On the other end, the worst non-leveraged ETPs of the past month include the AccuShares Spot CBOE VIX Up Shares (NasdaqGM: VXUP) down 70.7%, REX VolMAXX Long VIX Weekly Futures Strategy ETF (BATS: VMAX) down 38.2% and iPath S&P 500 VIX Short Term Futures ETN (NYSEArca: VXX) down 30.1%.
The month of July started off on uncertain footing as investors digested the United Kingdom referendum vote and began positioning for a more volatile post-Brexit environment.
After the government revealed a surge in nonfarm payrolls, the equities market began to gain momentum on the improved underlying strength of the labor market and U.S. economy.
As the Brexit shock fades and improved economic data helps fuel sentiment, investors turned risk-on, fueling the push in U.S. equities through the rest of the month. Additionally, a string of better-than-expected second earnings results helped keep the momentum going.
Related: A Shining Ray of Good News for Silver ETFs
Even a failed coup attempt in Turkey was not enough global geopolitical risk to topple the bullish run that pushed U.S. equities toward record highs.
Toward the end of July, the equities market was more or less stuck in slow, side ways action, with the Federal Reserve standing pat on interest rates but signaling a potential hike in September due to the strength of the labor market.
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