According to data by Ultumus, ETFS WTI Crude Oil ETC (CRUD) was among the worst performing products last week. CRUD saw its Net Asset Value (NAV) fall 6.8% last week. Despite the recent dip, the $600m ETC had inflows of $22.5m as the year-to-date returns remain 23.8%.
In mid-April, oil and gas ETFs were the best performing, producing double-digit YTD returns. This was a result of the US saying it was ending all exemptions for sanctions against Iran.
The iShares Oil & Gas Exploration & Production UCITS ETF (SPOG) which invests in companies that develop and markets natural gas and crude oil similarly saw its NAV fall 5.5%.
Furthermore, the Invesco STOXX Europe 600 optimised Oil & Gas UCITS ETF (SC0V) and the US-domiciled SPDR S&P Oil & Gas Exploration and Production ETF (XOP) saw their NAVs fall 2.7% and 8.1%, respectively.
SPOG/XOP/SC0V’s YTD Returns – Source: Bloomberg