ETF Trends
ETF Trends

Financial exchange traded funds were the biggest sector decliners in Tuesday’s down market after a five-day rally.

Financial Select Sector SPDR Fund (NYSEArca: XLF) was off more than 1% along with top holding Bank of America (NYSE: BAC). In the tech sector, the Nasdaq-100 PowerShares QQQ (NasdaqGM: QQQ) held steady thanks in part to a 1.3% rise in key component Apple (NasdaqGS: AAPL).

In commodities markets, oil and precious metals ETFs traded sharply higher Tuesday. U.S. Oil Fund (NYSEArca: USO) added 2%, SPDR Gold Shares (NYSEArca: GLD) rose 1.4% and iShares Silver Trust (NYSEArca: SLV) rallied 3.2%.

Miner stocks were also strong Tuesday — Market Vectors Gold Miners (NYSEArca: GDX) climbed 2.3% and Global X Silver Miners (NYSEArca: SIL) rose 3.7%.

Renewed worries over Europe’s debt crisis and Chinese banks pushed Treasury ETFs higher after last week’s rout. [Treasury ETFs Rise]

Muni bond ETFs are back in the spotlight with a government shutdown in Minnesota illustrating the difficult fiscal situation many states are facing. [States May Rattle Muni Bond ETFs]

In industry news, the recent falloff in the CBOE Volatility Index following a spike earlier this month has prompted the automatic redemption of a Barclays exchange traded note designed to track VIX futures. [Barclays ETN Redeemed]

Financial Select Sector SPDR Fund

Full disclosure: Tom Lydon’s clients own GLD and SLV.

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.