The broad commodity ETFs include heavy energy tilts. For example, DBC includes about 50% and DJP has 30%.
Meanwhile, gold and silver are among the best performers this year over global economic concerns and a pullback in the U.S. dollar that supported demand for precious metals as a better store of value.
Nevertheless, observers remain skeptical of the turn in the commodities market.
“Commodities have outperformed, that’s the reality,” Dominic Schnider, head of commodities and Asia-Pacific foreign exchange of the wealth-management unit at UBS Group AG, told Bloomberg. “I still think prices can fall in the short run, they should find a bottom during summer. I think prices of commodities in general, not so much base metals but predominantly energy, will come off again.”
For more information on the commodities market, visit our commodity ETFs category.
PowerShares DB Commodity Index Tracking Fund