Dion's Tuesday ETF Winners and Losers
iPath S&P 500 VIX Short Term Futures ETN (VXX) 7%
The S&P 500 is suffering its steepest losses in 2012 as concerns about Europe's debt issues combine with China's growth doubts to stoke investor uncertainty. As bulls run for cover, the fear-tracking VIX index is powering higher, pulling VXX and the iPath S&P 500 VIX Mid Term Futures ETN (VXZ) along for the ride.
iShares Barclays 20+ Year Treasury Bond Fund (TLT) 1.2%
Safe haven assets like long-term U.S. Treasuries have fallen into favor during this early week sell off. TLT is revisiting its 50-day moving average.
On the currency front, the Japanese yen has become a favorite, helping the CurrencyShares Japanese Yen Trust (FXY) secure gains. This upward action is refreshing since the fund suffered a steep and relatively uninterrupted downturn in February.
iShares MSCI Russia Capped Index Fund (ERUS) -6.2%
Europe and China appear to be dominating investor discussion during mid-day trading, but the largest declines can be found from ETFs designed to track Russian stocks. ERUS' heavy losses have pushed the fund back to levels seen prior to its late-February pop. Social unrest stemming from the nation's political elections could ensure that shaky action persists in this corner of the developing world.
iShares MSCI Sweden Index Fund (EWD) -5.6%
A three-day streak of losses has pushed the Swedish stock-tracking EWD back to levels seen at the start of February. Looking to the near term it will be interesting to see if the fund can find some solid ground; with this decline, shares of EWD have retreated to its 50-day moving average.
Uncertainty continues to swirl here. Conservative investors would be best off steering clear from Europe.
Guggenheim China Small Cap Index ETF (HAO) -5.2%
Doubts over China's growth have sent a shockwave across not only the pool of China-linked ETFs like HAO, but also a number of other Asian emerging market-focused ETFs. The Market Vectors India Small Cap ETF (SCIF) and the Market Vectors Vietnam ETF (VNM) are among the most battered.
Global X Uranium ETF (URA) -5.2%
Concerns that China, the global economic growth engine, will be unable to maintain its footing are driving investors out of ETFs linked to the materials sector. In addition to URA, the Global X Copper Miners ETF (COPX) and the Market Vectors Rare Earth/Strategic Metals ETF (REMX) are also taking notable hits.
All prices as of 2:11 PM EST.
Written by Don Dion in Williamstown, Mass.