The iPath Dow Jones-UBS Copper Subindex Total Return ETN (NYSEArca: JJC) is up 13.4% over the past three months, which is good for industrial metals exchange traded products with exposure to the red metal.
Copper’s resurgence has also been a boon for the iShares MSCI Chile Capped ETF (NYSEArca: ECH), the lone ETF dedicated to tracking equities in the world’s largest copper-producing country.
ECH “has received $57 million in funds without a single day of outflows since April 2. In the past week, the ETF had inflows of $13 million, more than any other fund in the region, according to data compiled by Bloomberg,” reports Eduardo Thomson for the news agency.
ECH’s second-quarter inflows stand-out among the major single-country ETFs tracking Latin American nations. The Chile fund’s $57.2 million of inflows for the current quarter through May 13 trail only the $63.2 million allocated to the iShares MSCI Mexico Capped ETF (NYSEArca: EWW). [Mexico ETF is Still a Dud]
ECH’s second-quarter inflows are more than double the amount investors have allocated to the Global X FTSE Colombia 20 ETF (NYSEArca: GXG) and more than 11 times the inflows to the iShares MSCI All Peru Capped ETF (NYSEArca: EPU). Colombia and Peru are also major copper producing countries. ECH has been regaining investors’ favor while the iShares MSCI Brazil Capped ETF (NYSEArca: EWZ), the largest Latin America ETF, is bleeding assets. EWZ has lost $97 million this quarter. [Copper Surge Boosts Chile
It is not just copper that is stoking new money into ECH.