Cold ETFs for week 17 continue to see a decline in Russia, Italy, and natural gas ETFs, with sugar, short US Treasuries, and India ETFs losing the most over the past 30 days.
Cold ETFs, 5 Days:
- Market Vectors Russia ETF (NYSEARCA:RSX): -7.46%
- iShares MSCI Italy Index Fund (NYSEARCA:EWI): -6.93%
- iPath Dow Jones UBS Natural Gas Subindeex Total Return ETN (NYSEARCA:GAZ): -6.85%
Cold ETFs, 30 Days:
- iPath DJ-UBS Sugar Subindex Total Return Sm Index ETN (NYSEARCA:SGG): -12.42%
- iPath US Treasury 10 Year Bear ETN (NYSEARCA:DTYS): -11.91%
- WisdomTree India Earnings Fund ETF (NYSEARCA:EPI): -10.48%
A glance at the top three ETF losers for the past week indicate continued stress in Europe and natural gas, as Russia, Italy, and natural gas ETFs have all lost over 6% over the past five days. It is interesting to note too that with the continued bloodbath in Europe, more Europe ETFs such as the iShares MSCI Germany Index Fund ETF (NYSEARCA:EWI) have not surfaced for overall 5 day losses.
As far as the top losers for the past 30 days, it is particularly interesting to note that second place iPath US Treasury 10 Year Bear ETN (NYSEARCA:DTYS) has declined so much; this decline would indicate a renewed confidence in “long” US Treasury ETFs which suggests that values of US Treasuries are rising due to sustained stress from foreign markets.
Bottom Line: Markets continue to feel the pressure from a burning Europe; it is likely more Europe ETFs will become five or thirty day “cold” ETFs if the current trend continues.