Commodity exchange traded funds (ETFs) were among the strongest performers for May, and if things keep going the way they are, June might be another decent month. In fact, it might be a good time for those of you who missed our special report on commodities to have a look, because this area doesn’t seem like it’s going to disappear from the headlines anytime soon.

Not halfway through the month, and new records are being reached daily for both gas and oil prices. Today is no exception: gas is at a record national average of $4.052 a gallon, and oil prices rocketed close to $137 a barrel after inventories fell, reports John Wilen for the Associated Press.

With prices like that, commodity-focused ETFs could continue to draw investors who are looking to hedge out of the woodwork.

Year-to-date, most of the top ETFs are commodities related and asset growth has been dramatic, ETF Express writes. Total assets in them stand at $37.3 billion.

Of the top 20 ETFs and exchange traded notes (ETNs) year-to-date, 17 of them are focused on commodities. The top five ETFs so far this year are:

• United States Natural Gas (UNG), up 62.6% year-to-date
• iPath DJ AIG Natural Gas Total Return Sub-Index ETN (GAZ), up 61.6% year-to-date
• iPath DJ AIG Energy Total Return Sub-Index ETN (JJE), up 47.2% year-to-date
• United States 12-Month Oil (USL), up 45.3% year-to-date
• PowerShares DB Energy (DBE), up 45.1% year-to-date

Tags | Energy, ETNs, Gas, Natural Gas, Oil, UNG