Top Gainers and Losers Among ETFs on Monday

The U.S. Markets opened with a slight decline on Monday amid the International Monetary Fund cutting the growth forecast for the U.S. economy to 2.0% from 2.8% set earlier this year. The IMF also advised the Fed to maintain the interest rates at zero for a longer period than expected, as Bloomberg reports. In this way, both the Dow Jones Industrial Average (INDEXDJX:.DJI) and the S&P 500 (INDEXSP:.INX), inched down by around 0.17% and 0.12% respectively in Monday morning trading.

However, in this piece we will focus on the ETFs that have posted the highest and lowest intraday returns so far. Among the top gainers, on the first spot is Direxion Daily South Korea Bear 3X Shrs (NYSEARCA:KORZ) which gained around 5.40% so far on Monday, trading currently at around $22.1. This non-diversified ETF is looking for daily investment results, of 300% of the inverse of the performance of the MSCI Korea 25/50 Index, which measures the activity of the large and mid cap segments of the South Korea equity market. However, even though today Direxion Daily South Korea Bear 3X Shrs (NYSEARCA:KORZ) is among the top gainers, over the past year, it has lost over 46%.

Direxion

The next on the list is iPath Global Carbon ETN (NYSEARCA:GRN), which gained some 4.60% on Monday, with the year-to-date return amounting to around 3.8%. iPath Global Carbon ETN (NYSEARCA:GRN) is an ETF that offers investors exposure to the Barclays Global Carbon Index Total Returns, which is designed to measure the activity of the most liquid carbon-related credit plans.

The third top gainer on Monday is Direxion Daily Russia Bear 3X Shares (NYSEARCA:RUSS), an ETF that seeks to provide returns from the inverse of the performance of the Market Vectors Russia Index. Direxion Daily Russia Bear 3X Shares (NYSEARCA:RUSS) has gained around 3.60% so far, and currently trades at around $11.1. However, over the past 52 weeks, the price of the ETF dropped by over 42%, although since the beginning of the year it has gained around 12%.

Now, let’s take a look at two ETFs that haven’t performed so well. The top loser so far is WisdomTree Middle East Dividend (NYSEARCA:GULF), which has lost approximately 3.4% and currently trades at around $22.26. It’s year-to-date return amounts to around 21%, while over the past year, its price has advanced by some 35%. WisdomTree Middle East Dividend (NYSEARCA:GULF) is focused on following the performance of the WisdomTree Middle East Dividend Index, taking into account the price and the yield of the components of the index.

Another loser is Direxion Daily Russia Bull 3X Shares (NYSEARCA:RUSL), which opposite to the aforementioned Direxion Daily Russia Bear 3X Shares (NYSEARCA:RUSS), invests in long positions in securities that comprise the Market Vectors Russia Index. Direxion Daily Russia Bull 3X Shares (NYSEARCA:RUSL), has declined by some 3.20% on Monday, and is down by 42.70% since the beginning of the year.

Disclosure: none

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