Additionally, the United States Gasoline Fund (NYSEArca: UGA) typically underperformed from July through the end of a year, with the largest average decline occurring in September at -4.3% and only moved higher 25% of the time, followed by a -5.1% fall in October.
Meanwhile, the iShares Silver Trust (NYSEArca: SLV) also typically retreated in September, dropping by 2.5% on average and only moving higher 40% of the time for the month.
Silver, along with other precious metals, have rallied this year as the Federal Reserve maintained its low interest rate environment. However, the metals group has pulled recently on speculation the Fed could begin raising rates again later this year.
For more information on the commodities market, visit our commodity ETFs category.