Stock exchange traded funds have surged this week on relief over Greece accepting further austerity, but the S&P 500 ended the second quarter essentially where it started.
Healthcare ETFs were the top sector performers in the second quarter, with pharmaceuticals and biotech leading the way.
Meanwhile, many commodities ETFs suffered quarterly losses with oil falling on worries over the global economy and the release of strategic reserves.
In metals, SPDR Gold Shares (NYSEArca: GLD) gained about 4% during the quarter, while demand stayed steady. However, growth expectations for the metal were lowered. The precious metal managed to hold up better than silver, after prices fell in May due to higher margins on futures contracts. [June ETF Performance Report.]
Dollar ETFs lost ground in the second quarter, but have seen renewed interest lately. PowerShares US Dollar Bullish Fund (NYSEArca: UUP) lost about 3% in the quarter but may be seeing a trend reversal.
Solar ETFs have rallied this week but they were among the worst sector performers in the second quarter with losses of nearly 20%.
The healthcare and biotech sectors were the best sector performers in the second quarter.
Health Care Select Sector SPDR Fund (NYSEArca: XLV)
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.
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