF Wrap we do a rundown on what worked and what didn’t over the past three months. In brief, rare-earth metals were big winners in the third quarter but China related funds were clobbered.
You know the drill: send tips, or feedback, and find me on Twitter at @mdecambre to tell me what we need to be jumping on.
And sign up here for ETF Wrap.
The good and the bad
|Top 5 gainers of the past week||%Performance|
|VanEck Oil Services ETF /zigman2/quotes/207596637/composite OIH||5.0|
|Fidelity MSCI Energy Index ETF /zigman2/quotes/202486535/composite FENY||4.8|
|KraneShares Global Carbon ETF /zigman2/quotes/219806069/composite KRBN||3.2|
|Avantis U.S. Small Cap Value ETF /zigman2/quotes/214415983/composite AVUV||2.4|
|Global X MLP & Energy Infrastructure ETF /zigman2/quotes/203163800/composite MLPX||2.0|
|Source: FactSet, through Sept. 29, excluding ETNs and leveraged products . Includes NYSE, Nasdaq and Cboe traded ETFs of $500 million or greater|
|Top 5 decliners of the past week||%Performance|
|VanEck Rare Earth/Strategic Metals ETF /zigman2/quotes/205602686/composite REMX||-9.9|
|ARK Genomic Revolution ETF /zigman2/quotes/206454610/composite ARKG||-9.2|
|Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO||-8.8|
|Amplify Transformational Data Sharing ETF /zigman2/quotes/204122720/composite BLOK||-8.2|
|ARK Innovation ETF /zigman2/quotes/204808965/composite ARKK||-8.1|
…And for the quarter
|Top 5 gainers of the past quarter||% Performance|
|North Shore Global Uranium Mining ETF /zigman2/quotes/215396693/composite URNM||24.2|
|VanEck Rare Earth/Strategic Metals ETF /zigman2/quotes/205602686/composite REMX||21.8|
|KraneShares Global Carbon ETF /zigman2/quotes/219806069/composite KRBN||13.2|
|Global X Lithium & Battery Tech ETF /zigman2/quotes/208067690/composite LIT||10.8|
|Global X Uranium ETF /zigman2/quotes/201570425/composite URA||10.7|
|Top 5 decliners of the past quarter||% Performance|
|KraneShares CSI China Internet ETF /zigman2/quotes/205873167/composite KWEB||-35.1|
|ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ||-30.1|
|Emerging Markets Internet & e-commerce ETF /zigman2/quotes/205406984/composite EMQQ||-24.0|
|WisdomTree China ex-State-Owned Enterprises Fund /zigman2/quotes/209006653/composite CXSE||-22.9|
|Global X MSCI China Consumer Discretionary ETF /zigman2/quotes/201468316/composite CHIK||-22.9|
The nuclear funds
We wrote about the North Shore Global Uranium Mining ETF back in the beginning of September , when Sprott Physical Uranium Trust /zigman2/quotes/228202313/delayed CA:UUT -1.82% was drawing outsize attention.
But momentum for uranium-related assets hasn’t abated with the URNM, referencing the North Shore fund’s ticker symbol, rallying 78% so far in 2021. The U.S. listing of the newly created Canada-based Sprott fund is up 22% in the month to date.
At the start of the month, some speculated that fundamental demand factors were behind the surge in uranium and ETFs, particularly as energy costs have been elevated against the backdrop of supply-chain bottlenecks that have emerged in a COVID world.
Of course, that dynamic has only gathered further momentum with natural-gas futures /zigman2/quotes/210189548/delayed NG00 +8.30% surging to the highest levels in around seven years earlier this week and the Reddit crowd also has caught wind of uranium’s price surge .
Nuclear power is seen as a solid option but that has only helped to underpin demand and driven values in URNM and Global X Uranium ETF, which is up 53% in the year to date.
If you’re curious, natural-gas oriented funds over the year have also seen explosive gains. The U.S. Natual Gas Fund /zigman2/quotes/205527422/composite UNG +8.73% is up 112% so far in 2021 and ProShares Ultra Bloomberg Natural /zigman2/quotes/210336898/composite BOIL +17.96% gas fund is up 271%. The funds aren’t cheap, however. ProShares is a leveraged ETF, a category, that we usually don’t cover, carries and expense ratio of 0.95%. That translates to $9.50 in annual fees for every $1,000 invested. U.S. Natural Gas Fund is higher at 1.28%. By comparison, the expense ratio for North Shore is 0.85% and Global X’s is 0.69%.