Although it might not be the first thing that comes to mind when thinking of investment tools, the weather can be a factor in some exchange traded funds’ (ETFs) performance. For example, wheat prices have been increasing because of global droughts, which affects agriculture ETFs such as the PowerShares DB Agriculture (DBA). Currently, DBA is up 7.2% for the last three months, having launched in January.

However, some critics caution that weather predictions aren’t helpful for investors because they’re just forecasts. One expert reminds us that the U.S. was supposed to have a severe hurricane season this year, but we didn’t, reports Darla Mercado for Investment News. Hurricanes can affect commodities such as oil and oil futures ETFs. In fact, back in August when Hurricane Dean was developing and investors were worried that it would hit the Gulf of Mexico and damage many oil and gas installations, energy ETFs saw a flurry of activity. Severe storms also can affect utilities ETFs in the same manner. So next time you watch your local weather forecast, think about how it could or could not impact your ETF portfolio.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.