Despite somewhat recovering from heavier losses earlier in the day, U.S. equities and stock exchange traded funds finished August on a down note but remained largely flat for the month.
Over August, the Dow Jones Industrial Average was down 0.1%, the Nasdaq Composite was up 0.9% and the S&P 500 dipped 0.1%.
The best performing non-leveraged exchange traded products for the past month include the VelocityShares VIX Short Volatility Hedged ETN (NYSEArca: XIVH) up 13.5%, United States Diesel-Heating Oil Fund (NYSEArca: UHN) up 13.2% and Guggenheim China Technology ETF (NYSEArca: CQQQ) up 12.6%.
The VelocityShares VIX Short Volatility-Hedged strategy utilizes a systematic approach to investing in VIX futures that has a net long or net short volatility position that varies due to daily changes in the volatility market. Specifically, the ETN has a -70% target net volatility allocation.
While UHN dipped, along with crude oil prices, in recent sessions, weather watchers are already anticipating a cold 2016/2017 winter ahead. Forecasters are expecting the development of a weak La Nina conditions in the central pacific over the next three months.
China’s market rebounded this month, with Chinese tech stocks leading the charge on a strong earnings season among large e-commerce companies and social media giant Tencent.[related_stories]