U.S. equity ETFs saw their second straight weekly loss although the market was fairly resilient despite fears Greece will drop out of the euro and JP Morgan surprising investors with a $2 billion loss.
However, the big ETF movers this week were in commodities. For example, the largest natural gas ETF U.S. Natural Gas Fund (NYSEArca: UNG) vaulted 9% and is on a three-week winning streak.
Conversely, gold miner ETFs were hit hard this week and continue to underperform bullion. Physical gold ETFs have also been trending lower since March and gold prices traded below $1,600 an ounce this week.
The largest gold ETF, SPDR Gold Shares (NYSEArca: GLD), was on pace for a nearly 4% weekly pullback in Friday afternoon dealings.
In stock ETFs, biotech paced the sector funds to the upside.