With Spain’s Valencia region requesting a bailout and later reports of additional regions seeking aid, global markets quickly dropped on speculation of another default scenario, but this time in the much larger Spanish economy.

Meanwhile, yields on the benchmark 10-year Treasury bond hit fresh record lows as safe-haven investors piled into the U.S. government assets. [When Will the Treasury Bubble Pop for Bond ETFs?]

Still, the markets made a quick recovery after Mario Draghi, head of the European Central Bank, Germany’s Merkel and France’s Hollande pledged to do whatever it takes to help the ailing peripheral states. [Stock ETFs Bounce Back After ECB’s Pledge to Do ‘Whatever It Takes’]

Top ETF performers over July include those that track soft commodities, notably grains and corn.

For more information on ETF performances, visit our ETF performance reports categoryClick here to see the full July performance report.

Visit our ETF Analyzer for the most up-to-date ETF performance numbers.

Max Chen contributed to this article.